Nihon M&a Center Holdings Inc. · TSE:2127
Nihon M&a Center — Q1 2026 Earnings Presentation
79 slides from Nihon M&a Center's earnings presentation, Jul 30, 2026
Slide 1: Financial Results Report for Q1 FY2026
Assisting companies to continue and prosper through M&A IR Report Financial Results Report for Q1 FY2026 Year to March 2027 30 July 2026 TSE code ２１２７ To bring best-in-class M&A ever closer – today and beyond. 35th anniversary of our founding Nihon M&A Center Group The information included in this p
Slide 2: Table of Contents
Table of Contents Nihon M&A Center Holdings Purpose P1 Branding P40 Core Value P41 Our Re-Growth Strategy P2 Q1 FY2026 Results Review P3～13 Industry Trends P42～51 Industry Trends – External Landscape P43 Summary of Q1 FY2026 Results P4～5 Industry Trends - Response by SME Agency P44～46 Q1 FY2026 P/L
Slide 3: Nihon M&A Center Holdings Purpose
Nihon M&A Center Holdings Purpose To bring best-in-class M&A ever closer. To connect hopes and dreams for the best M&A experience in Japan and then the world Best M&A ＝ Top level compliance, client satisfaction, quality
Slide 4: Our Re-Growth Strategy
Our Re-Growth Strategy 300 Ordinary Profit （¥00mn） Record-high Record-high 230 leading sales and indicators ordinary profit Next GENESIS Inappropriate 220 承 accounting Introduction Development Change Conclusion Vision ３００ incident （See page 17 for details） Strengthen- A return to 210 Compliance- ing
Slide 5: Q1 FY2026 Results Review
Q1 FY2026 Results Review
Slide 6: Summary of Q1 FY2026 Results
Summary of Q1 FY2026 Results Results Number of YoY YoY transactions 188 Sales 9,104 ¥mn closed -11.3% ＋0.9% M&A sales/ YoY 46.3 ¥mn transaction +13.4% Ordinary YoY 2,252 ¥mn Profit -11.1% Pretax YoY 3,156 ¥mn Profit +24.6% Sales growth was limited due to the decline in the number of transactions c
Slide 7: Summary of Q1 FY2026 Results: Leading Indicators
Summary of Q1 FY2026 Results Leading Indicators are Strong Leading Indicators Number of new o/w Number of YoY YoY sell-side 347 mid-cap 76 mandates ＋20.1% mandates*1 ＋31.0% The number of new sell-side mandates set a new Q1 record Qualitative improvement in mandates continued • The share of large
Slide 8: Q1 FY2026 P/L (Revenue)
Q1 FY2026 P/L (Revenue) Q1 FY2026 YoY change YoY change Cause/Results results (%) (amount) M&A sales per transaction increased Sales significantly YoY （+13.4％）, offsetting the impact （¥mn） 9,104 +0.9% ＋85 of the decline in the number of transactions closed (-11.3% YoY) Number of Due to delays in
Slide 9: Q1 FY2026 P/L (Expenses and Profit)
Q1 FY2026 P/L (Expenses and Profit) Q1 FY2026 YoY change YoY change results (%) (amount) Cause/Results Personnel costs: 2,201 ¥mn, ＋6.5% YoY Referral fess and outsourcing expenses: 980 ¥mn, Cost of －16.1% YoY sales 3,610 -0.8% -27 （¥mn） • Primarily due to an increase in the share of direct deals
Slide 10: P/L Summary
P/L Summary FY2026 Q1 FY2026 results YoY Q1 FY2025 results full-year forecasts (¥mn, ％) Total ％ % Total % Total % Sales 9,104 100.0 0.9 9,018 100.0 52,800 100.0 (o/w M&A sales) 8,703 95.6 0.6 8,652 95.9 Cost of sales 3,610 39.7 -0.8 3,637 40.3 (o/w referral fees and outsourcing expenses) 980 10.8 -1
Slide 11: B/S Summary
B/S Summary Maintaining a healthy balance sheet Asset （¥mn, ％） End-June 2026 % Change End-Mar 2026 Ⅰ Current assets 34,426 63.2 -9,331 43,758 Cash and deposits 32,927 60.5 -7,520 40,447 Accounts receivable 602 1.1 -206 808 Others 897 1.6 -1,605 2,502 Ⅱ Fixed assets 20,015 36.8 -2,448 22,464 Total as
Slide 12: Latest Leading Indicators in line with M&A Mandate Flow
Latest Leading Indicators in line with M&A Mandate Flow * Figures for Q1 (Apr- Jun) FY2026, % changes YoY Mandate / Preparatory phase Matching phase Negotiation phase M&A advisory Preparation of Definitive Management Completion agreement valuations & Matching meeting agreement with potential sellers
Slide 13: Record of Transactions Closed, M&A Sales, New Mandates
Record of Transactions Closed, M&A Sales, New Mandates FY2023 FY2024 FY2025 FY2026 （Units: no. of transactions, million yen） １Q Full year １Q ２Q ３Q 4Q Full year １Q 2Q ３Q 4Q Full year １Q Total number of transactions close 230 1,146 19１ ２６３ 284 ３４０ 1,078 212 276 322 251 1,061 188 (by no. of companies)
Slide 14: Number of Employees
Number of Employees Recruitment, retention, and development of M&A consultants remain a top priority Additionally, to strengthen the training and development framework, beginning this fiscal year, the start date for new hires has been standardized to the first business day of each quarter Number of
Slide 15: M&A Consultant Headcount (Reference)
M&A Consultant Headcount (Reference) Number of M&A Consultants as of End-Jun FY2026 Following the organizational restructuring in April 2026, the following personnel were transferred from the M&A Support division to the Corporate division. M&A Support (Cost of Sales) ⇒ Corporate • Deal Managemen
Slide 16: FY2026 Forecast and Mid-term Management Plan
FY2026 Forecast and Mid-term Management Plan
Slide 17: FY2026 Forecast
FY2026 Forecast Forecast exceeding Mid-term Management Plan (FY2027 targets: Sales ¥50 billion, OP ¥18 billion) FY2026 consolidated results forecasts Compared Compared FY2025 to FY2025 FY2025 to FY2024 H1 H2 Full year results results forecasts forecasts Sales 23,900 28,900 52,800 50,257 +5.1% 46,300
Slide 18: Mid-term Management Plan
Mid-term Management Plan In FY2025, we achieved our mid-term management target one year ahead of schedule. We aim to deliver upside results even within the current mid-term management plan period Mid-term Management Plan (¥mn) Consolidated sales Target higher than budgeted figures 60,000 Consolidate
Slide 19: Next GENESIS Vision
Next GENESIS Vision 300 FY2026 is defined as the start of our second founding and renewed growth Starting with regional revitalization, Vision driving the renewal of Japan, and What the company ultimately becoming the world’s No. 1 aspires to become integrated M&A company Toward ordinary profit of ¥
Slide 20: Trust-type Stock Compensation Plan
Trust-type Stock Compensation Plan Introduction of trust-type stock compensation plans toward achieving FY2032 ordinary profit target *Approved at the Annual General Meeting held on June 25, 2026 Purpose of introducing this system To further heighten awareness among officers and all employees of i
Slide 21: Head Office Expansion and Relocation in the Second Founding Phase
Head Office Expansion and Relocation in the Second Founding Phase Expanding and Relocating the Tokyo Head Office to Enhance Face-to-Face Communication and Improve Management Speed and Quality (Planned for Spring 2029) Objectives of the Head Office Expansion and Relocation An investment aimed not m
Slide 22: Redesigning our mission framework
Redesigning our mission framework Formulated a new vision and core values for our second founding Redefined the Group’s Vision and renewed the existing Philosophy as Core Values Corporate ethos We contribute to the preservation and An enduring and sustainable growth of businesses unwavering corpor
Slide 23: M&A support for growth-oriented companies: Management organization structure
Management organization structure Restructured the Sales Organization for our “second founding” amid structural growth in M&A demand Prior Structure ⇒ New Structure Organizational roles by company size segment ・ ・・ Sales HQ Sales HQ Alliances Div. Business Div. companies Corporate Strategy Div. Indu
Slide 24: Shareholder equity and Shareholder Breakdown
Shareholder equity and Shareholder Breakdown
Slide 25: Shareholder Return Contribution (Dividend Policy)
Shareholder Return Contribution (Dividend Policy) Plan to maintain a ¥29 dividend per share, including a ¥4 special dividend Shareholder Return Dividend per share Pay-out ratio FY2025*1 ¥29 73.7% FY2026 forecast ¥２９ 71.3% Dividends and pay-out ratio*2 Dividends（left axis） Pay-out ratio Pay-out ratio
Slide 26: ROE trend
ROE trend ROE to progress over ２0％ Shareholder equity and ROE （return on equity） Shareholder equity（left axis） (¥mn) (%) ROE（right axis） 60,000 30 25.7 % 24.0 % 24.4 % 50,000 24.1 % 21.8 % 18.7 % 40,000 20 30,000 20,000 10 10,000 0 0 FY2021 FY2022 FY2023 FY2024 FY2025 FY2026 （forecast） Copyright©202
Slide 27: Share Ownership and Market Capitalization
Share Ownership and Market Capitalization Share ownership as of 31 Mar 2026 Market capitalization （from Apr 2020） Other (¥100mn) corporations 14,000 2.4％ Treasury stock 5.8％ Securities companies 12,000 2.4％ 10,000 Individuals 8,000 32.7％ 6,000 Foreign 27.5％ 4,000 Financial 2,000 institutions 29.1％ 0
Slide 28: Related Activities
Related Activities
Slide 29: Update on Related Activities
Update on Related Activities Approximately 800 ¥mn gain on the sale of an investment from our focused fund business recorded as extraordinary income*5 QoQ comparison YoY comparison Q1 FY２０２6 Q1 FY２０２5 FY2025 FY2024 FY2023 Ratio to (¥mn) Total total sales YoY Total YoY Total YoY Total YoY Total YoY Ｍ
Slide 30: TOKYO PRO Market (TPM) IPO support activities
TOKYO PRO Market (TPM) IPO support activities *1 The cumulative number of companies supported by us for TPM listings has reached nearly 60 Acquired S-Adviser Qualification for Nihon M&A Center sponsor track the Sapporo PRO Frontier Market record （Jun 2026） • Prefectures with J-Adviser/F-Adviser cont
Slide 31: PMI Consulting business
PMI Consulting business For successful M&A, the necessity and importance of PMI*1 are increasing. Initiated joint research in PMI with Kwansei Gakuin University*2 (Jul 2026) *1 Post Merger Integration process Main changes in the external environment surrounding PMI support for SMEs March 2022 The
Slide 32: Overseas Activities
Overseas Activities 10th anniversary of opening overseas locations Entering a full-fledged profit generation phase centered on our five ASEAN locations Evolution of overseas activities Phase 3: Full-fledged profit generation Phase 2: Accumulation of know-how • Establishing a profit model and Phase 1
Slide 33: Overseas Activities
Overseas Activities Steady progress in advancing cross-border M&A Signed Strategic Alliance MOU with Our first support for a Japanese U.S. M&A Advisory Firm Generational company's acquisition of a UK Group （May 2026） company （Apr 2026） Purpose and Background of the MOU Washin Chemical Industry (
Slide 34: Fund business: J-Capital intermediate holding company
Fund business Established J-Capital as an intermediate holding company overseeing the fund business * See our website “Notice of Establishment of Intermediate Holding Company by Simplifies Incorporation type Company Split” for details Overview of J-Capital Evolution of the fund business An interme
Slide 35: Fund business
Fund business Initiatives to advance business at each fund company AtoG Capital （Since Dec 2023, our wholly owned subsidiary） Invests in mid-sized and small companies in the ASEAN region, where acquisition hurdles are high for Japanese companies, and strengthens governance and compliance structure
Slide 36: Features
Features
Slide 37: Active in digital transformation and adoption of AI
Active in digital transformation and adoption of AI (data-driven management) Status of database development using the AI-based business interview analysis service “Bring Out” and implementation of “Deal Profiles” AI Initiative① AI Initiative② Preparatory Phase Matching Negotiation Accumulated inform
Slide 38: Marketing Roadshow
Marketing Roadshow Currently doing seminar tour in 25 locations nationwide Special features of our nationwide seminar tour Speaker rostrums strengthened to cover more than the themes of succession planning and M&A, responding to owners' interests with celebrities, local authority leaders and univers
Slide 39: Regional marketing
Regional marketing Strengthening relationships with local customers through the rollout of community-based marketing initiatives Community-based initiatives Status of “local representative office with discussion desk” openings （Apr 2023～） • Dedicated consultants stationed in each prefecture to ena
Slide 40: Direct Marketing: Regional & Industry Strategy Division
Direct Marketing Established the Regional & Industry Strategy Division Drive new mandate acquisition through regional focus × industry specialization Regional & Industry Strategy Division initiatives Regional strategy • Leverage networks of leading regional companies and business owners to identif
Slide 41: 35th Anniversary Special Project
35th Anniversary Special Project Rolling Out Various Initiatives Throughout the Year Yoshito Okubo Named 35th Anniversary Ambassador （Jul 2026） • Yoshito Okubo, a former member of Japan’s national soccer team, has been appointed as our 35th Anniversary Ambassador • As part of our 35th anniversary
Slide 42: Branding
Branding Recognized by Guinness World Records for 5 consecutive years Best-selling mergers and acquisitions advisory company in 2024 Record this year Number of transactions closed* (No. of transactions closed) 1,088 transactions in 2024 1,200 (Year of record: Jan 2024 – Dec 2024) 1,067 1,088 1,013 9
Slide 43: Core Value: Be a professional
Core Value The company’s core values and beliefs Be a professional It means taking responsibility not merely for outcomes, but for the lives entrusted to us. A company is a place where lives are woven together. That is why we Utmost respect for face our clients with absolute commitment, even accepti
Slide 44: Industry Trends
Industry Trends
Slide 45: Industry Trends – External Landscape
Industry Trends – External Landscape Improvement required to service quality and ethical standards of the industry Number of companies providing M&A support （as of 21 Jul 2026） M&A specialist companies – intermediaries About 830 Within the total Companies providing M&A support 87.3% have 4 or less
Slide 46: Industry Trends - Response by SME Agency (1)
Industry Trends - Response by SME Agency (１) “SME M&A guidelines” 2nd revised edition (Aug 202４) Added content including fee transparency and policy for inappropriate buyers Summary of revisions (for intermediary parties) 1. Intermediaries, financial advisor fees and 5. Risks for parties following d
Slide 47: Industry Trends - Response by SME Agency (2)
Industry Trends - Response by SME Agency (2) “Skill map for SME M&A Specialists (Individuals)” (Released in April 2025) In order to improve the quality of private sector M&A specialized human resources, SME Agency have systematically organized and announced the skills related to the broad domain of
Slide 48: Industry Trends - Response by SME Agency (3)
Industry Trends - Response by SME Agency (3) Announced an overview of the SME M&A Qualification Examination based on the skill map (Mar 2026) Overview of the “SME M&A Qualification Examination (tentative name)” From the perspective of improving the knowledge, skills, and ethics of individuals enga
Slide 49: Industry Trends - Response by Self-Regulatory Body
Industry Trends - Response by Self-Regulatory Body Strengthened measures against inappropriate buyer* M&A Advisors Association (self regulatory body) 245 companies joined (as of Apr 2026). We are listed as a founder member Change of structure. Creation of Qualification system committee and Self
Slide 50: Industry Trends – Our Response (1)
Industry Trends – Our Response（１） Measures to prevent M&A problems What we do ① Further strengthening of process for checking risks during the M&A process Chec1 Criminal record Checkpoint Checkpoint Checkpoint 2 Financial capacity of buyer Checkpoint 3 Suitability of scheme Legal review meeting① Leg
Slide 51: Academic, industry & government collaboration – Our Response (2)
Academic, industry & government collaboration – Our Response （２） To assist the healthy development of the industry and improve standards Further strengthening of academic, industry and government collaboration New PR role - CPAO Methods to promote academic, industry and government collaboration Ou
Slide 52: Industry Trends – Our Response (3)
Industry Trends – Our Response （３） While M&A has become common, direct marketing towards small and medium-sized business owners has intensified M&A support companies are subject to comparative selections due to changes in the market environment Our company’s belief Our vision of the best M&A Compani
Slide 53: Industry Trends – Our Response (4)
Industry Trends – Our Response （4） Five supports to lead you from Completed mandate to Success Even in the unlikely event of a A company specialized breach of representations and in PMI support will warranties, we will provide support lead M&A to success. to maintain a good relationship. Japan's Fir
Slide 54: Business Environment
Business Environment
Slide 55: Distribution of the Age of Owners & Ratio of Companies with No Successor
（Reference） Distribution of the Age of Owners & Ratio of Companies with No Successor The per centage of SME owners aged over 70 shows an upward trend The ratio of companies with no successor is trending down, but still represents a majority Age distribution of SME owners Ratio of SMEs with no succes
Slide 56: Key Reasons for Companies Becoming Dormant, Closing Down or Being Broken Up
（Reference） Key Reasons for Companies Becoming Dormant, Closing Down or Being Broken Up Over half the companies which closed down are profitable The reason for about 30% of companies closing down is the lack of a successor Breakdown according to profit/loss of Reasons for companies closing down comp
Slide 57: Potential Market
Potential Market
Slide 58: Estimated Potential Demand for M&A Related to Business Succession
Estimated Potential Demand for M&A Related to Business Succession Potential demand for M&A of SMEs lacking a successor is forecast to peak in 2035, but still maintain a high annual volume of over 90,000 ＊1 Projection of potential demand for M&A of SMEs lacking a successor （sales over ￥100m, CEO age
Slide 59: M&A Potential Market Size
M&A Potential Market Size The potential market size for M&A of SMEs (sales over ¥100m) in the domestic market is ¥13.5 trillion Number of potential M&A target companies*2 Sales size Number of Potential SMEs*1 Business succession Business succession market size*3 focus not focus （CEO age over 60） （CE
Slide 60: Company Overview
Company Overview
Slide 61: Track record on Sales and Ordinary Profit since FY2009
(Reference) Track record on Sales and Ordinary Profit since FY2009 (¥mn) Consolidated sales 60,000 Consolidated ordinary profit 50,257 50,000 44,077 44,136 40,000 41,315 40,401 34,795 32,009 30,000 28,463 24,625 19,069 19,154 20,000 16,864 16,918 15,468 14,778 14,467 12,533 16,518 12,227 11,670 15,4
Slide 62: Corporate Profile
Corporate Profile (as of end-Jun 2026) Leading company in M&A intermediary services with a track record of over 11,000 completed transactions Company name Nihon M&A Center Holdings Inc. Established April 1991 *Transition to a holding company structure taken place in October 2021 Business outline Gro
Slide 63: Corporate History
Corporate History ★ We have been profitable since the second year of our history and have continuously paid a dividend Honorable Chairman Wakebayashi and President Miyake worked at Olivetti Japan, selling computers nationally to accounting firms and regional financial institutions. The current M&A n
Slide 64: Nationwide M&A information network
Business Model Nationwide M&A information network Providing corporates buying or selling with an abundance of information on deals, irrespective of location or sector, harnessing a nationwide network of financial institutions and accountants Information Network Information As of end-Jun 2026 Informa
Slide 65: The Strengths of Nihon M&A Center
The Strengths of Nihon M&A Center Never let any competitor catch up Differentiation through service, superiority without competing on price Strong systems for Very strong network for M&A information １ developing valuable Regional financial institutions, accountants, large financial information ins
Slide 66: Our Workflow as An M&A Intermediary
64 Copyright©2026 Nihon M&A Center Holdings Inc. All rights reserved. Post-disposal support Implementation PMI support support for disclosure Success Success Signing of definitive fee fee agreement, document exchange, settlement Negotiation of final terms Due diligence Interim Support for concluding
Slide 67: Becoming An Integrated M&A Company
Becoming An Integrated M&A Company Specialized high quality group companies Nihon M&A Center J-Capital Established in 1991. The top An intermediate holding company for closed deals in company the M&A intermediary overseeing the fund business services industry Japan PMI Consulting Japan Investment Fu
Slide 68: Nihon M&A Center Inc. Organization Structure
66 Corporate HQ Copyright©2026 Nihon M&A Center Holdings Inc. All rights reserved. General Affairs Dept. Finance & Accounting Dept. HR Dept. Nihon M&A Center Inc. Organization Structure （as of Apr 2026） Document Management Dept. Management Operations Legal Advisory Dept. HQ Risk Management Dept. Bus
Slide 69: Human Resource Development Plan
Human Resource Development Plan Achieving early development as well as strengthening the next generation A layered approach for thoroughness We aim to achieve fast results from the training Training Program Structure （excerpt） M&A consultants Corporate Staff Management ★Special training from top Exe
Slide 70: What We Do for Digital Transformation
What We Do for Digital Transformation Utilizing media & digital communication Digitalisation Awareness Lead creation greater efficiency to every component of the M&A process Awareness Lead creation Newspapers, Private company valuation system, Introductions Creation of potential buyer lists using ma
Slide 71: Transactions closed in FY2025
Transactions closed in FY2025 What size sellers does Nihon M&A Center support ？ * Calculated from deals closed in FY2025 Sales in a seller (¥mn) Number of employees in a seller More than More than 2,000 100 or less 100 employees 8.1％ 8.7％ 7.6％ 5 employees or less More than More than 50 to 1,000 to 2
Slide 72: Transactions closed in FY2025
Transactions closed in FY2025 We achieve optimal matching from our broad geological and sector reach * Calculated from deals closed in FY2025 Industries of companies sold Nihon M&A Center matching results Same Different Total Others Construction sector sector 23.6％ 24.6％ Same region 9.3 ％ 25.2 ％ 34.
Slide 73: Sustainability Initiatives
Sustainability Initiatives 2024 MSCI ESG Rating Raised to A Supporting the active participation of female Year 2019 2020 2021-2０23 ２０２４ ２０２５ consultants We are strengthening recruitment and supports of Score B BB BBB A A female M&A consultants, to achieve sustainable growth and become the best pla
Slide 74: Sustainability Initiatives
Sustainability Initiatives Published the “DIVERSITY & INCLUSION BOOK,” which summarizes our D&I initiatives (Mar 2026) 「DIVERSITY & INCLUSION BOOK 2025-2026」 We continue to implement initiatives to promote D&I. This booklet was created to introduce these initiatives, and this is its fourth publicati
Slide 75: Sustainability
Sustainability Integrated Report 2025 Simultaneous release of the Japanese and English editions (Nov 2025) Integrated Report 2025 Message from Top Roundtable Discussion Cover Dialogue with Stakeholders Management with Independent Directors The full version of the Integrated Report is available on ou
Slide 76: Our M&A intermediary activities provide economic benefits
Our M&A intermediary activities provide economic benefits Enabling the continual growth of society through sustaining and increasing employment 1 Number of Total revenues for the companies involved in the aforementioned FY2025 M&A contracts M&A contracts Basic information 487 ¥ 419.7 billion 2 Preve
Slide 77: Transactions Closed in Q1 (1/2)
Transactions Closed in Q1 (1/2) 95 transactions closed, 188*1 by number of companies Selling company Acquiring company Selling company Acquiring company Industry classification Region Industry classification Region Industry classification Region Industry classification Region 1 Pipe contractor Chugo
Slide 78: Transactions Closed in Q1 (2/2)
Transactions Closed in Q1 (2/2) Selling company Acquiring company Selling company Acquiring company Industry classification Region Industry classification Region Industry classification Region Industry classification Region 51 Can manufacture / sheet metal Kanto Construction materials wholesale Kant
Slide 79: Corporate ethos
日本M&AセンターHDのフィロソフィー 最後に Corporate ethos We contribute to the preservation and sustainable growth of businesses through M&A. Corporate Purpose To bring best-in-class M&A ever closer To connect hopes and dreams for the best M&A experience in Japan and then the world To investors Increase market value
Nihon M&A Center Holdings — Q1 2026 Earnings Presentation on 6ix