Translation
Notice: This document is an excerpt translation of the original Japanese document and is only for reference purposes. In the event of any discrepancy between this translated document and the original Japanese document, the latter shall prevail.
Company name: Aoyama Zaisan Networks Co., Ltd. Stock exchange listing: Tokyo
Stock code: 8929 URL https://www.azn.co.jp/
Representative: President Masazumi Hasumi Executive Officer
May 15, 2026
Inquiries:
General Manager, Corporate Finance Division
Seiichi Ishikawa TEL 03-6439-5800
Scheduled date to commence dividend payments: -Preparation of supplementary material on financial results: Yes Holding of financial results meeting: No
(Amounts less than one million yen are rounded down)
Consolidated financial results for the three months ended March 31, 2026 (from January 1, 2026 to March 31, 2026)
Consolidated operating results (cumulative) Percentages indicate year-on-year changes
Net sales
Operating profit
Ordinary profit
Profit attributable to owners of parent
Millions of yen
%
Millions of yen
%
Millions of yen
%
Millions of yen
%
Three months ended March 31, 2026
7,582
(34.1)
913
20.9
910
33.2
581
42.1
Three months ended March 31, 2025
11,513
23.8
755
(9.3)
683
(18.2)
408
(32.8)
Earnings per share
Diluted earnings per share
Yen
Yen
Three months ended March 31, 2026
24.23
24.22
Three months ended March 31, 2025
17.08
17.07
Consolidated financial position
Total assets
Net assets
Equity ratio
Net assets per share
Millions of yen
Millions of yen
%
Yen
As of March 31, 2026
30,051
11,583
38.4
480.70
As of December 31, 2025
26,278
11,712
44.4
486.24
Cash dividends
Annual dividends per share
1st quarter-end
2nd quarter-end
3rd quarter-end
Fiscal year-end
Total
Yen
Yen
Yen
Yen
Yen
Year ended December 31, 2025
-
20.00
-
33.00
53.00
Year ending December 31, 2026
-
Year ending December 31, 2026 (Forecast)
23.00
-
35.00
58.00
Forecast of consolidated financial results for the year ending December 31, 2026 (from January 1, 2026 to December 31, 2026)
Percentages indicate year-on-year changes
Net sales
Operating profit
Ordinary profit
Profit attributable to owners of parent
Earnings per share
Full year
Millions of yen
%
Millions of yen
%
Millions of yen
%
Millions of yen
%
Yen
39,000
(6.7)
4,000
3.7
3,850
2.5
2,650
(3.6)
110.51
Notes
Significant changes in the scope of consolidation during the three months ended March 31, 2026: No
Application of special accounting methods for preparing quarterly consolidated financial statements: No
Changes in accounting policies, changes in accounting estimates, and restatement of prior period financial statements Changes in accounting policies due to revisions to accounting standards and other regulations: No Changes in accounting policies due to other reasons: No
Changes in accounting estimates: No
Restatement of prior period financial statements: No
Number of issued shares (common shares)
As of March 31, 2026 | 25,125,059 | shares | As of December 31, 2025 | 25,123,859 | shares |
As of March 31, 2026 | 1,145,250 | shares | As of December 31, 2025 | 1,145,250 | shares |
Total number of issued shares at the end of the period (including treasury shares) Number of treasury shares at the end of the period
Average number of shares during the period (cumulative from the beginning of the fiscal year)
Three months ended March 31, 2026 | 23,979,369 | shares | Three months ended March 31, 2025 | 23,945,647 | shares |
(Millions of yen) | ||
As of December 31, 2025 | As of March 31, 2026 | |
Assets | ||
Current assets | ||
Cash and deposits | 14,099 | 14,353 |
Accounts receivable - trade | 798 | 719 |
Real estate for sale | 4,163 | 7,165 |
Other inventories | 6 | 3 |
Other | 502 | 564 |
Allowance for doubtful accounts | (2) | (0) |
Total current assets | 19,568 | 22,806 |
Non-current assets | ||
Property, plant and equipment | ||
Buildings and structures, net | 258 | 252 |
Land | 1 | 1 |
Other, net | 68 | 62 |
Total property, plant and equipment | 327 | 317 |
Intangible assets | ||
Goodwill | 1,164 | 1,132 |
Contract-based intangible assets | 2,336 | 2,302 |
Software | 104 | 161 |
Other | 19 | 18 |
Total intangible assets | 3,624 | 3,614 |
Investments and other assets | ||
Investment securities | 2,106 | 2,839 |
Shares of subsidiaries and associates | 39 | 39 |
Deferred tax assets | 243 | 67 |
Other | 367 | 366 |
Total investments and other assets | 2,757 | 3,313 |
Total non-current assets | 6,709 | 7,244 |
Total assets | 26,278 | 30,051 |
(Millions of yen) | ||
As of December 31, 2025 | As of March 31, 2026 | |
Liabilities | ||
Current liabilities | ||
Accounts payable - trade | 296 | 391 |
Short-term borrowings | 100 | 4,100 |
Current portion of long-term borrowings | 2,216 | 2,301 |
Current portion of bonds payable | 20 | 20 |
Accounts payable - other | 1,907 | 976 |
Income taxes payable | 505 | 199 |
Provision for bonuses | - | 413 |
Other | 1,014 | 1,185 |
Total current liabilities | 6,060 | 9,587 |
Non-current liabilities | ||
Bonds payable | 50 | 40 |
Long-term borrowings | 3,826 | 4,031 |
Long-term leasehold and guarantee deposits received | 3,767 | 3,953 |
Long-term accounts payable - other | 41 | 40 |
Deferred tax liabilities | 818 | 813 |
Other | 1 | 0 |
Total non-current liabilities | 8,505 | 8,880 |
Total liabilities | 14,566 | 18,467 |
Net assets | ||
Shareholders' equity | ||
Share capital | 1,271 | 1,272 |
Capital surplus | 2,094 | 2,095 |
Retained earnings | 9,714 | 9,503 |
Treasury shares | (1,954) | (1,954) |
Total shareholders' equity | 11,126 | 10,917 |
Accumulated other comprehensive income | ||
Valuation difference on available-for-sale securities | 591 | 671 |
Foreign currency translation adjustment | (58) | (61) |
Total accumulated other comprehensive income | 532 | 609 |
Share acquisition rights | 22 | 21 |
Non-controlling interests | 31 | 34 |
Total net assets | 11,712 | 11,583 |
Total liabilities and net assets | 26,278 | 30,051 |
(Millions of yen) | ||
Three months ended March 31, 2025 | Three months ended March 31, 2026 | |
Net sales | 11,513 | 7,582 |
Cost of sales | 9,690 | 5,630 |
Gross profit | 1,823 | 1,951 |
Selling, general and administrative expenses | 1,068 | 1,037 |
Operating profit | 755 | 913 |
Non-operating income | ||
Interest income | 8 | 14 |
Foreign exchange gains | - | 3 |
Other | 3 | 13 |
Total non-operating income | 12 | 30 |
Non-operating expenses | ||
Interest expenses | 24 | 24 |
Commission expenses | 23 | 9 |
Foreign exchange losses | 36 | - |
Other | 0 | 0 |
Total non-operating expenses | 84 | 34 |
Ordinary profit | 683 | 910 |
Extraordinary losses | ||
Loss on retirement of non-current assets | 1 | - |
Total extraordinary losses | 1 | - |
Profit before income taxes | 681 | 910 |
Income taxes - current | 210 | 190 |
Income taxes - deferred | 44 | 134 |
Total income taxes | 254 | 324 |
Profit | 426 | 585 |
Profit attributable to non-controlling interests | 17 | 4 |
Profit attributable to owners of parent | 408 | 581 |
(Millions of yen) | ||
Three months ended March 31, 2025 | Three months ended March 31, 2026 | |
Profit | 426 | 585 |
Other comprehensive income | ||
Valuation difference on available-for-sale securities | 32 | 79 |
Foreign currency translation adjustment | 12 | (3) |
Total other comprehensive income | 44 | 76 |
Comprehensive income | 471 | 661 |
Comprehensive income attributable to | ||
Comprehensive income attributable to owners of parent | 453 | 657 |
Comprehensive income attributable to non-controlling interests | 17 | 4 |