World Holdings (2429) Q2 2026 earnings summary

Executive summary

• Net sales for the first half of 2026 increased 5.0% year-over-year to ¥138,366 million, surpassing the initial plan, driven by strong demand in the Manufacturing HR Business despite geopolitical risks.

• Operating profit for the first half was ¥4,249 million, down 14.6% year-over-year but 20.4% above plan.

• Profit attributable to owners declined 28.2% year-over-year to ¥1,903 million, mainly due to the timing of property deliveries in the Real Estate Business.

• Comprehensive income for the period was ¥2,544 million, down 21.5% year-over-year.

• No change in the full-year plan for consolidated sales and profit growth.

Financial highlights

• Net sales for FY2026 2Q were ¥138,366 million, up 5.0% year-over-year and 2.2% above plan.

• Operating profit was ¥4,249 million, down 14.6% year-over-year but 20.4% above plan.

• Ordinary profit reached ¥4,094 million, a 15.1% year-over-year decrease but 19.7% above plan.

• Profit attributable to owners was ¥1,903 million, down 28.2% year-over-year but 27.1% above plan.

• EBITDA for the first half was ¥5,585 million.

• Net income per share for the period was ¥106.60, compared to ¥148.11 in the prior year.

• Total assets as of June 30, 2026, were ¥200,409 million, up from ¥185,692 million at year-end 2025.

• Net assets stood at ¥52,930 million, with an equity ratio of 24.4%.

Outlook and guidance

• FY2026 full-year net sales are projected at ¥300,326 million, a 5.6% increase year-over-year.

• Operating profit is forecast at ¥12,500 million, up 15.5% year-over-year.

• Profit attributable to owners of parent is forecast at ¥6,966 million, up 5.2% year-over-year.

• Net income per share is expected to rise to ¥389.29, with a dividend per share of ¥136.30.

• Most Real Estate Business profits are expected in 4Q, with HR and Education Business profits weighted to the second half.

• The impact of nms Holdings Co., Ltd. inclusion will be announced after further examination.