GMO Payment Gateway, Inc. (TSE: 3769), Japan's largest online-payment processor and the core operating company of the GMO Internet Group's payment business, reported a strong first half of its fiscal year ending September 2026, in figures disclosed on May 15, 2026. For the six months from October 1, 2025 to March 31, 2026, consolidated revenue rose 13.1% year-on-year to ¥46,084 million under IFRS, while operating profit climbed 22.7% to ¥18,792 million. Pre-tax profit increased 19.8% to ¥18,867 million, profit for the period rose 22.1% to ¥12,537 million, and profit attributable to owners of the parent advanced 22.3% to ¥12,042 million, up from ¥9,849 million a year earlier. Basic earnings per share were ¥158.60 (diluted ¥156.72), against ¥129.85.
Operating profit again outpaced revenue, a hallmark of the company's scale economics: as transaction volumes grow across its processing platform, incremental revenue carries high margins. The result confirms GMO Payment Gateway's standing as a bellwether of Japan's continued shift toward cashless payment, with growth driven by rising merchant adoption and higher per-merchant transaction values.
Payment processing and money services power growth
GMO Payment Gateway provides online comprehensive payment-processing — its payment gateway connecting merchants to card networks and alternative payment methods — alongside a money-service business and a payment-enhancement business. Across all three, expanding e-commerce, recurring-billing and embedded-finance demand lifted transaction volumes through the half. As Japan's cashless-payment ratio continues to climb toward government targets, the company's processing franchise benefits structurally from each incremental shift away from cash, giving its top line a durable secular tailwind on top of cyclical e-commerce growth.
Balance sheet expands with the payments float
Total assets stood at ¥451,535 million at the half-year mark, reflecting the large settlement balances and float inherent to a payment-processing business. Total equity was ¥120,669 million, of which equity attributable to owners of the parent was ¥117,276 million, giving an equity-to-assets ratio of 26.0% — a structurally lower ratio than an industrial company, but normal for a processor that carries substantial merchant-settlement liabilities on its balance sheet.
Dividend forecast raised to ¥170; full-year guidance reaffirmed
GMO Payment Gateway lifted its dividend forecast for the year ending September 2026 to ¥170.00 per share at year-end, up from ¥144.00, continuing a steady progression in shareholder returns. For the full year, the company guides for revenue of ¥93,235 million (+13.0%) and operating profit of ¥37,639 million (+20.1%), with pre-tax profit of ¥36,119 million (+13.2%), net profit of ¥24,284 million (+7.7%) and profit attributable to owners of ¥23,406 million (+7.2%), equivalent to EPS of ¥308.58. With first-half profit attributable to owners already representing about 51% of the full-year target, the company is tracking comfortably against its guidance.
| Metric | H1 FY9/2026 | H1 FY9/2025 | YoY |
|---|---|---|---|
| Revenue (¥ million) | 46,084 | 40,757 | +13.1% |
| Operating profit (¥ million) | 18,792 | 15,314 | +22.7% |
| Pre-tax profit (¥ million) | 18,867 | 15,752 | +19.8% |
| Profit attrib. to owners (¥ million) | 12,042 | 9,849 | +22.3% |
| EPS (¥) | 158.60 | 129.85 | +22.1% |
| Total assets (¥ million) | 451,535 | — | — |
| Total equity (¥ million) | 120,669 | — | — |
| Equity ratio | 26.0% | — | — |
| Annual dividend forecast (¥) | 170.00 | 144.00 | +18.1% |
| FY guidance — revenue (¥ million) | 93,235 | — | +13.0% |
| FY guidance — operating profit (¥ million) | 37,639 | — | +20.1% |
| FY guidance — net profit (attrib.) (¥ million) | 23,406 | — | +7.2% |
JapanStockPulse provides informational content only and does not constitute investment advice. Figures are taken from the company's published earnings short report and may be subject to subsequent revision.