Optimus Group Company Limited (TSE: 9268), a vehicle import and distribution group centred on the New Zealand market, reported consolidated full-year results for the fiscal year ended March 31, 2026 (FY3/2026) under IFRS — its first year applying the international standard, with the prior period also restated to IFRS for comparison. Revenue rose 17.3% year-on-year to ¥315,507 million, while operating profit climbed 10.5% to ¥9,837 million from ¥8,900 million. Pre-tax profit jumped 53.9% to ¥4,496 million, and profit attributable to owners of the parent nearly doubled, rising 89.2% to ¥2,469 million from ¥1,305 million. Basic EPS reached ¥36.16 versus ¥19.83, with diluted EPS of ¥36.15.
New Zealand recovery underpins the top line
Management attributed the improvement to a gradual recovery in the New Zealand economy, the group's principal market, where business conditions steadily strengthened over the year and forward uncertainty broadly receded. Strong vehicle demand drove the double-digit revenue gain, though the operating margin eased to 3.1% from 3.3% as growth was led by higher-volume distribution activity. The much faster growth below the operating line — pre-tax profit up 53.9% and owners' profit up 89.2% — reflects a sharply reduced drag from financing and non-operating items year-on-year, despite a wider equity-method loss of ¥203 million (versus a ¥95 million loss a year earlier).
Profitability and comprehensive income
The pre-tax margin widened to 2.3% from 1.9%, and return on equity attributable to owners of the parent improved to 7.4% from 5.9%. Total comprehensive income surged to ¥8,611 million from just ¥860 million a year earlier — a ninefold increase — boosted by currency-translation gains on the group's New Zealand operations as foreign-exchange movements turned favourable for the yen-reporting parent. The result confirms a marked step-up in earnings quality after a period in which non-operating costs had heavily compressed the bottom line.
Balance sheet strengthens markedly
Total assets expanded to ¥214,470 million from ¥163,088 million as the group carried higher inventory and receivables to support its larger sales base. Total equity rose to ¥43,148 million from ¥26,313 million, and equity attributable to owners of the parent increased to ¥41,984 million from ¥25,076 million. The parent equity ratio improved to 19.6% from 15.4%, and book value per share rose to ¥613.42 from ¥367.35 — a substantial strengthening of the capital base alongside the earnings recovery.
Cash flow swings positive
Operating cash flow strengthened sharply to ¥7,743 million from just ¥689 million a year earlier. Investing activities used ¥9,389 million (an improvement from the ¥15,928 million outflow in the prior year), while financing activities provided ¥6,577 million as the group drew on funding to support working capital and growth. Period-end cash and cash equivalents stood at ¥12,084 million, broadly stable against ¥12,970 million a year earlier.
Dividend and capital policy
Optimus declared an annual dividend of ¥18.00 per share (¥8.00 interim + ¥10.00 year-end), matching the prior year, for a consolidated payout ratio of 49.8% and total dividends of ¥1,228 million. The group has adopted a dividend-on-equity (DOE) framework, targeting a consolidated DOE of around 4.5% to deliver stable and progressive returns through the cycle; this year's DOE came to 3.7%. For FY3/2027 it again plans a ¥18.00 annual dividend, with the year-end set at ¥10.00 — emphasising the company's preference for steady, equity-linked distributions regardless of short-term profit swings.
FY27 guidance: double-digit growth across the board
For FY3/2027, management guides to revenue of ¥380,000 million (+20.4%) and operating profit of ¥11,900 million (+21.0%), with pre-tax profit of ¥5,000 million (+11.2%) and net profit of ¥3,700 million (+36.1%). Profit attributable to owners is forecast at ¥3,200 million (+29.6%), implying basic EPS of ¥46.75. The outlook assumes continued momentum in the New Zealand market and reflects management's confidence that the recovery seen in FY3/2026 will carry into the new year.
| Metric | FY3/2026 | FY3/2025 | YoY |
|---|---|---|---|
| Revenue (¥ million) | 315,507 | 268,825 | +17.3% |
| Operating profit (¥ million) | 9,837 | 8,900 | +10.5% |
| Pre-tax profit (¥ million) | 4,496 | 2,919 | +53.9% |
| Net profit (¥ million) | 2,719 | 1,813 | +49.9% |
| Net profit attrib. to owners (¥ million) | 2,469 | 1,305 | +89.2% |
| Total comprehensive income (¥ million) | 8,611 | 860 | +900.2% |
| Basic EPS (¥) | 36.16 | 19.83 | +82.4% |
| Operating margin | 3.1% | 3.3% | -0.2pp |
| ROE (attrib. to owners) | 7.4% | 5.9% | +1.5pp |
| Annual dividend (¥) | 18.00 | 18.00 | ±0.0% |
| FY27 revenue guidance (¥ million) | 380,000 | — | +20.4% |
| FY27 operating profit guidance (¥ million) | 11,900 | — | +21.0% |
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.