Meiko Network Japan Co., Ltd. (TSE: 4668), which runs the "Meiko Gijuku" network of individualized-instruction cram schools, reported consolidated results for the nine months to May 31, 2026 (the first three quarters of its fiscal year ending August 2026) under Japanese GAAP. Revenue rose 5.3% to ¥18,509 million, but operating profit fell 26.2% to ¥829 million, ordinary profit dropped 22.8% to ¥926 million, and net profit attributable to owners of the parent fell 41.8% to ¥430 million. Basic earnings per share were ¥16.99, down from ¥29.29.
Growth investment squeezes margins
Revenue continued to climb as the group expanded its tutoring, English-language and childcare-support businesses, but profitability was compressed by up-front investment and higher personnel and operating costs. During the period the company added Meiko Mirai Co., Ltd. to its scope of consolidation. Comprehensive income fell 84.0% to ¥236 million.
Balance sheet and buyback
Total assets stood at ¥17,485 million and net assets at ¥12,161 million, for an equity ratio of 69.6%. The company retired shares during the year, cutting shares outstanding to 25.80 million from 27.80 million.
Dividend raised to ¥29
Meiko revised its dividend policy upward, now guiding a full-year dividend of ¥29.00 per share (¥14.00 interim + ¥15.00 year-end), up from ¥27.00 the previous year.
Full-year guidance
For the full year to August 2026 management guides revenue of ¥25,500 million (+2.7%), operating profit of ¥1,800 million (+6.4%) and ordinary profit of ¥1,870 million (+0.1%), but net profit of ¥1,010 million (-41.5%), with EPS of ¥39.98, as prior-year one-off gains are not expected to recur.
| Metric | 9M FY8/2026 | 9M FY8/2025 | YoY |
|---|---|---|---|
| Revenue (¥ billion) | 18.51 | 17.58 | +5.3% |
| Operating profit (¥ billion) | 0.83 | 1.12 | -26.2% |
| Ordinary profit (¥ billion) | 0.93 | 1.20 | -22.8% |
| Net profit attrib. to owners (¥ billion) | 0.43 | 0.74 | -41.8% |
| Basic EPS (¥) | 16.99 | 29.29 | -42.0% |
| Annual dividend (¥, forecast) | 29.00 | 27.00 | +7.4% |
| FY26 net profit guidance (¥ billion) | 1.01 | 1.73 | -41.5% |
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