Eitai Nine-Month Revenue Jumps 20% to ¥2.6 Billion on New Temple-Cemetery Openings

Eitai Co., Ltd. (TSE: 369A) reported non-consolidated results for the first nine months of the fiscal year ending August 2026 (September 1, 2025 to May 31, 2026) under Japanese accounting standards. Revenue rose 19.5% to ¥2,596.7 million, operating profit increased 7.7% to ¥646.4 million and ordinary profit climbed 17.1% to ¥698.1 million. Net profit slipped 2.5% to ¥405.4 million, and earnings per share came to ¥95.67 (¥94.29 diluted), down from ¥103.94 a year earlier.

A niche consultancy for temple graves

Recently listed on the Tokyo Stock Exchange's Growth Market, Eitai — its name a romanization of the Japanese word for "perpetual" — is a single-segment temple-consulting firm. It helps Buddhist temples plan, develop and market eitai kuyō ("eternal repose") graves and cemetery plots, a form of perpetual-memorial burial in which the temple takes on long-term upkeep of the grave. The company handles customer acquisition and sales on behalf of the temples, a model that has grown alongside shifting attitudes toward family gravesites in Japan.

Website revamp lifts inquiries and conversion

The company renewed its service website during the period, lifting inquiry volume and the rate at which inquiries convert into signed contracts. After some upfront investment in the site relaunch, the improved conversion rate and tighter cost control pushed revenue above the internal target. Because quarterly statements were not prepared for the fiscal year ended August 2024, some year-on-year comparisons remain limited given the company's recent listing.

A dozen new cemetery sites opened

Eitai steadily expanded the number of temple sites it markets through the year, opening 12 new cemeteries: two in October 2025, two in November, one in December, two in January 2026, two in March, two in April and one in May. The rolling additions lifted company-wide revenue as each new site brought fresh inventory of grave plots to sell.

Impairment trims the bottom line

Although operating and ordinary profit both rose, net profit dipped 2.5% because an impairment loss was booked in the first half of the year. The balance sheet stayed sturdy: total assets reached ¥4,103.7 million, up ¥222.7 million from the prior year-end, while net assets stood at ¥3,260 million for an equity ratio of 79.5%.

Full-year guidance unchanged; dividend raised

Eitai left its full-year forecast for the year to August 2026 intact: revenue of ¥3,415 million (+16.6%), operating profit of ¥859 million (+20.5%), ordinary profit of ¥856 million (+21.4%) and net profit of ¥569 million (+24.4%), with EPS of ¥134.49. Management plans an annual dividend of ¥54.00 per share (¥27.00 interim + ¥27.00 year-end), up from ¥46.00 the previous year, when the full payout was made at year-end.

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.