Kurashiru Lifts Q1 Revenue 25% to ¥4.77 Billion as Commerce Business Grows 33%

Kurashiru Inc. (TSE: 299A), the Tokyo-based operator of the kurashiru recipe-video and retail-media platform, reported consolidated results for the first quarter of the fiscal year ending March 2027 — the three months from April 1 to June 30, 2026 — under Japanese GAAP. Revenue was ¥4,767 million, operating profit ¥905 million, ordinary profit ¥910 million and net profit attributable to owners of the parent ¥604 million. Basic earnings per share came to ¥14.13 and diluted EPS to ¥13.52; comprehensive income was ¥608 million. The company prepared no consolidated financial statements for the first quarter of the year ended March 2026, so the tanshin carries no official year-on-year percentages; management instead compares the quarter with the prior-year non-consolidated period, on which basis revenue rose 25.2% from ¥3,808 million.

Commerce, not advertising, is now the growth engine

Kurashiru groups its activities into three lines within a single reporting segment: Media, which supplies cooking and lifestyle content; Purchase, the commerce and retail-media business that solves sales-promotion and store-traffic problems for retailers and food and beverage makers; and Other, chiefly the LIVEwith creator-management service. Media revenue rose 17.5% to ¥2,218 million, Purchase revenue rose 32.9% to ¥1,693 million and Other rose 32.4% to ¥855 million. The company credited the commerce gain to progress in signing up partner retailers and food and beverage clients and to a rising number of users taking part in Reshi-chare, its recipe-challenge programme. Purchase now accounts for 35.5% of group revenue, and management said it will keep converting the business mix from advertising income toward performance-based revenue.

Promotion spending trims the Non-GAAP margin

Gross profit rose 26.8% to ¥2,310 million and the gross margin widened to 48.5% from 47.8%, but selling, general and administrative expenses of ¥1,405 million absorbed most of that gain and left reported operating profit at ¥905 million. On the company's preferred measure — Non-GAAP operating profit, which adds back amortisation of acquisition-related intangibles and goodwill — profit rose 18.5% to ¥940 million, growing more slowly than the 25.2% top line. The Non-GAAP operating margin consequently fell to 19.7% from 20.8% a year earlier, a decline Kurashiru attributed to deliberate investment in digital advertising and sales promotion behind Reshi-chare. Non-GAAP net profit was ¥638 million, for Non-GAAP EPS of ¥14.93 and diluted Non-GAAP EPS of ¥14.29. Below the operating line, ¥11 million of non-operating income — including ¥6 million of interest and ¥3 million of foreign-exchange gains — against ¥5 million of non-operating expenses lifted ordinary profit slightly above operating profit, to ¥910 million; income taxes of ¥306 million left net profit at ¥604 million.

A balance sheet that is four-fifths equity

Total assets stood at ¥17,142 million at June 30, up ¥223 million from ¥16,919 million at the March 2026 year-end. Current assets were nearly flat at ¥14,403 million: cash and deposits rose ¥862 million to ¥9,968 million and prepaid expenses ¥136 million to ¥320 million, while securities fell ¥993 million to ¥1,500 million as commercial paper reached maturity. Non-current assets rose ¥189 million to ¥2,738 million, as investment securities gained ¥233 million to ¥520 million and goodwill amortised down ¥35 million to ¥585 million. Liabilities fell ¥424 million to ¥3,249 million: income taxes payable dropped ¥570 million to ¥329 million on tax payments, partly offset by a ¥121 million increase in the user-rewards provision to ¥1,381 million. Net assets rose ¥647 million to ¥13,893 million, almost entirely from retained earnings, and the equity ratio strengthened to 81.0% from 78.3%. Operating cash flow was a modest inflow of ¥57 million — pre-tax profit of ¥910 million was largely consumed by ¥848 million of income taxes paid — against a ¥230 million investing outflow for investment securities and a ¥38 million financing inflow from stock-option exercises, leaving cash and equivalents at ¥11,468 million, down ¥130 million.

Full-year plan intact; still no dividend

Kurashiru left the full-year forecast it published on May 1, 2026 untouched: revenue of ¥21,368 million (+25.7%), operating profit of ¥3,573 million (+3.2%), ordinary profit of ¥3,584 million (+2.2%), net profit of ¥2,468 million (+0.3%) and EPS of ¥57.93, alongside Non-GAAP operating profit of ¥3,716 million (+2.6%) and Non-GAAP net profit of ¥2,606 million (−0.2%) for Non-GAAP EPS of ¥61.15. The first quarter therefore represents about 22% of the full-year revenue plan but roughly 25% of both the operating-profit and Non-GAAP operating-profit plans — a profile that leaves the profit line running slightly ahead of a straight-line pace while revenue must accelerate through the rest of the year. The dividend forecast is likewise unrevised at ¥0.00 for the full year, matching the year ended March 2026, as the company continues to direct cash into growth. Shares issued rose to 42,882,260 from 42,618,560 as options were exercised, and the weighted average share count for the quarter was 42,766,605 against 41,381,869 a year earlier. Kurashiru prepared supplementary explanatory material and held a results briefing for institutional investors and analysts on July 30; the quarterly consolidated statements were not subject to review by a certified public accountant or auditing firm.

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.