usonar Interim Net Profit Rises 35% as Its 30-Year Corporate Database Rides the AI Investment Cycle

A small company earning a software margin

usonar Inc. (TSE: 431A) published non-consolidated results for the six months to June 30, 2026 on August 7, 2026 under Japanese GAAP. Net sales rose 13.8% to ¥4,077 million, operating profit 13.4% to ¥931 million, ordinary profit 15.0% to ¥943 million and net profit 34.5% to ¥608 million, for earnings per share of ¥74.03 against ¥57.90.

The operating margin was 22.8% against 22.9% — essentially held while the business grew 13.8%. Net profit grew far faster than the operating line, so the improvement below operating profit is doing real work; ordinary profit exceeded operating profit in both periods, which for a company this size usually means non-operating income rather than anything structural.

One caveat on the comparison: the company did not prepare interim financial statements for the first half of FY12/2024, so the prior-year period carries no year-on-year percentages of its own. This is the second half-year for which a like-for-like comparison exists at all.

What the company actually sells

usonar's asset is LBC, a corporate database it has built itself over roughly 30 years, accumulating data collected by hand. The company's argument for why that matters now is specific: generative AI cannot acquire information that exists only in analogue form — paper and the like — and by supplementing that gap the database provides the stable data foundation that increasingly sophisticated and complex AI requires.

It positions itself as a "corporate-information infrastructure company supporting DX and AI", and reads the current environment as a tailwind: corporate IT investment aimed at operational efficiency, productivity and more advanced use of data has held firm, and in this period the use of generative AI shifted phase from experimental adoption to base technology — a change the company describes as fundamentally transforming how society and business work.

Balance sheet, guidance and no dividend

Total assets rose 21.1% from the December year-end to ¥8,875 million and net assets 16.6% to ¥4,986 million, so the equity ratio eased to 56.2% from 58.4% — assets growing faster than equity, which at this scale is a growth balance sheet rather than a leverage story.

Full-year FY12/2026 guidance is unchanged: net sales of ¥8,280 million (+15.1%), operating profit of ¥1,764 million (+26.9%), ordinary profit of ¥1,762 million (+27.9%) and net profit of ¥1,056 million (+18.8%), for earnings per share of ¥128.07.

The half delivered 52.8% of the full-year operating-profit target on 49.2% of the sales target — but note that the guidance implies full-year operating-profit growth of 26.9% against 13.4% in the half just reported, so the second half is expected to be materially stronger on profitability. No dividend is planned, as in FY12/2025. Per-share figures are on a post-split basis following the 1,000-for-1 stock split of July 10, 2025.

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.