e-SUPPORTLINK Swings to a Nine-Month Net Loss of ¥12 Million as Produce-Counter Start-Up Costs and Agriculture Weigh, and Revises Its Full-Year Forecast

Sales up, profit squeezed by new ventures

e-SUPPORTLINK, Ltd. (TSE: 2493), a Tokyo-based provider of supply-chain, IT and sourcing services for Japan's fresh-produce trade, published consolidated results for the first nine months of FY11/2026, the period from December 1, 2025 to August 31, 2026, on October 1, 2026 under Japanese GAAP. Net sales rose 3.4% to ¥4,905 million, but operating profit fell 30.8% to ¥44 million and ordinary profit 12.4% to ¥70 million. The group swung to a net loss attributable to owners of the parent of ¥12 million, or ¥2.82 per share, from a profit of ¥18 million. Prior-year figures were restated to reflect the final purchase-price allocation for the December 2024 acquisition of Frontier, which raised last year's operating profit by ¥12 million.

Gross profit rose only 1.7% to ¥1,596 million while selling, general and administrative expenses rose 3.1% to ¥1,551 million. Dividend income and subsidies lifted non-operating income to ¥35 million, so ordinary profit fell less than operating profit. Income taxes then rose to ¥82 million from ¥61 million, more than the whole of pre-tax profit; the company computes its interim tax charge from an estimated annual effective rate, or from the statutory rate where the estimate would produce an unreasonable result.

Operations Support grows; the produce-counter business lags

The Operations Support segment grew revenue 2.3% to ¥3,059 million and profit 2.3% to ¥980 million. The imported-produce supply-chain business improved profitability through revised service fees, and the fresh-merchandising system business was busy integrating systems for retail groups that have merged. Its local-vegetable procurement service grew sales and profit despite delayed adoption at some retailers. The business that builds and runs fruit-and-vegetable counters for retailers was moved into a newly established operating subsidiary, Marche Plus, and kept adding stores, but it fell short of plan: relationships with drugstores progressed, yet difficulty finding partner companies stalled roll-outs, and the costs of building the organisation came first.

Apples and sweet potatoes weigh on Agricultural Support

Agricultural Support grew revenue 5.4% to ¥1,846 million, but its segment loss widened to ¥179 million from ¥157 million. Heavy snow, high temperatures and damage from birds and animals cut the 2025 apple crop and pushed up purchase costs at producing-area markets, which the company tried to offset with higher selling prices, while investment in its own apple growing came ahead of returns. It also deliberately slowed sales of sweet potatoes, its main produce line, while it tightened credit management ahead of planned volume growth. The organic-produce business beat its plan on imported produce and on its own kale and carrots.

Forecast revised; dividend kept

Total assets rose 4.5% to ¥6,378 million from November 30, 2025, mainly on ¥386 million more cash, while short-term borrowings rose by ¥400 million to ¥550 million. Net assets fell to ¥3,667 million and the equity ratio to 57.5% from 60.7%. In a separate notice the company revised its FY11/2026 forecast to net sales of ¥6,876 million (+6.3%), operating profit of ¥91 million (−35.6%) and ordinary profit of ¥117 million (−25.4%); the summary filing does not give a net-profit forecast or restate the previous one. The revised operating-profit figure implies about ¥47 million in the fourth quarter. The year-end dividend forecast is unchanged at ¥5.00, the same as FY11/2025.

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.