Sansan Q1 Operating Profit Jumps Fourfold to ¥2.3 Billion as Bill One Grows 34% and Ad and Staff Cost Ratios Fall

Lower cost ratios lift margins

Sansan, Inc. (TSE: 4443), which turns business cards, invoices and contracts into structured data through cloud software combined with human operators, reported consolidated results for the first quarter of FY5/2027, June 1 to August 31, 2026, on October 9, 2026 under Japanese GAAP. Net sales rose 20.1% to ¥14,753 million and gross profit 19.8% to ¥12,926 million, a gross margin of 87.6%. Adjusted operating profit rose 328.3% to ¥2,475 million, lifting the adjusted margin by 12.1 points to 16.8%, mainly because advertising and personnel costs fell as a share of sales. Operating profit rose 339.8% to ¥2,321 million and net profit attributable to owners of the parent 418.4% to ¥1,545 million, or ¥12.32 per share against ¥2.36.

Segments

The Sansan/Bill One segment's sales rose 18.4% to ¥12,953 million and adjusted operating profit 306.3% to ¥2,734 million. Sansan sales rose 9.8% to ¥8,231 million, with recurring revenue up 12.1% to ¥7,797 million and contracts up 13.7% to 12,580 as small and mid-sized customers signed up. Bill One sales rose 34.4% to ¥4,067 million, monthly recurring revenue 33.0% to ¥1,311 million and paying contracts 28.6% to 5,468. Other services, led by the Contract One contract-management service, grew 57.6% to ¥654 million.

The Eight segment, built around the Eight business-card app, grew sales 32.6% to ¥1,719 million on event and recruitment services, including Eight Career, consolidated in January 2026. It posted an adjusted operating loss of ¥166 million, against ¥57 million a year earlier, as it added staff for growth in the second half, but expects an adjusted operating profit for the full year.

Balance sheet and outlook

Total assets fell 4.4% to ¥52,527 million and net assets were steady at ¥21,123 million, for an equity ratio of 38.1%. The company plans an annual dividend of ¥5.00 (¥2.50 interim and ¥2.50 year-end), against ¥2.50 for the previous year.

The full-year forecast, given as a range, is unchanged: net sales of ¥63,706–65,319 million (+18.5% to +21.5%), adjusted operating profit of ¥12,741–14,696 million, operating profit of ¥12,514–14,464 million and net profit attributable to owners of the parent of ¥8,376–10,221 million.

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.