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34692026 Q2 / First HalfStandardJGAAP

Dualtap (3469) FY2026 Q2 Earnings Report

For FY2026 Q2, revenue came to ¥3.1B (-13.8% year on year) and operating income ¥29.0M. The segment drivers and cash flow follow.

Dualtap Co.,Ltd.

Real Estate/Real Estate


Financial Highlights

  • Net Sales: ¥3.11B
  • Operating Income: ¥29M
  • Net Income: ¥-6M
  • EPS: ¥-2.10

Income Statement

ItemCurrentPriorYoY %
Net Sales¥3.11B¥3.61B−13.8%
Cost of Sales¥2.67B¥3.14B−15.0%
Gross Profit¥443M¥469M−5.6%
SG&A Expenses¥413M¥445M−7.4%
Operating Income¥29M¥23M+26.1%
Non-operating Income¥11M¥3M+292.6%
Non-operating Expenses¥39M¥34M+15.2%
Ordinary Income¥1M−¥7M+114.3%
Profit Before Tax¥2M¥57M−96.5%
Income Tax Expense¥8M¥17M−53.5%
Net Income−¥6M¥40M−114.9%
Net Income Attributable to Owners−¥8M¥38M−121.1%
Total Comprehensive Income−¥7M¥39M−117.9%
Depreciation & Amortization¥16M¥22M−26.6%
Interest Expense¥29M¥23M+26.9%
Basic EPS−¥2.10¥11.28−118.6%

Balance Sheet

ItemCurrent EndPrior EndChange
Current Assets¥3.91B¥4.02B−¥108M
Cash and Deposits¥1.22B¥1.33B−¥117M
Non-current Assets¥1.58B¥1.46B+¥120M
Property, Plant & Equipment¥1.25B¥1.27B−¥15M
Intangible Assets¥116M¥55M+¥61M
Goodwill¥113M¥52M+¥61M
Investment Securities¥27M¥24M+¥2M
Total Assets¥5.49B¥5.48B+¥12M
Current Liabilities¥1.66B¥1.58B+¥84M
Short-term Loans¥1.19B¥1.00B+¥187M
Non-current Liabilities¥1.25B¥1.56B−¥303M
Long-term Loans¥1.15B¥1.45B−¥302M
Total Liabilities¥2.91B¥3.13B−¥219M
Total Equity¥2.58B¥2.35B+¥231M
Capital Stock¥614M¥468M+¥146M
Capital Surplus¥548M¥402M+¥146M
Retained Earnings¥1.42B¥1.48B−¥59M
Treasury Stock−¥378,000−¥378,000¥0
Owners' Equity¥2.57B¥2.34B+¥232M
Working Capital¥2.25B--

Cash Flow Statement

ItemCurrentPriorChange
Operating Cash Flow−¥89M¥1.14B−¥1.23B
Investing Cash Flow−¥69M−¥18M−¥50M
Financing Cash Flow¥25M−¥1.06B+¥1.09B
Free Cash Flow−¥158M--

Profitability Ratios

ItemValue
Net Profit Margin−0.3%
Gross Profit Margin14.2%
Current Ratio235.6%
Quick Ratio235.6%
Debt-to-Equity Ratio1.13x
Interest Coverage Ratio1.01x
EBITDA Margin1.5%
Effective Tax Rate403.1%

Year-over-Year Comparison

ItemYoY Change
Net Sales YoY Change−13.8%
Operating Income YoY Change+27.6%
Profit Before Tax YoY Change−96.5%
Net Income YoY Change−114.9%
Net Income Attributable to Owners YoY Change−121.0%

Share Information

ItemValue
Shares Outstanding (incl. Treasury)4.38M shares
Treasury Stock527 shares
Average Shares Outstanding4.23M shares
Book Value Per Share¥589.32
EBITDA¥45M

Dividend Information

ItemAmount
Q2 Dividend¥0.00

Segment Information

SegmentRevenueOperating Income
OverseasRealEstate¥193M−¥3M
RealEstateManagement¥561M¥40M
RealEstateSales¥2.35B¥5M

Full Year Forecast

ItemForecast
Net Sales Forecast¥9.55B
Operating Income Forecast¥170M
Ordinary Income Forecast¥90M
Net Income Attributable to Owners Forecast¥50M
Basic EPS Forecast¥12.47
Dividend Per Share Forecast¥12.50