Asia Air Survey (9233) FY2026 Q1 Earnings Report

Financial Highlights

Item	Current	Prior	YoY %
Net Sales	¥8.85B	¥8.50B	+4.1%
Cost of Sales	¥6.70B	¥6.70B	−0.0%
Gross Profit	¥2.15B	¥1.80B	+19.6%
SG&A Expenses	¥2.04B	¥2.02B	+0.9%
Operating Income	¥112M	−¥222M	+150.5%
Non-operating Income	¥34M	¥27M	+22.6%
Non-operating Expenses	¥169M	¥138M	+22.7%
Ordinary Income	−¥22M	−¥332M	+93.4%
Profit Before Tax	−¥24M	−¥276M	+91.3%
Income Tax Expense	¥114M	¥46M	+147.4%
Net Income	−¥138M	−¥322M	+57.1%
Net Income Attributable to Owners	−¥145M	−¥324M	+55.2%
Total Comprehensive Income	−¥58M	−¥107M	+45.8%
Interest Expense	¥38M	¥19M	+106.0%
Basic EPS	−¥7.98	−¥17.83	+55.2%

Item	Current End	Prior End	Change
Current Assets	¥28.15B	¥23.40B	+¥4.74B
Cash and Deposits	¥3.38B	¥4.71B	−¥1.33B
Accounts Receivable	¥22.33B	¥16.82B	+¥5.51B
Non-current Assets	¥16.42B	¥16.22B	+¥194M
Property, Plant & Equipment	¥5.68B	¥5.48B	+¥203M
Intangible Assets	¥2.99B	¥3.09B	−¥94M
Goodwill	¥1.28B	¥1.27B	+¥7M
Investment Securities	¥5.52B	¥5.47B	+¥54M
Total Assets	¥44.56B	¥39.63B	+¥4.94B
Current Liabilities	¥17.44B	¥11.97B	+¥5.48B
Accounts Payable	¥1.15B	¥2.19B	−¥1.05B
Short-term Loans	¥10.73B	¥3.50B	+¥7.23B
Non-current Liabilities	¥5.47B	¥5.41B	+¥53M
Long-term Loans	¥193M	¥206M	−¥14M
Total Liabilities	¥22.91B	¥17.38B	+¥5.53B
Total Equity	¥21.66B	¥22.25B	−¥591M
Capital Stock	¥1.67B	¥1.67B	¥0
Capital Surplus	¥2.69B	¥2.69B	¥0
Retained Earnings	¥14.94B	¥15.61B	−¥674M
Treasury Stock	−¥131M	−¥131M	−¥79,000
Owners' Equity	¥21.36B	¥21.96B	−¥605M
Working Capital	¥10.71B	-	-

Item	YoY Change
Net Sales YoY Change	+4.1%

Item	Value
Shares Outstanding (incl. Treasury)	18.61M shares
Treasury Stock	419K shares
Average Shares Outstanding	18.20M shares
Book Value Per Share	¥1,190.30

Item	Forecast
Net Sales Forecast	¥45.00B
Operating Income Forecast	¥3.00B
Ordinary Income Forecast	¥3.07B
Net Income Attributable to Owners Forecast	¥2.03B
Basic EPS Forecast	¥111.57
Dividend Per Share Forecast	¥44.00