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Inc.","jir_importance":"\u2605\u2605\u2605\u2605\u2605","jir_publication_date":"2026-01-14","jir_source_link":"https:\/\/japanir.jp\/wp-content\/uploads\/2026\/01\/3994-20260114-01.pdf","jir_short_summary":"Consolidated net sales for the November 2025 fiscal year were \u00a550,349 million (up 24.7% YoY), adjusted EBITDA was \u00a54,963 million (up 166.2% YoY), and net income attributable to owners of parent turned profitable at \u00a51,587 million.","jir_summary":"### Performance Overview\nConsolidated net sales for the November 2025 fiscal year were \u00a550,349 million, an increase of 24.7% YoY, and SaaS ARR grew to \u00a539,333 million (up 31.1% YoY), demonstrating accelerated growth. Adjusted EBITDA improved significantly to \u00a54,963 million (up 166.2% YoY), and the operating loss narrowed to \u00a52,653 million. Net income attributable to owners of parent turned profitable at \u00a51,587 million. By segment, the Business segment drove growth through increased corporate customer acquisition and AI feature development, while the Home segment saw steady premium subscription revenue. The X segment, Finance segment, and SaaS Marketing segment each fulfilled their respective roles.\n\n### Financial Position and Cash Flow Status\nTotal assets rose to \u00a5127,567 million (an increase of \u00a521,375 million YoY), and net assets increased to \u00a555,865 million (an increase of \u00a511,189 million YoY). The equity ratio declined slightly to 32.0% from 33.3% in the previous year period. Cash flow from operating activities turned positive at \u00a51,496 million, cash flow from investing activities was negative \u00a510,339 million, and cash flow from financing activities was positive \u00a54,570 million. Cash and cash equivalents at the end of the period totaled \u00a540,934 million.\n\n### Earnings Forecast and Medium- to Long-Term Policies for November 2026 Fiscal Year\nFor the November 2026 fiscal year, consolidated net sales are forecasted at \u00a553,400\u201357,550 million (up 6.1\u201314.3% YoY), with adjusted EBITDA expected at \u00a58,000\u201310,000 million (up 61.2\u2013101.5% YoY). Operating income is projected at \u25b3\u00a52,500\u2013500 million, aiming for the first full-year profitability at the upper range. Medium- to long-term goals include net sales exceeding \u00a590,000 million, EBITDA over \u00a527,000 million, and business cash flow over \u00a518,000 million. The company plans to focus management resources particularly on the Business segment while promoting cost efficiency.\n\n### Investment Policy and Enhancement of Corporate Value\nThe company continues proactive investment primarily in the Business and SaaS Marketing segments, focusing on brand awareness and new customer acquisition. Planned upfront investment costs in the November 2025 fiscal year amounted to \u00a511,514 million; advertising and personnel expenses were controlled below plan, while the number of corporate customers grew 21.6% YoY. Investment will continue in the November 2026 fiscal year with strict cost-effectiveness evaluation, aiming to improve the CAC Payback Period. Additionally, the scope of consolidation for the SaaS Marketing segment was revised following the transfer of shares in Smartcamp Inc.\n\n### M&A and Business Restructuring\nIn December 2024, the company acquired Outlook Consulting Inc., recognizing goodwill of \u00a51,825,378 thousand. In November 2025, all shares of Smartcamp Inc. were transferred, recording a gain on sale of affiliated company shares of \u00a56,172,437 thousand as special income. Furthermore, a tender offer was conducted for Outlook Consulting Inc., aiming for full subsidiary status.","jir_financial_highlights":"Net Sales: \u00a550,349 million (Up 24.7% YoY)\nSaaS ARR: \u00a539,333 million (Up 31.1% YoY)\nAdjusted EBITDA: \u00a54,963 million (Up 166.2% YoY)\nOperating Income: \u25b3\u00a52,653 million (Previous year period operating loss of \u25b3\u00a54,735 million)\nOrdinary Income: \u25b3\u00a53,877 million (Previous year period ordinary loss of \u25b3\u00a55,353 million)\nNet Income Attributable to Owners of Parent: \u00a51,587 million (Previous year period net loss of \u25b3\u00a56,330 million)\nEquity Ratio: 32.0% (Decreased from 33.3% YoY)\nShares Outstanding at Period End: 55,524,779 shares (Increased YoY)\nAnnual Dividend: \u00a50.00 (Unchanged from previous year period)\nNet Sales Forecast for November 2026 Fiscal Year: \u00a553,400\u201357,550 million (Up 6.1\u201314.3% YoY)\nAdjusted EBITDA Forecast for November 2026 Fiscal Year: \u00a58,000\u201310,000 million (Up 61.2\u2013101.5% YoY)\nOperating Income Forecast for November 2026 Fiscal Year: \u25b3\u00a52,500\u2013500 million (Projected turnaround to profitability (upper limit))","jir_category":"","jir_hashtags":"#MoneyForward, #FinancialSummary, #SaaS, #Fintech, #JapaneseStocks","jir_key_figures":"Net Sales: \u00a550,349 million (up 24.7% YoY)\nAdjusted EBITDA: \u00a54,963 million (up 166.2% YoY)\nNet Income Attributable to Owners of Parent: \u00a51,587 million (turnaround to profit)\nEquity Ratio: 32.0% (33.3% in prior year)\nNet Sales Forecast for November 2026 Fiscal Year: \u00a553,400\u201357,550 million (up 6.1\u201314.3% YoY)\nAdjusted EBITDA Forecast for November 2026 Fiscal Year: \u00a58,000\u201310,000 million (up 61.2\u2013101.5% YoY)\nGain on Sale of Shares in Smartcamp Inc.: \u00a56,172,437 thousand\nGoodwill for Outlook Consulting Inc.: \u00a51,825,378 thousand\nShares Outstanding at Period End: 55,524,779 shares","jir_meta_title":"Money Forward, Inc. Financial Summary for November 2025 Fiscal Year - Net Sales \u00a550,349 Million, Adjusted EBITDA Up 166.2%","jir_meta_description":"Money Forward, Inc. financial summary for the November 2025 fiscal year. Net sales \u00a550,349 million (up 24.7% YoY), adjusted EBITDA \u00a54,963 million (up 166.2% YoY), and net income attributable to owners of parent turned profitable at \u00a51,587 million. Net sales forecast for November 2026 fiscal year is \u00a553,400\u201357,550 million.","jir_og_title":"Money Forward Announces Financial Summary for November 2025 Fiscal Year, Net Sales Up 24.7%","jir_og_description":"Net sales for the November 2025 fiscal year were \u00a550,349 million, with adjusted EBITDA of \u00a54,963 million significantly increasing. 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