Members Co., Ltd. · TSE:2130
Members — FY2027 2Q Earnings Presentation
37 slides from Members's earnings presentation, Nov 5, 2026
Slide 1: FY2027 2Q Financial Results Presentation Materials
FY2027 2Q Financial Results Presentation Materials Members Co., Ltd. (Prime Market, Tokyo Stock Exchange, Securities code: 2130) Members Co., Ltd. URL: https://www.members.co.jp/ Members Co., Ltd.
Slide 2: FY2027 2Q Results
FY2027 2Q Results Members Co., Ltd. 2
Slide 3: FY2027 2Q Consolidated Financial Results Highlights
FY2027 2Q Consolidated Financial Results Highlights ◼ Revenue and Value-added Revenue were in line with the revised plan. Due to personnel cost control, the operating loss of 389 million yen was better than the revised plan. ◼ While the average billing rate per DC (digital creator) and the AI/data-r
Slide 4: FY2027 2Q Consolidated P/L
FY2027 2Q Consolidated P/L ◼ Due to a decline in the utilization rate, the gross profit margin decreased by 2.8pt YoY. SG&A expenses trended upward YoY due to the increase in new graduate hires and the impact of M&A, in addition to continued investment in transforming the business structure. In ligh
Slide 5: Consolidated Revenue / Value-added Revenue
Consolidated Revenue / Value-added Revenue ◼ Revenue: 11,788 million yen (YoY +3.0%). ◼ Value-added Revenue: 11,392 million yen (YoY +2.9%). Revenue (Non-consolidated for FY2025 3Q–FY2026 3Q) (million yen) Value-added Revenue (Non-consolidated for FY2025 3Q–FY2026 3Q) (million yen) 1Q 2Q 3Q 4Q 1Q 2Q
Slide 6: Value-added Revenue: Analysis of Factors for Change
Value-added Revenue: Analysis of Factors for Change ◼ Higher average billing rates (+672 million yen) drove results, absorbing the impact of lower utilization rates. Value-added Revenue increased by 322 million yen YoY. ◼ The DX domain grew by 817 million yen, offsetting the contraction in non-DX do
Slide 7: Consolidated Operating Profit/SG&A Expenses/Ratio/Gross Profit Margin
Consolidated Operating Profit/SG&A Expenses/Ratio/Gross Profit Margin ◼ The Group posted an operating loss of 389 million yen, down 652 million yen YoY. In 2Q alone, the Group posted an operating profit of 6 million yen. ◼ The 2Q standalone gross profit margin decreased by 4.5pt YoY. The SG&A expens
Slide 8: DX Revenue Ratio / AI/Data-related Revenue
DX Revenue Ratio / AI/Data-related Revenue ◼ The 1H DX revenue ratio was 57.8% (+5.7pt YoY). Growth slowed to 14.2%. ◼ 1H AI/data-related revenue increased 80.2% YoY, and its ratio to consolidated revenue also steadily expanded to 15.5% in 2Q alone (+6.6pt YoY). The Group is intensively strengthenin
Slide 9: Number of DGT Clients / Value-added Revenue per Client / Number of Clients by Revenue Size
Number of DGT Clients / Value-added Revenue per Client / Number of Clients by Revenue Size ◼ Due to strengthened cross-selling, the number of clients with transactions of 300 million yen or more increased by 2 YoY, and those with 100 million yen or more increased by 6. Value-added Revenue per client
Slide 10: Number of Specialized Companies / Value-added Revenue / DX Talent Ratio
Number of Specialized Companies / Value-added Revenue / DX Talent Ratio ◼ Cumulative Value-added Revenue for all specialized companies in the first half was 5,965 million yen, up 18.7% YoY. ◼ The DX talent ratio is 83.5%, progressing steadily toward the year-end target of 90%. The Group will continu
Slide 11: Average Billing Rate per DC / Utilization Rate
Average Billing Rate per DC / Utilization Rate ◼ The average billing rate per DC was 975 thousand yen (YoY +5.5%). Excluding the impact of 1st year new graduates, it improved steadily by 7.2%. ◼ The utilization rate excluding 1st and 2nd year new graduates was 80.6%, down 2.6pt YoY. The utilization
Slide 12: Number of DCs / New Graduate and Mid-career Hires / Turnover Rate
Number of DCs / New Graduate and Mid-career Hires / Turnover Rate ◼ The number of DCs at the end of 2Q was 2,592, an increase of 136 from the end of the previous fiscal year. Due to reduced new graduate hiring in the previous fiscal year, the number of DCs in their second year or more is 2,345 (a de
Slide 13: Reasons for Revision of Earnings Forecasts and Future Initiatives
Reasons for Revision of Earnings Forecasts and Future Initiatives ◼ The Company revised its first-half and full-year earnings forecasts on September 30, 2026. The root cause was overconfidence in the high growth of the DX domain through the previous fiscal year, which delayed the response to market
Slide 14: Assumptions and Sensitivity of the Revised Plan
Assumptions and Sensitivity of the Revised Plan ◼ The revised full-year operating profit plan of 200 million yen is a conservative plan that assumes a utilization rate of 75% and an 8% increase in the average billing rate in the second half, without incorporating any increase in AX-related orders or
Slide 15: Future Policies and Strategies
Future Policies and Strategies Members Co., Ltd. 15
Slide 16: External Environment: Market Conditions and Competitive Positioning
External Environment: Market Conditions and Competitive Positioning ■ While the AI and DX market keeps growing, AI is replacing routine work, and value is shifting to implementation and results. ■ The Group aims to be a Digital Implementation Partner, evolving the embedded support of ATAKAMO-SHAIN®
Slide 17: Competitive Advantage: Why Embedded Support × AI Drives Growth
Competitive Advantage: Why “Embedded Support × AI” Drives Growth ■ Across all industries, clients are redesigning and rebuilding their businesses, operations, and user touchpoints around AI. ■ The Group sees this as a major growth opportunity for its strength in seeing work through from understandin
Slide 18: Future Policies / Initiatives / Targets
Future Policies / Initiatives / Targets ■ To become a Digital Implementation Partner, the Group is shifting to AX company-wide under six policies. ■ Putting business transformation ahead of short-term profit, the Group aims for 1 billion yen in new AX orders. Policies Initiatives Targets (KPIs) Stre
Slide 19: Accelerating AX: Launch of Yarikiru AX, a Suite of AI Services
Accelerating AX: Launch of “Yarikiru AX,” a Suite of AI Services ■ The Group has launched “Yarikiru AX,” a suite of AI services. Through embedded support as a stakeholder, starting from frontline departments, it helps clients keep the transformation cycle running. ■ Its four-layer service structure,
Slide 20: Accelerating AX: Data and AI Utilization Support Case Studies (1)
Accelerating AX: Data and AI Utilization Support Case Studies (1) Reposted ■ End-to-end support that goes beyond PoC to implementation in operations and delivering results. Major Infrastructure and Energy Company Major IT Company Automating inquiry handling Generating “first drafts” of UX concepts I
Slide 21: Accelerating AX: Data and AI Utilization Support Case Studies (2)
Accelerating AX: Data and AI Utilization Support Case Studies (2) Reposted ■ End-to-end support that goes beyond PoC to implementation in operations and delivering results. Food Service Company Major Financial Institution Game Operating Company Automated detection of edits required for a Generative
Slide 22: Earnings Targets / Shareholder Returns
Earnings Targets / Shareholder Returns Members Co., Ltd. 22
Slide 23: FY2027 Earnings Targets
FY2027 Earnings Targets ■ This fiscal year, the Group will prioritize investment in its business structure, services, and talent over short-term profit to transform into a company that can grow strongly in the AI era. Operating profit of 200 million yen is the minimum to be secured, and the plan is
Slide 24: Capital Policy and Shareholder Return Policy
Capital Policy and Shareholder Return Policy ◼ The Group pursues the optimal balance between sustainable growth in corporate value and shareholder returns. ◼ From the next fiscal year onward, once the business structure transformation is complete, the dividend policy will aim for sound return levels
Slide 25: Shareholder Returns / ROE
Shareholder Returns / ROE ◼ The FY2027 dividend plan is 35.0 yen per share (+2.0 yen YoY), which would mark the 15th consecutive dividend increase since the initial dividend. As the lower profit margin is a short-term effect of the business structure transformation, the year- end dividend forecast i
Slide 26: Appendix
Appendix Members Co., Ltd. 26
Slide 27: FUTURE VISION (Vision for 10 years from now)
FUTURE VISION (Vision for 10 years from now) ◼ Based on our External Environment and materiality, we have formulated FUTURE VISION to define where we aim to be in 10 years. ◼ Together with all stakeholders, we aim to create 1,000 impact cases and achieve Operating profit of 10 billion yen. 1,000 imp
Slide 28: Value Creation Process for Realizing FUTURE VISION
Value Creation Process for Realizing FUTURE VISION Materiality INPUT Positioning and Value Proposition Vision / OUTCOME Human Capital / Organizational Capital Imagine it. Make it. Digital for Hope. Unleashing the creativity of digital Rapid climate Power of recruitment and development A digital impl
Slide 29: The power to shape technology - Transforming the value chain with AI
The power to shape technology - Transforming the value chain with AI and the latest technology ◼ We predict that the evolution of AI will accelerate the digital transformation of major companies. We are expanding our support from DX support in the traditional sales, marketing, and service areas to d
Slide 30: The power of Design x CSV
The power of Design x CSV - Elevating social issues into business value through deep human understanding and a future-oriented approach ⚫ Achieve both social issue resolution and business results through the power of advanced human-centered design thinking and UX design. We provide end-to-end suppor
Slide 31: The Power of Trust - ATAKAMO-SHAIN
The Power of Trust - Long-term partnership based on trust with clients = ATAKAMO-SHAIN® ◼ We cultivate and produce many of our own unique ATAKAMO-SHAIN who support the implementation of the client's entire value chain. We build long-term partnership support relationships based on trust with clients
Slide 32: Company Profile
Company Profile Members Co., Ltd. 32
Slide 33: Company Profile
Company Profile Mission FUTURE VISION Create a spiritually rich society Digital for Hope. Unleashing the creativity of digital creators; transforming through “MEMBERSHIP” climate change into green growth and population decline into individual prosperity. Date of establishment No. of employees Consol
Slide 34: Sales/Revenue and Number of Employees
Sales/Revenue and Number of Employees ◼ Since going public in 2006, sales have grown along with the number of employees. 2,967 2,866 Consecutive 2,806 14 13.1 revenue growth Past 5-year CAGR fiscal years Revenue % Since FY2013 24,424 2,274 22,329 1,838 20,467 No. of employees (people) 1,476 17,662 S
Slide 35: Disclaimer
Disclaimer Forward-looking statements such as business plans and earnings forecasts contained in this document are based on information available to us at this time that we believe to be reasonable. These forward-looking statements are subject to various uncertainties, including market conditions an
Slide 36: Cautionary Statement
Cautionary Statement This document is an English translation of portions of the Japanese original, prepared solely for reference. In the event of any discrepancy between this translated document and the Japanese original, the original shall prevail. For IR inquiries Members Co., Ltd. Group Corporate
Slide 37: Driving societal transformation together with clients as a digital implementation partner
Driving societal transformation together with clients as a digital implementation partner If you have any questions regarding this material, please contact us at the address below. Members Co., Ltd. Group Corporate Planning Office https://x.com/Members_IR https://www.members.co.jp/contact/ https://w