QUANTS RESEARCH INSTITUTE HOLDINGS, INC. · 株式会社クオンツ総研ホールディングス
| Revenue | ¥16.6B |
|---|---|
| Operating income | ¥4.8B |
| Net income | ¥2.7B |
| Free cash flow | ¥1.2B |
| Operating margin | 28.8% |
| Net margin | 16.5% |
| Return on equity | 53.8% |
| Period | 2025 |
OpenFilings analyst
Our analyst
Agentic read of the latest earnings call — recommendation updates when we process a new transcript. Research synthesis, not investment advice.
Strong M&A execution is offset by consulting investment losses and unresolved closing-rate risk.
Hold: nine-month net sales rose 37.3% to ¥15,920 million and operating profit rose 42.0% to ¥4,440 million, but the operating-profit outlook was cut for Consulting from a ¥650 million loss to a ¥1,100 million loss. M&A profit was raised to about ¥6,940 million and productivity improved, yet the closing-rate recovery remains unproven and growth is increasingly dependent on costly hiring.
- Ma Brokerage
- Consulting Growth
- Ai Productivity
- Closing Rate
- Hiring Investment
- Share Repurchase
Near term
M&A brokerage closed a quarterly record number of deals, with Q3 sales of ¥4,370 million and average deal size of ¥65 million.
Consulting hiring exceeded plan at 274 consultants, with approximately 320 expected by year-end, but higher recruitment and advertising costs are pressuring earnings.
Watch whether stricter mandate screening and AI-enabled time savings translate into a sustained closing-rate improvement rather than only a smaller, cleaner pipeline.
Longer term
M&A sales per advisor increased from ¥9.8 million to ¥13.0 million year over year, supporting a productivity-led growth model if advisor turnover falls and headcount resumes growth.
Management targets consulting as a second core earnings pillar over four to five years, but that thesis requires converting rapid consultant expansion into durable profitability.
Expansion through financial-institution, accounting, and overseas partnerships could broaden sourcing, while tighter acceptance standards may constrain headline deal-volume growth.
Red flags
Management acknowledged that a significant closing-rate improvement has not yet occurred.
Consulting operating-loss guidance worsened by ¥450 million despite strong sales and hiring progress.
The number of ongoing M&A deals declined after mandates were removed under stricter criteria, making pipeline quality and future conversion harder to assess.
OpenFilings analyst view from primary-source filings and earnings calls — not investment advice.
Earnings transcripts
- Issuer IR
Transcript of Financial Results Briefing for FY26_9 Q2 4.5MB
QUANTS RESEARCH INSTITUTE HOLDINGS, INC.
- Issuer IR
Transcript of Financial Results Briefing for FY26_9 Q1 3.2MB
QUANTS RESEARCH INSTITUTE HOLDINGS, INC.
- Issuer IR
Transcript of Financial Results Briefing for FY26_9 Q3 4.4MB
QUANTS RESEARCH INSTITUTE HOLDINGS, INC.