• Efficiency gains and cost discipline to drive record profits – AS ONE's H1 results demonstrated the Company’s strong execution, delivering sustained earnings growth despite deceleration in revenue growth. The Company’s revised FY3/26 guidance points to further margin expansion, delivering record profits despite a more measured growth outlook. Looking ahead, the macro headwinds that impacted revenue growth in FY3/26 are likely to become macro tailwinds as Prime Minister Takaichi is expected to implement a series of fiscal stimulus measures that will benefit AS ONE’s core customer base (universities, research organizations, and medical institutions). Although still early, the more constructive macro outlook could drive growth re-acceleration in 2027.
