ERI Holdings, the Tokyo-based inspection and certification firm, reported first quarter net sales of 5,847 million yen, up 8.6% year on year. Operating profit rose 8.6% to 942 million yen, while profit attributable to owners came in at 524 million yen. The company also strengthened its balance sheet, with shareholders' equity ratio at 54.5%. During the quarter, ERI added CARBON FREE CONSULTING CORPORATION as a consolidated subsidiary, signaling a move into carbon-related advisory work. The company maintained its full year guidance of 27,000 million yen in net sales and 3,280 million yen in profit, and reset its annual dividend to 44 yen per share after a 3-for-1 stock split. Investors tracking carbon consulting and Japanese climate services will want to see how this new subsidiary contributes to revenue in coming quarters. The financials are steady, but the carbon business is still too new to judge from this announcement alone.
