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CHANGE Holdings (3962) investor relations material

CHANGE Holdings Q1 2026 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q1 2026 earnings summary14 Aug, 2025

Executive summary

  • Revenue rose 21.7% year-over-year to ¥9,908 million, driven by new consolidations and strong performance in core business segments.

  • Operating profit fell 71.1% year-over-year to ¥678 million, mainly due to the absence of a prior-year one-off gain and increased SG&A expenses.

  • Profit attributable to owners of parent dropped 66.2% year-over-year to ¥469 million.

  • Publitech Business saw steady growth in hometown tax donations and SaaS adoption among local governments.

  • NEW-IT Transformation Business benefited from M&A activity and increased demand for DX and human capital management services.

Financial highlights

  • EBITDA decreased 4.4% year-over-year to ¥1,288 million; EBITDA margin declined to 13.0%.

  • EPS dropped 65.2% year-over-year to ¥6.74.

  • Gross profit increased to ¥4,526 million from ¥3,251 million year-over-year.

  • SG&A expenses rose to ¥3,941 million from ¥2,497 million year-over-year.

  • Cash and cash equivalents at quarter-end were ¥27,873 million, down ¥2,312 million from the previous fiscal year-end.

Outlook and guidance

  • Full-year revenue forecast is ¥55,000 million (+18.6% year-over-year), with operating profit expected to rise 3.6% to ¥14,000 million.

  • EPS forecasted at ¥113.60 (+5.7% year-over-year); ROE expected at 17.8%.

  • Dividend per share to increase by ¥2.19 to ¥23.

  • No change to previously announced financial forecasts as of May 15, 2025.

  • Q2 expected to show significant progress due to timing of Hometown tax payments.

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Frequently asked questions

CHANGE Holdings Inc is a Japan-based company engaged in digital transformation and human resource development services. The company provides IT solutions, including data analytics, cloud computing, and mobile applications, to support corporate and government clients in their digital initiatives. It also offers training and consulting services focused on improving digital literacy and leadership skills. CHANGE Holdings operates across various sectors, including public administration, finance, and healthcare. The company is headquartered in Tokyo, Japan, and its shares are listed on the TSE.

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