SKY Perfect JSAT Holdings (9412) investor relations material

Executive summary

• Achieved record-high net income of ¥23,311 million for FY2025, up 22% year-over-year, with both operating income and net income exceeding forecasts.

• Revenue increased 3.1% year-over-year to ¥127,584 million, driven by growth in the Space Business and operational optimization in the Media Business.

• FY2026 guidance projects consolidated revenue of ¥135,000 million (+5.8%) and net income of ¥27,000 million (+15.8%).

• Enhanced shareholder returns with a dividend increase to ¥48 per share for FY2026, maintaining a payout ratio of 50% or more.

• Comprehensive income surged to ¥32,256 million from ¥17,872 million the previous year.

Financial highlights

• FY2025 operating income rose 28.3% year-over-year to ¥35,273 million; EBITDA reached ¥50,700 million (+10.8%).

• Space Business revenue grew 7.9% to ¥69,800 million, with segment profit up 5.6% to ¥16,100 million.

• Media Business revenue declined 1.9% to ¥64,300 million, but segment profit surged 74.3% to ¥7,700 million due to cost optimization.

• Basic earnings per share increased to ¥82.25 from ¥67.43 year-over-year.

• Equity-to-asset ratio improved to 74.4% from 69.8% year-over-year.

Outlook and guidance

• FY2026 expects revenue and profit growth in both Space and Media segments, with Space Business driven by national security demand.

• FY2026 forecast: operating income ¥39,000 million (+10.6%), EBITDA ¥54,000 million (+6.4%).

• Cumulative growth investments of approx. ¥220 billion planned from FY2025 to FY2027.

• FY2030 targets: revenue ¥185,000 million, net income ¥35,000 million+, with Space Business as the main growth engine.

• Annual dividend forecast for FY2027 is ¥48.00 per share.