SKY Perfect JSAT Holdings (9412) investor relations material

Executive summary

• Revenue and profit increased year-over-year for the nine months ended December 31, 2025, with operating income and net income both up over 20%.

• Operating revenue for the nine months was ¥93,332 million, up 1.6% year-over-year.

• Operating profit rose 24.6% to ¥26,520 million, and profit attributable to owners of parent increased 22.4% to ¥17,630 million year-over-year.

• Comprehensive income surged to ¥22,056 million from ¥8,775 million in the prior year period.

• Awarded the Ministry of Defense's Satellite Constellation PFI Project, establishing a new special purpose company.

Financial highlights

• Revenue rose to ¥93.3B (+1.6% YoY), operating income to ¥26.5B (+24.6% YoY), and net income to ¥17.6B (+22.4% YoY).

• EBITDA increased to ¥38.3B (+4.7% YoY).

• Ordinary profit increased 27.1% YoY to ¥26,940 million.

• Basic earnings per share for the nine months was ¥62.21, up from ¥50.84 YoY.

• Net assets as of December 31, 2025, were ¥296,125 million, with an equity-to-asset ratio of 74.0%.

• Cash and cash equivalents at period end were ¥65,908 million, down from ¥116,776 million at the start of the period.

• Long-term issuer rating upgraded to A+ (Stable).

Outlook and guidance

• Full-year operating revenue forecast is ¥127,600 million, up 3.1% YoY.

• FY2025 operating income forecast revised up to ¥35B (+¥4.2B), net income to ¥23B (+¥2.0B).

• Basic earnings per share forecast for the full year is ¥81.15.

• Annual dividend forecast raised by ¥4 to ¥42 per share.

• Upward revision driven by media business optimization ahead of plan.