BayCurrent (6532) Q2 2027 earnings summary

Executive summary

• H1 FY2027 revenue rose 35.7% YoY to ¥92,913 million; EBITDA increased 29.4% to ¥30,726 million and profit attributable to owners of parent rose 28.9% to ¥22,209 million.

• Consulting demand remained strong, supported by digital transformation and growing interest in generative-AI-led corporate transformation.

Financial highlights

• H1 revenue was ¥92,913 million, up 35.7% YoY; gross profit rose 42.8% to ¥54,156 million.

• Operating profit increased 28.5% to ¥29,892 million; profit before tax rose 28.6% to ¥29,943 million.

• Projects increased 25.5% YoY and revenue per consultant rose 6.6%; consultant headcount reached 6,339, up 30.9%.

• Basic EPS was ¥148.63 versus ¥113.44; SG&A increased 65.9% YoY to ¥24,327 million.

• Revenue and EBITDA reached 48.9% and 46.2% of FY2027 forecasts, ahead of historical pacing.

Outlook and guidance

• FY2027 forecasts unchanged: revenue ¥190,000 million, operating profit ¥64,900 million, EBITDA ¥66,500 million, parent-attributable profit ¥48,100 million and basic EPS ¥323.79.

• Management expects full-year revenue and profit to exceed initial guidance, with second-half margins expected to improve as H1 upfront investments contribute.

• Q3 revenue and EBITDA are expected to track above plan; projects and revenue per consultant are each projected to exceed plan.

• FY2028 targets include revenue of ¥250.0 billion and EBITDA margin of 30%–40%; annual revenue growth benchmark is 20% for FY2024–FY2028.