Bridge Consulting Group (9225) Q4 2025 earnings summary

Executive summary

• Achieved record IPO support with 20.9% market share and 106 IPOs supported as of 2024, expanding presence in the IPO/M&A sector.

• Revenue increased by 11.0% year-over-year to ¥2,239 million, driven by growth in the core CPA business and HR segment expansion.

• Launched new group structure, establishing subsidiaries and integrating specialized HR and consulting services for growth.

• Set a long-term target of ¥10 billion in sales by FY2030, aiming to support over 2,000 client companies and expand the CPA platform and AI tools.

• Initiated strategic alliances, capital tie-ups, and acquired J-Adviser qualification to enhance IPO/M&A support and facilitate SME access to capital markets.

Financial highlights

• FY2025/9 revenue grew to ¥2,239 million, up 11.0% year-over-year, with gross profit at ¥1,199 million (up from ¥1,089 million).

• Operating income declined to ¥202 million (down 12.4% YoY), and net income attributable to parent was ¥147 million (down 13.1%).

• Gross margin remained stable at 53.58%, while operating margin decreased to 9.05% due to increased personnel and system investments.

• Cash and equivalents at year-end were ¥1,061 million, down ¥143 million from the previous year.

• No dividends were paid or planned for the fiscal year.

Outlook and guidance

• FY2026/9 revenue projected at ¥2,700 million (+20.6% YoY), but operating income expected to decrease to ¥160 million (-21.0% YoY) due to intensified hiring and system investments.

• Gross profit is projected to rise 16.7% to ¥1,400 million, but operating margin forecast to fall to 5.88% as skill-sharing projects increase.

• Net income is expected to decline by 24.1% YoY.

• Focus on expanding client base, maximizing CPA partner utilization, and developing new services like "CPA Premium."