CyberAgent (4751) Q4 2025 earnings summary

Executive summary

• Achieved 28 consecutive years of sales growth, with FY2025 net sales rising 9.1% to ¥874.0B and operating profit (OP) up 78.9% to ¥71.7B, surpassing revised forecasts.

• Net income nearly doubled to ¥31.6B, driven by improved profitability in the Media & IP segment, especially ABEMA.

• Media & IP business, including ABEMA, reached profitability for the first time in 10 years.

• Game business saw dramatic OP growth, with sales up 10.6% to ¥216.7B and OP nearly doubling to ¥60.0B, driven by new hit titles and global expansion.

• Employee headcount increased by 434, reaching 8,284, including 397 new graduates.

Financial highlights

• Gross profit rose 20.7% year-over-year to ¥264.1B; operating margin improved to 8.2% from 5.0% last year.

• Net income and operating profit both showed strong year-over-year improvement.

• Basic earnings per share doubled to ¥62.52 from ¥31.56; diluted EPS rose to ¥58.96.

• Net cash position improved 31.1% year-over-year to ¥129.8B.

• Special bonus paid at year-end due to performance exceeding plans.

Outlook and guidance

• FY2026 net sales forecast at ¥880.0B, up 0.7% year-over-year; OP expected between ¥50.0B and ¥60.0B, reflecting volatility in the Game business.

• Net income guidance for FY2026 is ¥25.0B–¥30.0B, a decrease from FY2025.

• Dividend forecast raised to ¥19 per share, up 11.8% year-over-year.

• Continued focus on creating new hit games and building a highly profitable business model.