DIP Corporation (2379) Q4 2025 earnings summary

Executive summary

• Full-year sales increased 4.8% YoY to ¥56.4 billion, with Q4 sales up 1.5% YoY, though full-year sales were 2% below forecast due to a weaker market.

• Operating income rose 5.0% YoY to ¥13.4 billion, but Q4 operating income fell 14.3% YoY to ¥2.5 billion, mainly due to ¥870 million upfront investment in Spot Baitoru.

• Spot Baitoru, a new spot part-time job service, is a key differentiator, supported by major advertising campaigns and sponsorships, including WBC 2026 and MLB partnerships.

• Market share expanded, especially in food, beverage, and retail sectors, with Baitoru maintaining No.1 app downloads and rising MAU.

• Investments were made in sales capabilities, including new graduate hires and office expansions.

Financial highlights

• Gross profit reached ¥50,504 million, up from ¥47,957 million YoY.

• DX Business sales grew 12.4% YoY to ¥6.72 billion, with segment profit up 19.5%.

• Personnel Recruiting Services sales increased 3.9% YoY to ¥49.7 billion, segment profit up 7.0%.

• Advertising and sales promotion expenses ratio rose by 2.3%pt YoY in Q4 due to Spot Baitoru promotion.

• Operating income margin was 23.8%, nearly flat YoY.

Outlook and guidance

• FY'26/2 sales are forecast to rise 6.4% to ¥60 billion, but operating income is expected to fall 10.5% to ¥12 billion due to ¥4 billion upfront investment in Spot Baitoru.

• Net income is projected to decrease 10.6% to ¥8 billion.

• Medium-term plan targets sales of ¥65 billion and operating income over ¥17 billion.

• The part-time job advertising market is expected to continue moderate recovery.