Forside Co (2330) Q3 2025 earnings summary

Executive summary

• Operating revenue for Q3 FY2025 reached ¥6,842 million, a year-over-year increase of 187.0% or 87.0%, driven by strong performance in prize, event, AI, HR, and logistics segments.

• Operating profit rose to ¥393 million from ¥5 million year-over-year, reflecting cost reductions and business portfolio shifts.

• Net income attributable to shareholders was ¥379 million, reversing a loss of ¥25 million in the prior year.

• Growth was fueled by expansion in AI-related and logistics segments and the addition of a new HR services segment.

• The company acquired antz, entering HR and logistics, and discontinued its real estate segment.

Financial highlights

• Gross profit was ¥1,497 million, 98.6% of the previous year, with gross margin impacted by higher cost of sales from AI server business.

• Selling, general, and administrative expenses decreased to ¥1,103 million (73.0% of prior year) due to withdrawal from real estate business.

• Total assets increased by ¥1,205 million to ¥4,771 million, mainly from higher cash, goodwill, and insurance reserves.

• Equity ratio was 63.1%, down from 70.1% at the previous year-end.

• No interim or year-end dividend declared; dividend policy remains undecided pending future performance.

Outlook and guidance

• Full-year consolidated operating revenue forecast is ¥8,758 million, a 64.0% increase year-over-year.

• Full-year operating profit is projected at ¥350 million; net profit forecast at ¥304 million (up 373.0%).

• No revision to previously announced guidance; future performance subject to economic and market uncertainties.