Fullcast Holdings (4848) Q4 2025 earnings summary

Executive summary

• Net sales for FY12/25 rose 12.6% year-over-year to ¥77,227 million, driven by growth in core Short-Term Operational Support, Security, and Sales Support segments.

• Operating profit increased 10.9% year-over-year to ¥7,915 million, reflecting higher sales and reduced strategic investment costs.

• Profit attributable to owners of parent declined 12.9% year-over-year to ¥4,784 million due to the absence of a prior-year one-time gain from a subsidiary sale.

• Strategic investments and acquisitions continued, including M&A, new store openings, and branding initiatives, expanding the group’s business scope.

• Ongoing initiatives focused on recruitment efficiency, workforce expansion, and customer base growth.

Financial highlights

• FY12/25 net sales: ¥77,227 million (+12.6% YoY); operating profit: ¥7,915 million (+10.9% YoY); ordinary profit: ¥7,778 million (+6.4% YoY); profit attributable to owners: ¥4,784 million (-12.9% YoY).

• Gross profit: ¥26,445 million (+7.9% YoY); operating profit ratio: 10.2%.

• Basic EPS: ¥136.8; ROE: 16.1%.

• Net sales exceeded forecasts by 5.8%, but operating profit and net income fell short due to upfront investments and weaker affiliate performance.

• Cash and cash equivalents at year-end rose to ¥21,029 million, up ¥3,498 million from the previous year.

Outlook and guidance

• FY12/26 guidance: net sales ¥104,700 million (+35.6% YoY), operating profit ¥8,700 million (+9.9% YoY), profit attributable to owners ¥5,431 million (+13.5% YoY), ROE 16.9%.

• Segment reclassification to reflect M&A and business expansion; new segments include HR Tech and Global/Long-Term Operational Support.

• Continued focus on M&A, productivity improvements, and expansion of HR and restaurant businesses.

• Annual dividend forecast for FY12/26 is ¥64/share, maintaining a total return ratio target of 50%.