HIMACS (4299) Q4 2026 earnings summary

Executive summary

• FY2026 revenue rose 0.8% YoY to ¥18,216 million, while operating profit fell 13.5% to ¥1,562 million amid higher labor, partner, workforce investment, and acquisition costs.

• Non-financial and end-user sales reached 34.6% and 33.8% of revenue, respectively; DX-related sales reached 24.8%.

• Re: Growth2028 targets renewed growth through investment, AI adoption, stronger end-user relationships, and business-structure transformation.

Financial highlights

• Gross profit was ¥3,532 million, down 3.1%; SG&A rose 7.3% to ¥1,970 million.

• Operating profit was ¥1,562 million, down 13.5%; ordinary profit was ¥1,583 million, down 13.1%; net income attributable to owners of parent was ¥1,141 million, down 11.7%.

• Price improvements added ¥234 million to operating profit; partner and employee cost increases reduced it by ¥346 million, while workforce investment and M&A costs added ¥133 million of expense.

• Operating cash flow increased to ¥1,389 million from ¥766 million; year-end cash and cash equivalents were ¥7,668 million, down from ¥8,319 million.

Outlook and guidance

• FY2027 revenue is forecast at ¥20,000 million, up 9.8%; operating profit at ¥1,200 million, down 23.2%; ordinary profit at ¥1,220 million, down 22.9%; and net income at ¥780 million, down 31.6%.

• FY2027 EPS is forecast at ¥74.83; annual dividend is planned at ¥51 per share, including a ¥5 anniversary commemorative dividend, versus ¥46 in FY2026.

• Re: Growth2028 FY2028 targets include revenue of ¥22.3 billion, a 7% operating margin, EBITDA of ¥1.8 billion, ROE of 9%, and a 36% end-user sales mix.

• The three-year plan targets at least one M&A closing and ~¥5 billion of growth investment; FY2027 is positioned as an investment phase with a 6% operating margin target.