JAC Recruitment (2124) Q2 2025 earnings summary

Executive summary

• Revenue/net sales for 1H FY2025 grew 21.7% year-over-year to ¥23,247 million, surpassing initial plans and forecasts.

• Ordinary profit rose 43.3%, operating profit increased 43.1%, and profit after tax grew 48.6% year-over-year.

• Domestic recruitment business, accounting for about 90% of net sales, saw robust demand and a 45% year-over-year increase in executive placements.

• Overseas business faced challenging conditions, especially in Asia, but returned to profitability.

• Cost management initiatives kept expenses within budget, supporting profit growth.

Financial highlights

• Revenue/net sales: ¥23,247 million (+21.7% YoY); Gross Profit: ¥21,538 million (+22.1% YoY).

• Operating Profit: ¥6,238 million (+43.1% YoY); Ordinary income: ¥6,247 million (+43.3% YoY); EBITDA: ¥6,440 million (+37.3% YoY, margin 27.7%).

• Profit attributable to owners: ¥4,270 million (+48.6% YoY); Diluted EPS: ¥26.95.

• First quarter revenue up 23.5% YoY, second quarter up 19.9% YoY.

Outlook and guidance

• Full-year 2025 forecast: Revenue/net sales ¥46,300 million (+18.2% YoY), operating profit ¥11,200 million (+23.2% YoY), profit attributable to owners ¥7,800 million (+39.0% YoY), EPS ¥49.23.

• Dividend per share forecast increased to ¥35, up ¥9 from previous year.

• Upward revision of full-year earnings and dividend forecasts due to strong first-half performance.