JAC Recruitment (2124) Q3 2025 earnings summary

Executive summary

• Achieved record highs in revenue, ordinary income, and profit after tax for 3Q FY2025, all exceeding initial plans and forecasts.

• Net sales for the nine months ended 30 September 2025 rose 20.0% year-over-year to ¥35,389 million, with strong performance in the Domestic Recruitment Business offsetting partial impacts from U.S. tariff issues.

• Operating income increased 35.6% year-over-year to ¥9,820 million, and profit attributable to owners of parent surged 44.4% to ¥7,015 million.

• The company strengthened its core executive and specialist recruitment, expanded regionally, and invested in consultant training and development.

• Cost efficiency initiatives and targeted business growth in less-affected sectors supported profitability.

Financial highlights

• Revenue for 3Q FY2025 reached ¥35,389 million, up 20.0% year-over-year.

• Operating income increased 35.6% year-over-year to ¥9,820 million, driven by gross profit growth and cost reductions.

• Ordinary income was ¥9,837 million, up 35.7% year-over-year.

• Net profit attributable to owners of parent grew 44.4% year-over-year to ¥7,015 million, supported by wage increase tax incentives.

• EPS for 3Q FY2025 was ¥44.24, up from ¥30.42 year-over-year.

Outlook and guidance

• Full-year FY2025 revenue forecast maintained at ¥46,300 million, up 18.2% year-over-year.

• Operating income, ordinary income, and net profit forecasts revised upward due to lower SG&A and tax incentives.

• Dividend per share for FY2025 raised to ¥36, up ¥10 year-over-year and ¥1 from previous forecast, with payout ratio targeted at 60–65%.

• Full-year EPS forecast for FY2025 is ¥53.60.

• Year-end dividend forecast revised to ¥36.00 per share.