JBCC Holdings (9889) Q4 2025 earnings summary

Executive summary

• Achieved record-high operating profit and three consecutive years of revenue and profit growth, driven by business structure transformation and strong performance in cloud and security segments, launching the first year of the three-year mid-term plan "CHALLENGE 2026".

• Revenue and profit outperformed all forecasted indicators, leading to an upward revision of the year-end dividend and mid-term management plan targets.

• Focused on managed services and security solutions for mid-to-large domestic enterprises, with cloud and security sales up 42.2% year-over-year.

• Special gain of ¥297 million from partial sale of policy-holding securities in Q4.

Financial highlights

• FY2025 revenue: ¥69,868 million (+7.2% YoY); operating profit: ¥6,155 million (+39.2% YoY, margin 8.8%); net income attributable to parent: ¥4,603 million (+44.4% YoY, margin 6.6%).

• Gross profit margin: 30.0% (+0.3pts YoY); comprehensive income: ¥4,449 million (+31.2% YoY).

• Free cash flow: ¥7,000 million (up from ¥1,628 million YoY); cash and equivalents at year-end: ¥17,784 million (up ¥7,882 million YoY).

• EPS: ¥74.19 (post-stock split basis, up from ¥50.86).

Outlook and guidance

• FY2026 forecast: revenue ¥71,500 million (+2.3% YoY), operating profit ¥6,800 million (+10.5% YoY, margin 9.5%), net income forecast: ¥4,800 million (+4.3% YoY, margin 6.7%).

• Four consecutive years of revenue and profit growth expected; mid-term plan targets revised upward based on strong FY2025 results and FY2026 outlook.

• Continued investment in human resources to enhance corporate value.

• External risks include tariffs, FX, and geopolitical factors.