Kajima (1812) Q4 2025 earnings summary

Executive summary

• Consolidated net income reached 125.8 billion yen in FY2024, marking the fourth consecutive year of revenue and income growth; ROE was 10.2%.

• Consolidated revenues rose 9.3% year-over-year to 2,911.8 billion yen; operating income increased 11.5% to 151.8 billion yen.

• Comprehensive income declined 38.7% year-over-year to 126.8 billion yen, mainly due to lower unrealized gains on securities.

• Strategic shareholdings reduced to below 20% of consolidated net assets ahead of schedule.

Financial highlights

• FY2024 consolidated revenues: 2,911.8 billion yen (+9.3% YoY); operating income: 151.8 billion yen (+11.5% YoY); net income: 125.8 billion yen (+9.4% YoY).

• Gross profit margin improved to 11.1% from 10.9% YoY; operating income margin was stable at 5.2%.

• Cash flows from operating activities dropped to 30.6 billion yen from 123.7 billion yen YoY; investing outflows increased to 104.8 billion yen.

• Interest-bearing debt rose 29.3% YoY to 792.0 billion yen.

• Basic EPS increased to 266.49 yen from 238.76 yen YoY.

Outlook and guidance

• FY2025 consolidated net income forecast at a record 130.0 billion yen; revenues expected at 2,950.0 billion yen (+1.3%).

• Operating income is expected to rise 4.7% to 159.0 billion yen; dividend per share to increase from 104 to 112 yen.

• Medium-term plan targets net income of over 150.0 billion yen by FY2030, with ROE maintained above 10%.