Kakaku.com (2371) Q4 2025 earnings summary

Executive summary

• Full-year revenue rose 17.2% year-over-year to 78,435 million yen, with operating profit up 13.5% to 29,293 million yen; net profit attributable to owners increased 10.7% to 20,032 million yen.

• Growth was driven by strong performances in Tabelog and Kyujin Box, with all major segments except Incubation posting revenue growth.

• Q4 revenue grew 19.2% year-over-year, but operating profit declined 3.9% due to higher expenses and impairment losses.

• Kyujin Box saw strong revenue but lower segment income due to higher investment.

Financial highlights

• Q4 operating margin fell 8.0pt year-over-year to 33.2%; full-year margin was 37.3%, down 1.3pt.

• Advertising and commission expenses surged in Q4, up 63.9% and 46.7% year-over-year, respectively.

• Total assets at March 31, 2025, were 93,504 million yen, up 10,196 million yen from the prior year; equity increased to 62,134 million yen.

• Cash and cash equivalents rose to 50,859 million yen, up 13,158 million yen year-over-year.

• Annual dividend for FY2025/3 was 80 yen per share, including a 30 yen special dividend.

Outlook and guidance

• FY26/3 revenue forecast at 92,000 million yen (+17.3% year-over-year); operating profit projected at 28,000 million yen (-4.4% year-over-year); profit attributable to owners forecast at 19,000 million yen (-5.2%).

• Dividend per share for FY25/3 is 80 yen (including a 30 yen special dividend); FY26/3 dividend forecast is 50 yen.

• Kakaku.com segment expects modest revenue growth (+1.5%), while Tabelog and Kyujin Box anticipate strong double-digit growth.

• Strategic initiatives include expanding online reservations, enhancing content, and proactive investment in Kyujin Box.