Kusurinomadoguchi (5592) Q2 2025 earnings summary

Executive summary

• Consolidated revenue for Q2 FY2025 was ¥5.44 billion, up 28% year-over-year, with operating profit of ¥949.9 million, up 13% year-over-year, driven by strong media and core system businesses and expanding customer base.

• Net income attributable to parent was ¥558.0 million, with growth supported by digital transformation in healthcare and increased IT service recognition.

• Media business maintained momentum with rich plan and pharmacy support, while core system business saw significant demand from new subsidy-eligible features.

• "Minna no Okusuri Bako" business was impacted by partner changes but is set to resume growth in 3Q after a new alliance with E-BOND Holdings.

• Absorption merger of Cube Imaging Co., Ltd. completed August 1, 2024, and new subsidiary Pharmacist Job Change Co., Ltd. established.

Financial highlights

• Consolidated revenue: ¥5.44 billion (+28% YoY); operating profit: ¥949.9 million (+13% YoY); net income attributable to parent: ¥558.0 million.

• Gross profit: ¥3,233.8 million (+42% YoY); recurring profit: ¥542 million (+43% YoY).

• EBITDA: ¥857 million (+39% YoY); operating margin: 17.4%; net margin: 10.3%.

• SG&A expenses decreased due to lower hiring and cost reductions.

• Cash and cash equivalents at period-end were ¥9,807.2 million, down ¥4,783.7 million from the previous year-end, as spot borrowings were repaid.

Outlook and guidance

• Full-year revenue forecast: ¥10 billion (+15% YoY); operating profit: ¥1.51 billion (+10% YoY); net income: ¥1.017 billion (+17% YoY); EPS: ¥92.62.

• Dividend payout ratio planned at 15%, with year-end dividend moved forward to FY2025 and forecast at ¥14.00 per share.

• Mid-term plan targets ¥20 billion in stock revenue and over ¥5 billion in operating profit by FY2030.

• No revision to previously announced guidance.