Logizard Co (4391) Q3 2025 earnings summary

Executive summary

• Achieved record-high revenue of ¥1,634 million, up 11.3% year-over-year, with net income rising 44.1% to ¥265–266 million and operating income up 41.3% to ¥358 million, driven by strong cloud service and WMS demand.

• Cloud service revenue, MRR, and account numbers reached all-time highs, supported by B2B expansion and new client acquisitions.

• Despite macroeconomic uncertainty, labor shortages, and investment hesitancy among large clients, SME and mid-sized segments remained resilient.

• Growth was further supported by automation trends, product enhancements, and successful industry engagement.

Financial highlights

• Gross profit reached ¥927 million, up 15.8% year-over-year, with gross margin improving to 63.8% for cloud services and 56.7% overall.

• Operating margin increased to 21.9% from 17.3% year-over-year.

• Cloud service sales grew 9.3% year-over-year to ¥1,282 million, with development/implementation services up 24% and equipment sales up 2.9%.

• SG&A expenses rose 3.9% due to workforce expansion and increased travel and support costs.

• Net income per share was ¥82.63, compared to ¥57.68 in the prior year period.

Outlook and guidance

• Full-year revenue forecast is ¥2,214 million, with operating and ordinary income projected at ¥400 million and net income at ¥281 million (EPS ¥87.54); no changes to previous guidance.

• Q4 profit expected to slow due to increased security and strategic investments.

• MRR target for year-end set at ¥136–149 million, with 72.3% progress as of Q3.

• Progress toward full-year revenue target is 73.8%, with net profit at 94.6% of the annual plan by Q3.

• Long-term growth expected from B2B expansion, new product features, and partner channel development.