MIXI (2121) Q3 2025 earnings summary

Executive summary

• Net sales for the third quarter reached JPY 41.5 billion, with EBITDA at JPY 9.5 billion, operating income at JPY 8.2 billion, and profit attributable to owners at JPY 5.1 billion, all rising year-over-year.

• Q3 FY2025 saw net sales rise 0.7% year-over-year, with strong EBITDA and operating income growth driven by sports and digital entertainment segments.

• Net sales for the nine months ended December 31, 2024 rose 4.9% year-over-year to ¥110,352 million, with operating income up 62.6% to ¥17,030 million and profit attributable to owners of parent up 123.1% to ¥10,416 million.

• Upward revision of full-year forecasts: net sales to JPY 153 billion, EBITDA to JPY 31 billion, operating income to JPY 26.5 billion, and profit attributable to owners to JPY 17.5 billion.

• ROE is expected to exceed 9%, surpassing the cost of shareholders' equity.

Financial highlights

• Ordinary income: ¥7,719 million (+74.8% YoY); profit attributable to owners: ¥5,189 million (+114.7% YoY).

• EBITDA for the nine-month period increased 50.9% year-over-year.

• Basic earnings per share rose to ¥150.38 from ¥65.50 in the prior year period.

• Cash and cash equivalents at period end were ¥102,834 million.

• Gross profit improved to ¥74,606 million from ¥72,176 million year-over-year, while SG&A expenses decreased to ¥57,575 million.

Outlook and guidance

• Full-year net sales forecast is ¥153,000 million, up 4.2% year-over-year, with operating income projected at ¥31,000 million (+31.9%) and profit attributable to owners of parent at ¥17,500 million (+147.1%).

• Basic earnings per share for the full year is forecast at ¥252.65.

• Dividend forecast maintained at ¥110 per share for the fiscal year.

• Full-year sales and profit forecasts revised upward due to strong segment performance and cost effectiveness.

• ROE expected to exceed 9%, above cost of shareholders' equity.