NISSO HOLDINGS (9332) Q3 2025 earnings summary

Executive summary

• Achieved record-high 3Q profits since listing, with consolidated net sales up 5.3% year-over-year to ¥76,350 million and operating profit up 30.0% to ¥2,662 million.

• Growth was driven by higher billing unit-costs in General Human Resources Services and increased staff in Engineering Human Resources Services, with gross profit margin improving by 1.0 percentage point to 17.2%.

• Number of enrolled engineers increased steadily, supporting growth in Engineering Human Resources Services.

• Operating profit margin improved by 0.7 percentage points year-over-year to 3.5%, despite higher SG&A expenses from recruitment and promotional investments.

Financial highlights

• 3Q net sales: ¥76,350 million, up 5.3% year-over-year; operating profit: ¥2,662 million, up 30.0%; ordinary profit: ¥2,660 million, up 24.9%.

• Profit attributable to owners of parent: ¥1,606 million, up 15.1% year-over-year; comprehensive income reached ¥1,629 million, up 14.5%.

• Gross profit margin improved to 17.2% from 16.2% year-over-year.

• Net income per share for the nine months was ¥48.98.

• Total assets increased to ¥31,600 million, with net assets at ¥16,468 million and an equity ratio of 51.2%.

Outlook and guidance

• Full-year FY 3/2025 forecast: net sales ¥106,000 million (+9.4% YoY), operating profit ¥3,800 million (+24.3% YoY), ordinary profit ¥3,800 million (+24.3% YoY), profit attributable to owners of parent ¥2,400 million (+22.9% YoY), and net income per share ¥73.05.

• Dividend forecast: ¥22.00 per share, with a payout ratio of 30.0%.

• No changes to previously announced full-year guidance.