PCI Holdings (3918) Transition period summary

Executive summary

• Net sales for Q1 FY3/2025 increased 2.7% YoY to 6,236 million yen, with operating income and profits exceeding plan targets.

• Operating profit rose 75.0% YoY to 313 million yen; ordinary profit up 67.0% YoY to 348 million yen.

• Net income attributable to owners of the parent more than doubled YoY to 258 million yen.

• Profit levels have recovered to those seen before a subsidiary left the group in Q1 FY9/2023.

Financial highlights

• Gross profit increased 8.2% YoY to 1,477 million yen; gross profit margin improved to 23.7% (+1.2p YoY).

• EBITDA grew 50.9% YoY to 395 million yen.

• Basic earnings per share for the quarter were 26.10 yen, up from 11.58 yen YoY.

• Comprehensive income for the quarter was 247 million yen, up from 217 million yen YoY.

Outlook and guidance

• FY3/2025 net sales forecast at 13,000 million yen for the first half; full-year forecast is 12,700 million yen, a 2.8% increase over the previous first half.

• Operating and ordinary profit forecast at 590 million yen; basic EPS projected at 36.85 yen.

• Fiscal year-end changed to March 31, 2025, resulting in a six-month transition period.

• Engineering segment expects steady growth in embedded systems; ICT Solutions to benefit from cloud and AI projects.

• Product/Device segment faces continued challenges from customer adjustments, though medical-related embedded PCs are expected to expand.