Persol (2181) Q3 2026 earnings summary

Executive summary

• Achieved record highs in revenue and profits for Q3 FY2025, with all SBUs posting revenue growth and progress on track to meet full-year targets.

• Cumulative Q3 operating profit (IFRS) rose 11.5% year-over-year to ¥53,998 million; Adjusted EBITDA up 5% to ¥68,078 million.

• Divestment of inventory-related business in September for ¥2.7 billion, included in operating profit but excluded from Adjusted EBITDA.

• Acquisition of Gojob SAS, an AI-driven staffing platform, completed and contributed ¥11,737 million in Q3 revenue.

• Adjusted EBITDA and operating profit are progressing as planned, with full-year targets of ¥86.5 billion (+10% YoY) and ¥66.0 billion, respectively.

Financial highlights

• Revenue for Q1–Q3 FY2025 was ¥1,154,288 million (+6.3% YoY); gross profit ¥264,917 million (+6.4% YoY).

• Operating profit reached ¥53,998 million (+11.5% YoY); OP margin 4.7% (+0.2pt YoY).

• Adjusted EBITDA for Q3 cumulative period was ¥68,078 million (+5.0% YoY); margin 5.9%.

• Profit attributable to owners was ¥34,388 million (+10.4% YoY); EPS ¥15.65 (+11.8% YoY); adjusted EPS ¥16.74 (+3.7% YoY).

• Progress rates: revenue 75%, operating profit 81.8%, adjusted EBITDA 78.7% toward full-year forecasts.

Outlook and guidance

• Full-year revenue forecast is ¥1,540,000 million (+6.1% YoY); adjusted EBITDA ¥86,500 million (+10.4% YoY); operating profit ¥66,000 million (+14.9% YoY).

• FY2026 aims for stable revenue growth and 10% adjusted EBITDA growth, with focus on margin improvement and portfolio optimization.

• Annual dividend forecast is ¥11.00 per share.

• Cautious hiring trends expected in some sectors due to AI implementation and macroeconomic uncertainty.