PRONEXUS (7893) Q4 2025 earnings summary

Executive summary

• FY2025 revenue reached a record ¥30,996 million, up 2.9% YoY; all four product areas grew, while non-printing services increased their revenue mix.

• Reported operating profit fell 91.4% to ¥209 million after a ¥2,503 million subsidiary goodwill impairment; core operating profit rose 9.3% to ¥2,731 million.

• Profit attributable to owners of parent declined 74.7% to ¥451 million, while core profit attributable to owners of parent increased 61.4% to ¥2,973 million.

• Business-segment growth offset negative impacts from the shift to electronic provision of convocation notices.

Financial highlights

• Revenue was ¥30,996 million, up ¥879 million or 2.9% YoY; gross profit increased 1.3% to ¥11,182 million.

• Profit before tax was ¥1,682 million, down 33.5%; FY2025 revenue and reported operating profit were below plan targets of ¥31,000 million and ¥2,500 million.

• Total assets were ¥38,660 million; equity attributable to owners of parent was ¥24,966 million, or 64.6% of total assets.

• Cash and cash equivalents rose 30.2% to ¥12,309 million; operating cash flow was ¥4,286 million, investing cash flow ¥597 million and financing cash flow negative ¥2,014 million.

Outlook and guidance

• FY2026 revenue is forecast at ¥31,800 million (+2.6%), operating profit at ¥2,800 million and profit attributable to owners of parent at ¥1,800 million; no special profit factors are expected.

• New Plan 2027 revenue targets are ¥31,800 million in FY2026, ¥32,600 million in FY2027 and ¥34,000 million in FY2028; FY2028 core operating profit target is ¥3,100 million.

• FY2028 targets include reported operating profit of ¥3,100 million, parent-attributable profit of ¥2,000 million, operating margin of 9.1% and ROE of 7.7%.

• FY2026 annual dividend forecast is ¥38 per share, comprising ¥36 ordinary dividend and ¥2 commemorative dividend for the 95th anniversary; longer-term ambition is ¥40 billion revenue by FY2030.