Rakus (3923) Q3 2026 earnings summary

Executive summary

• Net sales for the nine months ended December 31, 2025, rose 24.6% year-over-year to ¥44,297 million, with operating profit up 65.7% to ¥12,500 million and profit attributable to owners of parent up 71.7% to ¥9,596 million.

• Operating profit margin surpassed 30% for the first time on a quarterly basis due to improved expense efficiency.

• Growth was driven by robust demand for operational efficiency solutions, digitalization, and generative AI integration, despite maturing markets and intensifying competition in some areas.

• The company is pursuing medium-term targets of a 31–32% net sales CAGR and profit attributable to owners of parent of ¥10 billion or more by March 2026.

• Full-year guidance remains unchanged after an upward revision at H1, reflecting robust business trends.

Financial highlights

• Q3 net sales: 44,297 million yen, up 24.6% YoY; operating profit: 12,500 million yen, up 65.7% YoY; OP margin: 28.2%, up 7.0pt YoY.

• EBITDA: 13,491 million yen, up 61.1% YoY; profit attributable to owners: 9,596 million yen, up 71.7% YoY, including 1,491 million yen extraordinary income from Kaonavi share sale.

• Gross profit increased to ¥33,376 million from ¥26,323 million year-over-year.

• Basic earnings per share for the period was ¥26.59, reflecting a 2-for-1 stock split.

• Number of employees increased 16.7% YoY to 3,398.

Outlook and guidance

• Full-year net sales guidance: 60,000 million yen (+22.7% YoY); operating profit: 16,000 million yen (+57.0% YoY); OP margin: 26.7%.

• Profit attributable to owners forecasted at 12,100 million yen (+51.2% YoY); EPS guidance: 33.54 yen (+51.8% YoY).

• The company expects to achieve its medium-term profit target even excluding one-time gains from investment securities sales.

• Next medium-term management plan (FY2027–FY2029) to be disclosed in May 2026.

• Q4 OP margin expected to decline slightly due to planned growth investments.