Rakus (3923) Q4 2024 earnings summary

Executive summary

• FY2024.3 net sales rose 40.2% to ¥38,408 million; operating profit increased 235.7% to ¥5,559 million, led by Cloud growth.

• FY2025.3 guidance targets continued sales and profit growth; the FY2026.3 medium-term sales CAGR target was raised to 31–32%.

Financial highlights

• Gross profit increased 47.1% to ¥27,619 million; SG&A rose to ¥22,059 million from ¥17,121 million.

• Ordinary profit rose 234.5% to ¥5,610 million; profit attributable to owners of parent increased 228.4% to ¥4,185 million.

• EBITDA rose 186.3% to ¥6,480 million; FY2024.3 results exceeded guidance by ¥169 million for operating profit and ¥184 million for parent-attributable profit.

Outlook and guidance

• FY2025.3 forecast: net sales ¥48,300 million (+25.8%), operating profit ¥9,000 million (+61.9%), ordinary profit ¥9,001 million (+60.4%) and parent-attributable profit ¥6,900 million (+64.8%).

• FY2025.3 EBITDA guidance is ¥10,161 million (+56.8%), with an operating margin of 18.6% versus 14.5% in FY2024.3.

• FY2026.3 targets include sales CAGR of 31–32%, profit of at least ¥10 billion and net assets of at least ¥20 billion; recruitment and marketing investment will continue, with a focus on efficiency and profitability.

• FY2025.3 dividend guidance is ¥3.90 per share, implying a 13th consecutive annual increase; policy targets a payout ratio above 10% and uses the prior-year dividend as a floor.