Rebase (5138) Q3 2025 earnings summary

Executive summary

• Revenue and all profit stages exceeded initial forecasts, prompting an upward revision of full-year guidance.

• Revenue for the nine months ended December 2024 was ¥1,416.6 million, up 30.5% year-over-year, with operating profit up 47.3% to ¥377.4 million and net profit up 47.9% to ¥241.0 million.

• Strong growth driven by effective seasonality strategies and recovery in private consumption, with the space-sharing market expected to expand.

• 10th anniversary commemorative dividend and shareholder benefit program announced.

Financial highlights

• Operating income reached ¥377.4 million, a 47.3% increase year-over-year, and net income was ¥241.0 million, up 47.9% year-over-year.

• Revenue for the nine months ended December 2024 was ¥1,416.6 million, up 30.5% year-over-year.

• EPS for the period was ¥52.16, compared to ¥35.38 in the prior year.

• Total assets increased to ¥1,832.8 million, up from ¥1,466.3 million at the previous fiscal year-end.

• Operating margin for Q3 was 30%, up from 29% in the prior year.

Outlook and guidance

• Full-year revenue forecast revised upward to ¥1,920 million, a 29% increase year-over-year.

• Operating income guidance raised to ¥450 million (+34% YoY), net income to ¥306 million (+34% YoY), and EPS forecast at ¥66.26.

• Year-end dividend forecast revised to ¥35 per share, including a commemorative dividend for the 10th anniversary.

• Progress rates for revenue and profit targets are above 75% as of Q3.