SKY Perfect JSAT Holdings (9412) Q2 2026 earnings summary

Executive summary

• Consolidated net income rose 21.1% year-over-year to ¥11.8 billion for the six months ended September 30, 2025, reaching 56% of the full-year forecast.

• Operating income increased 24% year-over-year to ¥17.2 billion, with EBITDA up 2.4% to ¥25.3 billion and ordinary profit up 29.2% to ¥18.1 billion.

• Space Business saw revenue and profit growth, driven by expanded solution services and new contracts in the national security sector.

• Media Business achieved profit growth through operational efficiency, despite a recorded impairment loss from the Connected TV business.

• Comprehensive income increased 37.4% year-over-year to ¥13.0 billion.

Financial highlights

• Revenue for the period was ¥60.9 billion, nearly flat year-over-year (down 0.2%).

• Basic earnings per share was ¥41.53, up from ¥34.30 a year earlier.

• Net assets as of September 30, 2025, were ¥292.7 billion, with an equity ratio of 72.5%.

• Cash and cash equivalents at period end were ¥81.1 billion, down from ¥115.1 billion at the start of the period.

• Free cash flow turned negative at ¥-11.9 billion due to increased investment activities.

Outlook and guidance

• Full-year revenue forecast is ¥127.6 billion, with operating income projected at ¥30.8 billion and net income at ¥21.0 billion.

• Full-year ordinary profit is projected at ¥31.5 billion (up 15.4%).

• Annual dividend forecast is ¥38.00 per share, including a ¥19.00 special dividend.

• Space Business aims to offset declines in broadcasting revenue by expanding mobility communication services.

• Media Business targets profit growth through core product focus, cost reforms, and fiber-optic alliances.