SKY Perfect JSAT Holdings (9412) Q3 2025 earnings summary

Executive summary

• Q3 cumulative net income reached ¥14.4 billion, achieving 80% of the initial ¥18 billion forecast, with an upward revision to ¥19 billion for the full year, expecting record-high profit since listing.

• Operating revenues for the nine months ended December 31, 2024, rose 0.9% year-over-year to ¥91,860 million.

• Operating profit increased 3.6% year-over-year to ¥21,285 million, and profit attributable to owners of parent grew 7.7% to ¥14,404 million.

• Revenue, operating income, and net income all exceeded year-over-year results, prompting an upward revision of full-year financial forecasts.

• Comprehensive income declined sharply to ¥8,775 million, down 51.7% year-over-year.

Financial highlights

• FY2024 Q3 cumulative revenue: ¥91.9 billion (+0.8 YoY); operating income: ¥21.3 billion (+0.7 YoY); net income: ¥14.4 billion (+1.0 YoY); EBITDA: ¥36.6 billion (+0.3 YoY).

• Revised full-year forecasts: revenue ¥124.0 billion (+0.9% vs initial), operating income ¥28.0 billion (+3.6%), net income ¥19.0 billion (+7.7%), EBITDA ¥47.6 billion (+0.9%).

• Ordinary profit for the period was ¥21,194 million, up 1.2% year-over-year.

• Basic earnings per share increased to ¥50.84 from ¥46.29 year-over-year.

• Free cash flow for Q3 cumulative: ¥18.3 billion; cash and equivalents at term-end: ¥116.8 billion.

Outlook and guidance

• Full-year operating income and net income forecasts revised upward, expecting record-high profit.

• Full-year operating revenues are forecast at ¥124,000 million, up 1.7% year-over-year.

• Operating profit is projected to reach ¥28,000 million, a 5.5% increase year-over-year.

• Basic earnings per share forecast for the full year is ¥67.06.

• Annual dividend per share forecast increased to ¥27, with cumulative shareholder returns for FY2022–FY2024 expected at ¥24.5 billion.