transcosmos (9715) Q4 2025 earnings summary

Executive summary

• Consolidated net sales reached ¥375.85bn, up 3.8% YoY, with operating profit up 26.1% to ¥14.48bn and net profit up 12.2% to ¥11.33bn, all at record levels.

• EPS rose from ¥269 to ¥302.41.

• Dividend per share planned at ¥106, up ¥25 YoY, with a target payout ratio of 35%.

• BPO and CX services, as well as overseas markets, drove growth; AI-powered solutions and JVs enhanced offerings.

• Comprehensive income grew 38.3% YoY to ¥14.33bn.

Financial highlights

• Net sales up 3.8% YoY to ¥375.85bn; gross profit up 5.8% to ¥72.24bn.

• Operating profit up 26.1% YoY to ¥14.48bn; OP margin improved from 3.2% to 3.9%.

• Basic EPS rose to ¥302.41 from ¥269.46 YoY.

• Cash and cash equivalents at year-end were ¥73.13bn, up from ¥64.42bn.

• Net assets increased to ¥129.07bn, with an equity-to-asset ratio of 57.0%.

Outlook and guidance

• FY2026/3 forecast: net sales to rise 6.4% to ¥400.0bn, operating profit up 7.1% to ¥15.5bn.

• Profit attributable to owners expected to increase 1.5% to ¥11.5bn; EPS forecast at ¥306.89.

• Dividend per share expected to rise to ¥108; payout ratio to remain above 35%.

• Growth to continue in CX and BPO services, but medium-term numeric targets unlikely due to China slowdown and higher costs.