DIP Corporation (2379) Q4 2025 earnings summary

Executive summary

• Full-year sales rose 4.8% year-over-year to ¥56.4 billion, with operating income up 5.0% to ¥13.4 billion, despite a weaker-than-expected market and increased investment in Spot Baitoru.

• Q4 sales grew 1.5% year-over-year to ¥13.7 billion, but operating income declined 14.3% to ¥2.52 billion due to upfront investments in Spot Baitoru.

• Excluding Spot Baitoru investments, existing business operating income increased 15% year-over-year.

• Market share expanded, especially in food, beverage, and retail sectors, with Baitoru maintaining No.1 app downloads and rising MAU.

• Net income attributable to owners declined 1.1% to ¥8.95 billion.

Financial highlights

• Gross profit reached ¥50.5 billion, up from ¥47.96 billion year-over-year.

• Advertising and promotional expenses ratio rose by 2.3 points year-over-year in Q4 due to Spot Baitoru investment.

• DX Business sales grew 12.4% to ¥6.72 billion, with segment profit up 19.5%.

• Personnel Recruiting Services sales increased 3.9% to ¥49.7 billion, segment profit up 7.0%.

• Operating income margin was 23.8%, nearly flat year-over-year.

Outlook and guidance

• FY'26/2 sales are forecast to rise 6.4% to ¥60 billion, but operating income is expected to fall 10.5% to ¥12 billion due to ¥4 billion upfront investment in Spot Baitoru.

• Net income is projected to decrease 10.6% to ¥8 billion.

• Medium-term plan targets sales of ¥65 billion and operating income over ¥17 billion.

• DX Business sales projected to grow 10.1% to ¥7.4 billion, with segment profit up 23.9%.

• Personnel Recruiting Services sales expected to rise 5.9% to ¥52.6 billion, but segment profit to decline 7.0% to ¥17.1 billion.