Fullcast Holdings (4848) Q1 2025 earnings summary

Executive summary

• Net sales decreased by 3.0% year-over-year to ¥16,625 million, mainly due to the exclusion of BOD Co., Ltd. from consolidation, despite growth in core outsourcing, payroll management, and Placement and BPO services.

• Operating profit declined by 11.5% year-over-year to ¥2,084 million, impacted by lower sales and ¥226 million in strategic investment costs.

• Profit attributable to owners of parent dropped 38.1% year-over-year to ¥1,363 million, reflecting a prior-year gain from the sale of BOD Co., Ltd.

• Acquisition of Tuclicks Inc. as a consolidated subsidiary was completed on January 31, 2025.

Financial highlights

• Gross profit was stable at ¥6,326 million, up 0.1% year-over-year.

• SG&A expenses increased by 7.0% year-over-year to ¥4,242 million.

• Ordinary profit fell 9.6% year-over-year to ¥2,107 million.

• Basic earnings per share fell to 38.81 yen from 62.55 yen year-over-year.

• Net assets decreased to 28,537 million yen, with an equity-to-asset ratio of 69.6%.

Outlook and guidance

• Full-year net sales forecast at 73,020 million yen, up 6.5% year-over-year; operating profit projected at 8,325 million yen, up 16.7%.

• No revision to business forecasts as first quarter results are in line with expectations.

• 1Q results represent 47–49% progress toward first-half forecasts for key metrics, and 22–25% toward full-year targets.