Gakken Holdings (9470) Q3 2025 earnings summary

Executive summary

• Net sales rose 6.2% year-over-year to ¥146.7 billion, driven by acquisitions, publishing, and expansion in healthcare and workforce development.

• Operating profit declined 0.6% year-over-year to ¥5.12 billion due to higher costs, especially in healthcare and nursing, despite gains from price revisions.

• Net profit surged 46.4% year-over-year to ¥2.73 billion, mainly from step acquisition gains related to DTP Education Solutions JSC and absence of prior-year stock sale losses.

• Ordinary profit decreased 7.5% year-over-year to ¥4.73 billion, reflecting lower operating profit and reduced equity in earnings of affiliates.

• EBITDA increased 2.6% year-over-year to ¥8.38 billion.

Financial highlights

• Gross profit increased to ¥39.32 billion from ¥37.18 billion year-over-year.

• EPS for the nine months was 65.74 yen, up from 43.72 yen year-over-year.

• Comprehensive income rose 39.1% year-over-year to ¥3.08 billion.

• Total assets increased 6.3% from September 2024, reaching ¥138.9 billion; equity ratio fell to 37.3%.

• Net assets increased to ¥56.38 billion.

Outlook and guidance

• Full-year net sales target remains ¥200.0 billion, with operating profit projected at ¥7.0 billion and net profit at ¥3.5 billion.

• Ordinary profit forecast at ¥7.2 billion (+4.3% year-over-year).

• EPS forecast for the full year is 84.02 yen.

• ROE is expected to improve from 4.3% to 6.6% year-over-year.