JBCC Holdings (9889) Q2 2025 earnings summary

Executive summary

• Achieved year-over-year revenue growth of 8.6% and operating profit growth of 39.5% for the first half, driven by strong performance in cloud and security, and launched a new three-year mid-term plan for sustainable growth.

• Business structure reforms enhanced profitability, with operating margin up 2.0pts year-over-year.

• Achieved record sales and profit growth, supported by hardware refreshes and strong cloud and security business.

• Progress exceeded initial plans, leading to upward revisions in full-year earnings and dividend forecasts.

Financial highlights

• First-half revenue: ¥35,822 million (+8.6% YoY); operating profit: ¥3,182 million (+39.5% YoY); net profit attributable to parent: ¥2,307 million (+36.2% YoY).

• Operating income rose 34.2% to ¥3,062 million; ordinary income up 34.2% to ¥3,201 million; net income attributable to shareholders increased 31.0% to ¥2,219 million.

• EPS for the period was ¥143.19, up from ¥107.50 year-over-year.

• Operating margin improved to 8.9% (+2.0pts YoY); net margin at 6.4% (+1.3pts YoY).

• Quarterly revenue and profit trends show continued growth, with Q2 revenue at ¥17,703 million and operating margin at 9.3%.

Outlook and guidance

• Full-year revenue forecast maintained at ¥66,500 million (+2.0% YoY); operating profit revised up to ¥5,800 million (+31.1% YoY); net profit forecast raised to ¥4,100 million (+28.6% YoY).

• Full-year operating income forecast revised up to ¥5,800 million (+13.7%), ordinary income to ¥5,900 million (+13.5%), and net income to ¥4,100 million (+14.2%).

• Year-end dividend forecast increased by ¥18 to ¥71 per share; annual dividend projected at ¥124 per share.

• Dividend payout ratio expected at 46.8%.