Back to Articles
92462025 Full YearGrowthJGAAP

ProjectHoldings (9246) FY2025 FY Earnings Report

For FY2025 FY, revenue came to ¥5.5B (+3.9% year on year) and operating income ¥155.0M. The segment drivers and cash flow follow.

ProjectHoldings,Inc.

IT & Services, Others/Services


Financial Highlights

  • Net Sales: ¥5.49B
  • Operating Income: ¥155M
  • Net Income: ¥127M
  • EPS: ¥23.73

Income Statement

ItemCurrentPriorYoY %
Net Sales¥5.49B¥5.28B+3.9%
Cost of Sales¥3.51B¥3.52B−0.4%
Gross Profit¥1.98B¥1.76B+12.6%
SG&A Expenses¥1.82B¥1.94B−6.3%
Operating Income¥155M−¥187M+182.9%
Non-operating Income¥18M¥15M+17.0%
Non-operating Expenses¥29M¥57M−49.4%
Ordinary Income¥144M−¥229M+162.9%
Profit Before Tax¥138M−¥286M+148.2%
Income Tax Expense¥11M¥108M−89.6%
Net Income¥127M−¥394M+132.2%
Net Income Attributable to Owners¥126M−¥393M+132.1%
Total Comprehensive Income¥126M−¥393M+132.1%
Depreciation & Amortization¥119M¥212M−44.0%
Interest Expense¥26M¥23M+10.9%
Basic EPS¥23.73−¥72.59+132.7%
Diluted EPS¥23.56--
Dividend Per Share¥0.00¥0.00-

Balance Sheet

ItemCurrent EndPrior EndChange
Current Assets¥2.91B¥3.68B−¥769M
Cash and Deposits¥2.10B¥2.62B−¥529M
Accounts Receivable¥648M¥586M+¥62M
Non-current Assets¥1.72B¥1.86B−¥139M
Property, Plant & Equipment¥533M¥580M−¥46M
Intangible Assets¥396M¥448M−¥52M
Goodwill¥225M¥256M−¥31M
Total Assets¥4.63B¥5.54B−¥908M
Current Liabilities¥1.50B¥1.50B−¥330,000
Accounts Payable¥161M¥195M−¥33M
Non-current Liabilities¥877M¥1.80B−¥926M
Long-term Loans¥736M¥1.59B−¥855M
Total Liabilities¥2.37B¥3.30B−¥926M
Total Equity¥2.26B¥2.24B+¥19M
Capital Stock¥50M¥50M¥0
Capital Surplus¥926M¥1.57B−¥646M
Retained Earnings¥1.48B¥1.35B+¥127M
Treasury Stock−¥201M−¥729M+¥528M
Owners' Equity¥2.25B¥2.24B+¥9M
Working Capital¥1.42B--

Cash Flow Statement

ItemCurrentPriorChange
Operating Cash Flow¥569M−¥131M+¥700M
Investing Cash Flow¥35M¥6M+¥29M
Financing Cash Flow−¥1.13B−¥21M−¥1.11B
Free Cash Flow¥604M--

Profitability Ratios

ItemValue
Operating Margin2.8%
ROA (Ordinary Income)2.8%
Book Value Per Share¥422.91
Net Profit Margin2.3%
Gross Profit Margin36.1%
Current Ratio194.9%
Quick Ratio194.9%
Debt-to-Equity Ratio1.05x
Interest Coverage Ratio5.96x
EBITDA Margin5.0%
Effective Tax Rate8.1%

Year-over-Year Comparison

ItemYoY Change
Net Sales YoY Change+3.9%
Operating Revenues YoY Change+26.9%
Operating Income YoY Change+234.8%

Share Information

ItemValue
Shares Outstanding (incl. Treasury)5.49M shares
Treasury Stock167K shares
Average Shares Outstanding5.34M shares
Book Value Per Share¥424.76
EBITDA¥274M

Dividend Information

ItemAmount
Q2 Dividend¥0.00
Year-End Dividend¥0.00

Segment Information

SegmentRevenueOperating Income
DXHR¥214M¥1M
DXTechnology¥1.28B¥46M
DigitalTransformation¥3.99B¥652M

Full Year Forecast

ItemForecast
Net Sales Forecast¥6.60B
Operating Income Forecast¥500M
Ordinary Income Forecast¥490M
Net Income Attributable to Owners Forecast¥340M
Basic EPS Forecast¥63.72
Dividend Per Share Forecast¥0.00