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CHANGE Holdings (3962) investor relations material
CHANGE Holdings Q2 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 2026 earnings summary13 Nov, 2025
Executive summary
Revenue increased 34.9% year-over-year to ¥22,266 million, driven by core business segments, new consolidations, and early contributions from the hometown tax business.
Operating profit declined 34.4% year-over-year to ¥2,500 million due to higher investments and the absence of prior year one-time gains.
Profit attributable to owners of parent fell 24.8% year-over-year to ¥1,561 million.
Hometown tax business expects a typical Q3 peak, with post-October performance progressing smoothly as marketing competition subsides.
M&A intermediary business is accelerating, with alliance-driven deal introductions ramping up in the second half.
Financial highlights
EBITDA rose 13.4% year-over-year to ¥3,859 million, with an EBITDA margin of 17.3%.
EPS decreased 23.7% year-over-year to ¥22.45.
Parent company profit attributable to owners fell 24.8% year-over-year to ¥1,561 million.
Gross profit increased to ¥11,026 million from ¥7,168 million year-over-year.
Total assets grew to ¥120,651 million as of September 30, 2025, up from ¥104,861 million at March 31, 2025.
Outlook and guidance
Full-year revenue forecast is ¥55,000 million (+18.6% YoY), with operating profit expected at ¥14,000 million (+4.3% YoY).
EPS is projected at ¥113.60 (+6.6% YoY), and ROE at 17.8%.
Dividend per share is planned at ¥23.0.
Growth is expected from organic expansion and new consolidations (fundbook, TCS), with a conservative outlook for the hometown tax segment due to regulatory changes.
No changes to previously announced financial forecasts.
NEW-IT segment profit outlook post-investments?
Explain operating cash flow drivers this period
Publitech growth post-hometown tax program change?
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Next CHANGE Holdings earnings date
Q3 202612 Feb, 2026
Next CHANGE Holdings earnings date
Q3 202612 Feb, 2026
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Frequently asked questions
CHANGE Holdings Inc is a Japan-based company engaged in digital transformation and human resource development services. The company provides IT solutions, including data analytics, cloud computing, and mobile applications, to support corporate and government clients in their digital initiatives. It also offers training and consulting services focused on improving digital literacy and leadership skills. CHANGE Holdings operates across various sectors, including public administration, finance, and healthcare. The company is headquartered in Tokyo, Japan, and its shares are listed on the TSE.
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