BayCurrent Consulting (6532) Q2 2025 earnings summary

Executive summary

• Revenue for the first half of FY2025 rose 23.7% year-on-year to ¥54,094 million, driven by strong consulting demand, especially in DX and AI projects.

• EBITDA increased 17.4% year-on-year to ¥18,606 million, with a margin of 34.4%, within the planned range.

• Net profit grew 18.6% year-on-year to ¥13,368 million, and basic EPS reached ¥87.80.

• Continued strategic investments in talent acquisition, capability expansion, and a new technology division, including transition to a holding company structure.

• Maintained a stable business environment with high demand for comprehensive consulting services across industries, despite talent shortages and evolving digital needs.

Financial highlights

• FY2025 H1 revenue: ¥54,094 million (YOY +23.7%); full-year forecast: ¥115,000 million (YOY +22.5%).

• FY2025 H1 EBITDA: ¥18,606 million (YOY +17.4%, margin 34.4%); full-year forecast: ¥42,000 million (YOY +18.9%, margin 36.5%).

• Net income forecast for FY2025: ¥30,300 million (YOY +19.4%), EPS: ¥199.49 (YOY +20.1%).

• Gross profit for the period was ¥27,834 million, up 18.3% year-on-year, with a gross margin of 51.5%.

• H1 results in line with plan; minor impact from higher hiring costs, but overall expenses within expectations.

Outlook and guidance

• Full-year revenue and EBITDA expected to track plan, with continued growth in consultant headcount and project volume.

• Business model remains seasonally weighted to the second half, with both revenue and EBITDA expected to increase in H2.

• Five-year plan targets 20% CAGR, aiming for ¥250 billion revenue in FY2029 while maintaining 30–40% EBITDA margin.

• No revisions have been made to the previously announced forecasts.