BayCurrent Consulting (6532) Q4 2025 earnings summary

Executive summary

• Revenue rose 23.6% year-over-year to ¥116,056 million, with EBITDA up 23.2% to ¥43,489 million and profit attributable to owners of parent up 21.2% to ¥30,760 million.

• Achieved strong full-year growth in FY2025, exceeding guidance, with robust demand for consulting services, especially in DX and generative AI.

• Transitioned to consolidated accounting and a holding company structure, reflecting expanded group operations.

• Continued expansion of consultant headcount and core client base, supporting medium-term growth strategy.

• Announced upward revision of year-end dividend and new capital allocation approach for FY2026, targeting higher shareholder returns.

Financial highlights

• FY2025 revenue: ¥116,056 million (YoY +23.6%); EBITDA: ¥43,489 million (YoY +23.2%, margin 37.5%).

• Operating profit rose 24.5% to ¥42,615 million; gross profit increased 21.8% to ¥62,455 million.

• EPS increased to ¥202.16 (YoY +21.8%).

• Cash and cash equivalents at year-end were ¥60,552 million, up ¥14,774 million.

• Equity attributable to owners of parent reached ¥94,401 million, with a ratio to total assets of 75.7%.

Outlook and guidance

• FY2026 revenue forecast: ¥143,000 million (YoY +23.2%); EBITDA: ¥52,000 million (YoY +19.6%, margin 36.4%).

• Consultant headcount expected to rise to ~5,700 (YoY +20%), with revenue per consultant stable.

• Annual dividend projected to rise to ¥100 per share (from ¥62), with a target total return ratio of 40%.

• Capital allocation to maintain annual cash at ~40% of forecasted revenue, with surplus cash returned via treasury share purchases.