Global Security Experts (4417) Q3 2026 earnings summary

Executive summary

• Achieved record-high revenue and profit for Q3, with revenue for the nine months ended December 31, 2025, rising 24.1% year-over-year to ¥7,807 million, driven by strong demand for cybersecurity services and education, and robust growth across all business domains and customer segments.

• Operating income increased 35.1% year-over-year to ¥1,578 million, and net income attributable to shareholders grew 39.5% to ¥998 million, both marking record highs for the third quarter.

• Progress toward full-year guidance is on track, with both revenue and operating profit at approximately 71% of annual targets by Q3.

• All service lines experienced growth, with robust demand from mid-sized and smaller enterprises and heightened needs for cybersecurity education.

• Despite recording equity-method investment losses, recurring and net income continued to grow robustly.

Financial highlights

• Q3 revenue: ¥7,807 million, up 24.1% year-over-year.

• Q3 operating profit: ¥1,578 million, up 35.1% year-over-year.

• Q3 net income: ¥998 million, up 39.5% year-over-year.

• Gross profit reached ¥2,840 million, up from ¥2,217 million in the prior year period.

• EPS for Q3: ¥66.42, up ¥18.76 year-over-year, adjusted for a 2-for-1 stock split.

Outlook and guidance

• Full-year revenue forecast: ¥11,000 million (+25% YoY); operating profit: ¥2,200 million (+36.2% YoY); net income expected at ¥1,417 million, up 40.3% year-over-year.

• Targeting operating margin of 20% and recurring margin of 19.8%.

• No changes have been made to previously announced earnings or dividend forecasts.

• All business segments expected to post year-over-year revenue growth.