JGC (1963) Q3 2025 earnings summary

Executive summary

• Orders intake reached 80% of the annual target, driven by a major project in Indonesia, to be recorded in 4Q.

• Full-year earnings forecast revised downward due to additional costs, project delays, and subcontractor issues in Taiwan, Saudi Arabia, and Canada.

• Management restructuring announced, with the president resigning and a new leadership structure effective April 2025.

• Net sales for nine months were JPY 604.1 billion, nearly flat year-over-year.

• Net loss attributable to owners was JPY 3.9 billion, reversing from a profit last year.

Financial highlights

• Gross profit dropped 90% year-over-year to JPY 3.1 billion.

• Operating loss was JPY 19.2 billion; ordinary profit was JPY 0.1 billion.

• EPS was negative at JPY (16.43), compared to JPY 44.08 last year.

• Total assets at JPY 776.3 billion, down from the start of the year; equity ratio stable at 48.7%.

• Comprehensive income was JPY 1.5 billion, down from JPY 13.7 billion in the prior year.

Outlook and guidance

• Full-year forecast revised: net sales at JPY 830.0 billion, operating loss of JPY 14 billion, net loss at JPY 4 billion.

• Ordinary profit forecast at JPY 6 billion.

• Dividend per share remains unchanged at JPY 40.

• Exchange rate assumption for Q4 is 150 yen to the U.S. Dollar.

• New contracts target maintained at JPY 970.0 billion.