Relo Group (8876) Q2 2025 earnings summary

Executive summary

• Revenue rose 10.9% year-over-year to ¥70,073 million, with net income up 273.6% to ¥32,972 million, driven by core business growth and a significant one-time gain from the sale of an equity-method subsidiary.

• Excluding one-time gains, net income increased 26.8% year-over-year, reflecting robust underlying business growth.

Financial highlights

• Operating profit increased 25.1% year-over-year to ¥15,664 million.

• Profit before income taxes surged 190.6% year-over-year, including gains from asset and share sales.

• Adjusted profit before income taxes (excluding one-time gains) grew 23.6% year-over-year.

• Adjusted net income (excluding one-time gains) rose 26.8% year-over-year to ¥11,191 million.

• Gross profit increased to ¥31,782 million from ¥28,881 million year-over-year, with basic EPS at ¥216.52, up from ¥57.75.

Outlook and guidance

• Full-year revenue forecast is ¥140,000 million (up 5.6%), with operating profit of ¥30,000 million (up 8.6%) and profit attributable to owners of the parent of ¥33,000 million.

• Dividend forecast for FY2025 is ¥42 per share, including a ¥4 special dividend tied to one-time earnings.

• Segment growth is expected in Leased Corporate Housing (+10.7%), Relocation Support (+9.8%), Fringe Benefits (+16.1%), and Tourism (+8.7%).