Square Enix (9684) Q4 2025 earnings summary

Executive summary

• Net sales for FY ended March 31, 2025 were ¥324.5B, down 8.9% or ¥31.8B year-over-year.

• Operating income rose 24.6% to ¥40.5B, with margin improving to 12.5%.

• Profit attributable to owners increased 63.7% to ¥24.4B.

• Comprehensive income grew 72.7% year-over-year to ¥25.2B.

• A new medium-term plan focuses on optimizing development, diversifying earnings, and balancing growth investment with shareholder returns.

Financial highlights

• Net sales: ¥324.5B (down from ¥356.3B YoY).

• Operating income: ¥40.5B (up from ¥32.5B YoY).

• Ordinary income: ¥40.9B (slightly down from ¥41.5B YoY).

• Operating margin improved to 12.5% from 9.1% YoY; ROE rose to 7.5% from 4.7%.

• Annual dividend per share was ¥129, with a payout ratio of 63.4%.

Outlook and guidance

• FY ending March 31, 2026 forecast: net sales ¥280.0B (down 13.7%), operating income ¥41.0B (up 1.0%), profit attributable to owners ¥28.7B (up 17.6%).

• Earnings per share forecast is ¥79.70, reflecting a 3-for-1 stock split effective October 1, 2025.

• Year-end dividend for FY2026 projected at ¥75 per share pre-split, with interim dividend of ¥54 per share.