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Earnings presentation9246ProjectHoldings,Inc.Information and Communications, Services and Others

Financial Results Presentation for the First Quarter of the Fiscal Year Ending December 2026

In Q1 FY2026, revenue reached a record high as all segments posted higher revenue, and operating profit exceeded the year-earlier level. However, the profit margin declined due to higher recruitment costs, and the Company also decided to repurchase its own shares.

Worth reading
77Important
0–100. This measures how worthwhile something is to read, not how good or bad the company is.
Direction
Improvement
Direction inferred from the company’s description.
Scale
19.3
Year-on-year change in revenue (%)
Wording
Conditional
How definitive the wording is.

Contents of this document

Earnings presentationFirst quarter of the fiscal year ending December 202610 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥1,635 million+19.3%
Operating profit¥85 million+11.8%
Ordinary income¥86 million
Net income¥51 million
Selling, general and administrative expenses¥671 million
Gross Profit MarginDigital Transformation business: 50.0%, up 8.1 percentage points year on year (the year-earlier figure of 41.9% can be read from the chart, but no year-on-year comparison is explicitly stated in the text)
Operating profit margin5.2%, improved year on year (the year-on-year change in percentage points is not explicitly stated)
Results for the three months of the current quarterRevenue of ¥1,635 million, EBITDA of ¥128 million, an EBITDA margin of 7.8%, and operating profit of ¥85 million. These figures are presented as standalone Q1 results.
Full-year earnings forecast
Net Sales
¥6,600 million
Revenue from the Digital Transformation business
¥4,840 million
Revenue from the DX × Technology business and DX × HR business
¥1,760 million
Operating profit
¥500 million
Ordinary income
¥490 million
Profit attributable to owners of the parent
¥340 million
Progress against full-year forecast　通期の予想に対して、いまどこまで進んだかの割合です。
Consolidated revenue24.8%
Revenue from the Digital Transformation business24.9%
Revenue from the DX × Technology business and DX × HR business24.5%
Consolidated operating profit17.0%
Consolidated ordinary income17.6%
Profit attributable to owners of the parent15.0%
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
Consolidated Q1 revenue and operating profit are progressing favorably against plan. Operating profit and ordinary profit came in above plan. However, given the back-loaded earnings structure, the current progress rate is in line with plan.
Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
  • Recruitment costsQonQ +165.1%
  • Outsourcing costsQonQ +25.5%
  • Personnel expensesQonQ +5.0%
  • OtherQonQ +13.8%
  • Depreciation and other expensesQonQ -8.7%
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
Earnings are weighted toward the second half, and Q2 is expected to post lower revenue and profit than Q1 because of the fading of seasonal factors and the time required for new employees to become fully productive. Numerical assumptions: Not disclosed.
New initiatives
  • Decision to repurchase own shares
  • Strengthening management through the recruitment and development of managers
  • Promoting cross-selling and upselling centered on public health nurse services
Key KPIsA metric the company considers important as a management benchmark.
  • Consulting fee per consultant¥1,679 thousand/month
    Year on year against the same period last year+6.3%
  • Utilization rateTemporarily elevated level
  • Billable person-months
  • Employees at period-end (DX business)192 people
  • Number of engineers at period-end121 people
  • Number of services provided534 Cases/month
  • New contracts (occupational physician dispatch services)26 Engagements
  • New contracts (public health nurse services)9 Engagements
Unit price and quantity metricsThese figures show sales broken down by price and volume.
  • Consulting fee per consultant: ¥1,679 thousand/month; billable person-months and utilization rate
  • Fee per engineer: ¥660 thousand/month; 121 engineers
  • Services provided: 534 cases/month; average fee per transaction: ¥66 thousand/month
Segment results
  • Digital Transformation business
    Net Sales1,203
    Gross profit602
    Profit unit¥ million
    Year-on-year change in profit27.8
  • DX × Technology business
    Net Sales365
    Year-on-year change in revenue16.2
    Gross profit97
    Profit unit¥ million
    Year-on-year change in profit12.8
  • DX × HR business
    Net Sales121
    Year-on-year change in revenue34.4
    Gross profit57
    Profit unit¥ million
    Year-on-year change in profit32.6
Medium-term management plan targets
The EBITDA margin is expected to recover to approximately 15% in FY2028. Whether this is stated as an official medium-term management plan target: Not disclosed.
Number of employees
Consolidated employees: 370 (as of 31 March 2026). Employees at period-end in the DX business: 192. Mid-career hires: 23; departures: 12.
Acquisition of treasury shares
Number of shares acquired30,000 shares (maximum)
Acquisition price¥52,500,000 (maximum)
Period18 May 2026–12 August 2026
Contents of this document
ItemDetails
Document typeEarnings presentation
Fiscal Period CoveredFirst quarter of the fiscal year ending December 2026
Net Sales¥1,635 million (YoY +19.3%)
Operating profit¥85 million (YoY +11.8%)
Ordinary income¥86 million
Net income¥51 million
Gross Profit MarginDigital Transformation business: 50.0%, up 8.1 percentage points year on year (the year-earlier figure of 41.9% can be read from the chart, but no year-on-year comparison is explicitly stated in the text)
Operating profit margin5.2%, improved year on year (the year-on-year change in percentage points is not explicitly stated)
Selling, general and administrative expenses¥671 million
Results for the three months of the current quarterRevenue of ¥1,635 million, EBITDA of ¥128 million, an EBITDA margin of 7.8%, and operating profit of ¥85 million. These figures are presented as standalone Q1 results.
Full-year earnings forecastNet Sales ¥6,600 million / Revenue from the Digital Transformation business ¥4,840 million / Revenue from the DX × Technology business and DX × HR business ¥1,760 million / Operating profit ¥500 million / Ordinary income ¥490 million / Profit attributable to owners of the parent ¥340 million
Progress against full-year forecastConsolidated revenue 24.8% / Revenue from the Digital Transformation business 24.9% / Revenue from the DX × Technology business and DX × HR business 24.5% / Consolidated operating profit 17.0% / Consolidated ordinary income 17.6% / Profit attributable to owners of the parent 15.0%
Self-assessment against the planConsolidated Q1 revenue and operating profit are progressing favorably against plan. Operating profit and ordinary profit came in above plan. However, given the back-loaded earnings structure, the current progress rate is in line with plan.
Segment resultsSegment Digital Transformation business / Net Sales ¥1,203 million / Year-on-year change in revenue Not disclosed / Gross profit ¥602 million / Profit unit ¥ million / Year-on-year change in profit ¥27.8 million, Segment DX × Technology business / Net Sales ¥365 million / Year-on-year change in revenue ¥16.2 million / Gross profit ¥97 million / Profit unit ¥ million / Year-on-year change in profit ¥12.8 million, Segment DX × HR business / Net Sales ¥121 million / Year-on-year change in revenue ¥34.4 million / Gross profit ¥57 million / Profit unit ¥ million / Year-on-year change in profit ¥32.6 million
Breakdown of Factors Affecting the ChangeFactors Recruitment costs / Amount QonQ +165.1%, Factors Outsourcing costs / Amount QonQ +25.5%, Factors Personnel expenses / Amount QonQ +5.0%, Factors Other / Amount QonQ +13.8%, Factors Depreciation and other expenses / Amount QonQ -8.7%
Key KPIsIndicator Consulting fee per consultant / Value ¥1,679 thousand/month / Year on year against the same period last year ¥6.3 thousand/month, Indicator Utilization rate / Value Temporarily elevated level / Year on year against the same period last year Not disclosed, Indicator Billable person-months / Value Not disclosed / Year on year against the same period last year Not disclosed, Indicator Employees at period-end (DX business) / Value 192 people / Year on year against the same period last year Not disclosed, Indicator Number of engineers at period-end / Value 121 people / Year on year against the same period last year Not disclosed, Indicator Number of services provided / Value 534 Cases/month / Year on year against the same period last year Not disclosed, Indicator New contracts (occupational physician dispatch services) / Value 26 Engagements / Year on year against the same period last year Not disclosed, Indicator New contracts (public health nurse services) / Value 9 Engagements / Year on year against the same period last year Not disclosed
Unit price and quantity metricsConsulting fee per consultant: ¥1,679 thousand/month; billable person-months and utilization rate, Fee per engineer: ¥660 thousand/month; 121 engineers, Services provided: 534 cases/month; average fee per transaction: ¥66 thousand/month
Number of employeesConsolidated employees: 370 (as of 31 March 2026). Employees at period-end in the DX business: 192. Mid-career hires: 23; departures: 12.
Assumptions Underlying the Business OutlookEarnings are weighted toward the second half, and Q2 is expected to post lower revenue and profit than Q1 because of the fading of seasonal factors and the time required for new employees to become fully productive. Numerical assumptions: Not disclosed.
Medium-term management plan targetsThe EBITDA margin is expected to recover to approximately 15% in FY2028. Whether this is stated as an official medium-term management plan target: Not disclosed.
Acquisition of treasury sharesNumber of shares acquired 30,000 shares (maximum) / Acquisition price ¥52,500,000 (maximum) / Period 18 May 2026–12 August 2026
New initiativesDecision to repurchase own shares, Strengthening management through the recruitment and development of managers, Promoting cross-selling and upselling centered on public health nurse services
Items this document does not state (9)
Number of stores and locationsRisk amount incorporated into the outlookFinancial targetsAnnual DividendPayout ratioCapital expendituresOrders received and order backlogMarket Size / ShareKey points of the Q&A

These are items the company does not state in this document. We do not leave them blank, nor fill them in from other sources or by inference.

The reasons the company gives

The company's own explanation, not something inferred from the numbers.

The main factors behind the increase in revenue were improved utilization rates and pricing in the Digital Transformation business, an increase in the number of engineers in the DX × Technology business, and an increase in the number of services provided in the DX × HR business. In addition to higher revenue, profit benefited from an improvement in the gross profit margin of the Digital Transformation business, which more than offset increases in expenses such as recruitment costs.

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Financial Results Presentation for the First Quarter of the Fiscal Year Ending December 2026 | ProjectHoldings,Inc. (9246) timely disclosure | Komori