For the 9 months ended May 2026, SHIFT posted revenue of ¥115.8 billion, up 21.4% year on year, while operating profit, ordinary profit and net profit all declined. The decline was attributed to higher recruitment costs, a temporary deterioration in utilisation due to preparations for major projects, and equity-method investment losses.
In SHIFT's results for the 9 months ended May 2026, revenue rose 21.4% year on year to ¥115.8 billion. Operating profit was ¥11.4 billion, ordinary profit was ¥7.3 billion and net profit was ¥4.0 billion, with each declining from the same period of the previous year. Factors cited as suppressing recent profits included the normalisation of recruitment, the concentration of sales resources following the acquisition of major projects, and ¥3.9 billion in equity-method investment losses as an external factor.
Against the backdrop of higher revenue but lower profit, the company indicated that revenue growth would support future growth. Full-year revenue is expected to reach ¥160.0 billion, up 23.2% from the previous fiscal year, representing progress of 72.4%.
The share price has been volatile over the past month, rebounding on 7 August, while the PBR remains high at more than 6 times. The market is said to be placing greater emphasis on pricing in future growth than on the outlook for profits.
These results are viewed as an example of both external factors and internal investment affecting profit, with growth investment expenses seen as weighing on short-term earnings.