GMO internet group Reports FY2025 Full-Year Results — Operating Profit +19.5%, Dividend Raised to JPY 52
GMO internet group, Inc. (GMOインターネットグループ; TSE:9449) released its full-year results for the fiscal year ended December 2025 — its first reporting period under IFRS (International Financial Reporting Standards), which the company adopted voluntarily from the 2025 fiscal year, transitioning from Japanese GAAP.
Key Numbers
| Metric | FY2025 | FY2024 | YoY |
|---|---|---|---|
| Revenue | ¥285.3bn | ¥276.2bn | +3.3% |
| Operating Profit | ¥59.1bn | ¥49.5bn | +19.5% |
| Operating Margin | 20.7% | 17.9% | +2.8pp |
| Net Profit (parent) | ¥16.7bn | ¥14.8bn | +12.8% |
| EPS | ¥243.74 | — | — |
| Annual Dividend | ¥52.00 | ¥41.80 | +24.4% |
Analysis
GMO internet group delivered a solid set of full-year results, with revenue growing 3.3% to ¥285.3bn and operating profit surging 19.5% to ¥59.1bn. The operating margin expanded by 2.8 percentage points to 20.7%, reflecting meaningful improvement in cost efficiency and a continued shift toward higher-margin business lines.
The group's diversified portfolio — spanning internet infrastructure, online finance, advertising, and cryptocurrency — contributed broadly to the earnings improvement. Internet finance and cryptocurrency operations, in particular, benefited from favorable market conditions during the year, while core infrastructure and domain services provided a stable revenue base.
Net profit attributable to parent company shareholders rose 12.8% to ¥16.7bn, a notable acceleration from the prior year. The board has responded by raising the annual dividend by ¥10.20 per share to ¥52.00 — a 24.4% increase — signaling confidence in sustainable earnings power.
IFRS Adoption
This is the first fiscal year in which GMO internet group has reported under IFRS, having voluntarily adopted the standard from the 2025 fiscal year. The transition from Japanese GAAP affects line-item presentation and certain recognition timing differences, so direct comparisons with pre-2025 figures should be made with caution. The company has restated prior-year figures on an IFRS basis for comparability.
What to Watch
- No FY2026 Guidance: The company has declined to provide consolidated earnings forecasts for FY2026, citing elevated uncertainty in the macroeconomic environment — particularly in cryptocurrency markets and financial market conditions. This is not uncommon for companies with significant exposure to volatile assets, and does not in itself signal a negative outlook.
- Equity Method Improvement: Investment income (equity method) improved from -¥891M in FY2024 to +¥132M in FY2025, suggesting stabilisation among affiliated companies.
- Dividend Track Record: The dividend raise continues a multi-year trend of shareholder returns, though investors should monitor the FY2026 guidance situation as it develops.
- Cryptocurrency Exposure: GMO's earnings remain sensitive to Bitcoin and broader digital asset market conditions — a potential amplifier in both directions.
Conclusion
GMO internet group closed FY2025 with strong operating momentum: revenue and profit both grew, margins expanded, and the dividend was raised substantially. The IFRS transition adds a note of caution to year-on-year comparisons, while the absence of FY2026 guidance reflects genuine uncertainty in the group's more volatile segments. Overall, the underlying business trajectory looks healthy.
Source: Original filing (TDnet) | IR | 日本語版
Disclaimer | This article is for informational purposes only and does not constitute investment advice. Financial figures are AI-extracted and editorially reviewed — always verify against the original filing.