ABEJA's net profit more than doubled in the year to August 2026, but the operating line tells a more modest story. Revenue rose 27.7% to ¥4.58bn and operating profit rose 59.4% to ¥710.6mn. Net profit rose 137.8% to ¥1.07bn.
The tax effect
Pre-tax profit was ¥759.9mn, so the gap to net profit is tax. Total income taxes were a credit of about ¥306mn, which the company attributes to a review of the recoverability of deferred tax assets. ABEJA's results presentation says net income includes that boost, and notes that the prior year's total tax charge was only ¥3mn.
Public projects in the mix
The company says its work in public projects grew alongside corporate AI deployment. Its results note lists GENIAC, the NEDO-run generative AI programme, where ABEJA was selected for a fourth round and is working with IDOM on an AI agent for car servicing. The presentation puts public projects at 24% of revenue, up from 18% the year before and 2% the year before that. Gross margin slipped to 61.0% from 62.4%. Public projects are therefore a growing part of revenue, not the whole of it.
The coming-year guide
ABEJA guides revenue of ¥5.96bn, up 30.2%, built on expanding public projects. Operating profit is guided at ¥730mn, up 2.7%, and net profit at ¥680mn, down 36.2%. The company says the forecast absorbs a margin hit from a changing project mix and higher hiring and research costs. Operating margin would fall to 12.2% from 15.5%.