Gakujo has cut its outlook for the year ending October 2026 after missing its own interim targets, blaming a later-than-expected booking of revenue in young-career recruiting and a deliberate decision to keep spending on systems and promotion. The company now expects revenue of ¥12.0 billion, down from ¥13.3 billion, and operating profit of ¥2.6 billion, down from ¥3.25 billion. Interim revenue came in at ¥4.618 billion against a ¥5.1 billion forecast, while operating profit was ¥345 million against ¥566 million. Management said the dividend forecast is unchanged.
| Line item | Prior figure | Actual or revised figure | Change |
|---|---|---|---|
| Interim sales | 5,100 | 4,618 | ▲481, ▲9.4% |
| Interim operating profit | 566 | 345 | ▲220, ▲38.9% |
| Interim ordinary profit | 668 | 458 | ▲209, ▲31.4% |
| Interim net profit | 480 | 313 | ▲166, ▲34.7% |
| Full-year sales | 13,300 | 12,000 | ▲1,300, ▲9.8% |
| Full-year operating profit | 3,250 | 2,600 | ▲650, ▲20.0% |
| Full-year ordinary profit | 3,450 | 2,800 | ▲650, ▲18.8% |
| Full-year net profit | 2,480 | 2,000 | ▲480, ▲19.4% |
The interesting part is not that hiring demand vanished. Gakujo said employer appetite for young talent remained high and new-graduate services were solid. The problem was timing. In young-career hiring for less-experienced workers, earlier recruiting schedules and changes in listing timing lengthened the gap between orders and revenue recognition, pushing more sales into the second half. That showed up most clearly in the core young-career web media business, where revenue fell to ¥1.078 billion, or 92.8% of the prior year. Other lines were healthier: agent revenue rose to ¥545 million, events to ¥1.537 billion, and the campus recruiting media business to ¥784 million.
Profits took a bigger hit than sales because costs were not put into hiding. Gakujo said it carried out promotion and system investment as planned, while higher outsourcing and procurement costs also pushed expenses up. In the first half, selling, general and administrative expenses rose to ¥2.549 billion from ¥2.214 billion, including promotion expense of ¥555 million from ¥465 million. That left operating profit down 25.8% year on year, even though sales still grew 5.8%.
For the rest of the year, management says demand remains firm but the current staffing and service-delivery setup puts a ceiling on how fast it can expand sales if it wants to protect service quality. The company said it will continue systems and promotion investment for medium- to long-term growth. Presentation materials added that any review of those budgets would have only a limited effect relative to the sales downgrade. In short, more of the revenue is expected later, while the investment case remains very much in the present tense.