GMO Internet Group (9449): FY2025 Results Summary — Record Sales and Operating Profit on Infrastructure and Security Strength

This article is based on publicly available IR materials and is not a recommendation to buy or sell any specific securities.

GMO Internet Group closed the fiscal year ended December 2025 (FY25) with record-high net sales, operating profit and ordinary profit. Net sales rose 3.0% year on year to JPY 285.6 billion and operating profit rose 22.5% to JPY 57.1 billion, with the Internet Infrastructure and Internet Security segments described in the materials as the strong performers. The company presents FY25 as its 30th anniversary year, in which it delivered record-high results driven by solid recurring revenue, while positioning AI and robotics as a new growth opportunity for FY2026.

Consolidated Results (Full-Year Actual)

The presentation dated February 12, 2026 shows net sales, operating profit and ordinary profit all marked as record highs. Net profit was JPY 16.0 billion, up 20.4% year on year.

(JPY billions)	FY24	FY25	YoY Change	Change
Net Sales	277.4	285.6	+8.2	+3.0%
Operating Profit	46.6	57.1	＋10.5	+22.5%
Ordinary Profit	46.5	52.8	＋6.2	＋13.5%
Net Profit	13.3	16.0	-2.6	＋20.4%

Figures are transcribed exactly as shown on P.7 of the presentation; the year-on-year change for net profit is printed there as -2.6 alongside a change of +20.4%. Net sales, operating profit and ordinary profit each carry a “Record high” mark on that slide.

The six-year trend slide shows net sales rising from JPY 210.5 billion in FY20 to JPY 285.6 billion in FY25, and operating profit rising from JPY 27.89 billion in FY20 to JPY 57.17 billion in FY25.

Segment Results

Internet Infrastructure recorded its 10th consecutive year of record profits, exceeding JPY 40 billion, with solid recurring revenue described as the key growth driver and GMO GPU Cloud reaching quarterly profitability. Internet Security continued to grow on cybersecurity, with momentum from the “Internet Security for Everyone” project, while its operating profit declined. Online Ad & Media was affected by structural changes in the advertising industry on flow-based revenue, with stock-type products maintaining steady performance. Internet Finance saw the FX business remain soft on market conditions while the customer base continued to expand steadily, and Cryptoassets saw crypto exchange profit decline on market volatility.

Segment	Net sales (FY25)	YoY	Operating profit (FY25)	YoY
Internet Infrastructure	JPY 175.4B	Up 6.8%	JPY 40.5B	Up 18.0%
Internet Security	JPY 21.4B	Up 10.4%	JPY 0.7B	Down 11.8%
Online Ad & Media	JPY 35.5B	Down 1.5%	JPY 2.3B	Down 33.1%
Internet Finance	JPY 39.4B	Down 9.8%	JPY 12.1B	Up 181%
Cryptoassets	JPY 7.7B	Down 14.6%	JPY 1.8B	Down 45.0%

Within Internet Infrastructure, the FY25 net sales breakdown was Payment JPY 83.6 billion, Provider JPY 38.9 billion, Hosting & Cloud JPY 23.3 billion, Ecommerce Solutions JPY 15.6 billion, Domain JPY 11.2 billion and Other JPY 2.6 billion. In Internet Finance, GMO Aozora Net Bank reported revenue up 34% year on year and profit up 61% year on year, with the number of business accounts at 229 thousand companies (up 34.5% YoY) and cash and deposits of JPY 1,237 billion at the end of FY25.

FY2026 Outlook

The presentation does not contain a consolidated earnings forecast for FY2026; this cannot be confirmed from the materials. Instead, the company sets out its approach to enhancing corporate value, targeting annual operating profit growth of 15%+, alongside a total payout ratio of 50% or higher, quarterly dividends and a DOE policy that is under review.

For FY2026 initiatives, the company describes 2026 as the “Year One of Humanoids,” positioning AI and robotics as a new growth opportunity and launching initiatives to establish a top-of-mind brand in the field, while stating it will elevate its AI execution capabilities to a world-leading level and evolve into a hyperautomation enterprise group.

Shareholder Returns

The dividend policy is quarterly payments based on a dividend payout ratio of 33% or higher, combined with share buybacks equivalent to 17%, for a total shareholder returns ratio of 50%. The dividend per share for FY25 totalled JPY 52.0, against JPY 41.8 for FY24.

Dividend per share (JPY)	FY24	FY25
Q1	17.2	17.6
Q2	6.9	16.8
Q3	7.7	9.5
Q4	10.0	8.1
Total	41.8	52.0

The outlook for the FY25 total payout ratio is 112%, following 107.8% in FY24. The company also states that proceeds from the sale of GMO Internet, Inc. shares (TSE: 4784) will be allocated to share repurchases.

Shareholder returns	FY24	FY25
Total Dividend Amount (JPY billions)	4.41	5.29
Total cost of share acquisition (JPY billions)	9.99	9.99 (COMPLETED) and 2.74 (Resolved today)
Total Shareholder Returns Ratio	107.8%	112.0% (Outlook for Total Payout Ratio)

The newly resolved acquisition of treasury stock is for up to JPY 2.74 billion and up to 1.1 million shares (to be retired), equivalent to 1.10% of shares issued as of December 2025, with an acquisition period from February 13, 2026 through to February 10, 2027. Against the long-term buyback target of 38.35 million shares set out in the policy revision disclosed on July 30, 2015, the company has repurchased 19.95 million shares (progress 52.0%) and retired 10.45 million shares (progress 27.3%).

Key Topics

On security, the “Internet Security for Everyone” project progressed through multiple phases during FY25 and into FY2026, including providing comprehensive internet security services free of charge from February 2025, providing Security AI free of charge from July 2025, the appointment from November 2025 of Mr. Jiro Hiroe, former Lieutenant General and former head of the JGSDF Training Evaluation, Education, Research and Development Command, as General Manager of Group Cyber Defense Division “6”, the establishment of a joint venture with MUFG Bank, Ltd. and GMO Cybersecurity by Ierae (January 2026), and Prime Strategy Co., Ltd. joining the Group from December 2025.

On AI and robotics, GMO Internet, Inc. signed a Memorandum of Understanding with Turing, made a JPY 3.2 billion equity investment and entered a strategic partnership agreement to provide compute resources over the next four years. The company also plans to open GMO Robot Lab Shibuya, described as one of Japan’s largest robot labs, inside its Headquarters Building No. 1 from April 2026, and announced on November 12, 2025 the “One Man Army Project” with a deadline of November 30, 2027, under which 100% of partners will use one or more AI agents plus RPA.

This article is an analysis based on publicly available information and is not a recommendation to buy or sell any specific securities. Investment decisions are your own responsibility.