SHIFT Inc. posted a 74% increase in net income for the year ended August, driven by higher engineer utilization rates and contributions from recent acquisitions.
The Tokyo-based software testing specialist reported net profit of ¥8.94 billion ($59 million) compared with two years earlier, surpassing its July forecast. Revenue rose 17% to ¥129.8 billion ($854 million).
The company attributed the performance to maintaining high capacity utilization across operations. Its core software testing segment, accounting for 65% of sales, generated operating profit of ¥21.5 billion, up 33%, as engineers remained busy with customer projects. Newly acquired subsidiaries added to results in both testing and development divisions.
The software development business saw operating profit jump 43% to ¥2.61 billion on revenue growth of 15%, reflecting improved productivity. A smaller adjacent services unit posted a more than fourfold increase in operating profit.
SHIFT forecast revenue of ¥150 billion for the current fiscal year ending August 2026, a 16% increase. The company projected operating profit of ¥20 billion. However, the announcement contained what appear to be numerical inconsistencies in other forecast figures.
The firm has grown through acquisitions and recently announced plans to establish a Bahrain subsidiary targeting Middle Eastern markets. SHIFT trades on the Tokyo Stock Exchange under ticker 3697.
