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CHANGE Holdings, 5% Increase in Net Income, Update Record High for Third Consecutive Term, Increased Previous Year's Dividend by 6.4 yen, This Fiscal Year to Increase Dividend by 2.1 yen

Thu May 15, 2025 3:30 pm JST Earnings

3962 CHANGE Holdings, Inc. 【IFRS】

Earnings Report

CHANGE Holdings, Inc. <3962> [TSE Prime] announced its financial results (based on IFRS) after the market closed on May 15th (15:30). The consolidated net income for the fiscal year ending March 2025 expanded 76.7% from the previous period to 7.53 billion yen. For the fiscal year ending March 2026, the consolidated net income is expected to grow by 4.9% to 7.9 billion yen, marking the third consecutive term of record-high profits. This will be the third consecutive term of revenue and profit growth.

At the same time, the company increased the annual dividend for the previous term from 14.5 yen to 20.9 yen (compared to 18.7 yen in the prior term), and has decided to increase the dividend this fiscal year to 23 yen, an increase of 2.1 yen from the previous fiscal year.

In the most recent three-month period, from January to March (4Q), the consolidated net loss improved to a deficit of 0.72 billion yen (compared to a loss of 2.68 billion yen in the same period last year). The operating profit/loss margin drastically improved from -34.3% in the same period last year to 3.4%.

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Actual Results

Historical Performance
Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 20,021 5,730 5,653 3,856 53.3 10 May 15, 2023 IFRS
Mar, 2024 37,015 7,383 7,250 4,262 58.9 18.70 May 15, 2024 IFRS
Mar, 2025 46,387 13,515 12,745 7,532 107.5 20.90 May 15, 2025 IFRS
YoY +25.3% +83.1% +75.8% +76.7% +82.5%

Full Year Results vs. Previous Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2025 Guidance 45,000 13,000 12,815 8,069 116.0 14.50 May 15, 2024 IFRS
Mar, 2025 Results 46,387 13,515 12,745 7,532 107.5 20.90 May 15, 2025 IFRS
Revision Rate +3.1% +4.0% -0.5% -6.7% -7.3%

Current Period Guidance

H1 Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Apr - Sep, 2024 16,512 3,813 3,453 2,076 29.4 0 Nov 13, 2024 IFRS
Apr - Sep, 2025 Guidance ー ー ー ー － 0 May 15, 2025 IFRS
YoY － － － － －

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2024 37,015 7,383 7,250 4,262 58.9 18.70 May 15, 2024 IFRS
Mar, 2025 46,387 13,515 12,745 7,532 107.5 20.90 May 15, 2025 IFRS
Mar, 2026 Guidance 55,000 14,000 13,223 7,904 113.6 23 May 15, 2025 IFRS
YoY +18.6% +3.6% +3.8% +4.9% +5.7%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jan - Mar, 2024 8,217 -2,816 -2,944 -2,689 -37.2 -34.3 May 15, 2024 IFRS
Apr - Jun, 2024 8,139 2,345 2,177 1,386 19.4 28.8 Aug 14, 2024 IFRS
Jul - Sep, 2024 8,373 1,468 1,276 690 9.8 17.5 Nov 13, 2024 IFRS
Oct - Dec, 2024 18,425 9,308 9,136 6,184 88.1 50.5 Feb 13, 2025 IFRS
Jan - Mar, 2025 11,450 394 156 -728 -10.4 3.4 May 15, 2025 IFRS
YoY +39.3% － － +72.9% +72.0%

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