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First Brothers, First Half Ordinary Profit Decreases by 8%

Tue Jul 8, 2025 5:00 pm JST Earnings

3454 First Brothers Co., Ltd. 【J-GAAP】

Earnings Report

First Brothers Co., Ltd. <3454> [TSE Std] announced its financial results after the market closed on July 8th (17:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending November 2025 (December 2024 to May 2025) decreased 8.2% from the same period last year to 0.34 billion yen. Progress toward the full-year plan of 2.18 billion yen was 15.9%, also falling below the five-year average of 55.6%.

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated ordinary profit for the June to November period (second half) is expected to nearly flat at 1.83 billion yen, up 1.0% from the same period last year.

In the most recent three-month period, from March to May (2Q), the consolidated ordinary profit grew 5.2% from the same period last year, reaching 0.26 billion yen. The operating profit margin rose from 15.0% in the same period last year to 16.3%.

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Actual Results

Accumulated Results 2nd Quarter
Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Progress Rate vs. First Half Announce Accounting Standards
Dec - May, 2022 11,987 3,066 2,726 2,214 157.9 71.0 Jul 7, 2023 J-GAAP
Dec - May, 2023 4,368 603 377 179 12.8 17.2 Jul 9, 2024 J-GAAP
Dec - May, 2024 5,377 802 346 223 16.0 15.9 Jul 8, 2025 J-GAAP
YoY +23.1% +33.0% -8.2% +24.6% +24.9%

First Half Results vs. Previous Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Dec - May, 2024 Guidance ー ー ー ー － 0 Jan 10, 2025 J-GAAP
Dec - May, 2024 Results 5,377 802 346 223 16.0 0 Jul 8, 2025 J-GAAP
Revision Rate － － － － －

Current Period Guidance

Second Half Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Jun - Nov, 2024 12,497 2,235 1,816 1,237 88.3 34 Jan 10, 2025 J-GAAP
Jun - Nov, 2025 Guidance 12,573 2,718 1,834 1,147 81.8 35 Jul 8, 2025 J-GAAP
YoY +0.6% +21.6% +1.0% -7.3% -7.3%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Nov, 2023 22,268 4,461 3,837 3,186 227.3 32 Jan 12, 2024 J-GAAP
Nov, 2024 16,865 2,838 2,193 1,416 101.0 67 Jan 10, 2025 J-GAAP
Nov, 2025 Guidance 17,950 3,520 2,180 1,370 97.7 35 Jan 10, 2025 J-GAAP
YoY +6.4% +24.0% -0.6% -3.2% -3.3%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Mar - May, 2024 2,413 363 248 116 8.3 15.0 Jul 9, 2024 J-GAAP
Jun - Aug, 2024 3,541 546 358 323 23.0 15.4 Oct 8, 2024 J-GAAP
Sep - Nov, 2024 8,956 1,689 1,458 914 65.2 18.9 Jan 10, 2025 J-GAAP
Dec - Feb, 2024 2,344 309 85 68 4.9 13.2 Apr 8, 2025 J-GAAP
Mar - May, 2025 3,033 493 261 155 11.1 16.3 Jul 8, 2025 J-GAAP
YoY +25.7% +35.8% +5.2% +33.6% +33.9%

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