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Maruhachi Warehouse, Ordinary Profit Forecast for the Fiscal Year Revised Downward to an Unexpected 18% Decrease

Fri Jul 11, 2025 2:00 pm JST Earnings

9313 Maruhachi Warehouse Company , Limited 【J-GAAP】

Earnings Report

Maruhachi Warehouse Company , Limited <9313> [TSE Std] announced its financial results in the afternoon session on July 11th (14:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending November 2025 (December 2024 to May 2025) decreased 23.1% from the same period last year to 240 million yen, resulting in a decrease in profits compared to the previous forecast of a 5.8% increase.

In addition, the full-year forecast for consolidated ordinary profit has decreased 21.2%, from the previous forecast of 660 million yen to 520 million yen (compared to 634 million yen in the previous period). This changes the outlook from an anticipated profit increase to a projection of an 18.0% decrease in profit.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the consolidated ordinary profit for the June to November period (second half) is expected to decrease 13.0% from the same period last year to 280 million yen.

In the most recent three-month period, from March to May (2Q), the consolidated ordinary profit dropped to 89 million yen, a 42.2% decrease compared to the same period last year. The operating profit margin decreased from 12.8% in the same period last year to 10.7%.

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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 2,494 281 273 190 32.2 46.7 Jul 7, 2023 J-GAAP
Dec - May, 2023 2,480 314 312 205 34.7 49.2 Jul 5, 2024 J-GAAP
Dec - May, 2024 2,454 277 240 160 27.0 46.2 Jul 11, 2025 J-GAAP
YoY -1.0% -11.8% -23.1% -22.0% -22.2%

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 2,500 330 330 210 35.5 0 Jan 10, 2025 J-GAAP
Dec - May, 2024 Results 2,454 277 240 160 27.0 0 Jul 11, 2025 J-GAAP
Revision Rate -1.8% -16.1% -27.3% -23.8% -23.8%

Guidance Update

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Nov, 2025 Prev 5,100 660 660 420 70.9 24 Jan 10, 2025 J-GAAP
Nov, 2025 New 5,000 550 520 350 59.1 24 Jul 11, 2025 J-GAAP
Revision Rate -2.0% -16.7% -21.2% -16.7% -16.7%

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 2,511 305 322 696 117.6 20 Jan 10, 2025 J-GAAP
Jun - Nov, 2025 Guidance 2,546 273 280 190 32.1 24 Jul 11, 2025 J-GAAP
YoY +1.4% -10.5% -13.0% -72.7% -72.7%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Nov, 2023 4,972 574 585 412 69.6 16 Jan 12, 2024 J-GAAP
Nov, 2024 4,991 619 634 901 152.3 20 Jan 10, 2025 J-GAAP
Nov, 2025 Guidance 5,000 550 520 350 59.1 24 Jul 11, 2025 J-GAAP
YoY +0.2% -11.1% -18.0% -61.2% -61.2%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Mar - May, 2024 1,255 161 154 102 17.3 12.8 Jul 5, 2024 J-GAAP
Jun - Aug, 2024 1,241 150 169 113 19.1 12.1 Oct 11, 2024 J-GAAP
Sep - Nov, 2024 1,270 155 153 583 98.5 12.2 Jan 10, 2025 J-GAAP
Dec - Feb, 2024 1,211 144 151 101 17.2 11.9 Apr 11, 2025 J-GAAP
Mar - May, 2025 1,243 133 89 59 10.0 10.7 Jul 11, 2025 J-GAAP
YoY -1.0% -17.4% -42.2% -42.2% -42.3%

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