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West Holdings, Ordinary Profit Forecast for the Fiscal Year Revised Downward to an Unexpected 25% Decrease

Tue Jul 15, 2025 10:00 am JST Earnings

1407 West Holdings corporation 【J-GAAP】

Earnings Report

West Holdings corporation <1407> [TSE Std] announced its financial results in the morning on July 15th (10:00). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending August 2025 (September 2024 to May 2025) significantly dropped 55.5% from the same period last year to 1.58 billion yen.

In addition, the full-year forecast for consolidated ordinary profit has decreased 37.1%, from the previous forecast of 11.9 billion yen to 7.50 billion yen (compared to 9.95 billion yen in the previous period). This changes the outlook from an anticipated profit increase to a projection of a 24.7% decrease in profit.

Based on the full-year plan announced by the company after the downward revision, our estimate of the consolidated ordinary profit for the March to August period (second half) has decreased 40.9%, from the previous forecast of 10.8 billion yen to 6.38 billion yen (compared to 7.38 billion yen in the same period of the previous year). This changes the outlook from an anticipated profit increase to a projection of a 13.5% decrease in profit.

In the most recent three-month period, from March to May (3Q), the consolidated ordinary profit significantly dropped to 0.47 billion yen, a 52.4% decrease compared to the same period last year. The operating profit margin significantly dropped from 13.1% in the same period last year to 8.2%.

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Actual Results

Accumulated Results 3rd Quarter
Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Progress Rate vs. First Half Announce Accounting Standards
Sep - May, 2022 26,261 4,327 3,924 2,977 73.2 49.2 Jul 14, 2023 J-GAAP
Sep - May, 2023 29,708 4,197 3,562 2,595 64.0 35.8 Jul 12, 2024 J-GAAP
Sep - May, 2024 22,001 2,022 1,585 775 19.6 21.1 Jul 15, 2025 J-GAAP
YoY -25.9% -51.8% -55.5% -70.1% -69.4%

Guidance Update

Second Half Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar - Aug, 2025 Prev 41,550 11,783 10,809 7,464 188.2 65 Apr 14, 2025 J-GAAP
Mar - Aug, 2025 New 30,132 7,262 6,388 4,454 112.3 65 Jul 15, 2025 J-GAAP
Revision Rate -27.5% -38.4% -40.9% -40.3% -40.3%

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Aug, 2025 Prev 56,418 13,221 11,921 8,010 202.0 65 Oct 15, 2024 J-GAAP
Aug, 2025 New 45,000 8,700 7,500 5,000 126.1 65 Jul 15, 2025 J-GAAP
Revision Rate -20.2% -34.2% -37.1% -37.6% -37.6%

Current Period Guidance

Second Half Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar - Aug, 2024 30,475 7,684 7,388 4,893 121.3 65 Oct 15, 2024 J-GAAP
Mar - Aug, 2025 Guidance 30,132 7,262 6,388 4,454 112.3 65 Jul 15, 2025 J-GAAP
YoY -1.1% -5.5% -13.5% -9.0% -7.4%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Aug, 2023 43,734 8,499 7,972 6,016 148.0 55 Oct 13, 2023 J-GAAP
Aug, 2024 50,390 10,597 9,956 6,757 167.5 65 Oct 15, 2024 J-GAAP
Aug, 2025 Guidance 45,000 8,700 7,500 5,000 126.1 65 Jul 15, 2025 J-GAAP
YoY -10.7% -17.9% -24.7% -26.0% -24.7%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Mar - May, 2024 9,793 1,284 994 731 18.0 13.1 Jul 12, 2024 J-GAAP
Jun - Aug, 2024 20,682 6,400 6,394 4,162 103.2 30.9 Oct 15, 2024 J-GAAP
Sep - Nov, 2024 5,265 221 105 -122 -3.1 4.2 Jan 14, 2025 J-GAAP
Dec - Feb, 2024 9,603 1,217 1,007 668 16.9 12.7 Apr 14, 2025 J-GAAP
Mar - May, 2025 7,133 584 473 229 5.8 8.2 Jul 15, 2025 J-GAAP
YoY -27.2% -54.5% -52.4% -68.7% -67.9%

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