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PIGEON, First Half Ordinary Profit Increases by 7%, Apr-Jun Ordinary Profit Increases by 6%

Thu Aug 7, 2025 2:00 pm JST Earnings

7956 PIGEON CORPORATION 【J-GAAP】

Earnings Report

PIGEON CORPORATION <7956> [TSE Prime] announced its financial results in the afternoon session on August 7th (14:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending December 2025 (January to June) increased 6.9% from the same period last year, reaching 6.87 billion yen. Progress toward the full-year plan of 12.9 billion yen was 53.3%, almost the same as the five-year average of 53.8%.

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 July to December period (second half) is expected to decrease 12.1% from the same period last year to 6.02 billion yen.

In the most recent three-month period, from April to June (2Q), the consolidated ordinary profit grew 5.6% from the same period last year, reaching 3.66 billion yen. The operating profit margin rose from 11.3% in the same period last year to 12.2%.

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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
Jan - Jun, 2023 48,002 6,511 7,117 4,566 38.2 61.8 Aug 9, 2023 J-GAAP
Jan - Jun, 2024 51,313 5,822 6,431 3,574 29.9 48.4 Aug 14, 2024 J-GAAP
Jan - Jun, 2025 53,734 6,684 6,875 4,624 38.7 53.3 Aug 7, 2025 J-GAAP
YoY +4.7% +14.8% +6.9% +29.4% +29.4%

First Half Results vs. Previous Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Jan - Jun, 2025 Guidance ー ー ー ー － 38 Feb 14, 2025 J-GAAP
Jan - Jun, 2025 Results 53,734 6,684 6,875 4,624 38.7 38 Aug 7, 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
Jul - Dec, 2024 52,858 6,317 6,851 4,797 40.1 38 Feb 14, 2025 J-GAAP
Jul - Dec, 2025 Guidance 55,966 6,216 6,025 3,776 31.6 38 Aug 7, 2025 J-GAAP
YoY +5.9% -1.6% -12.1% -21.3% -21.3%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Dec, 2023 94,461 10,726 11,522 7,423 62.1 76 Feb 15, 2024 J-GAAP
Dec, 2024 104,171 12,139 13,282 8,371 70.0 76 Feb 14, 2025 J-GAAP
Dec, 2025 Guidance 109,700 12,900 12,900 8,400 70.2 76 Feb 14, 2025 J-GAAP
YoY +5.3% +6.3% -2.9% +0.3% +0.3%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Apr - Jun, 2024 27,564 3,125 3,468 1,668 14.0 11.3 Aug 14, 2024 J-GAAP
Jul - Sep, 2024 24,724 2,659 2,402 1,852 15.5 10.8 Nov 7, 2024 J-GAAP
Oct - Dec, 2024 28,134 3,658 4,449 2,945 24.6 13.0 Feb 14, 2025 J-GAAP
Jan - Mar, 2025 25,227 3,193 3,214 2,331 19.5 12.7 May 13, 2025 J-GAAP
Apr - Jun, 2025 28,507 3,491 3,661 2,293 19.2 12.2 Aug 7, 2025 J-GAAP
YoY +3.4% +11.7% +5.6% +37.5% +37.5%

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