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Trend Micro, Ordinary Profit Forecast for the Fiscal Year Revised Downward to an Unexpected 15% Decrease

Thu Aug 7, 2025 3:30 pm JST Earnings

4704 Trend Micro Incorporated 【J-GAAP】

Earnings Report

Trend Micro Incorporated <4704> [TSE Prime] announced its financial results after the market closed on August 7th (15:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending December 2025 (January to June) decreased 18.6% from the same period last year to 21.4 billion yen.

In addition, the full-year forecast for consolidated ordinary profit has decreased 21.9%, from the previous forecast of 57.6 billion yen to 45.0 billion yen (compared to 52.8 billion yen in the previous period). This changes the outlook from an anticipated profit increase to a projection of a 14.8% 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 July to December period (second half) is expected to decrease 11.1% from the same period last year to 23.5 billion yen.

In the most recent three-month period, from April to June (2Q), the consolidated ordinary profit decreased to 9.06 billion yen, a 28.6% decrease compared to the same period last year. However, the operating profit margin rose from 17.9% in the same period last year to 20.3%.

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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
Jan - Jun, 2023 119,536 18,188 18,449 11,856 85.9 51.0 Aug 8, 2023 J-GAAP
Jan - Jun, 2024 134,534 24,436 26,371 17,895 133.2 49.9 Aug 8, 2024 J-GAAP
Jan - Jun, 2025 133,909 28,472 21,475 14,336 109.1 47.7 Aug 7, 2025 J-GAAP
YoY -0.5% +16.5% -18.6% -19.9% -18.0%

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 － 0 Feb 18, 2025 J-GAAP
Jan - Jun, 2025 Results 133,909 28,472 21,475 14,336 109.1 0 Aug 7, 2025 J-GAAP
Revision Rate － － － － －

Guidance Update

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Dec, 2025 Prev 288,600 60,300 57,600 38,900 295.0 － Feb 18, 2025 J-GAAP
Dec, 2025 New 274,000 53,600 45,000 30,200 229.0 － Aug 7, 2025 J-GAAP
Revision Rate -5.1% -11.1% -21.9% -22.4% -22.4%

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 138,104 23,669 26,469 16,463 124.1 184 Feb 18, 2025 J-GAAP
Jul - Dec, 2025 Guidance 140,091 25,128 23,525 15,864 120.3 － Aug 7, 2025 J-GAAP
YoY +1.4% +6.2% -11.1% -3.6% -3.1%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Dec, 2023 248,691 32,602 36,181 10,731 78.5 738 Feb 15, 2024 J-GAAP
Dec, 2024 272,638 48,105 52,840 34,358 259.1 184 Feb 18, 2025 J-GAAP
Dec, 2025 Guidance 274,000 53,600 45,000 30,200 229.0 － Aug 7, 2025 J-GAAP
YoY +0.5% +11.4% -14.8% -12.1% -11.6%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Apr - Jun, 2024 68,603 12,309 12,707 7,141 53.1 17.9 Aug 8, 2024 J-GAAP
Jul - Sep, 2024 68,124 14,801 11,960 8,523 64.0 21.7 Nov 12, 2024 J-GAAP
Oct - Dec, 2024 69,980 8,868 14,509 7,940 59.9 12.7 Feb 18, 2025 J-GAAP
Jan - Mar, 2025 67,501 15,006 12,408 8,858 67.5 22.2 May 8, 2025 J-GAAP
Apr - Jun, 2025 66,408 13,466 9,067 5,478 41.7 20.3 Aug 7, 2025 J-GAAP
YoY -3.2% +9.4% -28.6% -23.3% -21.5%

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