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SBS Holdings, First Half Ordinary Profit Decreases by 44%

Fri Aug 8, 2025 1:00 pm JST Earnings

2384 SBS Holdings, Inc. 【J-GAAP】

Earnings Report

SBS Holdings, Inc. <2384> [TSE Prime] announced its financial results in the afternoon session on August 8th (13:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending December 2025 (January to June) dropped 44.1% from the same period last year to 6.36 billion yen. Progress toward the full-year plan of 20.1 billion yen was 31.7%, also falling below the five-year average of 59.7%.

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 expand 94.1% from the same period last year, reaching 13.7 billion yen.

In the most recent three-month period, from April to June (2Q), the consolidated ordinary profit amounted to 3.26 billion yen, an increase of 1.8% compared to the same period last year. The operating profit margin remained almost flat, changing from 2.6% in the same period last year to 2.8%.

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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 222,666 14,242 14,349 8,186 206.1 72.7 Aug 9, 2023 J-GAAP
Jan - Jun, 2024 221,739 10,958 11,385 6,456 162.6 61.7 Aug 8, 2024 J-GAAP
Jan - Jun, 2025 228,539 6,389 6,364 2,760 69.5 31.7 Aug 8, 2025 J-GAAP
YoY +3.1% -41.7% -44.1% -57.2% -57.2%

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 228,000 5,800 5,700 3,200 80.6 0 Feb 14, 2025 J-GAAP
Jan - Jun, 2025 Results 228,539 6,389 6,364 2,760 69.5 0 Aug 8, 2025 J-GAAP
Revision Rate +0.2% +10.2% +11.6% -13.8% -13.7%

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 226,406 6,746 7,078 3,163 79.6 70 Feb 14, 2025 J-GAAP
Jul - Dec, 2025 Guidance 256,461 14,111 13,736 8,440 212.5 85 Aug 8, 2025 J-GAAP
YoY +13.3% +109.2% +94.1% +166.8% +166.8%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Dec, 2023 431,911 19,719 19,747 10,056 253.2 65 Feb 14, 2024 J-GAAP
Dec, 2024 448,145 17,704 18,463 9,619 242.2 70 Feb 14, 2025 J-GAAP
Dec, 2025 Guidance 485,000 20,500 20,100 11,200 282.0 85 Feb 14, 2025 J-GAAP
YoY +8.2% +15.8% +8.9% +16.4% +16.4%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Apr - Jun, 2024 107,925 2,848 3,201 1,571 39.6 2.6 Aug 8, 2024 J-GAAP
Jul - Sep, 2024 108,543 2,270 2,206 1,097 27.6 2.1 Nov 12, 2024 J-GAAP
Oct - Dec, 2024 117,863 4,476 4,872 2,066 52.0 3.8 Feb 14, 2025 J-GAAP
Jan - Mar, 2025 112,821 3,202 3,104 1,132 28.5 2.8 May 14, 2025 J-GAAP
Apr - Jun, 2025 115,718 3,187 3,260 1,628 41.0 2.8 Aug 8, 2025 J-GAAP
YoY +7.2% +11.9% +1.8% +3.6% +3.6%

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