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Subaru Enterprise, First Half Ordinary Profit Increases by 11%, May-Jul Ordinary Profit Increases by 4%

Mon Sep 8, 2025 4:00 pm JST Earnings

9632 Subaru Enterprise Co., Ltd. 【J-GAAP】

Earnings Report

Subaru Enterprise Co., Ltd. <9632> [TSE Std] announced its financial results after the market closed on September 8th (16:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending January 2026 (February to July) increased 10.6% from the same period last year, reaching 2.83 billion yen. Progress toward the full-year plan of 4.52 billion yen was 62.7%, also surpassing the five-year average of 56.9%.

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 August to January period (second half) is expected to decrease 26.8% from the same period last year to 1.68 billion yen.

In the most recent three-month period, from May to July (2Q), the consolidated ordinary profit grew 3.8% from the same period last year, reaching 1.02 billion yen. The operating profit margin rose from 14.1% in the same period last year to 14.4%.

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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
Feb - Jul, 2023 14,690 2,641 2,670 1,798 139.7 54.0 Sep 7, 2023 J-GAAP
Feb - Jul, 2024 14,948 2,523 2,566 1,732 134.4 52.7 Sep 9, 2024 J-GAAP
Feb - Jul, 2025 14,651 2,779 2,839 1,911 148.3 62.7 Sep 8, 2025 J-GAAP
YoY -2.0% +10.1% +10.6% +10.3% +10.3%

First Half Results vs. Previous Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Feb - Jul, 2025 Guidance ー ー ー ー － 40 Mar 14, 2025 J-GAAP
Feb - Jul, 2025 Results 14,651 2,779 2,839 1,911 148.3 40 Sep 8, 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
Aug - Jan, 2024 15,326 2,285 2,306 1,506 116.9 40 Mar 14, 2025 J-GAAP
Aug - Jan, 2025 Guidance 14,678 1,726 1,689 1,118 86.6 40 Sep 8, 2025 J-GAAP
YoY -4.2% -24.5% -26.8% -25.8% -25.9%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Jan, 2024 29,245 4,900 4,947 3,283 255.0 80 Mar 14, 2024 J-GAAP
Jan, 2025 30,274 4,808 4,872 3,238 251.2 80 Mar 14, 2025 J-GAAP
Jan, 2026 Guidance 29,329 4,505 4,528 3,029 234.7 80 Mar 14, 2025 J-GAAP
YoY -3.1% -6.3% -7.1% -6.5% -6.6%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
May - Jul, 2024 6,886 972 986 656 50.9 14.1 Sep 9, 2024 J-GAAP
Aug - Oct, 2024 6,886 1,015 1,025 661 51.3 14.7 Dec 9, 2024 J-GAAP
Nov - Jan, 2024 8,440 1,270 1,281 845 65.6 15.0 Mar 14, 2025 J-GAAP
Feb - Apr, 2025 7,828 1,799 1,816 1,226 95.1 23.0 Jun 10, 2025 J-GAAP
May - Jul, 2025 6,823 980 1,023 685 53.1 14.4 Sep 8, 2025 J-GAAP
YoY -0.9% +0.8% +3.8% +4.4% +4.4%

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