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Adastria, First Half Ordinary Profit Decreases by 24%, Jun-Aug Ordinary Profit Decreases by 41%

Tue Sep 30, 2025 3:30 pm JST Earnings

2685 and ST HD Co., Ltd. 【J-GAAP】

Earnings Report

and ST HD Co., Ltd. <2685> [TSE Prime] announced its financial results after the market closed on September 30th (15:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending February 2026 (March to August) decreased 24.3% from the same period last year to 7.79 billion yen. Progress toward the full-year plan of 19.0 billion yen was 41.0%, also falling below the five-year average of 48.1%.

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 September to February period (second half) is expected to expand 97.8% from the same period last year, reaching 11.2 billion yen.

In the most recent three-month period, from June to August (2Q), the consolidated ordinary profit dropped to 2.36 billion yen, a 41.0% decrease compared to the same period last year. The operating profit margin worsened from 5.5% in the same period last year to 3.3%.

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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
Mar - Aug, 2023 132,896 10,311 10,639 7,094 156.2 57.9 Sep 29, 2023 J-GAAP
Mar - Aug, 2024 144,203 9,895 10,297 6,939 151.7 64.5 Sep 30, 2024 J-GAAP
Mar - Aug, 2025 149,345 7,973 7,790 5,987 129.7 41.0 Sep 30, 2025 J-GAAP
YoY +3.6% -19.4% -24.3% -13.7% -14.5%

First Half Results vs. Previous Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar - Aug, 2025 Guidance ー ー ー ー － 45 Apr 4, 2025 J-GAAP
Mar - Aug, 2025 Results 149,345 7,973 7,790 5,987 129.7 45 Sep 30, 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
Sep - Feb, 2024 148,907 5,615 5,667 2,675 58.1 55 Apr 4, 2025 J-GAAP
Sep - Feb, 2025 Guidance 155,655 11,027 11,210 6,413 139.0 45 Sep 30, 2025 J-GAAP
YoY +4.5% +96.4% +97.8% +139.7% +139.2%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Feb, 2024 275,596 18,015 18,389 13,513 297.8 85 Apr 4, 2024 J-GAAP
Feb, 2025 293,110 15,510 15,964 9,614 208.9 90 Apr 4, 2025 J-GAAP
Feb, 2026 Guidance 305,000 19,000 19,000 12,400 268.8 90 Apr 4, 2025 J-GAAP
YoY +4.1% +22.5% +19.0% +29.0% +28.7%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jun - Aug, 2024 70,202 3,881 4,009 2,534 55.4 5.5 Sep 30, 2024 J-GAAP
Sep - Nov, 2024 75,886 4,875 4,670 2,968 64.6 6.4 Dec 27, 2024 J-GAAP
Dec - Feb, 2024 73,021 740 997 -293 -6.4 1.0 Apr 4, 2025 J-GAAP
Mar - May, 2025 77,464 5,603 5,423 4,374 94.7 7.2 Jun 30, 2025 J-GAAP
Jun - Aug, 2025 71,881 2,370 2,367 1,613 35.0 3.3 Sep 30, 2025 J-GAAP
YoY +2.4% -38.9% -41.0% -36.3% -36.9%

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