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PICKLES HOLDINGS, First Half Ordinary Profit Increases by 39%, Jun-Aug Ordinary Profit Increases by 52%

Tue Sep 30, 2025 3:50 pm JST Earnings

2935 PICKLES HOLDINGS CO.,LTD. 【J-GAAP】

Earnings Report

PICKLES HOLDINGS CO.,LTD. <2935> [TSE Prime] announced its financial results after the market closed on September 30th (15:50). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending February 2026 (March to August) expanded 1.62 billion yen, an increase 38.6% compared to the same period last year. Progress toward the full-year plan of 2.15 billion yen was 75.5%, almost the same as the five-year average of 75.8%.

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 September to February period (second half) is expected to surge 3.0 times that of the same period last year, reaching 0.52 billion yen.

In the most recent three-month period, from June to August (2Q), the consolidated ordinary profit increased 51.9% from the same period last year, reaching 0.98 billion yen. The operating profit margin improved from 5.6% in the same period last year to 8.4%.

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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
Mar - Aug, 2023 23,111 1,280 1,355 915 73.3 76.5 Sep 29, 2023 J-GAAP
Mar - Aug, 2024 21,694 1,117 1,171 798 64.2 87.1 Sep 30, 2024 J-GAAP
Mar - Aug, 2025 22,321 1,569 1,623 1,102 88.3 75.5 Sep 30, 2025 J-GAAP
YoY +2.9% +40.5% +38.6% +38.1% +37.6%

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 22,321 1,569 1,623 1,102 88.0 15 Sep 22, 2025 J-GAAP
Mar - Aug, 2025 Results 22,321 1,569 1,623 1,102 88.3 15 Sep 30, 2025 J-GAAP
Revision Rate 0.0% 0.0% 0.0% 0.0% +0.4%

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 19,824 162 174 160 12.9 14 Apr 14, 2025 J-GAAP
Sep - Feb, 2025 Guidance 19,379 511 527 338 27.0 14 Sep 22, 2025 J-GAAP
YoY -2.2% +215.4% +202.9% +111.3% +109.5%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Feb, 2024 43,028 1,668 1,771 1,175 94.3 24 Apr 12, 2024 J-GAAP
Feb, 2025 41,518 1,279 1,345 958 77.1 26 Apr 14, 2025 J-GAAP
Feb, 2026 Guidance 41,700 2,080 2,150 1,440 114.9 29 Sep 22, 2025 J-GAAP
YoY +0.4% +62.6% +59.9% +50.3% +49.1%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jun - Aug, 2024 10,882 613 651 436 35.1 5.6 Sep 30, 2024 J-GAAP
Sep - Nov, 2024 10,084 195 203 123 9.9 1.9 Dec 27, 2024 J-GAAP
Dec - Feb, 2024 9,740 -33 -29 37 3.0 -0.3 Apr 14, 2025 J-GAAP
Mar - May, 2025 11,038 619 634 424 34.1 5.6 Jun 30, 2025 J-GAAP
Jun - Aug, 2025 11,283 950 989 678 54.3 8.4 Sep 30, 2025 J-GAAP
YoY +3.7% +55.0% +51.9% +55.5% +54.9%

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