WARABEYA NICHIYO, Ordinary Profit Forecast for the Fiscal Year Revised Upward by 22%, Highest in Two Terms, Dividend Revised Upward by 30 Yen

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Tue Oct 7, 2025 3:30 pm JST Earnings

2918 WARABEYA NICHIYO HOLDINGS CO.,LTD. 【J-GAAP】

Earnings Report

WARABEYA NICHIYO HOLDINGS CO.,LTD. <2918> [TSE Prime] announced its financial results after the market closed on October 7th (15:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending February 2026 (March to August) increased 13.5% from the same period last year, reaching 5.23 billion yen, resulting in an increase in profits compared to the previous forecast of a 19.8% decrease.

In addition, the full-year forecast for consolidated ordinary profit has been revised upward 22.0%, from the previous forecast of 5.90 billion yen to 7.20 billion yen (compared to 4.89 billion yen in the previous period), increasing the growth rate from 20.5% to 47.0%, reaches new record high for the first time in two terms.

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 September to February period (second half) is expected to surge 6.9 times that of the same period last year, reaching 1.96 billion yen.

In light of the strong performance, the company has significantly increased its planned annual dividend for the current fiscal year from the original plan of 90 yen to 120 yen (compared to 90 yen in the previous period).

In the most recent three-month period, from June to August (2Q), the consolidated ordinary profit increased 43.1% from the same period last year, reaching 3.19 billion yen. The operating profit margin improved from 3.5% in the same period last year to 4.9%.

Kabutan News

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	103,011	4,491	4,862	2,758	158.0	71.2	Oct 6, 2023	J-GAAP
Mar - Aug, 2024	113,636	4,256	4,613	2,807	160.8	94.2	Oct 8, 2024	J-GAAP
Mar - Aug, 2025	119,634	5,289	5,237	4,000	229.5	72.7	Oct 7, 2025	J-GAAP
YoY	+5.3%	+24.3%	+13.5%	+42.5%	+42.8%

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	117,000	3,800	3,700	2,700	154.6	45	Apr 10, 2025	J-GAAP
Mar - Aug, 2025 Results	119,634	5,289	5,237	4,000	229.5	60	Oct 7, 2025	J-GAAP
Revision Rate	+2.3%	+39.2%	+41.5%	+48.1%	+48.5%

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Feb, 2026 Prev	231,500	6,000	5,900	3,900	225.2	90	Apr 10, 2025	J-GAAP
Feb, 2026 New	234,500	7,300	7,200	5,450	314.7	120	Oct 7, 2025	J-GAAP
Revision Rate	+1.3%	+21.7%	+22.0%	+39.7%	+39.7%

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	108,831	259	285	-128	-7.3	45	Apr 10, 2025	J-GAAP
Sep - Feb, 2025 Guidance	114,866	2,011	1,963	1,450	83.7	60	Oct 7, 2025	J-GAAP
YoY	+5.5%	+676.4%	+588.8%	－	－

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Feb, 2024	207,009	6,380	6,824	4,273	244.7	90	Apr 11, 2024	J-GAAP
Feb, 2025	222,467	4,515	4,898	2,679	153.4	90	Apr 10, 2025	J-GAAP
Feb, 2026 Guidance	234,500	7,300	7,200	5,450	314.7	120	Oct 7, 2025	J-GAAP
YoY	+5.4%	+61.7%	+47.0%	+103.4%	+105.2%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jun - Aug, 2024	58,916	2,037	2,235	1,313	75.2	3.5	Oct 8, 2024	J-GAAP
Sep - Nov, 2024	55,647	1,095	1,125	832	47.6	2.0	Jan 9, 2025	J-GAAP
Dec - Feb, 2024	53,184	-836	-840	-960	-55.0	-1.6	Apr 10, 2025	J-GAAP
Mar - May, 2025	57,501	2,247	2,038	1,520	87.1	3.9	Jul 8, 2025	J-GAAP
Jun - Aug, 2025	62,133	3,042	3,199	2,480	142.3	4.9	Oct 7, 2025	J-GAAP
YoY	+5.5%	+49.3%	+43.1%	+88.9%	+89.2%