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TSI HOLDINGS, First Half Ordinary Profit Turns to Profit

Tue Oct 14, 2025 3:30 pm JST Earnings

3608 TSI HOLDINGS CO., LTD. 【J-GAAP】

Earnings Report

TSI HOLDINGS CO., LTD. <3608> [TSE Prime] announced its financial results after the market closed on October 14th (15:30). The consolidated ordinary profit/loss for the cumulative second quarter of the fiscal year ending February 2026 (March to August) turned into a profit of 1.33 billion yen (compared to a loss of 0.16 billion yen in the same period last year). However, Progress toward the full-year plan of 6.00 billion yen was 22.2%, also falling below the five-year average of 42.0%.

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 2.1 times that of the same period last year, reaching 4.66 billion yen.

In the most recent three-month period, from June to August (2Q), the consolidated ordinary loss improved to a deficit of 0.58 billion yen (compared to a loss of 1.27 billion yen in the same period last year). The operating profit/loss margin improved from -3.4% in the same period last year to -2.9%.

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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 73,278 532 1,608 1,472 17.7 42.8 Oct 13, 2023 J-GAAP
Mar - Aug, 2024 75,230 -221 -167 -791 -10.7 ー Oct 11, 2024 J-GAAP
Mar - Aug, 2025 66,167 640 1,333 1,313 19.6 22.2 Oct 14, 2025 J-GAAP
YoY -12.0% － － － －

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 66,167 640 1,333 1,313 22.5 0 Oct 8, 2025 J-GAAP
Mar - Aug, 2025 Results 66,167 640 1,333 1,313 19.6 － Oct 14, 2025 J-GAAP
Revision Rate 0.0% 0.0% 0.0% 0.0% -12.9%

Guidance Update

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Feb, 2026 Prev 153,000 5,700 6,000 4,200 72.1 40 Apr 11, 2025 J-GAAP
Feb, 2026 New 169,000 5,700 6,000 4,200 72.1 40 Oct 14, 2025 J-GAAP
Revision Rate +10.5% 0.0% 0.0% 0.0% 0.0%

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 81,376 1,857 2,243 16,021 220.9 65 Apr 11, 2025 J-GAAP
Sep - Feb, 2025 Guidance 102,833 5,060 4,667 2,887 49.6 40 Oct 14, 2025 J-GAAP
YoY +26.4% +172.5% +108.1% -82.0% -77.6%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Feb, 2024 155,383 1,760 3,758 4,849 60.0 15 Apr 12, 2024 J-GAAP
Feb, 2025 156,606 1,636 2,076 15,230 210.0 65 Apr 11, 2025 J-GAAP
Feb, 2026 Guidance 169,000 5,700 6,000 4,200 72.1 40 Oct 14, 2025 J-GAAP
YoY +7.9% +248.4% +189.0% -72.4% -65.7%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jun - Aug, 2024 35,935 -1,239 -1,275 -1,337 -18.1 -3.4 Oct 11, 2024 J-GAAP
Sep - Nov, 2024 40,821 2,399 2,642 950 13.0 5.9 Jan 14, 2025 J-GAAP
Dec - Feb, 2024 40,555 -542 -399 15,071 207.8 -1.3 Apr 11, 2025 J-GAAP
Mar - May, 2025 35,605 1,514 1,916 1,966 28.5 4.3 Jul 14, 2025 J-GAAP
Jun - Aug, 2025 30,562 -874 -583 -653 -9.7 -2.9 Oct 14, 2025 J-GAAP
YoY -15.0% +29.5% +54.3% +51.2% +46.1%

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