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Fusion, First Half Ordinary Profit Turns to Loss

Tue Oct 14, 2025 3:30 pm JST Earnings

3977 Fusion Co.,Ltd. 【J-GAAP】

Earnings Report

Fusion Co.,Ltd. <3977> [SSE Ambs] announced its financial results after the market closed on October 14th (15:30). The ordinary profit/loss (non-consolidated) for the cumulative second quarter of the fiscal year ending February 2026 (March to August) turned into a loss of 43 million yen (compared to a profit of 4 million yen in the same period last year), further increasing the deficit beyond the forecast of a loss of 10 million yen

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the ordinary profit for the September to February period (second half) is expected to surge 7.2 times that of the same period last year, reaching 65 million yen.

In the most recent three-month period, from June to August (2Q), the ordinary loss expanded to a loss of 27 million yen (compared to a loss of 16 million yen in the same period last year). The operating profit/loss margin worsened from -5.3% in the same period last year to -8.3%.

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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 750 16 16 17 12.4 32.0 Oct 13, 2023 J-GAAP
Mar - Aug, 2024 730 7 4 3 2.7 30.8 Oct 11, 2024 J-GAAP
Mar - Aug, 2025 706 -42 -43 -44 -31.2 ー Oct 14, 2025 J-GAAP
YoY -3.3% － － － －

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 757 -9 -10 -11 -7.6 0 Apr 14, 2025 J-GAAP
Mar - Aug, 2025 Results 706 -42 -43 -44 -31.2 0 Oct 14, 2025 J-GAAP
Revision Rate -6.7% -366.7% -330.0% -300.0% -308.1%

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 774 9 9 -19 -13.8 0 Apr 14, 2025 J-GAAP
Sep - Feb, 2025 Guidance 894 66 65 62 43.0 0 Oct 14, 2025 J-GAAP
YoY +15.5% +633.3% +622.2% － －

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Feb, 2024 1,467 50 50 52 36.5 0 Apr 12, 2024 J-GAAP
Feb, 2025 1,504 16 13 -16 -11.6 0 Apr 14, 2025 J-GAAP
Feb, 2026 Guidance 1,600 24 22 18 12.5 0 Apr 14, 2025 J-GAAP
YoY +6.4% +50.0% +69.2% － －

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jun - Aug, 2024 303 -16 -16 -16 -14.5 -5.3 Oct 11, 2024 J-GAAP
Sep - Nov, 2024 383 5 5 5 3.8 1.3 Jan 14, 2025 J-GAAP
Dec - Feb, 2024 391 4 4 -24 -17.4 1.0 Apr 14, 2025 J-GAAP
Mar - May, 2025 379 -15 -16 -16 -11.4 -4.0 Jul 14, 2025 J-GAAP
Jun - Aug, 2025 327 -27 -27 -28 -19.8 -8.3 Oct 14, 2025 J-GAAP
YoY +7.9% -68.8% -68.8% -75.0% -36.7%

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