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Sobal, First Half Ordinary Profit Decreases by 7%, Jun-Aug Ordinary Profit Decreases by 18%

Tue Oct 14, 2025 3:30 pm JST Earnings

2186 Sobal Corporation 【J-GAAP】

Earnings Report

Sobal Corporation <2186> [TSE Std] announced its financial results after the market closed on October 14th (15:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending February 2026 (March to August) decreased 6.8% from the same period last year to 313 million yen. Progress toward the full-year plan of 660 million yen was 47.4%, also falling below the five-year average of 53.1%.

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 grow 12.3% from the same period last year, reaching 347 million yen.

In the most recent three-month period, from June to August (2Q), the consolidated ordinary profit decreased to 146 million yen, an 18.0% decrease compared to the same period last year. The operating profit margin worsened from 8.3% in the same period last year to 6.6%.

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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 4,037 330 331 220 28.1 47.9 Sep 29, 2023 J-GAAP
Mar - Aug, 2024 4,235 334 336 228 29.0 52.1 Sep 30, 2024 J-GAAP
Mar - Aug, 2025 4,357 308 313 208 26.5 47.4 Oct 14, 2025 J-GAAP
YoY +2.9% -7.8% -6.8% -8.8% -8.8%

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 4,400 300 300 200 25.4 16.50 Apr 11, 2025 J-GAAP
Mar - Aug, 2025 Results 4,357 308 313 208 26.5 16.50 Oct 14, 2025 J-GAAP
Revision Rate -1.0% +2.7% +4.3% +4.0% +4.1%

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 4,447 278 309 204 25.9 16.50 Apr 11, 2025 J-GAAP
Sep - Feb, 2025 Guidance 4,543 342 347 232 29.5 16.50 Oct 14, 2025 J-GAAP
YoY +2.2% +23.0% +12.3% +13.7% +13.7%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Feb, 2024 8,169 670 691 513 65.3 33 Apr 10, 2024 J-GAAP
Feb, 2025 8,682 612 645 432 54.9 33 Apr 11, 2025 J-GAAP
Feb, 2026 Guidance 8,900 650 660 440 55.9 33 Apr 11, 2025 J-GAAP
YoY +2.5% +6.2% +2.3% +1.9% +1.8%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jun - Aug, 2024 2,119 176 178 122 15.5 8.3 Sep 30, 2024 J-GAAP
Sep - Nov, 2024 2,245 242 253 174 22.1 10.8 Jan 10, 2025 J-GAAP
Dec - Feb, 2024 2,202 36 56 30 3.8 1.6 Apr 11, 2025 J-GAAP
Mar - May, 2025 2,197 165 167 110 14.1 7.5 Jul 11, 2025 J-GAAP
Jun - Aug, 2025 2,160 143 146 98 12.5 6.6 Oct 14, 2025 J-GAAP
YoY +1.9% -18.8% -18.0% -19.7% -19.7%

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