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GRCS, Net Income Forecast for the Fiscal Year Revised Downward to a Loss, 38% Deficit Against Net Assets

Wed Oct 15, 2025 4:00 pm JST Earnings

9250 GRCS Inc. 【J-GAAP】

Earnings Report

GRCS Inc. <9250> [TSE Growth] announced its financial results after the market closed on October 15th (16:00). The consolidated net loss for the cumulative third quarter of the fiscal year ending November 2025 (December 2024 to August 2025) expanded to a loss of 85 million yen (compared to a loss of 33 million yen in the same period last year).

In addition, the full-year forecast for consolidated net income/loss has been revised downward from an expected profit of 60 million yen to a loss of 158 million yen (compared to a profit of 112 million yen in the previous period), turning to a loss outlook The deficit amounted to a 38.1% impairment of net assets at the end of the previous fiscal year..

Based on the full-year plan announced by the company after the downward revision, our estimate of the consolidated net income/loss for the June to November period (second half) has been revised downward from an expected profit of 144 million yen to a loss of 74 million yen (compared to a profit of 110 million yen in the same period of the previous year), turning to a loss outlook.

In the most recent three-month period, from June to August (3Q), the consolidated net loss improved to a deficit of 1 million yen (compared to a loss of 35 million yen in the same period last year). The operating profit/loss margin drastically improved from -5.1% in the same period last year to 1.0%.

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Actual Results

Accumulated Results 3rd Quarter
Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Progress Rate vs. First Half Announce Accounting Standards
Dec - Aug, 2022 2,047 -161 -175 -211 -165.3 ー Oct 13, 2023 J-GAAP
Dec - Aug, 2023 2,427 -11 -27 -33 -25.8 ー Oct 15, 2024 J-GAAP
Dec - Aug, 2024 2,465 -86 -110 -85 -63.6 ー Oct 15, 2025 J-GAAP
YoY +1.6% -681.8% -307.4% -157.6% -146.1%

Guidance Update

Second Half Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Jun - Nov, 2025 Prev 2,352 210 198 144 106.6 0 Jul 15, 2025 J-GAAP
Jun - Nov, 2025 New 1,732 -1 -18 -74 -54.8 0 Oct 15, 2025 J-GAAP
Revision Rate -26.4% － － － －

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Nov, 2025 Prev 3,953 115 89 60 44.4 0 Jan 14, 2025 J-GAAP
Nov, 2025 New 3,333 -96 -127 -158 -117.0 0 Oct 15, 2025 J-GAAP
Revision Rate -15.7% － － － －

Current Period Guidance

Second Half Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Jun - Nov, 2024 1,672 14 8 110 83.5 0 Jan 14, 2025 J-GAAP
Jun - Nov, 2025 Guidance 1,732 -1 -18 -74 -54.8 0 Oct 15, 2025 J-GAAP
YoY +3.6% － － － －

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Nov, 2023 2,783 -145 -173 -280 -218.5 0 Jan 12, 2024 J-GAAP
Nov, 2024 3,288 44 25 112 85.1 0 Jan 14, 2025 J-GAAP
Nov, 2025 Guidance 3,333 -96 -127 -158 -117.0 0 Oct 15, 2025 J-GAAP
YoY +1.4% － － － －

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jun - Aug, 2024 811 -41 -44 -35 -27.4 -5.1 Oct 15, 2024 J-GAAP
Sep - Nov, 2024 861 55 52 145 110.1 6.4 Jan 14, 2025 J-GAAP
Dec - Feb, 2024 779 -68 -70 -44 -32.8 -8.7 Apr 14, 2025 J-GAAP
Mar - May, 2025 822 -27 -39 -40 -29.8 -3.3 Jul 15, 2025 J-GAAP
Jun - Aug, 2025 864 9 -1 -1 -0.8 1.0 Oct 15, 2025 J-GAAP
YoY +6.5% － +97.7% +97.1% +97.3%

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