Hokuetsu, Ordinary Profit Forecast for the Fiscal Year Revised Downward to an Unexpected 47% Decrease

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Tue Oct 28, 2025 3:30 pm JST Revision

3865 Hokuetsu Corporation 【J-GAAP】

Guidance Update Report

Hokuetsu Corporation <3865> [TSE Prime] announced a performance revision after the market closed on October 28th (15:30). The consolidated ordinary profit forecast for the fiscal year ending March 2026 has decreased 52.4%, from the previous forecast of 21.0 billion yen to 10.0 billion yen (compared to 18.7 billion yen in the previous period). This changes the outlook from an anticipated profit increase to a projection of a 46.7% decrease in profit.

At the same time, the April to September period (first half) consolidated ordinary profit has decreased 66.7%, from the previous forecast of 9.00 billion yen to 3.00 billion yen (compared to 9.04 billion yen in the same period of the previous year), leading to an increase in the profit decline rate from 0.4% to 66.8%.

Kabutan News

Guidance Update

First Half Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Apr - Sep, 2025 Prev	150,000	8,000	9,000	6,000	35.7	13	May 15, 2025	J-GAAP
Apr - Sep, 2025 New	139,000	2,000	3,000	2,300	13.7	13	Oct 28, 2025	J-GAAP
Revision Rate	-7.3%	-75.0%	-66.7%	-61.7%	-61.7%

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2026 Prev	303,000	18,000	21,000	15,000	89.2	26	May 15, 2025	J-GAAP
Mar, 2026 New	292,000	8,000	10,000	6,000	35.7	26	Oct 28, 2025	J-GAAP
Revision Rate	-3.6%	-55.6%	-52.4%	-60.0%	-60.0%

Current Period Guidance

H1 Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Apr - Sep, 2024	149,358	9,004	9,040	6,281	37.4	11	Nov 14, 2024	J-GAAP
Apr - Sep, 2025 Guidance	139,000	2,000	3,000	2,300	13.7	13	Oct 28, 2025	J-GAAP
YoY	-6.9%	-77.8%	-66.8%	-63.4%	-63.4%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2024	297,056	15,267	17,757	8,387	49.9	18	May 15, 2024	J-GAAP
Mar, 2025	305,718	19,727	18,759	15,529	92.3	22	May 15, 2025	J-GAAP
Mar, 2026 Guidance	292,000	8,000	10,000	6,000	35.7	26	Oct 28, 2025	J-GAAP
YoY	-4.5%	-59.4%	-46.7%	-61.4%	-61.4%