CAWACHI LIMITED, Ordinary Profit Forecast for the Fiscal Year Revised Downward to an Unexpected 16% Decrease, Dividend Revised Upward by 20 Yen

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Wed Oct 29, 2025 3:30 pm JST Earnings

2664 CAWACHI LIMITED 【J-GAAP】

Earnings Report

CAWACHI LIMITED <2664> [TSE Prime] announced its financial results after the market closed on October 29th (15:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2026 (April to September) decreased 16.2% from the same period last year to 3.80 billion yen, resulting in a decrease in profits compared to the previous forecast of a 7.9% increase.

In addition, the full-year forecast for consolidated ordinary profit has decreased 19.5%, from the previous forecast of 8.70 billion yen to 7.00 billion yen (compared to 8.34 billion yen in the previous period). This changes the outlook from an anticipated profit increase to a projection of a 16.1% decrease in profit.

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 October to March period (second half) is expected to decrease 15.9% from the same period last year to 3.19 billion yen.

At the same time, the company has increased its planned year-end lump-sum dividend for the current fiscal year from the original plan of 80 yen to 100 yen (compared to 80 yen in the previous period).

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit decreased to 2.19 billion yen, a 19.4% decrease compared to the same period last year. The operating profit margin worsened from 3.3% in the same period last year to 2.6%.

Kabutan News

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
Apr - Sep, 2023	145,934	4,392	4,917	3,047	136.5	57.1	Oct 26, 2023	J-GAAP
Apr - Sep, 2024	147,376	4,107	4,543	2,715	121.6	54.5	Oct 25, 2024	J-GAAP
Apr - Sep, 2025	145,357	3,209	3,806	2,457	110.1	54.4	Oct 29, 2025	J-GAAP
YoY	-1.4%	-21.9%	-16.2%	-9.5%	-9.5%

First Half Results vs. Previous Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Apr - Sep, 2025 Guidance	149,100	4,500	4,900	3,200	143.3	0	Apr 24, 2025	J-GAAP
Apr - Sep, 2025 Results	145,357	3,209	3,806	2,457	110.1	0	Oct 29, 2025	J-GAAP
Revision Rate	-2.5%	-28.7%	-22.3%	-23.2%	-23.2%

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2026 Prev	292,000	7,800	8,700	4,900	219.4	80	Apr 24, 2025	J-GAAP
Mar, 2026 New	287,000	6,000	7,000	3,700	165.7	100	Oct 29, 2025	J-GAAP
Revision Rate	-1.7%	-23.1%	-19.5%	-24.5%	-24.5%

Current Period Guidance

Second Half Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Oct - Mar, 2024	140,440	3,354	3,797	2,169	97.1	80	Apr 24, 2025	J-GAAP
Oct - Mar, 2025 Guidance	141,643	2,791	3,194	1,243	55.7	100	Oct 29, 2025	J-GAAP
YoY	+0.9%	-16.8%	-15.9%	-42.7%	-42.7%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2024	285,960	7,601	8,609	4,713	211.0	80	Apr 26, 2024	J-GAAP
Mar, 2025	287,816	7,461	8,340	4,884	218.7	80	Apr 24, 2025	J-GAAP
Mar, 2026 Guidance	287,000	6,000	7,000	3,700	165.7	100	Oct 29, 2025	J-GAAP
YoY	-0.3%	-19.6%	-16.1%	-24.2%	-24.3%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2024	76,040	2,502	2,723	1,535	68.8	3.3	Oct 25, 2024	J-GAAP
Oct - Dec, 2024	69,619	1,674	1,932	1,271	56.9	2.4	Jan 23, 2025	J-GAAP
Jan - Mar, 2025	70,821	1,680	1,865	898	40.2	2.4	Apr 24, 2025	J-GAAP
Apr - Jun, 2025	71,025	1,249	1,611	1,045	46.8	1.8	Jul 24, 2025	J-GAAP
Jul - Sep, 2025	74,332	1,960	2,195	1,412	63.2	2.6	Oct 29, 2025	J-GAAP
YoY	-2.2%	-21.7%	-19.4%	-8.0%	-8.0%