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ARE Holdings, Net Income Forecast for the Fiscal Year Revised Upward by 34%, Dividend Revised Upward by 40 Yen

Wed Oct 29, 2025 3:30 pm JST Earnings

5857 ARE Holdings, Inc. 【IFRS】

Earnings Report

ARE Holdings, Inc. <5857> [TSE Prime] announced its financial results (based on IFRS) after the market closed on October 29th (15:30). The consolidated net income for the cumulative second quarter of the fiscal year ending March 2026 (April to September) expanded 10.8 billion yen, an increase 64.3% compared to the same period last year, exceeded the previous forecast of 8.13 billion yen.

In addition, the full-year forecast for consolidated net income has been revised upward 33.5%, from the previous forecast of 16.1 billion yen to 21.6 billion yen (compared to 14.3 billion yen in the previous period), increasing the growth rate from 13.0% to 50.8%.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the consolidated net income for the October to March period (second half) is expected to expand 39.4% from the same period last year, reaching 10.7 billion yen.

In light of the strong performance, the company has significantly increased its planned annual dividend for the current fiscal year from the original plan of 80 yen to 120 yen (compared to 80 yen in the previous period).

In the most recent three-month period, from July to September (2Q), the consolidated net income surged 2.1 times that of the same period last year, reaching 7.21 billion yen. The operating profit margin drastically improved from 3.2% in the same period last year to 9.3%.

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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
Apr - Sep, 2023 144,226 5,700 5,898 5,259 68.6 47.5 Oct 26, 2023 IFRS
Apr - Sep, 2024 240,357 8,317 8,392 6,604 86.4 41.0 Oct 30, 2024 IFRS
Apr - Sep, 2025 238,239 15,332 13,869 10,849 141.6 47.7 Oct 29, 2025 IFRS
YoY -0.9% +84.3% +65.3% +64.3% +63.9%

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 219,822 10,706 10,653 8,131 106.1 40 Apr 25, 2025 IFRS
Apr - Sep, 2025 Results 238,239 15,332 13,869 10,849 141.6 60 Oct 29, 2025 IFRS
Revision Rate +8.4% +43.2% +30.2% +33.4% +33.4%

Guidance Update

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2026 Prev 448,199 22,000 21,895 16,179 211.1 80 Apr 25, 2025 IFRS
Mar, 2026 New 517,000 30,000 29,100 21,600 281.9 120 Oct 29, 2025 IFRS
Revision Rate +15.4% +36.4% +32.9% +33.5% +33.5%

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 265,854 11,667 12,091 7,715 100.8 40 Apr 25, 2025 IFRS
Oct - Mar, 2025 Guidance 278,761 14,668 15,231 10,751 140.3 60 Oct 29, 2025 IFRS
YoY +4.9% +25.7% +26.0% +39.4% +39.2%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2024 322,253 12,367 12,426 24,490 319.5 90 Apr 25, 2024 IFRS
Mar, 2025 506,211 19,984 20,483 14,319 187.1 80 Apr 25, 2025 IFRS
Mar, 2026 Guidance 517,000 30,000 29,100 21,600 281.9 120 Oct 29, 2025 IFRS
YoY +2.1% +50.1% +42.1% +50.8% +50.6%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2024 148,057 4,700 4,596 3,407 44.6 3.2 Oct 30, 2024 IFRS
Oct - Dec, 2024 132,612 6,369 6,945 4,781 62.5 4.8 Jan 29, 2025 IFRS
Jan - Mar, 2025 133,242 5,298 5,146 2,934 38.3 4.0 Apr 25, 2025 IFRS
Apr - Jun, 2025 137,120 5,928 4,989 3,639 47.5 4.3 Jul 30, 2025 IFRS
Jul - Sep, 2025 101,119 9,404 8,880 7,210 94.1 9.3 Oct 29, 2025 IFRS
YoY -31.7% +100.1% +93.2% +111.6% +111.1%

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