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NS Solutions, First Half Net Income Revised Downward to an Unexpected 1%Decrease

Thu Oct 30, 2025 3:30 pm JST Earnings

2327 NS Solutions Corporation 【IFRS】

Earnings Report

NS Solutions Corporation <2327> [TSE Prime] announced its financial results (based on IFRS) after the market closed on October 30th (15:30). The consolidated net income for the cumulative second quarter of the fiscal year ending March 2026 (April to September) was 12.0 billion yen, a 1.5% decrease compared to the same period last year, resulting in a decrease in profits compared to the previous forecast of a 3.4% increase.

Progress toward the full-year plan of 29.2 billion yen was 41.1%, almost the same as the four-year average of 43.3%.

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 grow 15.7% from the same period last year, reaching 17.1 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated net income amounted to 6.89 billion yen, an increase of 1.3% compared to the same period last year. However, the operating profit margin decreased from 11.7% in the same period last year to 10.2%.

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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 144,774 14,642 15,012 9,500 51.9 42.4 Oct 27, 2023 IFRS
Apr - Sep, 2024 156,612 18,125 18,157 12,186 66.6 46.5 Oct 29, 2024 IFRS
Apr - Sep, 2025 178,375 18,272 18,848 12,007 65.6 43.1 Oct 30, 2025 IFRS
YoY +13.9% +0.8% +3.8% -1.5% -1.5%

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 168,000 19,000 19,400 12,600 68.9 40 Apr 28, 2025 IFRS
Apr - Sep, 2025 Results 178,375 18,272 18,848 12,007 65.6 40 Oct 30, 2025 IFRS
Revision Rate +6.2% -3.8% -2.8% -4.7% -4.7%

Guidance Update

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2026 Prev 357,000 43,000 43,700 29,200 159.6 80 Apr 28, 2025 IFRS
Mar, 2026 New 377,000 43,000 43,700 29,200 159.6 80 Oct 30, 2025 IFRS
Revision Rate +5.6% 0.0% 0.0% 0.0% 0.0%

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 181,689 20,372 20,919 14,863 81.2 37.50 Apr 28, 2025 IFRS
Oct - Mar, 2025 Guidance 198,625 24,728 24,852 17,193 94.0 40 Oct 30, 2025 IFRS
YoY +9.3% +21.4% +18.8% +15.7% +15.7%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2024 310,632 35,001 35,437 24,241 132.5 42.50 Apr 26, 2024 IFRS
Mar, 2025 338,301 38,497 39,076 27,049 147.8 74 Apr 28, 2025 IFRS
Mar, 2026 Guidance 377,000 43,000 43,700 29,200 159.6 80 Oct 30, 2025 IFRS
YoY +11.4% +11.7% +11.8% +8.0% +7.9%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2024 79,786 9,310 9,136 6,805 37.2 11.7 Oct 29, 2024 IFRS
Oct - Dec, 2024 83,682 11,462 12,113 8,215 44.9 13.7 Feb 4, 2025 IFRS
Jan - Mar, 2025 98,007 8,910 8,806 6,648 36.3 9.1 Apr 28, 2025 IFRS
Apr - Jun, 2025 82,684 8,485 8,814 5,111 27.9 10.3 Jul 30, 2025 IFRS
Jul - Sep, 2025 95,691 9,787 10,034 6,896 37.7 10.2 Oct 30, 2025 IFRS
YoY +19.9% +5.1% +9.8% +1.3% +1.3%

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