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KAWASAKI SETSUBI, First Half Ordinary Profit Increases by 4.0 times, Current Fiscal Year Dividend Revised Upward by 25 Yen

Fri Oct 31, 2025 1:00 pm JST Earnings

1777 KAWASAKI SETSUBI KOGYO CO., LTD. 【J-GAAP】

Earnings Report

KAWASAKI SETSUBI KOGYO CO., LTD. <1777> [NSE Main] announced its financial results in the afternoon session on October 31st (13:00). The ordinary profit (non-consolidated) for the cumulative second quarter of the fiscal year ending March 2026 (April to September) surged 4.0 times that of the same period last year, reaching 2.47 billion yen. Progress toward the full-year plan of 4.10 billion yen was 60.3%, also surpassing the five-year average of 34.5%.

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the ordinary profit for the October to March period (second half) is expected to decrease 22.9% from the same period last year to 1.62 billion yen.

At the same time, the company has significantly increased its planned annual dividend for the current fiscal year from the original plan of 50 yen to 75 yen (compared to 50 yen in the previous period).

In the most recent three-month period, from July to September (2Q), the ordinary profit surged 2.2 times that of the same period last year, reaching 1.03 billion yen. The operating profit margin significantly improved from 7.1% in the same period last year to 11.4%.

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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 9,641 229 236 149 12.5 17.4 Oct 31, 2023 J-GAAP
Apr - Sep, 2024 11,026 609 621 382 32.0 22.7 Oct 31, 2024 J-GAAP
Apr - Sep, 2025 18,052 2,451 2,472 1,702 142.3 60.3 Oct 31, 2025 J-GAAP
YoY +63.7% +302.5% +298.1% +345.5% +344.6%

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 18,000 2,400 2,420 1,655 138.3 25 Jul 31, 2025 J-GAAP
Apr - Sep, 2025 Results 18,052 2,451 2,472 1,702 142.3 25 Oct 31, 2025 J-GAAP
Revision Rate +0.3% +2.1% +2.1% +2.8% +2.9%

Guidance Update

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2026 Prev 36,000 4,000 4,100 2,821 235.8 50 Jul 31, 2025 J-GAAP
Mar, 2026 New 36,000 4,000 4,100 2,821 235.8 75 Oct 31, 2025 J-GAAP
Revision Rate 0.0% 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 18,133 2,104 2,112 1,576 131.8 39 Apr 28, 2025 J-GAAP
Oct - Mar, 2025 Guidance 17,948 1,549 1,628 1,119 93.5 50 Oct 31, 2025 J-GAAP
YoY -1.0% -26.4% -22.9% -29.0% -29.0%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2024 22,482 1,333 1,354 845 70.7 22 Apr 26, 2024 J-GAAP
Mar, 2025 29,159 2,713 2,733 1,958 163.7 50 Apr 28, 2025 J-GAAP
Mar, 2026 Guidance 36,000 4,000 4,100 2,821 235.8 75 Oct 31, 2025 J-GAAP
YoY +23.5% +47.4% +50.0% +44.1% +44.0%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2024 6,409 458 463 280 23.5 7.1 Oct 31, 2024 J-GAAP
Oct - Dec, 2024 7,369 524 536 362 30.3 7.1 Jan 31, 2025 J-GAAP
Jan - Mar, 2025 10,764 1,580 1,576 1,214 101.5 14.7 Apr 28, 2025 J-GAAP
Apr - Jun, 2025 9,058 1,423 1,439 993 83.0 15.7 Jul 31, 2025 J-GAAP
Jul - Sep, 2025 8,994 1,028 1,033 709 59.3 11.4 Oct 31, 2025 J-GAAP
YoY +40.3% +124.5% +123.1% +153.2% +152.7%

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