OBAYASHI , Ordinary Profit Forecast for the Fiscal Year Revised Upward to an Unexpected 13% Increase, Highest in Seven Terms
1802 OBAYASHI CORPORATION 【J-GAAP】
Earnings ReportOBAYASHI CORPORATION <1802> [TSE Prime] announced its financial results at noon (12:00) on November 5th. The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2026 (April to September) expanded 84.5 billion yen, an increase 72.2% compared to the same period last year.
In addition, the full-year forecast for consolidated ordinary profit has been revised upward 36.5%, from the previous forecast of 126 billion yen to 172 billion yen (compared to 152 billion yen in the previous period), reaches new record high for the first time in seven terms, turning to a 13.0% increase in the consolidated ordinary profit outlook.
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 16.1% from the same period last year to 87.4 billion yen.
In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit surged 2.3 times that of the same period last year, reaching 66.1 billion yen. The operating profit margin drastically improved from 4.6% in the same period last year to 10.1%.
Kabutan News
Actual Performance and Financial Trends
| Fiscal Year | Revenue | Operating Profit |
Ordinary Profit |
Net Profit |
Adj. EPS |
Progress Rate vs. First Half |
Announce | Accounting Standards |
|---|---|---|---|---|---|---|---|---|
|
|
1,081,360M | 30,843M | 38,009M | 29,741M | 41.5 | 41.5 | Nov 6, 2023 | J-GAAP |
|
|
1,222,854M | 44,989M | 49,107M | 54,579M | 76.1 | 32.3 | Nov 11, 2024 | J-GAAP |
|
|
1,161,287M | 80,077M | 84,547M | 77,967M | 110.8 | 49.2 | Nov 5, 2025 | J-GAAP |
| YoY | -5.0% | +78.0% | +72.2% | +42.9% | +45.6% |
| Fiscal Year | Revenue | Operating Profit |
Ordinary Profit |
Net Profit |
Adj. EPS |
Adj. Dividend |
Announce | Accounting Standards |
|---|---|---|---|---|---|---|---|---|
| Apr - Sep, 2025 Guidance | ー | ー | ー | ー | － | 41 | May 13, 2025 | J-GAAP |
| Apr - Sep, 2025 Results | 1,161,287M | 80,077M | 84,547M | 77,967M | 110.8 | 41 | Nov 5, 2025 | J-GAAP |
| Revision Rate | － | － | － | － | － |
Guidance Update
| Fiscal Year | Revenue | Operating Profit |
Ordinary Profit |
Net Profit |
Adj. EPS |
Adj. Dividend |
Announce | Accounting Standards |
|---|---|---|---|---|---|---|---|---|
| Mar, 2026 Prev | 2,560,000M | 122,000M | 126,000M | 100,000M | 145.5 | 82 | May 13, 2025 | J-GAAP |
| Mar, 2026 New | 2,570,000M | 165,000M | 172,000M | 149,000M | 216.8 | 82 | Nov 5, 2025 | J-GAAP |
| Revision Rate | +0.4% | +35.2% | +36.5% | +49.0% | +49.0% |
Current Period Guidance
| Fiscal Year | Revenue | Operating Profit |
Ordinary Profit |
Net Profit |
Adj. EPS |
Adj. Dividend |
Announce | Accounting Standards |
|---|---|---|---|---|---|---|---|---|
|
|
1,367,911M | 97,480M | 103,129M | 90,776M | 126.7 | 41 | May 13, 2025 | J-GAAP |
|
Guidance
Oct - Mar, 2025
|
1,408,713M | 84,923M | 87,453M | 71,033M | 103.3 | 41 | Nov 5, 2025 | J-GAAP |
| YoY | +3.0% | -12.9% | -15.2% | -21.7% | -18.5% |
| Fiscal Year | Revenue | Operating Profit |
Ordinary Profit |
Net Profit |
Adj. EPS |
Adj. Dividend |
Announce | Accounting Standards |
|---|---|---|---|---|---|---|---|---|
|
|
2,325,162M | 79,381M | 91,515M | 75,059M | 104.7 | 75 | May 13, 2024 | J-GAAP |
|
|
2,590,765M | 142,469M | 152,236M | 145,355M | 202.9 | 81 | May 13, 2025 | J-GAAP |
|
Guidance
Mar, 2026
|
2,570,000M | 165,000M | 172,000M | 149,000M | 216.8 | 82 | Nov 5, 2025 | J-GAAP |
| YoY | -0.8% | +15.8% | +13.0% | +2.5% | +6.8% |
Quarterly Results
| Fiscal Year | Revenue | Operating Profit |
Ordinary Profit |
Net Profit |
Adj. EPS |
Operating Profit Margin |
Announce | Accounting Standards |
|---|---|---|---|---|---|---|---|---|
|
|
651,063M | 29,662M | 28,871M | 28,779M | 40.1 | 4.6 | Nov 11, 2024 | J-GAAP |
|
|
677,527M | 52,614M | 57,091M | 41,385M | 57.7 | 7.8 | Feb 10, 2025 | J-GAAP |
|
|
690,384M | 44,866M | 46,038M | 49,391M | 69.0 | 6.5 | May 13, 2025 | J-GAAP |
|
|
523,763M | 15,798M | 18,396M | 18,070M | 25.6 | 3.0 | Aug 8, 2025 | J-GAAP |
|
|
637,524M | 64,279M | 66,151M | 59,897M | 85.2 | 10.1 | Nov 5, 2025 | J-GAAP |
| YoY | -2.1% | +116.7% | +129.1% | +108.1% | +112.1% |
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