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IHI, Net Income Forecast for the Fiscal Year Revised Upward by 4%, Raises Record High Profit Forecast

Thu Nov 6, 2025 1:00 pm JST Earnings

7013 IHI Corporation 【IFRS】

Earnings Report

IHI Corporation <7013> [TSE Prime] announced its financial results (based on IFRS) in the afternoon session on November 6th (13:00). The consolidated net income for the cumulative second quarter of the fiscal year ending March 2026 (April to September) expanded 55.9 billion yen, an increase 42.2% compared to the same period last year.

In addition, the full-year forecast for consolidated net income has been revised upward 4.2%, from the previous forecast of 120 billion yen to 125 billion yen (compared to 112 billion yen in the previous period), increasing the growth rate from 6.4% to 10.9%, further surpassing the previous forecast of record-high profits for two consecutive terms.

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 decrease 5.9% from the same period last year to 69.0 billion yen.

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 44.3 billion yen. However, the operating profit margin decreased from 13.1% in the same period last year to 12.9%.

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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 470,310 -157,031 -151,083 -137,566 -129.9 ー Nov 7, 2023 IFRS
Apr - Sep, 2024 757,488 77,263 62,660 39,309 37.1 45.2 Nov 6, 2024 IFRS
Apr - Sep, 2025 713,651 69,449 74,709 55,912 52.8 51.5 Nov 6, 2025 IFRS
YoY -5.8% -10.1% +19.2% +42.2% +42.2%

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 ー ー ー ー － 10 May 8, 2025 IFRS
Apr - Sep, 2025 Results 713,651 69,449 74,709 55,912 52.8 10 Nov 6, 2025 IFRS
Revision Rate － － － － －

Guidance Update

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2026 Prev 1,650,000 150,000 135,000 120,000 113.2 20 Aug 6, 2025 IFRS
Mar, 2026 New 1,640,000 160,000 145,000 125,000 117.9 20 Nov 6, 2025 IFRS
Revision Rate -0.6% +6.7% +7.4% +4.2% +4.2%

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 869,343 66,254 75,828 73,431 69.3 10 May 8, 2025 IFRS
Oct - Mar, 2025 Guidance 926,349 90,551 70,291 69,088 65.2 10 Nov 6, 2025 IFRS
YoY +6.6% +36.7% -7.3% -5.9% -6.0%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2024 1,322,591 -70,138 -72,280 -68,214 -64.4 14.29 May 8, 2024 IFRS
Mar, 2025 1,626,831 143,517 138,488 112,740 106.4 17.14 May 8, 2025 IFRS
Mar, 2026 Guidance 1,640,000 160,000 145,000 125,000 117.9 20 Nov 6, 2025 IFRS
YoY +0.8% +11.5% +4.7% +10.9% +10.8%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2024 409,325 53,433 30,978 20,726 19.6 13.1 Nov 6, 2024 IFRS
Oct - Dec, 2024 392,502 26,200 51,956 37,481 35.4 6.7 Feb 7, 2025 IFRS
Jan - Mar, 2025 476,841 40,054 23,872 35,950 33.9 8.4 May 8, 2025 IFRS
Apr - Jun, 2025 337,791 20,889 20,225 11,601 11.0 6.2 Aug 6, 2025 IFRS
Jul - Sep, 2025 375,860 48,560 54,484 44,311 41.8 12.9 Nov 6, 2025 IFRS
YoY -8.2% -9.1% +75.9% +113.8% +113.8%

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