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ISHIHARA SANGYO, Ordinary Profit Forecast for the Fiscal Year Revised Upward by 29%, Highest in Two Terms

Thu Nov 6, 2025 1:00 pm JST Earnings

4028 ISHIHARA SANGYO KAISHA, LTD. 【J-GAAP】

Earnings Report

ISHIHARA SANGYO KAISHA, LTD. <4028> [TSE Prime] announced its financial results in the afternoon session on November 6th (13:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2026 (April to September) surged 3.4 times that of the same period last year, reaching 8.50 billion yen, exceeded the previous forecast of 5.00 billion yen.

In addition, the full-year forecast for consolidated ordinary profit has been revised upward 29.1%, from the previous forecast of 12.7 billion yen to 16.4 billion yen (compared to 11.3 billion yen in the previous period), increasing the growth rate from 11.5% to 44.0%, reaches new record high for the first time in two terms.

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 11.3% from the same period last year to 7.89 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit/loss turned to a profit of 2.31 billion yen (compared to a loss of 1.65 billion yen in the same period last year). The operating profit margin significantly improved from 2.3% in the same period last year to 6.4%.

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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 67,529 2,280 5,528 3,748 98.2 37.2 Nov 10, 2023 J-GAAP
Apr - Sep, 2024 74,522 2,653 2,486 727 19.0 21.8 Nov 8, 2024 J-GAAP
Apr - Sep, 2025 76,459 7,371 8,501 5,649 147.7 51.8 Nov 6, 2025 J-GAAP
YoY +2.6% +177.8% +242.0% +677.0% +675.9%

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 76,500 4,700 5,000 2,400 62.7 30 Aug 8, 2025 J-GAAP
Apr - Sep, 2025 Results 76,459 7,371 8,501 5,649 147.7 30 Nov 6, 2025 J-GAAP
Revision Rate -0.1% +56.8% +70.0% +135.4% +135.4%

Guidance Update

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2026 Prev 147,000 15,000 12,700 9,200 240.4 100 May 8, 2025 J-GAAP
Mar, 2026 New 152,000 16,000 16,400 12,200 318.7 100 Nov 6, 2025 J-GAAP
Revision Rate +3.4% +6.7% +29.1% +32.6% +32.6%

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 70,674 7,829 8,906 7,683 201.0 85 May 8, 2025 J-GAAP
Oct - Mar, 2025 Guidance 75,541 8,629 7,899 6,551 171.2 70 Nov 6, 2025 J-GAAP
YoY +6.9% +10.2% -11.3% -14.7% -14.8%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2024 138,456 11,491 14,850 7,988 209.3 70 May 10, 2024 J-GAAP
Mar, 2025 145,196 10,482 11,392 8,410 220.0 85 May 8, 2025 J-GAAP
Mar, 2026 Guidance 152,000 16,000 16,400 12,200 318.7 100 Nov 6, 2025 J-GAAP
YoY +4.7% +52.6% +44.0% +45.1% +44.9%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2024 36,927 867 -1,650 -2,146 -56.2 2.3 Nov 8, 2024 J-GAAP
Oct - Dec, 2024 30,900 1,181 3,145 1,072 28.1 3.8 Feb 12, 2025 J-GAAP
Jan - Mar, 2025 39,774 6,648 5,761 6,611 172.9 16.7 May 8, 2025 J-GAAP
Apr - Jun, 2025 42,561 5,206 6,190 4,737 123.8 12.2 Aug 8, 2025 J-GAAP
Jul - Sep, 2025 33,898 2,165 2,311 912 23.8 6.4 Nov 6, 2025 J-GAAP
YoY -8.2% +149.7% － － －

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