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Shinwa, Net Income Forecast for the Fiscal Year Revised Upward by 25%, Dividend Revised Upward by 2 Yen

Thu Nov 6, 2025 1:00 pm JST Earnings

3447 Shinwa Co., Ltd. 【IFRS】

Earnings Report

Shinwa Co., Ltd. <3447> [TSE Std] 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 0.87 billion yen, an increase 65.8% compared to the same period last year, exceeded the previous forecast of 0.73 billion yen.

In addition, the full-year forecast for consolidated net income has been revised upward 24.6%, from the previous forecast of 1.00 billion yen to 1.24 billion yen (compared to 0.97 billion yen in the previous period), increasing the growth rate from 2.6% to 27.8%.

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 17.5% from the same period last year to 0.36 billion yen.

In light of the strong performance, the company has increased its planned annual dividend for the current fiscal year from the original plan of 32 yen to 34 yen (compared to 32 yen in the previous period).

In the most recent three-month period, from July to September (2Q), the consolidated net income increased 65.3% from the same period last year, reaching 0.43 billion yen. The operating profit margin improved from 10.0% in the same period last year to 12.7%.

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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 6,621 520 496 339 24.4 76.1 Nov 10, 2023 IFRS
Apr - Sep, 2024 8,542 871 815 530 38.2 54.4 Nov 14, 2024 IFRS
Apr - Sep, 2025 9,902 1,367 1,280 879 64.4 70.3 Nov 6, 2025 IFRS
YoY +15.9% +56.9% +57.1% +65.8% +68.6%

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 9,600 1,150 1,050 730 54.0 16 Sep 29, 2025 IFRS
Apr - Sep, 2025 Results 9,902 1,367 1,280 879 64.4 16 Nov 6, 2025 IFRS
Revision Rate +3.1% +18.9% +21.9% +20.4% +19.3%

Guidance Update

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2026 Prev 17,800 1,650 1,520 1,000 73.8 32 May 14, 2025 IFRS
Mar, 2026 New 20,000 2,000 1,820 1,246 91.9 34 Nov 6, 2025 IFRS
Revision Rate +12.4% +21.2% +19.7% +24.6% +24.6%

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 8,961 751 683 445 32.0 16 May 14, 2025 IFRS
Oct - Mar, 2025 Guidance 10,098 633 540 367 27.1 18 Nov 6, 2025 IFRS
YoY +12.7% -15.7% -20.9% -17.5% -15.5%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2024 12,678 700 652 409 29.5 32 May 10, 2024 IFRS
Mar, 2025 17,503 1,622 1,498 975 70.2 32 May 14, 2025 IFRS
Mar, 2026 Guidance 20,000 2,000 1,820 1,246 91.9 34 Nov 6, 2025 IFRS
YoY +14.3% +23.3% +21.5% +27.8% +31.0%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2024 4,504 450 420 265 19.1 10.0 Nov 14, 2024 IFRS
Oct - Dec, 2024 4,298 547 510 337 24.3 12.7 Feb 14, 2025 IFRS
Jan - Mar, 2025 4,663 204 173 108 7.8 4.4 May 14, 2025 IFRS
Apr - Jun, 2025 4,523 682 633 441 32.1 15.1 Aug 4, 2025 IFRS
Jul - Sep, 2025 5,379 685 647 438 32.1 12.7 Nov 6, 2025 IFRS
YoY +19.4% +52.2% +54.0% +65.3% +68.0%

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