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Alfresa Holdings, Net Income Forecast for the Fiscal Year Revised Upward to an Unexpected 31% Increase

Thu Nov 6, 2025 2:30 pm JST Earnings

2784 Alfresa Holdings Corporation 【J-GAAP】

Earnings Report

Alfresa Holdings Corporation <2784> [TSE Prime] announced its financial results in the afternoon session on November 6th (14:30). The consolidated net income for the cumulative second quarter of the fiscal year ending March 2026 (April to September) decreased 18.1% from the same period last year to 11.5 billion yen.

However, the full-year forecast for consolidated net income has been revised upward 44.0%, from the previous forecast of 25.0 billion yen to 36.0 billion yen (compared to 27.3 billion yen in the previous period), turning to a 31.4% increase in the consolidated net income outlook.

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 expand 83.7% from the same period last year, reaching 24.4 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated net income dropped to 6.51 billion yen, a 32.4% decrease compared to the same period last year. However, the operating profit margin remained almost flat, changing from 1.1% in the same period last year to 1.2%.

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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 1,427,856 15,998 17,280 11,850 60.3 43.2 Nov 7, 2023 J-GAAP
Apr - Sep, 2024 1,456,355 14,995 16,279 14,065 75.3 40.2 Nov 7, 2024 J-GAAP
Apr - Sep, 2025 1,529,762 16,207 17,485 11,521 63.4 44.0 Nov 6, 2025 J-GAAP
YoY +5.0% +8.1% +7.4% -18.1% -15.8%

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 1,529,700 16,200 17,400 11,500 63.2 34 Oct 31, 2025 J-GAAP
Apr - Sep, 2025 Results 1,529,762 16,207 17,485 11,521 63.4 34 Nov 6, 2025 J-GAAP
Revision Rate +0.0% +0.0% +0.5% +0.2% +0.2%

Guidance Update

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2026 Prev 3,107,000 37,100 39,700 25,000 137.6 68 May 15, 2025 J-GAAP
Mar, 2026 New 3,107,000 37,100 39,700 36,000 198.1 68 Nov 6, 2025 J-GAAP
Revision Rate 0.0% 0.0% 0.0% +44.0% +44.0%

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 1,504,696 23,085 24,206 13,324 71.8 32 May 15, 2025 J-GAAP
Oct - Mar, 2025 Guidance 1,577,238 20,893 22,215 24,479 134.7 34 Nov 6, 2025 J-GAAP
YoY +4.8% -9.5% -8.2% +83.7% +87.7%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2024 2,858,500 38,460 39,997 29,558 154.1 70 May 14, 2024 J-GAAP
Mar, 2025 2,961,051 38,080 40,485 27,389 147.5 63 May 15, 2025 J-GAAP
Mar, 2026 Guidance 3,107,000 37,100 39,700 36,000 198.1 68 Nov 6, 2025 J-GAAP
YoY +4.9% -2.6% -1.9% +31.4% +34.3%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2024 733,990 8,305 9,038 9,634 51.6 1.1 Nov 7, 2024 J-GAAP
Oct - Dec, 2024 805,969 16,153 16,882 11,661 62.5 2.0 Feb 10, 2025 J-GAAP
Jan - Mar, 2025 698,727 6,932 7,324 1,663 9.0 1.0 May 15, 2025 J-GAAP
Apr - Jun, 2025 758,118 6,964 7,655 5,004 27.5 0.9 Aug 6, 2025 J-GAAP
Jul - Sep, 2025 771,644 9,243 9,830 6,517 35.8 1.2 Nov 6, 2025 J-GAAP
YoY +5.1% +11.3% +8.8% -32.4% -30.5%

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