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KADOKAWA, Ordinary Profit Forecast for the Fiscal Year Revised Downward to an Unexpected 30% Decrease

Thu Nov 6, 2025 3:30 pm JST Earnings

9468 KADOKAWA CORPORATION 【J-GAAP】

Earnings Report

KADOKAWA CORPORATION <9468> [TSE Prime] announced its financial results after the market closed on November 6th (15:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2026 (April to September) dropped 30.6% from the same period last year to 6.77 billion yen.

In addition, the full-year forecast for consolidated ordinary profit has decreased 33.7%, from the previous forecast of 18.7 billion yen to 12.4 billion yen (compared to 17.7 billion yen in the previous period). This changes the outlook from an anticipated profit increase to a projection of a 30.1% decrease in profit.

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 29.5% from the same period last year to 5.62 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit surged 2.1 times that of the same period last year, reaching 4.42 billion yen. However, the operating profit margin worsened from 6.5% in the same period last year to 4.7%.

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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 124,207 8,604 9,389 4,125 29.8 46.4 Nov 2, 2023 J-GAAP
Apr - Sep, 2024 136,320 10,626 9,771 3,096 23.0 55.1 Nov 7, 2024 J-GAAP
Apr - Sep, 2025 133,933 5,550 6,778 1,491 10.2 54.7 Nov 6, 2025 J-GAAP
YoY -1.8% -47.8% -30.6% -51.8% -55.8%

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 ー ー ー ー － 0 May 8, 2025 J-GAAP
Apr - Sep, 2025 Results 133,933 5,550 6,778 1,491 10.2 0 Nov 6, 2025 J-GAAP
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 291,900 16,700 18,700 11,400 77.6 30 May 8, 2025 J-GAAP
Mar, 2026 New 278,200 10,300 12,400 4,900 33.3 30 Nov 6, 2025 J-GAAP
Revision Rate -4.7% -38.3% -33.7% -57.0% -57.0%

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 141,595 6,025 7,971 4,296 31.3 30 May 8, 2025 J-GAAP
Oct - Mar, 2025 Guidance 144,267 4,750 5,622 3,409 23.2 30 Nov 6, 2025 J-GAAP
YoY +1.9% -21.2% -29.5% -20.6% -25.9%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2024 258,109 18,454 20,236 11,384 83.4 30 May 9, 2024 J-GAAP
Mar, 2025 277,915 16,651 17,742 7,392 53.9 30 May 8, 2025 J-GAAP
Mar, 2026 Guidance 278,200 10,300 12,400 4,900 33.3 30 Nov 6, 2025 J-GAAP
YoY +0.1% -38.1% -30.1% -33.7% -38.1%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2024 70,460 4,597 2,072 -358 -2.7 6.5 Nov 7, 2024 J-GAAP
Oct - Dec, 2024 70,267 5,212 7,455 4,270 31.8 7.4 Feb 6, 2025 J-GAAP
Jan - Mar, 2025 71,328 813 516 26 0.2 1.1 May 8, 2025 J-GAAP
Apr - Jun, 2025 64,844 2,318 2,349 2,858 19.5 3.6 Aug 7, 2025 J-GAAP
Jul - Sep, 2025 69,089 3,232 4,429 -1,367 -9.3 4.7 Nov 6, 2025 J-GAAP
YoY -1.9% -29.7% +113.8% -281.8% -250.4%

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