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SQUARE ENIX, Net Income Forecast for the Fiscal Year Revised Downward to an Unexpected 31% Decrease

Thu Nov 6, 2025 3:30 pm JST Earnings

9684 SQUARE ENIX HOLDINGS CO.,LTD. 【J-GAAP】

Earnings Report

SQUARE ENIX HOLDINGS CO.,LTD. <9684> [TSE Prime] announced its financial results after the market closed on November 6th (15:30). The consolidated net income for the cumulative second quarter of the fiscal year ending March 2026 (April to September) decreased 14.5% from the same period last year to 10.0 billion yen.

In addition, the full-year forecast for consolidated net income has decreased 41.1%, from the previous forecast of 28.7 billion yen to 16.9 billion yen (compared to 24.4 billion yen in the previous period). This changes the outlook from an anticipated profit increase to a projection of a 30.8% decrease in profit.

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 drop 45.9% from the same period last year to 6.84 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated net income surged 4.6 times that of the same period last year, reaching 5.24 billion yen. The operating profit margin jumped from 11.8% in the same period last year to 24.5%.

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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 172,046 17,337 26,124 16,623 46.2 62.9 Nov 7, 2023 J-GAAP
Apr - Sep, 2024 157,591 21,176 18,141 11,750 32.6 44.3 Nov 8, 2024 J-GAAP
Apr - Sep, 2025 133,895 27,278 28,553 10,052 27.9 69.6 Nov 6, 2025 J-GAAP
YoY -15.0% +28.8% +57.4% -14.5% -14.6%

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 ー ー ー ー － 18 May 14, 2025 J-GAAP
Apr - Sep, 2025 Results 133,895 27,278 28,553 10,052 27.9 18 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 280,000 41,000 41,000 28,700 79.6 43 May 14, 2025 J-GAAP
Mar, 2026 New 280,000 41,000 41,000 16,900 46.9 43 Nov 6, 2025 J-GAAP
Revision Rate 0.0% 0.0% 0.0% -41.1% -41.1%

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 166,915 19,404 22,798 12,664 35.2 33.67 May 14, 2025 J-GAAP
Oct - Mar, 2025 Guidance 146,105 13,722 12,447 6,848 19.0 25 Nov 6, 2025 J-GAAP
YoY -12.5% -29.3% -45.4% -45.9% -46.0%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2024 356,344 32,558 41,541 14,912 41.5 12.67 May 13, 2024 J-GAAP
Mar, 2025 324,506 40,580 40,939 24,414 67.8 43 May 14, 2025 J-GAAP
Mar, 2026 Guidance 280,000 41,000 41,000 16,900 46.9 43 Nov 6, 2025 J-GAAP
YoY -13.7% +1.0% +0.1% -30.8% -30.8%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2024 87,676 10,332 2,844 1,130 3.1 11.8 Nov 8, 2024 J-GAAP
Oct - Dec, 2024 90,928 12,205 19,618 12,968 36.0 13.4 Feb 7, 2025 J-GAAP
Jan - Mar, 2025 75,987 7,199 3,180 -304 -0.8 9.5 May 14, 2025 J-GAAP
Apr - Jun, 2025 59,275 9,018 6,889 4,804 13.3 15.2 Aug 8, 2025 J-GAAP
Jul - Sep, 2025 74,620 18,260 21,664 5,248 14.6 24.5 Nov 6, 2025 J-GAAP
YoY -14.9% +76.7% +661.7% +364.4% +363.7%

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