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SHIMIZU, First Half Ordinary Profit Increases by 2.1 times, Jul-Sep Ordinary Profit Increases by 72%

Fri Nov 7, 2025 1:00 pm JST Earnings

1803 SHIMIZU CORPORATION 【J-GAAP】

Earnings Report

SHIMIZU CORPORATION <1803> [TSE Prime] announced its financial results in the afternoon session on November 7th (13:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2026 (April to September) surged 2.1 times that of the same period last year, reaching 40.1 billion yen. Progress toward the full-year plan of 73.0 billion yen was 54.9%, also surpassing the five-year average of 30.8%.

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated ordinary profit for the October to March period (second half) is expected to drop 37.9% from the same period last year to 32.8 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit increased 71.5% from the same period last year, reaching 21.6 billion yen. The operating profit margin improved from 3.7% in the same period last year to 4.8%.

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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 936,878 165 5,155 16,249 22.1 ー Nov 7, 2023 J-GAAP
Apr - Sep, 2024 837,387 17,700 18,685 10,676 15.2 26.1 Nov 12, 2024 J-GAAP
Apr - Sep, 2025 897,008 38,920 40,112 46,155 67.9 54.9 Nov 7, 2025 J-GAAP
YoY +7.1% +119.9% +114.7% +332.3% +346.9%

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 ー ー ー ー － 22 May 14, 2025 J-GAAP
Apr - Sep, 2025 Results 897,008 38,920 40,112 46,155 67.9 22 Nov 7, 2025 J-GAAP
Revision Rate － － － － －

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 1,106,973 53,330 52,979 55,339 79.5 20.50 May 14, 2025 J-GAAP
Oct - Mar, 2025 Guidance 1,012,992 39,080 32,888 28,845 42.6 22 Nov 7, 2025 J-GAAP
YoY -8.5% -26.7% -37.9% -47.9% -46.3%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2024 2,005,518 -24,685 -19,834 17,163 23.6 20 May 13, 2024 J-GAAP
Mar, 2025 1,944,360 71,030 71,664 66,015 94.8 38 May 14, 2025 J-GAAP
Mar, 2026 Guidance 1,910,000 78,000 73,000 75,000 110.9 44 May 14, 2025 J-GAAP
YoY -1.8% +9.8% +1.9% +13.6% +16.9%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2024 436,365 15,931 12,604 8,268 11.8 3.7 Nov 12, 2024 J-GAAP
Oct - Dec, 2024 490,535 18,026 22,519 29,893 42.7 3.7 Jan 31, 2025 J-GAAP
Jan - Mar, 2025 616,438 35,304 30,460 25,446 36.5 5.7 May 14, 2025 J-GAAP
Apr - Jun, 2025 441,799 17,250 18,496 11,128 16.3 3.9 Jul 29, 2025 J-GAAP
Jul - Sep, 2025 455,209 21,670 21,616 35,027 51.6 4.8 Nov 7, 2025 J-GAAP
YoY +4.3% +36.0% +71.5% +323.6% +338.0%

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