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TOSHO, First Half Ordinary Profit Unexpectedly Revised Upward by 27%

Fri Nov 7, 2025 3:20 pm JST Earnings

8920 TOSHO CO.,LTD. 【J-GAAP】

Earnings Report

TOSHO CO.,LTD. <8920> [TSE Std] announced its financial results in the afternoon session on November 7th (15:20). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2026 (April to September) increased 26.7% from the same period last year, reaching 3.69 billion yen, resulting in an increase in profits compared to the previous forecast of a 14.3% decrease.

Progress toward the full-year plan of 5.88 billion yen was 62.9%, also surpassing the five-year average of 41.2%.

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 decrease 27.6% from the same period last year to 2.18 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit decreased to 1.84 billion yen, a 4.8% decrease compared to the same period last year. However, the operating profit margin rose from 24.8% in the same period last year to 27.7%.

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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 12,539 1,939 1,989 700 18.3 48.5 Oct 31, 2023 J-GAAP
Apr - Sep, 2024 13,888 2,880 2,918 1,349 35.2 49.2 Nov 8, 2024 J-GAAP
Apr - Sep, 2025 13,842 3,682 3,696 1,701 44.8 62.9 Nov 7, 2025 J-GAAP
YoY -0.3% +27.8% +26.7% +26.1% +27.0%

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 12,680 2,510 2,500 920 24.4 5 Oct 14, 2025 J-GAAP
Apr - Sep, 2025 Results 13,842 3,682 3,696 1,701 44.8 5 Nov 7, 2025 J-GAAP
Revision Rate +9.2% +46.7% +47.8% +84.9% +83.3%

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 21,731 3,004 3,018 -121 -3.2 3 May 13, 2025 J-GAAP
Oct - Mar, 2025 Guidance 12,948 2,198 2,184 629 17.0 5 Nov 7, 2025 J-GAAP
YoY -40.4% -26.8% -27.6% － －

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2024 30,927 3,958 4,098 -2,229 -58.2 4 May 10, 2024 J-GAAP
Mar, 2025 35,619 5,884 5,936 1,228 32.1 5 May 13, 2025 J-GAAP
Mar, 2026 Guidance 26,790 5,880 5,880 2,330 63.1 10 Oct 14, 2025 J-GAAP
YoY -24.8% -0.1% -0.9% +89.7% +96.8%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2024 7,747 1,920 1,935 979 25.6 24.8 Nov 8, 2024 J-GAAP
Oct - Dec, 2024 15,689 1,971 1,976 945 24.7 12.6 Feb 7, 2025 J-GAAP
Jan - Mar, 2025 6,042 1,033 1,042 -1,066 -27.8 17.1 May 13, 2025 J-GAAP
Apr - Jun, 2025 7,245 1,856 1,853 878 23.0 25.6 Aug 5, 2025 J-GAAP
Jul - Sep, 2025 6,597 1,826 1,843 823 21.7 27.7 Nov 7, 2025 J-GAAP
YoY -14.8% -4.9% -4.8% -15.9% -15.3%

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