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HARD OFF, First Half Ordinary Profit Decreases by 13%, Jul-Sep Ordinary Profit Decreases by 5%

Mon Nov 10, 2025 2:00 pm JST Earnings

2674 HARD OFF CORPORATION Co.,Ltd. 【J-GAAP】

Earnings Report

HARD OFF CORPORATION Co.,Ltd. <2674> [TSE Prime] announced its financial results in the afternoon session on November 10th (14:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2026 (April to September) decreased 12.8% from the same period last year to 1.43 billion yen. Progress toward the full-year plan of 3.66 billion yen was 39.1%, almost the same as the five-year average of 41.7%.

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 grow 26.4% from the same period last year, reaching 2.23 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit decreased to 0.59 billion yen, a 4.5% decrease compared to the same period last year. The operating profit margin worsened from 7.2% in the same period last year to 6.3%.

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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 14,177 1,083 1,201 757 54.5 40.2 Nov 8, 2023 J-GAAP
Apr - Sep, 2024 16,165 1,532 1,639 1,021 73.5 48.2 Nov 7, 2024 J-GAAP
Apr - Sep, 2025 17,257 1,328 1,430 925 66.6 39.1 Nov 10, 2025 J-GAAP
YoY +6.8% -13.3% -12.8% -9.4% -9.4%

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 17,250 1,540 1,628 1,040 74.8 0 May 12, 2025 J-GAAP
Apr - Sep, 2025 Results 17,257 1,328 1,430 925 66.6 0 Nov 10, 2025 J-GAAP
Revision Rate +0.0% -13.8% -12.2% -11.1% -11.0%

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 17,366 1,686 1,764 1,293 93.1 78 May 12, 2025 J-GAAP
Oct - Mar, 2025 Guidance 18,743 2,222 2,230 1,525 109.6 78 Nov 10, 2025 J-GAAP
YoY +7.9% +31.8% +26.4% +17.9% +17.8%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2024 30,105 2,803 2,990 2,093 150.6 76 May 9, 2024 J-GAAP
Mar, 2025 33,531 3,218 3,403 2,314 166.5 78 May 12, 2025 J-GAAP
Mar, 2026 Guidance 36,000 3,550 3,660 2,450 176.1 78 May 12, 2025 J-GAAP
YoY +7.4% +10.3% +7.6% +5.9% +5.7%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2024 7,883 565 620 354 25.5 7.2 Nov 7, 2024 J-GAAP
Oct - Dec, 2024 8,638 1,003 1,057 713 51.3 11.6 Feb 6, 2025 J-GAAP
Jan - Mar, 2025 8,728 683 707 580 41.7 7.8 May 12, 2025 J-GAAP
Apr - Jun, 2025 8,653 787 838 544 39.2 9.1 Aug 7, 2025 J-GAAP
Jul - Sep, 2025 8,604 541 592 381 27.4 6.3 Nov 10, 2025 J-GAAP
YoY +9.1% -4.2% -4.5% +7.6% +7.6%

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