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Meiwa Estate Company, First Half Ordinary Profit Increases by 3.2 times, Exceeds Full-Year Plan

Mon Nov 10, 2025 3:30 pm JST Earnings

8869 Meiwa Estate Company Limited 【J-GAAP】

Earnings Report

Meiwa Estate Company Limited <8869> [TSE Std] announced its financial results after the market closed on November 10th (15:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2026 (April to September) surged 3.2 times that of the same period last year, reaching 6.99 billion yen. Progress toward the full-year plan of 4.30 billion yen is 162.6%, already exceeding the target and also exceeding the five-year average of 46.6%.

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated ordinary profit/loss for the October to March period (second half) is expected to turn into a loss of 2.69 billion yen (compared to a profit of 1.60 billion yen in the same period last year).

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit surged 6.2 times that of the same period last year, reaching 1.70 billion yen. The operating profit margin significantly improved from 4.3% in the same period last year to 9.1%.

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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 30,048 1,723 1,188 1,110 47.4 29.8 Nov 13, 2023 J-GAAP
Apr - Sep, 2024 34,825 2,704 2,162 1,644 70.1 57.4 Nov 11, 2024 J-GAAP
Apr - Sep, 2025 58,991 7,707 6,990 4,829 206.0 162.6 Nov 10, 2025 J-GAAP
YoY +69.4% +185.0% +223.3% +193.7% +193.7%

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 12, 2025 J-GAAP
Apr - Sep, 2025 Results 58,991 7,707 6,990 4,829 206.0 0 Nov 10, 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 45,077 2,536 1,607 1,253 53.5 40 May 12, 2025 J-GAAP
Oct - Mar, 2025 Guidance 25,009 -1,407 -2,690 -1,929 -82.3 45 Nov 10, 2025 J-GAAP
YoY -44.5% － － － －

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2024 71,250 4,973 3,990 2,781 118.6 40 May 13, 2024 J-GAAP
Mar, 2025 79,902 5,240 3,769 2,897 123.6 40 May 12, 2025 J-GAAP
Mar, 2026 Guidance 84,000 6,300 4,300 2,900 123.7 45 May 12, 2025 J-GAAP
YoY +5.1% +20.2% +14.1% +0.1% +0.1%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2024 13,573 584 277 71 3.0 4.3 Nov 11, 2024 J-GAAP
Oct - Dec, 2024 23,434 1,309 769 558 23.8 5.6 Feb 10, 2025 J-GAAP
Jan - Mar, 2025 21,643 1,227 838 695 29.6 5.7 May 12, 2025 J-GAAP
Apr - Jun, 2025 38,043 5,808 5,286 3,658 156.0 15.3 Aug 8, 2025 J-GAAP
Jul - Sep, 2025 20,948 1,899 1,704 1,171 50.0 9.1 Nov 10, 2025 J-GAAP
YoY +54.3% +225.2% +515.2% +1,549.3% +1,548.5%

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