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Fuso Pharma, First Half Ordinary Profit Decreases by 47%

Mon Nov 10, 2025 3:30 pm JST Earnings

4538 Fuso Pharmaceutical Industries,Ltd. 【J-GAAP】

Earnings Report

Fuso Pharmaceutical Industries,Ltd. <4538> [TSE Prime] announced its financial results after the market closed on November 10th (15:30). The ordinary profit (non-consolidated) for the cumulative second quarter of the fiscal year ending March 2026 (April to September) dropped 47.2% from the same period last year to 1.13 billion yen, fell short of the previous forecast of 1.60 billion yen.

Progress toward the full-year plan of 3.30 billion yen was 34.3%, also falling below the five-year average of 64.5%.

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the ordinary profit for the October to March period (second half) is expected to expand 32.5% from the same period last year, reaching 2.16 billion yen.

In the most recent three-month period, from July to September (2Q), the ordinary profit significantly dropped to 0.48 billion yen, a 60.8% decrease compared to the same period last year. The operating profit margin drastically worsened from 8.5% in the same period last year to 4.1%.

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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 27,424 1,099 1,098 717 82.2 58.8 Nov 10, 2023 J-GAAP
Apr - Sep, 2024 29,739 2,434 2,143 1,535 179.8 56.7 Nov 11, 2024 J-GAAP
Apr - Sep, 2025 31,229 1,247 1,131 831 97.4 34.3 Nov 10, 2025 J-GAAP
YoY +5.0% -48.8% -47.2% -45.9% -45.8%

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 30,600 1,600 1,600 1,100 128.8 45 May 9, 2025 J-GAAP
Apr - Sep, 2025 Results 31,229 1,247 1,131 831 97.4 45 Nov 10, 2025 J-GAAP
Revision Rate +2.1% -22.1% -29.3% -24.5% -24.4%

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 30,824 1,697 1,637 -4,823 -564.7 42 May 9, 2025 J-GAAP
Oct - Mar, 2025 Guidance 30,271 2,153 2,169 1,469 172.0 45 Nov 10, 2025 J-GAAP
YoY -1.8% +26.9% +32.5% － －

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2024 55,407 1,964 1,868 1,377 160.0 70 May 10, 2024 J-GAAP
Mar, 2025 60,563 4,131 3,780 -3,288 -385.0 82 May 9, 2025 J-GAAP
Mar, 2026 Guidance 61,500 3,400 3,300 2,300 269.4 90 May 9, 2025 J-GAAP
YoY +1.5% -17.7% -12.7% － －

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2024 15,117 1,284 1,234 903 105.7 8.5 Nov 11, 2024 J-GAAP
Oct - Dec, 2024 16,920 1,199 1,198 867 101.5 7.1 Feb 10, 2025 J-GAAP
Jan - Mar, 2025 13,904 498 439 -5,690 -666.2 3.6 May 9, 2025 J-GAAP
Apr - Jun, 2025 15,503 596 647 462 54.1 3.8 Aug 8, 2025 J-GAAP
Jul - Sep, 2025 15,726 651 484 369 43.3 4.1 Nov 10, 2025 J-GAAP
YoY +4.0% -49.3% -60.8% -59.1% -59.1%

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