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MARUSHO HOTTA, Ordinary Profit Forecast for the Fiscal Year Revised Downward to a Loss

Mon Nov 10, 2025 3:30 pm JST Earnings

8105 Bitcoin Japan Corporation 【J-GAAP】

Earnings Report

MARUSHO HOTTA CO.,LTD. <8105> [TSE Std] announced its financial results after the market closed on November 10th (15:30). The consolidated ordinary loss for the cumulative second quarter of the fiscal year ending March 2026 (April to September) expanded to a loss of 188 million yen (compared to a loss of 158 million yen in the same period last year).

In addition, the full-year forecast for consolidated ordinary profit/loss has been revised downward from an expected profit of 40 million yen to a loss of 190 million yen (compared to a loss of 300 million yen in the previous period), turning to a loss outlook.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the consolidated ordinary loss for the October to March period (second half) is expected to further decrease loss of 2 million yen (compared to a loss of 142 million yen in the same period last year).

In the most recent three-month period, from July to September (2Q), the consolidated ordinary loss expanded to a loss of 117 million yen (compared to a loss of 105 million yen in the same period last year). However, the operating profit/loss margin improved from -14.9% in the same period last year to -14.3%.

Kabutan News

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 1,907 -107 -79 -46 -0.8 ー Nov 14, 2023 J-GAAP
Apr - Sep, 2024 1,530 -186 -158 -163 -2.9 ー Nov 14, 2024 J-GAAP
Apr - Sep, 2025 1,452 -193 -188 -240 -4.3 ー Nov 10, 2025 J-GAAP
YoY -5.1% -3.8% -19.0% -47.2% -46.7%

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 15, 2025 J-GAAP
Apr - Sep, 2025 Results 1,452 -193 -188 -240 -4.3 0 Nov 10, 2025 J-GAAP
Revision Rate － － － － －

Guidance Update

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2026 Prev 3,600 2 40 30 0.5 － May 15, 2025 J-GAAP
Mar, 2026 New 3,200 -200 -190 -230 -4.1 － Nov 10, 2025 J-GAAP
Revision Rate -11.1% － － － －

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 1,568 -169 -142 -244 -4.3 0 May 15, 2025 J-GAAP
Oct - Mar, 2025 Guidance 1,748 -7 -2 10 0.2 － Nov 10, 2025 J-GAAP
YoY +11.5% +95.9% +98.6% － －

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2024 3,693 -190 -130 19 0.4 0 May 15, 2024 J-GAAP
Mar, 2025 3,098 -355 -300 -407 -7.2 0 May 15, 2025 J-GAAP
Mar, 2026 Guidance 3,200 -200 -190 -230 -4.1 － Nov 10, 2025 J-GAAP
YoY +3.3% +43.7% +36.7% +43.5% +43.5%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2024 746 -111 -105 -107 -1.9 -14.9 Nov 14, 2024 J-GAAP
Oct - Dec, 2024 840 -63 -45 -47 -0.8 -7.5 Feb 14, 2025 J-GAAP
Jan - Mar, 2025 728 -106 -97 -197 -3.5 -14.6 May 15, 2025 J-GAAP
Apr - Jun, 2025 731 -90 -71 -73 -1.3 -12.3 Aug 14, 2025 J-GAAP
Jul - Sep, 2025 721 -103 -117 -167 -3.0 -14.3 Nov 10, 2025 J-GAAP
YoY -3.4% +7.2% -11.4% -56.1% -55.5%

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