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NICHIBAN, First Half Ordinary Profit Revised Downward to an Unexpected 14%Decrease

Tue Nov 11, 2025 2:00 pm JST Earnings

4218 NICHIBAN CO., LTD. 【J-GAAP】

Earnings Report

NICHIBAN CO., LTD. <4218> [TSE Prime] announced its financial results in the afternoon session on November 11th (14:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2026 (April to September) decreased 14.3% from the same period last year to 1.05 billion yen, resulting in a decrease in profits compared to the previous forecast of a 14.1% increase.

Progress toward the full-year plan of 3.10 billion yen was 33.9%, also falling below the five-year average of 40.9%.

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 expand 40.9% from the same period last year, reaching 2.04 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit dropped to 0.37 billion yen, a 41.4% decrease compared to the same period last year. The operating profit margin worsened from 5.4% in the same period last year to 3.1%.

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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 22,458 529 637 432 21.0 28.9 Nov 8, 2023 J-GAAP
Apr - Sep, 2024 23,759 1,174 1,227 809 39.8 45.8 Nov 8, 2024 J-GAAP
Apr - Sep, 2025 24,150 1,025 1,051 656 32.2 33.9 Nov 11, 2025 J-GAAP
YoY +1.6% -12.7% -14.3% -18.9% -19.0%

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 25,400 1,300 1,400 900 44.2 0 May 9, 2025 J-GAAP
Apr - Sep, 2025 Results 24,150 1,025 1,051 656 32.2 0 Nov 11, 2025 J-GAAP
Revision Rate -4.9% -21.2% -24.9% -27.1% -27.1%

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 25,698 1,412 1,454 1,150 56.5 35 May 9, 2025 J-GAAP
Oct - Mar, 2025 Guidance 27,350 1,975 2,049 1,344 66.0 40 Nov 11, 2025 J-GAAP
YoY +6.4% +39.9% +40.9% +16.9% +16.8%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2024 46,859 2,073 2,201 1,827 89.0 35 May 13, 2024 J-GAAP
Mar, 2025 49,457 2,586 2,681 1,959 96.3 35 May 9, 2025 J-GAAP
Mar, 2026 Guidance 51,500 3,000 3,100 2,000 98.2 40 May 9, 2025 J-GAAP
YoY +4.1% +16.0% +15.6% +2.1% +2.1%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2024 12,235 660 640 476 23.4 5.4 Nov 8, 2024 J-GAAP
Oct - Dec, 2024 13,625 1,177 1,200 862 42.4 8.6 Feb 10, 2025 J-GAAP
Jan - Mar, 2025 12,073 235 254 288 14.2 1.9 May 9, 2025 J-GAAP
Apr - Jun, 2025 11,923 651 676 393 19.3 5.5 Aug 8, 2025 J-GAAP
Jul - Sep, 2025 12,227 374 375 263 12.9 3.1 Nov 11, 2025 J-GAAP
YoY -0.1% -43.3% -41.4% -44.7% -44.8%

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