MODEC, Net Income Forecast for the Fiscal Year Revised Upward by 22%, Raises Record High Profit Forecast, Dividend Revised Upward by 20 Yen

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Wed Nov 12, 2025 12:30 pm JST Earnings

6269 MODEC,INC. 【IFRS】

Earnings Report

MODEC,INC. <6269> [TSE Prime] announced its financial results (based on IFRS) at noon (12:30) on November 12th. The consolidated net income for the cumulative third quarter of the fiscal year ending December 2025 (January to September) expanded 36.5 billion yen, an increase 49.6% compared to the same period last year.

In addition, the full-year forecast for consolidated net income has been revised upward 22.0%, from the previous forecast of 42.7 billion yen to 52.0 billion yen (compared to 34.8 billion yen in the previous period), increasing the growth rate from 22.5% to 49.4%, further surpassing the previous forecast of record-high profits for two consecutive terms.

Based on the full-year plan announced by the company after the upward revision, our estimate of the consolidated net income for the July to December period (second half) is expected to increase 43.3%, from the previous forecast of 21.6 billion yen to 31.0 billion yen (compared to 14.8 billion yen in the same period of the previous year), increasing the growth rate from 45.7% to 2.1 times.

In light of the strong performance, the company has increased its planned annual dividend for the current fiscal year from the original plan of 120 yen to 140 yen (compared to 80 yen in the previous period).

In the most recent three-month period, from July to September (3Q), the consolidated net income surged 3.5 times that of the same period last year, reaching 15.5 billion yen. The operating profit margin drastically improved from 5.1% in the same period last year to 10.3%.

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Actual Results

Accumulated Results 3rd Quarter

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Progress Rate vs. First Half	Announce	Accounting Standards
Jan - Sep, 2023	371,801	13,213	14,099	5,370	88.9	46.3	Nov 9, 2023	IFRS
Jan - Sep, 2024	427,705	36,485	35,722	24,424	357.6	73.3	Nov 12, 2024	IFRS
Jan - Sep, 2025	498,767	45,429	51,046	36,536	534.7	68.6	Nov 12, 2025	IFRS
YoY	+16.6%	+24.5%	+42.9%	+49.6%	+49.6%

Guidance Update

Second Half Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Jul - Dec, 2025 Prev	284,777	39,906	37,964	21,692	317.4	60	Aug 7, 2025	IFRS
Jul - Dec, 2025 New	354,386	40,541	45,946	31,075	454.7	80	Nov 12, 2025	IFRS
Revision Rate	+24.4%	+1.6%	+21.0%	+43.3%	+43.3%

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Dec, 2025 Prev	585,155	64,841	66,423	42,700	624.8	120	Feb 13, 2025	IFRS
Dec, 2025 New	654,764	65,476	74,405	52,083	762.1	140	Nov 12, 2025	IFRS
Revision Rate	+11.9%	+1.0%	+12.0%	+22.0%	+22.0%

Current Period Guidance

Second Half Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Jul - Dec, 2024	359,715	21,000	19,429	14,887	217.9	50	Feb 13, 2025	IFRS
Jul - Dec, 2025 Guidance	354,386	40,541	45,946	31,075	454.7	80	Nov 12, 2025	IFRS
YoY	-1.5%	+93.1%	+136.5%	+108.7%	+108.6%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Dec, 2023	507,031	27,364	30,446	13,691	219.4	20	Feb 14, 2024	IFRS
Dec, 2024	662,088	51,066	48,706	34,857	510.3	80	Feb 13, 2025	IFRS
Dec, 2025 Guidance	654,764	65,476	74,405	52,083	762.1	140	Nov 12, 2025	IFRS
YoY	-1.1%	+28.2%	+52.8%	+49.4%	+49.3%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2024	125,332	6,419	6,445	4,454	65.2	5.1	Nov 12, 2024	IFRS
Oct - Dec, 2024	234,383	14,581	12,984	10,433	152.7	6.2	Feb 13, 2025	IFRS
Jan - Mar, 2025	130,545	11,244	10,762	8,319	121.8	8.6	May 13, 2025	IFRS
Apr - Jun, 2025	169,833	13,691	17,697	12,689	185.7	8.1	Aug 7, 2025	IFRS
Jul - Sep, 2025	198,389	20,494	22,587	15,528	227.3	10.3	Nov 12, 2025	IFRS
YoY	+58.3%	+219.3%	+250.5%	+248.6%	+248.5%