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KURARAY, Ordinary Profit Forecast for the Fiscal Year Revised Downward by 23%

Wed Nov 12, 2025 1:00 pm JST Earnings

3405 KURARAY CO.,LTD. 【J-GAAP】

Earnings Report

KURARAY CO.,LTD. <3405> [TSE Prime] announced its financial results in the afternoon session on November 12th (13:00). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending December 2025 (January to September) dropped 43.0% from the same period last year to 40.0 billion yen.

In addition, the full-year forecast for consolidated ordinary profit has decreased 23.2%, from the previous forecast of 69.0 billion yen to 53.0 billion yen (compared to 81.4 billion yen in the previous period), leading to an increase in the profit decline rate from 15.3% to 35.0%.

Based on the full-year plan announced by the company after the downward revision, our estimate of the consolidated ordinary profit for the July to December period (second half) has decreased 33.5%, from the previous forecast of 47.7 billion yen to 31.7 billion yen (compared to 37.4 billion yen in the same period of the previous year). This changes the outlook from an anticipated profit increase to a projection of a 15.3% decrease in profit.

In the most recent three-month period, from July to September (3Q), the consolidated ordinary profit decreased to 18.8 billion yen, a 28.5% decrease compared to the same period last year. The operating profit margin decreased from 14.0% in the same period last year to 10.4%.

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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 574,374 61,702 57,753 36,487 109.0 83.7 Nov 9, 2023 J-GAAP
Jan - Sep, 2024 614,834 73,923 70,341 46,634 140.8 86.3 Nov 13, 2024 J-GAAP
Jan - Sep, 2025 593,424 46,358 40,089 22,784 71.4 75.6 Nov 12, 2025 J-GAAP
YoY -3.5% -37.3% -43.0% -51.1% -49.3%

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 440,042 48,739 47,716 18,961 61.8 27 Aug 8, 2025 J-GAAP
Jul - Dec, 2025 New 410,042 33,739 31,716 8,961 29.2 27 Nov 12, 2025 J-GAAP
Revision Rate -6.8% -30.8% -33.5% -52.7% -52.7%

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Dec, 2025 Prev 840,000 75,000 69,000 33,000 107.5 54 Aug 8, 2025 J-GAAP
Dec, 2025 New 810,000 60,000 53,000 23,000 74.9 54 Nov 12, 2025 J-GAAP
Revision Rate -3.6% -20.0% -23.2% -30.3% -30.3%

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 415,678 39,617 37,458 1,278 3.9 27 Feb 12, 2025 J-GAAP
Jul - Dec, 2025 Guidance 410,042 33,739 31,716 8,961 29.2 27 Nov 12, 2025 J-GAAP
YoY -1.4% -14.8% -15.3% +601.2% +652.3%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Dec, 2023 780,938 75,475 69,025 42,446 126.8 50 Feb 8, 2024 J-GAAP
Dec, 2024 826,895 85,081 81,480 31,724 96.3 54 Feb 12, 2025 J-GAAP
Dec, 2025 Guidance 810,000 60,000 53,000 23,000 74.9 54 Nov 12, 2025 J-GAAP
YoY -2.0% -29.5% -35.0% -27.5% -22.2%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2024 203,617 28,459 26,319 16,188 48.9 14.0 Nov 13, 2024 J-GAAP
Oct - Dec, 2024 212,061 11,158 11,139 -14,910 -45.3 5.3 Feb 12, 2025 J-GAAP
Jan - Mar, 2025 194,804 18,650 17,826 12,007 37.1 9.6 May 14, 2025 J-GAAP
Apr - Jun, 2025 205,154 7,611 3,458 2,032 6.3 3.7 Aug 8, 2025 J-GAAP
Jul - Sep, 2025 193,466 20,097 18,805 8,745 27.4 10.4 Nov 12, 2025 J-GAAP
YoY -5.0% -29.4% -28.5% -46.0% -44.0%

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