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Mori-Gumi, First Half Ordinary Profit Decreases by 17%, Jul-Sep Ordinary Profit Turns to Loss

Wed Nov 12, 2025 3:00 pm JST Earnings

1853 Mori-Gumi Co.,Ltd. 【J-GAAP】

Earnings Report

Mori-Gumi Co.,Ltd. <1853> [TSE Std] announced its financial results in the afternoon session on November 12th (15:00). The ordinary profit (non-consolidated) for the cumulative second quarter of the fiscal year ending March 2026 (April to September) decreased 17.1% from the same period last year to 0.26 billion yen. Progress toward the full-year plan of 1.02 billion yen was 25.7%, also falling below the five-year average of 28.8%.

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 grow 3.8% from the same period last year, reaching 0.75 billion yen.

In the most recent three-month period, from July to September (2Q), the ordinary profit/loss turned to a loss of 0.03 billion yen (compared to a profit of 0.21 billion yen in the same period last year). The operating profit/loss margin drastically worsened from 3.3% in the same period last year to -0.5%.

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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 13,254 557 515 339 10.4 49.9 Nov 8, 2023 J-GAAP
Apr - Sep, 2024 15,353 346 316 204 6.2 30.2 Nov 13, 2024 J-GAAP
Apr - Sep, 2025 13,383 259 262 166 5.1 25.7 Nov 12, 2025 J-GAAP
YoY -12.8% -25.1% -17.1% -18.6% -18.3%

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 － － May 14, 2025 J-GAAP
Apr - Sep, 2025 Results 13,383 259 262 166 5.1 － Nov 12, 2025 J-GAAP
Revision Rate － － － － －

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 14,101 735 730 717 21.9 14 May 14, 2025 J-GAAP
Oct - Mar, 2025 Guidance 15,417 761 758 514 15.7 14 Nov 12, 2025 J-GAAP
YoY +9.3% +3.5% +3.8% -28.3% -28.4%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2024 27,582 1,072 1,033 685 20.9 14 May 14, 2024 J-GAAP
Mar, 2025 29,454 1,081 1,046 921 28.1 14 May 14, 2025 J-GAAP
Mar, 2026 Guidance 28,800 1,020 1,020 680 20.8 14 May 14, 2025 J-GAAP
YoY -2.2% -5.6% -2.5% -26.2% -26.2%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2024 7,499 244 217 143 4.4 3.3 Nov 13, 2024 J-GAAP
Oct - Dec, 2024 7,088 448 455 308 9.4 6.3 Feb 13, 2025 J-GAAP
Jan - Mar, 2025 7,013 287 275 409 12.5 4.1 May 14, 2025 J-GAAP
Apr - Jun, 2025 6,734 293 298 197 6.0 4.4 Aug 8, 2025 J-GAAP
Jul - Sep, 2025 6,649 -34 -36 -31 -1.0 -0.5 Nov 12, 2025 J-GAAP
YoY -11.3% － － － －

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