HEPHAIST, Ordinary Profit Forecast for the Fiscal Year Revised Downward to a Loss, Dividend Dividend Also Turns into No Dividend

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Wed Nov 12, 2025 3:00 pm JST Earnings

6433 HEPHAIST Co., Ltd. 【J-GAAP】

Earnings Report

HEPHAIST Co., Ltd. <6433> [TSE Std] announced its financial results in the afternoon session on November 12th (15:00). The consolidated ordinary loss for the cumulative second quarter of the fiscal year ending March 2026 (April to September) expanded to a loss of 176 million yen (compared to a loss of 74 million yen in the same period last year), further increasing the deficit beyond the forecast of a loss of 13 million yen.

In addition, the full-year forecast for consolidated ordinary profit/loss has been revised downward from an expected profit of 57 million yen to a loss of 295 million yen (compared to a loss of 189 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 nearly flat at loss of 119 million yen (compared to a loss of 115 million yen in the same period last year).

Due to a decline in performance, the plan to pay a year-end lump-sum dividend of 2 yen has been abandoned, and the policy has been set to forego dividends for the first time in six terms, falling to a no-dividend status (compared to 1 yen in the prior term).

In the most recent three-month period, from July to September (2Q), the consolidated ordinary loss expanded to a loss of 118 million yen (compared to a loss of 22 million yen in the same period last year). The operating profit/loss margin drastically worsened from -3.6% in the same period last year to -24.3%.

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	1,126	-96	-92	-64	-10.2	ー	Nov 10, 2023	J-GAAP
Apr - Sep, 2024	1,076	-74	-74	-58	-9.4	ー	Nov 12, 2024	J-GAAP
Apr - Sep, 2025	846	-142	-176	-219	-35.3	ー	Nov 12, 2025	J-GAAP
YoY	-21.4%	-91.9%	-137.8%	-277.6%	-275.9%

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	1,126	-8	-13	-8	-1.3	0	May 15, 2025	J-GAAP
Apr - Sep, 2025 Results	846	-142	-176	-219	-35.3	0	Nov 12, 2025	J-GAAP
Revision Rate	-24.9%	-1,675.0%	-1,253.8%	-2,637.5%	-2,654.7%

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2026 Prev	2,486	68	57	34	5.5	2	May 15, 2025	J-GAAP
Mar, 2026 New	1,603	-216	-295	-340	-54.5	0	Nov 12, 2025	J-GAAP
Revision Rate	-35.5%	－	－	－	－

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	1,169	-47	-115	-145	-23.3	1	May 15, 2025	J-GAAP
Oct - Mar, 2025 Guidance	757	-74	-119	-121	-19.4	0	Nov 12, 2025	J-GAAP
YoY	-35.2%	-57.4%	-3.5%	+16.6%	+16.7%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2024	2,310	-158	-156	-221	-35.4	1	May 15, 2024	J-GAAP
Mar, 2025	2,245	-121	-189	-203	-32.6	1	May 15, 2025	J-GAAP
Mar, 2026 Guidance	1,603	-216	-295	-340	-54.5	0	Nov 12, 2025	J-GAAP
YoY	-28.6%	-78.5%	-56.1%	-67.5%	-67.1%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2024	556	-20	-22	-20	-3.2	-3.6	Nov 12, 2024	J-GAAP
Oct - Dec, 2024	649	24	18	9	1.5	3.7	Feb 12, 2025	J-GAAP
Jan - Mar, 2025	520	-71	-133	-154	-24.8	-13.7	May 15, 2025	J-GAAP
Apr - Jun, 2025	464	-49	-58	-45	-7.3	-10.6	Aug 8, 2025	J-GAAP
Jul - Sep, 2025	382	-93	-118	-174	-28.0	-24.3	Nov 12, 2025	J-GAAP
YoY	-31.3%	-365.0%	-436.4%	-770.0%	-767.2%