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SHOEI, First Half Ordinary Profit Turns to Profit

Wed Nov 12, 2025 4:00 pm JST Earnings

9385 SHOEI CORPORATION 【J-GAAP】

Earnings Report

SHOEI CORPORATION <9385> [TSE Std] announced its financial results after the market closed on November 12th (16:00). The consolidated ordinary profit/loss for the cumulative second quarter of the fiscal year ending March 2026 (April to September) turned into a profit of 0.61 billion yen (compared to a loss of 0.39 billion yen in the same period last year). However, Progress toward the full-year plan of 1.33 billion yen was 45.8%, also falling below the five-year average of 83.8%.

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 drop 36.8% from the same period last year to 0.72 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit/loss turned to a profit of 0.34 billion yen (compared to a loss of 0.61 billion yen in the same period last year). The operating profit margin improved from 4.9% in the same period last year to 7.6%.

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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 9,733 333 990 947 122.6 68.6 Nov 10, 2023 J-GAAP
Apr - Sep, 2024 9,612 450 -396 -455 -58.9 ー Nov 12, 2024 J-GAAP
Apr - Sep, 2025 9,322 610 610 396 51.3 45.8 Nov 12, 2025 J-GAAP
YoY -3.0% +35.6% － － －

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 － 0 May 14, 2025 J-GAAP
Apr - Sep, 2025 Results 9,322 610 610 396 51.3 0 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 9,419 297 1,143 922 119.4 20 May 14, 2025 J-GAAP
Oct - Mar, 2025 Guidance 11,223 791 722 504 65.2 20 Nov 12, 2025 J-GAAP
YoY +19.2% +166.3% -36.8% -45.3% -45.4%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2024 19,446 776 1,443 1,009 130.6 20 May 14, 2024 J-GAAP
Mar, 2025 19,031 747 747 467 60.5 20 May 14, 2025 J-GAAP
Mar, 2026 Guidance 20,545 1,401 1,332 900 116.5 20 May 14, 2025 J-GAAP
YoY +8.0% +87.6% +78.3% +92.7% +92.6%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2024 4,863 239 -615 -587 -76.0 4.9 Nov 12, 2024 J-GAAP
Oct - Dec, 2024 4,779 235 1,030 841 108.9 4.9 Feb 12, 2025 J-GAAP
Jan - Mar, 2025 4,640 62 113 81 10.5 1.3 May 14, 2025 J-GAAP
Apr - Jun, 2025 4,650 254 266 168 21.8 5.5 Aug 8, 2025 J-GAAP
Jul - Sep, 2025 4,672 356 344 228 29.5 7.6 Nov 12, 2025 J-GAAP
YoY -3.9% +49.0% － － －

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