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Musashino Kogyo, Jul-Sep (2Q) Ordinary Profit Increases by 3.5 times

Wed Nov 12, 2025 4:00 pm JST Earnings

9635 Musashino Kogyo Co.,Ltd. 【J-GAAP】

Earnings Report

Musashino Kogyo Co.,Ltd. <9635> [TSE Std] announced its financial results after the market closed on November 12th (16:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2026 (April to September) increased 18.2% from the same period last year, reaching 26 million yen. Progress toward the full-year plan of 40 million yen was 65.0%, also surpassing the five-year average of 38.2%.

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 significant drop 78.5% from the same period last year to 14 million yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit surged 3.5 times that of the same period last year, reaching 14 million yen. However, the operating profit margin worsened from 1.5% in the same period last year to 0.9%.

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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 621 -2 -8 -13 -12.6 ー Nov 9, 2023 J-GAAP
Apr - Sep, 2024 657 21 22 19 18.7 25.3 Nov 12, 2024 J-GAAP
Apr - Sep, 2025 632 7 26 326 312.3 65.0 Nov 12, 2025 J-GAAP
YoY -3.8% -66.7% +18.2% +1,615.8% +1,568.4%

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 632 7 26 326 312.3 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 707 48 65 45 43.7 0 May 14, 2025 J-GAAP
Oct - Mar, 2025 Guidance 623 5 14 14 13.4 0 Nov 12, 2025 J-GAAP
YoY -11.9% -89.6% -78.5% -68.9% -69.4%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2024 1,282 20 18 4 4.5 0 May 14, 2024 J-GAAP
Mar, 2025 1,364 69 87 64 62.1 0 May 14, 2025 J-GAAP
Mar, 2026 Guidance 1,255 12 40 340 325.0 0 Aug 28, 2025 J-GAAP
YoY -8.0% -82.6% -54.0% +431.3% +423.4%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2024 341 5 4 1 1.0 1.5 Nov 12, 2024 J-GAAP
Oct - Dec, 2024 349 21 25 20 19.2 6.0 Feb 12, 2025 J-GAAP
Jan - Mar, 2025 358 27 40 25 24.3 7.5 May 14, 2025 J-GAAP
Apr - Jun, 2025 303 4 12 11 10.9 1.3 Aug 7, 2025 J-GAAP
Jul - Sep, 2025 329 3 14 315 301.8 0.9 Nov 12, 2025 J-GAAP
YoY -3.5% -40.0% +250.0% +31,400.0% +30,382.8%

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