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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%.

Kabutan News

Actual Performance and Financial Trends

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
621M -2M -8M -13M -12.6 Nov 9, 2023 J-GAAP
Apr - Sep, 2024
657M 21M 22M 19M 18.7 25.3% Nov 12, 2024 J-GAAP
Apr - Sep, 2025
632M 7M 26M 326M 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 0 May 14, 2025 J-GAAP
Apr - Sep, 2025 Results 632M 7M 26M 326M 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
707M 48M 65M 45M 43.7 0 May 14, 2025 J-GAAP
Guidance
Oct - Mar, 2025
623M 5M 14M 14M 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
1,282M 20M 18M 4M 4.5 0 May 14, 2024 J-GAAP
Mar, 2025
1,364M 69M 87M 64M 62.1 0 May 14, 2025 J-GAAP
Guidance
Mar, 2026
1,255M 12M 40M 340M 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
341M 5M 4M 1M 1.0 1.5% Nov 12, 2024 J-GAAP
Oct - Dec, 2024
349M 21M 25M 20M 19.2 6.0% Feb 12, 2025 J-GAAP
Jan - Mar, 2025
358M 27M 40M 25M 24.3 7.5% May 14, 2025 J-GAAP
Apr - Jun, 2025
303M 4M 12M 11M 10.9 1.3% Aug 7, 2025 J-GAAP
Jul - Sep, 2025
329M 3M 14M 315M 301.8 0.9% Nov 12, 2025 J-GAAP
YoY -3.5% -40.0% +250.0% +31,400.0% +30,382.8%