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WACOAL, Net Income Forecast for the Fiscal Year Revised Downward by 18%

Wed Nov 12, 2025 4:00 pm JST Earnings

3591 WACOAL HOLDINGS CORP. 【IFRS】

Earnings Report

WACOAL HOLDINGS CORP. <3591> [TSE Prime] announced its financial results (based on IFRS) after the market closed on November 12th (16:00). The consolidated net income for the cumulative second quarter of the fiscal year ending March 2026 (April to September) expanded 12.4 billion yen, an increase 41.5% compared to the same period last year.

However, the full-year forecast for consolidated net income has decreased 18.0%, from the previous forecast of 14.8 billion yen to 12.2 billion yen (compared to 6.98 billion yen in the previous period), leading to a reduction in the profit growth rate from 2.1 times to 74.6%.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the consolidated net loss for the October to March period (second half) is expected to further decrease loss of 0.21 billion yen (compared to a loss of 1.78 billion yen in the same period last year).

In the most recent three-month period, from July to September (2Q), the consolidated net income/loss turned to a loss of 1.24 billion yen (compared to a profit of 5.73 billion yen in the same period last year). The operating profit margin sharply declined from 19.1% in the same period last year to 4.2%.

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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 95,130 -3,384 -2,739 -4,404 -76.1 ー Nov 9, 2023 IFRS
Apr - Sep, 2024 90,167 11,551 12,815 8,773 159.7 225.6 Nov 11, 2024 IFRS
Apr - Sep, 2025 87,511 21,541 20,166 12,418 244.0 103.9 Nov 12, 2025 IFRS
YoY -2.9% +86.5% +57.4% +41.5% +52.8%

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 87,000 21,000 20,000 12,000 240.9 50 Oct 30, 2025 IFRS
Apr - Sep, 2025 Results 87,511 21,541 20,166 12,418 244.0 50 Nov 12, 2025 IFRS
Revision Rate +0.6% +2.6% +0.8% +3.5% +1.3%

Guidance Update

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2026 Prev 187,500 22,800 22,600 14,870 301.2 100 May 15, 2025 IFRS
Mar, 2026 New 173,800 20,200 19,400 12,200 247.1 100 Nov 12, 2025 IFRS
Revision Rate -7.3% -11.4% -14.2% -18.0% -18.0%

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 83,729 -8,263 -7,135 -1,555 -28.9 50 May 15, 2025 IFRS
Oct - Mar, 2025 Guidance 86,289 -1,341 -766 -218 -4.4 50 Nov 12, 2025 IFRS
YoY +3.1% +83.8% +89.3% +86.0% +84.7%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2024 187,208 -9,503 -8,290 -8,632 -151.6 100 May 15, 2024 IFRS
Mar, 2025 173,896 3,288 5,680 7,218 133.9 100 May 15, 2025 IFRS
Mar, 2026 Guidance 173,800 20,200 19,400 12,200 247.1 100 Nov 12, 2025 IFRS
YoY -0.1% +514.4% +241.5% +69.0% +84.5%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2024 43,705 8,345 8,547 5,735 104.4 19.1 Nov 11, 2024 IFRS
Oct - Dec, 2024 43,367 -476 302 313 5.8 -1.1 Feb 10, 2025 IFRS
Jan - Mar, 2025 40,362 -7,787 -7,437 -1,868 -34.7 -19.3 May 15, 2025 IFRS
Apr - Jun, 2025 44,956 19,756 20,086 13,663 265.4 43.9 Aug 12, 2025 IFRS
Jul - Sep, 2025 42,555 1,785 80 -1,245 -24.5 4.2 Nov 12, 2025 IFRS
YoY -2.6% -78.6% -99.1% － －

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