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Forval RealStraight, First Half Ordinary Profit Decreases by 67%

Thu Nov 13, 2025 11:30 am JST Earnings

9423 Forval RealStraight Inc. 【J-GAAP】

Earnings Report

Forval RealStraight Inc. <9423> [TSE Std] announced its financial results at noon (11:30) on November 13th. The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2026 (April to September) significantly dropped 67.0% from the previous period non-consolidated to 30 million yen. Progress toward the full-year plan of 180 million yen was 16.7%, also falling below the five-year average of 58.0%.

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 surge 4.3 times that of the previous period non-consolidated to 150 million yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit surged 3.2 times that of the same period last year, reaching 68 million yen. The operating profit margin significantly improved from 2.6% in the same period last year to 5.6%.

Note: Since the current fiscal year, the company has transitioned to consolidated financial statements.

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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 1,605 118 118 77 3.2 69.4 Nov 10, 2023 J-GAAP
Apr - Sep, 2024 1,759 91 91 54 2.2 72.2 Nov 14, 2024 J-GAAP
Apr - Sep, 2025 2,218 29 30 30 1.3 16.7 Nov 13, 2025 J-GAAP
YoY +26.1% -68.1% -67.0% -44.4% -44.2%

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 2,218 29 30 30 1.3 0 Nov 13, 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 1,380 35 35 32 1.3 2.60 May 14, 2025 J-GAAP
Oct - Mar, 2025 Guidance 2,782 151 150 80 3.3 2.80 Nov 13, 2025 J-GAAP
YoY +101.6% +331.4% +328.6% +150.0% +148.1%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2024 3,066 169 170 130 5.4 2.40 May 13, 2024 J-GAAP
Mar, 2025 3,139 126 126 86 3.6 2.60 May 14, 2025 J-GAAP
Mar, 2026 Guidance 5,000 180 180 110 4.5 2.80 May 14, 2025 J-GAAP
YoY +59.3% +42.9% +42.9% +27.9% +27.2%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2024 811 21 21 13 0.5 2.6 Nov 14, 2024 J-GAAP
Oct - Dec, 2024 683 10 10 14 0.6 1.5 Feb 14, 2025 J-GAAP
Jan - Mar, 2025 697 25 25 18 0.8 3.6 May 14, 2025 J-GAAP
Apr - Jun, 2025 1,025 -38 -38 -18 -0.8 -3.7 Aug 8, 2025 J-GAAP
Jul - Sep, 2025 1,193 67 68 48 2.0 5.6 Nov 13, 2025 J-GAAP
YoY +47.1% +219.0% +223.8% +269.2% +270.4%

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