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TSUGAMI, Net Income Forecast for the Fiscal Year Revised Upward to an Unexpected 15% Increase, Raises Record High Profit, Dividend Revised Upward by 4 Yen

Thu Nov 13, 2025 1:00 pm JST Earnings

6101 TSUGAMI CORPORATION 【IFRS】

Earnings Report

TSUGAMI CORPORATION <6101> [TSE Prime] announced its financial results (based on IFRS) in the afternoon session on November 13th (13:00). The consolidated net income for the cumulative second quarter of the fiscal year ending March 2026 (April to September) expanded 7.14 billion yen, an increase 48.5% compared to the same period last year.

In addition, the full-year forecast for consolidated net income has been revised upward 45.3%, from the previous forecast of 8.60 billion yen to 12.5 billion yen (compared to 10.9 billion yen in the previous period), record profits reach two consecutive terms, turning to a 14.7% increase in the consolidated net income outlook.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the consolidated net income for the October to March period (second half) is expected to decrease 12.0% from the same period last year to 5.35 billion yen.

In light of the strong performance, the company has increased its planned annual dividend for the current fiscal year from the original plan of 68 yen to 72 yen (compared to 59 yen in the previous period).

In the most recent three-month period, from July to September (2Q), the consolidated net income increased 39.1% from the same period last year, reaching 2.93 billion yen. The operating profit margin jumped from 17.2% in the same period last year to 23.1%.

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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 40,294 5,941 6,458 2,191 45.7 46.8 Nov 10, 2023 IFRS
Apr - Sep, 2024 49,795 9,916 9,856 4,813 102.0 41.6 Nov 13, 2024 IFRS
Apr - Sep, 2025 60,054 15,208 14,935 7,145 153.4 ー Nov 13, 2025 IFRS
YoY +20.6% +53.4% +51.5% +48.5% +50.5%

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 60,050 15,200 ー 7,140 152.1 36 Oct 17, 2025 IFRS
Apr - Sep, 2025 Results 60,054 15,208 14,935 7,145 153.4 36 Nov 13, 2025 IFRS
Revision Rate +0.0% +0.1% － +0.1% +0.8%

Guidance Update

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2026 Prev 104,000 19,500 ー 8,600 183.9 68 Oct 17, 2025 IFRS
Mar, 2026 New 115,000 27,000 ー 12,500 267.3 72 Nov 13, 2025 IFRS
Revision Rate +10.6% +38.5% － +45.3% +45.4%

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 57,616 13,393 13,853 6,088 129.3 32 May 13, 2025 IFRS
Oct - Mar, 2025 Guidance 54,946 11,792 ー 5,355 114.5 36 Nov 13, 2025 IFRS
YoY -4.6% -12.0% － -12.0% -11.4%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2024 83,928 13,095 13,795 5,376 112.6 48 May 14, 2024 IFRS
Mar, 2025 107,411 23,309 23,709 10,901 231.6 59 May 13, 2025 IFRS
Mar, 2026 Guidance 115,000 27,000 ー 12,500 267.3 72 Nov 13, 2025 IFRS
YoY +7.1% +15.8% － +14.7% +15.5%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2024 24,064 4,127 3,793 2,108 44.7 17.2 Nov 13, 2024 IFRS
Oct - Dec, 2024 25,094 5,783 6,313 2,951 62.6 23.0 Jan 30, 2025 IFRS
Jan - Mar, 2025 32,522 7,610 7,540 3,137 66.6 23.4 May 13, 2025 IFRS
Apr - Jun, 2025 31,787 8,678 8,547 4,212 90.1 27.3 Jul 30, 2025 IFRS
Jul - Sep, 2025 28,267 6,530 6,388 2,933 63.0 23.1 Nov 13, 2025 IFRS
YoY +17.5% +58.2% +68.4% +39.1% +41.0%

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