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MATSUO ELECTRIC, Net Income Forecast for the Fiscal Year Revised Downward to an Unexpected 13% Decrease

Thu Nov 13, 2025 3:00 pm JST Earnings

6969 MATSUO ELECTRIC CO.,LTD. 【J-GAAP】

Earnings Report

MATSUO ELECTRIC CO.,LTD. <6969> [TSE Std] announced its financial results in the afternoon session on November 13th (15:00). The net income (non-consolidated) for the cumulative second quarter of the fiscal year ending March 2026 (April to September) surged 2.9 times that of the same period last year, reaching 227 million yen.

However, the full-year forecast for net income has decreased 28.7%, from the previous forecast of 550 million yen to 392 million yen (compared to 449 million yen in the previous period). This changes the outlook from an anticipated profit increase to a projection of a 12.7% decrease in profit.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the net income for the October to March period (second half) is expected to significant drop 55.4% from the same period last year to 165 million yen.

In the most recent three-month period, from July to September (2Q), the net income surged 5.2 times that of the same period last year, reaching 99 million yen. The operating profit margin improved from 7.3% in the same period last year to 8.7%.

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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 2,142 199 175 93 29.0 79.5 Nov 13, 2023 J-GAAP
Apr - Sep, 2024 2,146 167 152 79 24.7 33.0 Nov 12, 2024 J-GAAP
Apr - Sep, 2025 2,497 272 261 227 71.1 44.2 Nov 13, 2025 J-GAAP
YoY +16.4% +62.9% +71.7% +187.3% +187.9%

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 2,300 240 220 200 62.4 － May 14, 2025 J-GAAP
Apr - Sep, 2025 Results 2,497 272 261 227 71.1 － Nov 13, 2025 J-GAAP
Revision Rate +8.6% +13.3% +18.6% +13.5% +14.0%

Guidance Update

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2026 Prev 5,000 620 590 550 171.5 0 May 14, 2025 J-GAAP
Mar, 2026 New 5,000 620 590 392 122.2 0 Nov 13, 2025 J-GAAP
Revision Rate 0.0% 0.0% 0.0% -28.7% -28.7%

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 2,399 324 308 370 115.6 0 May 14, 2025 J-GAAP
Oct - Mar, 2025 Guidance 2,503 348 329 165 51.5 0 Nov 13, 2025 J-GAAP
YoY +4.3% +7.4% +6.8% -55.4% -55.5%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2024 4,209 254 220 28 9.0 0 May 15, 2024 J-GAAP
Mar, 2025 4,545 491 460 449 140.3 0 May 14, 2025 J-GAAP
Mar, 2026 Guidance 5,000 620 590 392 122.2 0 Nov 13, 2025 J-GAAP
YoY +10.0% +26.3% +28.3% -12.7% -12.9%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2024 1,106 81 73 19 5.9 7.3 Nov 12, 2024 J-GAAP
Oct - Dec, 2024 1,254 188 180 166 51.8 15.0 Feb 12, 2025 J-GAAP
Jan - Mar, 2025 1,145 136 128 204 63.7 11.9 May 14, 2025 J-GAAP
Apr - Jun, 2025 1,272 166 161 128 40.1 13.1 Aug 12, 2025 J-GAAP
Jul - Sep, 2025 1,225 106 100 99 31.0 8.7 Nov 13, 2025 J-GAAP
YoY +10.8% +30.9% +37.0% +421.1% +421.9%

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