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Iceco, First Half Ordinary Profit Increases by 21%, Exceeds Full-Year Plan

Thu Nov 13, 2025 3:30 pm JST Earnings

7698 Iceco Inc. 【J-GAAP】

Earnings Report

Iceco Inc. <7698> [TSE Std] announced its financial results after the market closed on November 13th (15:30). The ordinary profit (non-consolidated) for the cumulative second quarter of the fiscal year ending March 2026 (April to September) increased 20.6% from the same period last year, reaching 708 million yen. Progress toward the full-year plan of 691 million yen is 102.5%, but it was lower than the five-year average of 130.1%.

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the ordinary profit/loss for the October to March period (second half) is expected to turn into a loss of 17 million yen (compared to a profit of 104 million yen in the same period last year).

In the most recent three-month period, from July to September (2Q), the ordinary profit increased 34.6% from the same period last year, reaching 440 million yen. The operating profit margin improved from 2.0% in the same period last year to 2.7%.

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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 26,664 584 615 397 103.1 123.7 Nov 13, 2023 J-GAAP
Apr - Sep, 2024 29,120 551 587 382 98.2 84.9 Nov 13, 2024 J-GAAP
Apr - Sep, 2025 30,776 704 708 448 114.8 102.5 Nov 13, 2025 J-GAAP
YoY +5.7% +27.8% +20.6% +17.3% +16.9%

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 ー ー ー ー － 10 May 13, 2025 J-GAAP
Apr - Sep, 2025 Results 30,776 704 708 448 114.8 10 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 25,597 76 104 99 25.4 10 May 13, 2025 J-GAAP
Oct - Mar, 2025 Guidance 26,224 -48 -17 -3 -0.8 10 Nov 13, 2025 J-GAAP
YoY +2.4% － － － －

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2024 50,498 452 497 318 82.3 19 May 13, 2024 J-GAAP
Mar, 2025 54,717 627 691 481 123.5 19.50 May 13, 2025 J-GAAP
Mar, 2026 Guidance 57,000 656 691 445 113.6 20 May 13, 2025 J-GAAP
YoY +4.2% +4.6% 0.0% -7.5% -8.0%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2024 15,472 310 327 213 54.8 2.0 Nov 13, 2024 J-GAAP
Oct - Dec, 2024 13,295 -9 2 1 0.3 -0.1 Feb 12, 2025 J-GAAP
Jan - Mar, 2025 12,302 85 102 98 25.2 0.7 May 13, 2025 J-GAAP
Apr - Jun, 2025 14,344 255 268 173 44.5 1.8 Aug 13, 2025 J-GAAP
Jul - Sep, 2025 16,432 449 440 275 70.5 2.7 Nov 13, 2025 J-GAAP
YoY +6.2% +44.8% +34.6% +29.1% +28.7%

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