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Nitori, First Half Net Income Decreases by 8%, Jul-Sep Net Income Decreases by 16%

Thu Nov 13, 2025 3:30 pm JST Earnings

9843 Nitori Holdings Co., Ltd. 【J-GAAP】

Earnings Report

Nitori Holdings Co., Ltd. <9843> [TSE Prime] announced its financial results (based on IFRS) after the market closed on November 13th (15:30). The consolidated net income for the cumulative second quarter of the fiscal year ending March 2026 (April to September) decreased 8.1% from the same period last year to 41.7 billion yen. Progress toward the full-year plan of 94.0 billion yen was 44.4%, also falling below the same period of the previous year of 55.0%.

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated net income for the October to March period (second half) is expected to expand 40.7% from the same period last year, reaching 52.2 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated net income decreased to 15.5 billion yen, a 16.4% decrease compared to the same period last year. The operating profit margin decreased from 12.7% in the same period last year to 11.0%.

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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 416,814 55,173 56,921 38,043 67.3 43.0 Nov 10, 2023 J-GAAP
Apr - Sep, 2024 447,117 64,274 64,082 45,408 80.4 54.6 Nov 6, 2024 IFRS
Apr - Sep, 2025 439,111 59,859 60,360 41,741 73.9 44.1 Nov 13, 2025 IFRS
YoY -1.8% -6.9% -5.8% -8.1% -8.1%

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 469,300 59,000 59,600 41,000 72.6 15.40 May 13, 2025 IFRS
Apr - Sep, 2025 Results 439,111 59,859 60,360 41,741 73.9 15.40 Nov 13, 2025 IFRS
Revision Rate -6.4% +1.5% +1.3% +1.8% +1.8%

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 481,711 53,391 53,366 37,138 65.7 15.20 May 13, 2025 IFRS
Oct - Mar, 2025 Guidance 548,889 75,941 76,640 52,259 92.5 15.40 Nov 13, 2025 IFRS
YoY +13.9% +42.2% +43.6% +40.7% +40.7%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2024 895,799 127,725 132,377 86,523 153.1 29.40 May 14, 2024 J-GAAP
Mar, 2025 928,828 117,665 117,448 82,546 146.1 30.40 May 13, 2025 IFRS
Mar, 2026 Guidance 988,000 135,800 137,000 94,000 166.4 30.80 Jul 15, 2025 IFRS
YoY +6.4% +15.4% +16.6% +13.9% +13.9%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2024 213,717 27,136 26,441 18,655 33.0 12.7 Nov 6, 2024 IFRS
Oct - Dec, 2024 259,177 40,940 42,621 29,567 52.3 15.8 Feb 12, 2025 J-GAAP
Jan - Mar, 2025 223,883 18,751 14,198 12,523 22.2 8.4 May 13, 2025 IFRS
Apr - Jun, 2025 231,694 36,942 37,132 26,154 46.3 15.9 Aug 7, 2025 IFRS
Jul - Sep, 2025 207,417 22,917 23,228 15,587 27.6 11.0 Nov 13, 2025 IFRS
YoY -2.9% -15.5% -12.2% -16.4% -16.4%

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