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MARUHACHI HOLDINGS, Ordinary Profit Forecast for the Fiscal Year Revised Upward to an Unexpected 4% Increase

Thu Nov 13, 2025 4:00 pm JST Earnings

3504 MARUHACHI HOLDINGS CO., LTD. 【J-GAAP】

Earnings Report

MARUHACHI HOLDINGS CO., LTD. <3504> [NSE Main] announced its financial results after the market closed on November 13th (16:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2026 (April to September) increased 27.5% from the same period last year, reaching 1.59 billion yen.

In addition, the full-year forecast for consolidated ordinary profit has been revised upward 7.2%, from the previous forecast of 2.56 billion yen to 2.74 billion yen (compared to 2.64 billion yen in the previous period), turning to a 3.9% increase in the consolidated ordinary profit outlook.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the consolidated ordinary profit for the October to March period (second half) is expected to decrease 17.4% from the same period last year to 1.15 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit/loss turned to a profit of 1.04 billion yen (compared to a loss of 0.49 billion yen in the same period last year). The operating profit margin rose from 11.1% in the same period last year to 14.2%.

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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 6,036 957 2,338 1,460 94.3 68.3 Nov 9, 2023 J-GAAP
Apr - Sep, 2024 5,933 717 1,251 1,210 78.1 47.3 Nov 13, 2024 J-GAAP
Apr - Sep, 2025 5,784 770 1,595 1,069 69.0 58.1 Nov 13, 2025 J-GAAP
YoY -2.5% +7.4% +27.5% -11.7% -11.7%

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 5,866 749 1,390 773 49.9 0 May 14, 2025 J-GAAP
Apr - Sep, 2025 Results 5,784 770 1,595 1,069 69.0 0 Nov 13, 2025 J-GAAP
Revision Rate -1.4% +2.8% +14.7% +38.3% +38.3%

Guidance Update

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2026 Prev 11,756 1,285 2,562 1,547 99.8 30 May 14, 2025 J-GAAP
Mar, 2026 New 11,756 1,285 2,747 2,433 157.0 30 Nov 13, 2025 J-GAAP
Revision Rate 0.0% 0.0% +7.2% +57.3% +57.3%

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 5,954 644 1,394 1,172 75.7 30 May 14, 2025 J-GAAP
Oct - Mar, 2025 Guidance 5,972 515 1,152 1,364 88.0 30 Nov 13, 2025 J-GAAP
YoY +0.3% -20.0% -17.4% +16.4% +16.3%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2024 11,829 1,433 3,425 2,327 150.2 30 May 14, 2024 J-GAAP
Mar, 2025 11,887 1,361 2,645 2,382 153.8 30 May 14, 2025 J-GAAP
Mar, 2026 Guidance 11,756 1,285 2,747 2,433 157.0 30 Nov 13, 2025 J-GAAP
YoY -1.1% -5.6% +3.9% +2.1% +2.1%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2024 2,801 312 -493 -614 -39.7 11.1 Nov 13, 2024 J-GAAP
Oct - Dec, 2024 3,382 600 1,479 1,152 74.4 17.7 Feb 12, 2025 J-GAAP
Jan - Mar, 2025 2,572 44 -85 20 1.3 1.7 May 14, 2025 J-GAAP
Apr - Jun, 2025 2,980 373 552 163 10.6 12.5 Aug 12, 2025 J-GAAP
Jul - Sep, 2025 2,804 397 1,043 906 58.5 14.2 Nov 13, 2025 J-GAAP
YoY +0.1% +27.2% － － －

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