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MUGEN ESTATE, Ordinary Profit Forecast for the Fiscal Year Revised Downward by 8%

Fri Nov 14, 2025 2:00 pm JST Earnings

3299 MUGEN ESTATE Co.,Ltd. 【J-GAAP】

Earnings Report

MUGEN ESTATE Co.,Ltd. <3299> [TSE Std] announced its financial results in the afternoon session on November 14th (14:00). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending December 2025 (January to September) decreased 9.8% from the same period last year to 6.31 billion yen.

In addition, the full-year forecast for consolidated ordinary profit has decreased 8.1%, from the previous forecast of 9.95 billion yen to 9.14 billion yen (compared to 8.85 billion yen in the previous period), leading to a reduction in the profit growth rate from 12.4% to 3.3%.

Based on the full-year plan announced by the company after the downward revision, our estimate of the consolidated ordinary profit for the July to December period (second half) has decreased 16.1%, from the previous forecast of 5.02 billion yen to 4.21 billion yen (compared to 4.21 billion yen in the same period of the previous year), leading to a reduction in the profit growth rate from 19.2% to 0.05%.

In the most recent three-month period, from July to September (3Q), the consolidated ordinary profit dropped to 1.37 billion yen, a 41.4% decrease compared to the same period last year. The operating profit margin decreased from 15.1% in the same period last year to 11.7%.

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Actual Results

Accumulated Results 3rd Quarter
Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Progress Rate vs. First Half Announce Accounting Standards
Jan - Sep, 2023 39,993 5,164 4,587 3,047 129.6 87.5 Nov 14, 2023 J-GAAP
Jan - Sep, 2024 48,352 7,577 6,998 4,613 196.2 79.0 Nov 14, 2024 J-GAAP
Jan - Sep, 2025 46,959 7,117 6,310 4,197 179.9 69.0 Nov 14, 2025 J-GAAP
YoY -2.9% -6.1% -9.8% -9.0% -8.3%

Guidance Update

Second Half Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Jul - Dec, 2025 Prev 47,751 5,482 5,023 3,184 135.6 67 Aug 8, 2025 J-GAAP
Jul - Dec, 2025 New 31,192 4,737 4,215 2,858 121.7 67 Nov 14, 2025 J-GAAP
Revision Rate -34.7% -13.6% -16.1% -10.2% -10.2%

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Dec, 2025 Prev 80,694 10,961 9,955 6,504 276.9 112 Feb 14, 2025 J-GAAP
Dec, 2025 New 64,135 10,216 9,147 6,178 263.0 112 Nov 14, 2025 J-GAAP
Revision Rate -20.5% -6.8% -8.1% -5.0% -5.0%

Current Period Guidance

Second Half Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Jul - Dec, 2024 30,685 4,594 4,213 3,022 128.9 104 Feb 14, 2025 J-GAAP
Jul - Dec, 2025 Guidance 31,192 4,737 4,215 2,858 121.7 67 Nov 14, 2025 J-GAAP
YoY +1.7% +3.1% +0.0% -5.4% -5.6%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Dec, 2023 51,640 5,936 5,243 3,653 155.3 63 Feb 14, 2024 J-GAAP
Dec, 2024 62,187 9,623 8,858 6,086 259.5 104 Feb 14, 2025 J-GAAP
Dec, 2025 Guidance 64,135 10,216 9,147 6,178 263.0 112 Nov 14, 2025 J-GAAP
YoY +3.1% +6.2% +3.3% +1.5% +1.4%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2024 16,850 2,548 2,353 1,549 65.9 15.1 Nov 14, 2024 J-GAAP
Oct - Dec, 2024 13,835 2,046 1,860 1,473 62.8 14.8 Feb 14, 2025 J-GAAP
Jan - Mar, 2025 17,153 2,982 2,656 1,800 77.4 17.4 May 14, 2025 J-GAAP
Apr - Jun, 2025 15,790 2,497 2,276 1,520 65.2 15.8 Aug 8, 2025 J-GAAP
Jul - Sep, 2025 14,016 1,638 1,378 877 37.6 11.7 Nov 14, 2025 J-GAAP
YoY -16.8% -35.7% -41.4% -43.4% -42.9%

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