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Ricecurry, First Half Ordinary Profit Turns to Loss, Jul-Sep Ordinary Profit Loss Widens

Fri Nov 14, 2025 3:30 pm JST Earnings

195A MUSCAT GROUP Inc. 【J-GAAP】

Earnings Report

MUSCAT GROUP Inc. <195A> [TSE Growth] announced its financial results after the market closed on November 14th (15:30). The consolidated ordinary profit/loss for the cumulative second quarter of the fiscal year ending March 2026 (April to September) turned into a loss of 216 million yen (compared to a profit of 14 million yen in the same period last year).

In the most recent three-month period, from July to September (2Q), the consolidated ordinary loss expanded to a loss of 49 million yen (compared to a loss of 10 million yen in the same period last year). The operating profit/loss margin drastically worsened from -1.6% in the same period last year to -5.1%.

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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, 2024 1,197 17 14 25 8.9 14.7 Nov 14, 2024 J-GAAP
Apr - Sep, 2025 1,607 -203 -216 -186 -62.4 ー Nov 14, 2025 J-GAAP
YoY +34.3% － － － －

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 － 0 May 14, 2025 J-GAAP
Apr - Sep, 2025 Results 1,607 -203 -216 -186 -62.4 0 Nov 14, 2025 J-GAAP
Revision Rate － － － － －

Guidance Update

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2026 Prev 3,887 ー ー ー － 0 May 14, 2025 J-GAAP
Mar, 2026 New 4,470 ー ー ー － 0 Nov 14, 2025 J-GAAP
Revision Rate +15.0% － － － －

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 1,789 71 81 87 30.1 0 May 14, 2025 J-GAAP
Oct - Mar, 2025 Guidance 2,863 ー ー ー － 0 Nov 14, 2025 J-GAAP
YoY +60.0% － － － －

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2025 2,986 88 95 112 38.7 0 May 14, 2025 J-GAAP
Mar, 2026 Guidance 4,470 ー ー ー － 0 Nov 14, 2025 J-GAAP
YoY +49.7% － － － －

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2024 580 -9 -10 4 1.4 -1.6 Nov 14, 2024 J-GAAP
Oct - Dec, 2024 899 14 1 -8 -2.8 1.6 Feb 14, 2025 J-GAAP
Jan - Mar, 2025 890 57 80 95 32.8 6.4 May 14, 2025 J-GAAP
Apr - Jun, 2025 778 -161 -167 -115 -38.8 -20.7 Aug 14, 2025 J-GAAP
Jul - Sep, 2025 829 -42 -49 -71 -23.8 -5.1 Nov 14, 2025 J-GAAP
YoY +42.9% -366.7% -390.0% － －

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