Pro-Ship, Ordinary Profit Forecast for the Fiscal Year Revised Upward by 10%, Raises Record High Profit Forecast, Dividend Effectively Increased

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Fri Nov 14, 2025 4:00 pm JST Earnings

3763 Pro-Ship Incorporated 【J-GAAP】

Earnings Report

Pro-Ship Incorporated <3763> [TSE Prime] announced its financial results after the market closed on November 14th (16:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2026 (April to September) surged 2.7 times that of the same period last year, reaching 1.45 billion yen.

In addition, the full-year forecast for consolidated ordinary profit has been revised upward 10.0%, from the previous forecast of 2.46 billion yen to 2.70 billion yen (compared to 2.43 billion yen in the previous period), increasing the growth rate from 1.2% to 11.3%, further surpassing the previous forecast of record-high profits for two consecutive terms.

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 drop 33.6% from the same period last year to 1.25 billion yen.

At the same time, due to a planned 2-for-1 forward stock split is scheduled for September 30, the year-end lump-sum dividend for the current fiscal year has been revised from the original plan of 32 yen to 37 yen (equivalent to 74 yen before the forward stock split) This effectively represents a 15.6% increase in the annual dividend.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit surged 2.7 times that of the same period last year, reaching 0.86 billion yen. The operating profit margin jumped from 18.9% in the same period last year to 40.5%.

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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	3,026	415	443	301	12.2	23.6	Nov 13, 2023	J-GAAP
Apr - Sep, 2024	3,118	501	540	428	17.4	22.2	Nov 8, 2024	J-GAAP
Apr - Sep, 2025	3,896	1,404	1,451	998	40.2	53.6	Nov 14, 2025	J-GAAP
YoY	+25.0%	+180.2%	+168.7%	+133.2%	+131.4%

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 9, 2025	J-GAAP
Apr - Sep, 2025 Results	3,896	1,404	1,451	998	40.2	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	8,200	2,310	2,460	1,800	71.0	32	Jul 10, 2025	J-GAAP
Mar, 2026 New	8,200	2,624	2,706	1,968	77.6	37	Nov 14, 2025	J-GAAP
Revision Rate	0.0%	+13.6%	+10.0%	+9.3%	+9.3%

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	4,446	1,808	1,891	1,502	60.7	31.50	May 9, 2025	J-GAAP
Oct - Mar, 2025 Guidance	4,304	1,220	1,255	970	38.3	37	Nov 14, 2025	J-GAAP
YoY	-3.2%	-32.5%	-33.6%	-35.4%	-37.0%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2024	6,812	1,632	1,877	1,349	54.8	25	May 10, 2024	J-GAAP
Mar, 2025	7,564	2,309	2,431	1,930	78.0	31.50	May 9, 2025	J-GAAP
Mar, 2026 Guidance	8,200	2,624	2,706	1,968	77.6	37	Nov 14, 2025	J-GAAP
YoY	+8.4%	+13.6%	+11.3%	+2.0%	-0.6%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2024	1,633	308	316	265	10.8	18.9	Nov 8, 2024	J-GAAP
Oct - Dec, 2024	1,836	595	666	467	18.9	32.4	Feb 7, 2025	J-GAAP
Jan - Mar, 2025	2,610	1,213	1,225	1,035	41.9	46.5	May 9, 2025	J-GAAP
Apr - Jun, 2025	1,806	558	588	413	16.7	30.9	Aug 8, 2025	J-GAAP
Jul - Sep, 2025	2,090	846	863	585	23.6	40.5	Nov 14, 2025	J-GAAP
YoY	+28.0%	+174.7%	+173.1%	+120.8%	+119.1%