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INCLUSIVE, First Half Ordinary Profit Loss Widens, Jul-Sep Ordinary Profit Loss Widens

Fri Nov 14, 2025 4:00 pm JST Earnings

7078 INCLUSIVE Holdings Inc. 【J-GAAP】

Earnings Report

INCLUSIVE Holdings Inc. <7078> [TSE Growth] announced its financial results after the market closed on November 14th (16:00). The consolidated ordinary loss for the cumulative second quarter of the fiscal year ending March 2026 (April to September) expanded to a loss of 375 million yen (compared to a loss of 270 million yen in the same period last year).

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated ordinary profit/loss for the October to March period (second half) is expected to turn into a profit of 98 million yen (compared to a loss of 83 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 185 million yen (compared to a loss of 147 million yen in the same period last year). The operating profit/loss margin drastically worsened from -14.1% in the same period last year to -20.5%.

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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 2,552 -161 -169 -125 -12.6 ー Nov 13, 2023 J-GAAP
Apr - Sep, 2024 2,239 -274 -270 -20 -2.1 ー Nov 14, 2024 J-GAAP
Apr - Sep, 2025 1,951 -376 -375 -241 -24.0 ー Nov 14, 2025 J-GAAP
YoY -12.9% -37.2% -38.9% -1,105.0% -1,072.2%

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 1,951 -376 -375 -241 -24.0 0 Nov 14, 2025 J-GAAP
Revision Rate － － － － －

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 2,658 -92 -83 -1,053 -105.0 0 May 14, 2025 J-GAAP
Oct - Mar, 2025 Guidance 3,343 106 98 201 20.0 0 Nov 14, 2025 J-GAAP
YoY +25.8% － － － －

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2024 5,359 -94 -103 313 31.5 0 May 14, 2024 J-GAAP
Mar, 2025 4,897 -366 -353 -1,073 -107.0 0 May 14, 2025 J-GAAP
Mar, 2026 Guidance 5,294 -270 -277 -40 -4.0 0 May 14, 2025 J-GAAP
YoY +8.1% +26.2% +21.5% +96.3% +96.3%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2024 1,086 -153 -147 9 0.9 -14.1 Nov 14, 2024 J-GAAP
Oct - Dec, 2024 1,034 -157 -145 -89 -8.9 -15.2 Feb 13, 2025 J-GAAP
Jan - Mar, 2025 1,624 65 62 -964 -96.1 4.0 May 14, 2025 J-GAAP
Apr - Jun, 2025 1,035 -188 -190 -142 -14.1 -18.2 Aug 13, 2025 J-GAAP
Jul - Sep, 2025 916 -188 -185 -99 -9.9 -20.5 Nov 14, 2025 J-GAAP
YoY -15.7% -22.9% -25.9% － －

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