Will Smart, Net Income Forecast for the Fiscal Year Revised Downward to a Loss, 66% Deficit Against Net Assets

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Fri Nov 21, 2025 3:30 pm JST Revision

175A Will Smart Co.,LTD. 【J-GAAP】

Guidance Update Report

Will Smart Co.,LTD. <175A> [TSE Growth] announced a performance revision after the market closed on November 21st (15:30). The net income/loss (non-consolidated) forecast for the fiscal year ending December 2025 has been revised downward from an expected profit of 40 million yen to a loss of 270 million yen, turning to a loss outlook The deficit amounted to a 65.9% impairment of net assets at the end of the previous fiscal year..

Based on the downwardly revised full-year plan announced by the company, our calculation indicates that the July to December period (second half) net income/loss has been revised downward from an expected profit of 193 million yen to a loss of 117 million yen, turning to a loss outlook.

At the same time, the year-end lump-sum dividend remains undecided.

Note: Due to a change in the fiscal year ending December 2024 (9-month fiscal year), comparisons with the same period in the previous year are not provided since there is no corresponding period.

Kabutan News

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	839	218	203	193	131.2	－	Aug 8, 2025	J-GAAP
Jul - Dec, 2025 New	419	-122	-117	-117	-79.5	－	Nov 21, 2025	J-GAAP
Revision Rate	-50.1%	－	－	－	－

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Dec, 2025 Prev	1,200	50	50	40	27.2	－	Feb 14, 2025	J-GAAP
Dec, 2025 New	780	-290	-270	-270	-183.6	－	Nov 21, 2025	J-GAAP
Revision Rate	-35.0%	－	－	－	－

Current Period Guidance

Second Half Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Oct - Dec, 2024 Changed	277	8	13	15	10.4	0	Feb 14, 2025	J-GAAP
Jul - Dec, 2025 Guidance	419	-122	-117	-117	-79.5	－	Nov 21, 2025	J-GAAP
YoY	－	－	－	－	－

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2024	1,085	36	35	27	21.8	0	Apr 26, 2024	J-GAAP
Dec, 2024 Changed	512	-227	-223	-223	-154.7	0	Feb 14, 2025	J-GAAP
Dec, 2025 Guidance	780	-290	-270	-270	-183.6	－	Nov 21, 2025	J-GAAP
YoY	－	－	－	－	－