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HONEYS HOLDINGS, Ordinary Profit Forecast for the Fiscal Year Revised Downward to an Unexpected 6% Decrease

Wed Jan 7, 2026 3:30 pm JST Earnings

2792 HONEYS HOLDINGS CO.,LTD. 【J-GAAP】

Earnings Report

HONEYS HOLDINGS CO.,LTD. <2792> [TSE Prime] announced its financial results after the market closed on January 7th (15:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending May 2026 (June to November) decreased 16.3% from the same period last year to 2.78 billion yen.

In addition, the full-year forecast for consolidated ordinary profit has decreased 9.7%, from the previous forecast of 6.20 billion yen to 5.60 billion yen (compared to 5.98 billion yen in the previous period). This changes the outlook from an anticipated profit increase to a projection of a 6.5% decrease in profit.

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 December to May period (second half) is expected to grow 5.7% from the same period last year, reaching 2.81 billion yen.

In the most recent three-month period, from September to November (2Q), the consolidated ordinary profit decreased to 1.51 billion yen, a 10.7% decrease compared to the same period last year. The operating profit margin decreased from 13.6% in the same period last year to 10.2%.

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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
Jun - Nov, 2023 27,569 3,595 3,670 2,427 87.1 50.4 Jan 10, 2024 J-GAAP
Jun - Nov, 2024 29,488 3,295 3,327 2,080 74.6 55.6 Jan 8, 2025 J-GAAP
Jun - Nov, 2025 28,905 2,733 2,785 1,769 63.5 49.7 Jan 7, 2026 J-GAAP
YoY -2.0% -17.1% -16.3% -15.0% -15.0%

First Half Results vs. Previous Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Jun - Nov, 2025 Guidance 29,600 3,200 3,200 2,100 75.3 25 Jul 8, 2025 J-GAAP
Jun - Nov, 2025 Results 28,905 2,733 2,785 1,769 63.5 25 Jan 7, 2026 J-GAAP
Revision Rate -2.3% -14.6% -13.0% -15.8% -15.7%

Guidance Update

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
May, 2026 Prev 59,000 6,200 6,200 4,000 143.5 55 Jul 8, 2025 J-GAAP
May, 2026 New 57,500 5,600 5,600 3,600 129.1 55 Jan 7, 2026 J-GAAP
Revision Rate -2.5% -9.7% -9.7% -10.0% -10.0%

Current Period Guidance

Second Half Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Dec - May, 2024 28,213 2,611 2,662 1,652 59.3 30 Jul 8, 2025 J-GAAP
Dec - May, 2025 Guidance 28,595 2,867 2,815 1,831 65.7 30 Jan 7, 2026 J-GAAP
YoY +1.4% +9.8% +5.7% +10.8% +10.8%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
May, 2024 56,571 6,970 7,281 4,876 175.0 55 Jul 9, 2024 J-GAAP
May, 2025 57,701 5,906 5,989 3,732 133.9 55 Jul 8, 2025 J-GAAP
May, 2026 Guidance 57,500 5,600 5,600 3,600 129.1 55 Jan 7, 2026 J-GAAP
YoY -0.3% -5.2% -6.5% -3.5% -3.6%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Sep - Nov, 2024 15,180 2,062 1,695 999 35.9 13.6 Jan 8, 2025 J-GAAP
Dec - Feb, 2024 11,979 -94 -66 -88 -3.2 -0.8 Mar 27, 2025 J-GAAP
Mar - May, 2025 16,234 2,705 2,728 1,740 62.4 16.7 Jul 8, 2025 J-GAAP
Jun - Aug, 2025 13,899 1,205 1,272 792 28.4 8.7 Sep 29, 2025 J-GAAP
Sep - Nov, 2025 15,006 1,528 1,513 977 35.1 10.2 Jan 7, 2026 J-GAAP
YoY -1.1% -25.9% -10.7% -2.2% -2.2%

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