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MINISTOP, Ordinary Profit Forecast for the Fiscal Year Revised Downward to a Loss

Thu Jan 8, 2026 2:00 pm JST Earnings

9946 MINISTOP CO., LTD. 【J-GAAP】

Earnings Report

MINISTOP CO., LTD. <9946> [TSE Prime] announced its financial results in the afternoon session on January 8th (14:00). The consolidated ordinary loss for the cumulative third quarter of the fiscal year ending February 2026 (March to November) was a reduced loss of 1.08 billion yen (compared to a loss of 1.69 billion yen in the same period last year).

However, the full-year forecast for consolidated ordinary profit/loss has been revised downward from an expected profit of 1.60 billion yen to a loss of 3.00 billion yen (compared to a loss of 2.86 billion yen in the previous period), turning to a loss outlook.

Based on the full-year plan announced by the company after the downward revision, our estimate of the consolidated ordinary profit/loss for the September to February period (second half) has been revised downward from an expected profit of 0.25 billion yen to a loss of 4.34 billion yen (compared to a loss of 2.27 billion yen in the same period of the previous year), turning to a loss outlook.

In the most recent three-month period, from September to November (3Q), the consolidated ordinary loss expanded to a loss of 2.43 billion yen (compared to a loss of 1.10 billion yen in the same period last year). The operating profit/loss margin drastically worsened from -5.5% in the same period last year to -12.0%.

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Actual Results

Accumulated Results 3rd Quarter
Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Progress Rate vs. First Half Announce Accounting Standards
Mar - Nov, 2023 60,486 86 585 313 10.8 5,850.0 Jan 11, 2024 J-GAAP
Mar - Nov, 2024 66,578 -2,023 -1,692 -1,854 -63.9 ー Jan 10, 2025 J-GAAP
Mar - Nov, 2025 70,034 -1,446 -1,085 -2,119 -73.1 ー Jan 8, 2026 J-GAAP
YoY +5.2% +28.5% +35.9% -14.3% -14.3%

Guidance Update

Second Half Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Sep - Feb, 2025 Prev 48,273 84 252 -432 -14.9 10 Oct 8, 2025 J-GAAP
Sep - Feb, 2025 New 48,273 -4,616 -4,348 -6,502 -224.2 10 Jan 8, 2026 J-GAAP
Revision Rate 0.0% － － -1,405.1% -1,407.4%

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Feb, 2026 Prev 97,000 1,200 1,600 70 2.4 20 Apr 10, 2025 J-GAAP
Feb, 2026 New 97,000 -3,500 -3,000 -6,000 -206.8 20 Jan 8, 2026 J-GAAP
Revision Rate 0.0% － － － －

Current Period Guidance

Second Half Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Sep - Feb, 2024 42,965 -2,687 -2,277 -6,090 -210.0 10 Apr 10, 2025 J-GAAP
Sep - Feb, 2025 Guidance 48,273 -4,616 -4,348 -6,502 -224.2 10 Jan 8, 2026 J-GAAP
YoY +12.4% -71.8% -91.0% -6.8% -6.8%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Feb, 2024 79,056 -609 10 -468 -16.1 20 Apr 10, 2024 J-GAAP
Feb, 2025 87,475 -3,486 -2,868 -6,774 -233.5 20 Apr 10, 2025 J-GAAP
Feb, 2026 Guidance 97,000 -3,500 -3,000 -6,000 -206.8 20 Jan 8, 2026 J-GAAP
YoY +10.9% -0.4% -4.6% +11.4% +11.4%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Sep - Nov, 2024 22,068 -1,224 -1,101 -1,170 -40.3 -5.5 Jan 10, 2025 J-GAAP
Dec - Feb, 2024 20,897 -1,463 -1,176 -4,920 -169.6 -7.0 Apr 10, 2025 J-GAAP
Mar - May, 2025 23,721 0 116 -151 -5.2 0.0 Jul 9, 2025 J-GAAP
Jun - Aug, 2025 25,006 1,116 1,232 653 22.5 4.5 Oct 8, 2025 J-GAAP
Sep - Nov, 2025 21,307 -2,562 -2,433 -2,621 -90.4 -12.0 Jan 8, 2026 J-GAAP
YoY -3.4% -109.3% -121.0% -124.0% -124.0%

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