FUJI, Ordinary Profit Forecast for the Fiscal Year Revised Downward to an Unexpected 18% Decrease

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Thu Jan 8, 2026 3:00 pm JST Earnings

8278 FUJI CO., LTD. 【J-GAAP】

Earnings Report

FUJI CO., LTD. <8278> [TSE Prime] announced its financial results in the afternoon session on January 8th (15:00). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending February 2026 (March to November) decreased 19.1% from the same period last year to 5.96 billion yen.

In addition, the full-year forecast for consolidated ordinary profit has decreased 29.8%, from the previous forecast of 16.8 billion yen to 11.8 billion yen (compared to 14.3 billion yen in the previous period). This changes the outlook from an anticipated profit increase to a projection of a 17.6% decrease in profit. However, the full-year forecast for consolidated net income has been revised upward 3.6%, from the previous forecast of 5.50 billion yen to 5.70 billion yen (compared to 3.81 billion yen in the previous period), increasing the growth rate from 44.1% to 49.3%.

Based on the full-year plan announced by the company after the downward revision, our estimate of the consolidated ordinary profit for the September to February period (second half) has decreased 43.7%, from the previous forecast of 11.4 billion yen to 6.44 billion yen (compared to 8.23 billion yen in the same period of the previous year). This changes the outlook from an anticipated profit increase to a projection of a 21.8% decrease in profit.

In the most recent three-month period, from September to November (3Q), the consolidated ordinary profit significantly dropped to 0.61 billion yen, a 53.1% decrease compared to the same period last year. The operating profit margin worsened from 0.5% in the same period last year to 0.2%.

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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	594,996	7,263	8,968	5,070	58.5	51.6	Jan 10, 2024	J-GAAP
Mar - Nov, 2024	598,188	6,122	7,380	3,102	35.8	51.6	Jan 9, 2025	J-GAAP
Mar - Nov, 2025	605,927	4,812	5,968	3,095	35.7	50.6	Jan 8, 2026	J-GAAP
YoY	+1.3%	-21.4%	-19.1%	-0.2%	-0.2%

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	406,458	10,999	11,444	2,855	33.0	15	Oct 10, 2025	J-GAAP
Sep - Feb, 2025 New	405,458	6,099	6,444	3,055	35.3	15	Jan 8, 2026	J-GAAP
Revision Rate	-0.2%	-44.5%	-43.7%	+7.0%	+7.0%

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Feb, 2026 Prev	815,000	15,500	16,800	5,500	63.5	30	Apr 10, 2025	J-GAAP
Feb, 2026 New	814,000	10,600	11,800	5,700	65.8	30	Jan 8, 2026	J-GAAP
Revision Rate	-0.1%	-31.6%	-29.8%	+3.6%	+3.6%

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	407,230	7,785	8,239	1,293	14.9	15	Apr 10, 2025	J-GAAP
Sep - Feb, 2025 Guidance	405,458	6,099	6,444	3,055	35.3	15	Jan 8, 2026	J-GAAP
YoY	-0.4%	-21.7%	-21.8%	+136.3%	+136.3%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Feb, 2024	801,022	15,110	17,374	7,436	85.8	30	Apr 8, 2024	J-GAAP
Feb, 2025	808,928	12,953	14,315	3,818	44.1	30	Apr 10, 2025	J-GAAP
Feb, 2026 Guidance	814,000	10,600	11,800	5,700	65.8	30	Jan 8, 2026	J-GAAP
YoY	+0.6%	-18.2%	-17.6%	+49.3%	+49.3%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Sep - Nov, 2024	196,490	954	1,304	577	6.7	0.5	Jan 9, 2025	J-GAAP
Dec - Feb, 2024	210,740	6,831	6,935	716	8.3	3.2	Apr 10, 2025	J-GAAP
Mar - May, 2025	201,396	1,899	2,329	1,154	13.3	0.9	Jul 10, 2025	J-GAAP
Jun - Aug, 2025	207,146	2,602	3,027	1,491	17.2	1.3	Oct 10, 2025	J-GAAP
Sep - Nov, 2025	197,385	311	612	450	5.2	0.2	Jan 8, 2026	J-GAAP
YoY	+0.5%	-67.4%	-53.1%	-22.0%	-22.1%