MERF Inc, Sep-Nov (1Q) Ordinary Profit Increases by 22 times, Exceeds First Half Plan

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Wed Jan 14, 2026 3:30 pm JST Earnings

3168 MERF Inc. 【J-GAAP】

Earnings Report

MERF Inc. <3168> [TSE Std] announced its financial results after the market closed on January 14th (15:30). The consolidated ordinary profit for the first quarter of the fiscal year ending August 2026 (September to November) surged 22 times that of the same period last year, reaching 711 million yen. Progress toward the plan for the six months ending February (first half) of 131 million yen is 542.7%, already exceeding the target and also exceeding the five-year average of 83.2%.

In the most recent three-month period, from September to November (1Q), the operating profit margin significantly improved from 0.1% in the same period last year to 3.5%.

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Actual Results

Accumulated Results 1st Quarter

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Progress Rate vs. First Half	Announce	Accounting Standards
Sep - Nov, 2023	17,745	231	200	120	8.6	143.9	Jan 15, 2024	J-GAAP
Sep - Nov, 2024	21,350	14	32	32	2.3	ー	Jan 14, 2025	J-GAAP
Sep - Nov, 2025	21,098	737	711	407	28.8	542.7	Jan 14, 2026	J-GAAP
YoY	-1.2%	+5,164.3%	+2,121.9%	+1,171.9%	+1,136.1%

Current Period Guidance

H1 Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Sep - Feb, 2024	43,064	-164	-227	-177	-12.6	10	Apr 11, 2025	J-GAAP
Sep - Feb, 2025 Guidance	39,171	300	131	86	6.1	10	Oct 10, 2025	J-GAAP
YoY	-9.0%	－	－	－	－

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Aug, 2024	82,070	1,450	1,037	532	37.7	20	Oct 11, 2024	J-GAAP
Aug, 2025	82,463	117	-220	-203	-14.4	20	Oct 10, 2025	J-GAAP
Aug, 2026 Guidance	83,144	744	407	274	19.4	20	Oct 10, 2025	J-GAAP
YoY	+0.8%	+535.9%	－	－	－

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Sep - Nov, 2024	21,350	14	32	32	2.3	0.1	Jan 14, 2025	J-GAAP
Dec - Feb, 2024	21,714	-178	-259	-209	-14.8	-0.8	Apr 11, 2025	J-GAAP
Mar - May, 2025	18,928	-211	-319	-211	-15.0	-1.1	Jul 11, 2025	J-GAAP
Jun - Aug, 2025	20,471	492	326	185	13.1	2.4	Oct 10, 2025	J-GAAP
Sep - Nov, 2025	21,098	737	711	407	28.8	3.5	Jan 14, 2026	J-GAAP
YoY	-1.2%	+5,164.3%	+2,121.9%	+1,171.9%	+1,136.1%