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T.O. Holdings, First Half Net Income Turns to Loss, Sep-Nov Net Income Decreases by 97%

Wed Jan 14, 2026 3:30 pm JST Earnings

9812 T.O. Holdings CO.,LTD. 【J-GAAP】

Earnings Report

T.O. Holdings CO.,LTD. <9812> [TSE Std] announced its financial results after the market closed on January 14th (15:30). The consolidated net income/loss for the cumulative second quarter of the fiscal year ending May 2026 (June to November) turned into a loss of 29 million yen (compared to a profit of 69 million yen in the same period last year).

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated net income/loss for the December to May period (second half) is expected to turn into a profit of 209 million yen (compared to a loss of 76 million yen in the same period last year).

In the most recent three-month period, from September to November (2Q), the consolidated net income significantly dropped to 1 million yen, a 97.4% decrease compared to the same period last year. The operating profit margin worsened from 1.8% in the same period last year to 0.8%.

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Actual Performance and Financial Trends

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 		12,520M 265M 219M -91M -14.3 99.1% Jan 12, 2024 J-GAAP
Jun - Nov, 2024 		12,671M 211M 155M 69M 10.8 149.0% Jan 14, 2025 J-GAAP
Jun - Nov, 2025 		11,751M 98M 25M -29M -4.6 7.8% Jan 14, 2026 J-GAAP
YoY -7.3% -53.6% -83.9% ー ー
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 ー ー ー ー ー 0 Jul 11, 2025 J-GAAP
Jun - Nov, 2025 Results 11,751M 98M 25M -29M -4.6 0 Jan 14, 2026 J-GAAP
Revision Rate ー ー ー ー ー

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 		11,517M 11M -51M -76M -12.8 0.50 Jul 11, 2025 J-GAAP
Guidance
Dec - May, 2025 		14,949M 302M 295M 209M 32.6 ー Jan 14, 2026 J-GAAP
YoY +29.8% +2,645.5% ー ー ー
Current Period Guidance
Fiscal Year Revenue Operating
Profit		 Ordinary
Profit		 Net
Profit		 Adj.
EPS		 Adj.
Dividend		 Announce Accounting
Standards
May, 2024 		25,605M 306M 221M 111M 17.4 0 Jul 12, 2024 J-GAAP
May, 2025 		24,188M 222M 104M -7M -1.2 0.50 Jul 11, 2025 J-GAAP
Guidance
May, 2026 		26,700M 400M 320M 180M 28.1 ー Jul 11, 2025 J-GAAP
YoY +10.4% +80.2% +207.7% ー ー

Quarterly Results

Fiscal Year Revenue Operating
Profit		 Ordinary
Profit		 Net
Profit		 Adj.
EPS		 Operating
Profit Margin		 Announce Accounting
Standards
Sep - Nov, 2024 		6,225M 109M 72M 39M 6.1 1.8% Jan 14, 2025 J-GAAP
Dec - Feb, 2024 		5,343M -26M -54M -56M -9.3 -0.5% Apr 11, 2025 J-GAAP
Mar - May, 2025 		6,174M 37M 3M -20M -3.4 0.6% Jul 11, 2025 J-GAAP
Jun - Aug, 2025 		5,678M 51M 13M -30M -4.8 0.9% Oct 10, 2025 J-GAAP
Sep - Nov, 2025 		6,073M 47M 12M 1M 0.2 0.8% Jan 14, 2026 J-GAAP
YoY -2.4% -56.9% -83.3% -97.4% -97.4%

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