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J Frontier, First Half Ordinary Profit Turns to Loss, Sep-Nov Ordinary Profit Turns to Loss

Wed Jan 14, 2026 3:30 pm JST Earnings

2934 J Frontier Co.,Ltd. 【J-GAAP】

Earnings Report

J Frontier Co.,Ltd. <2934> [TSE Growth] announced its financial results after the market closed on January 14th (15:30). The consolidated ordinary profit/loss for the cumulative second quarter of the fiscal year ending May 2026 (June to November) turned into a loss of 131 million yen (compared to a profit of 7 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 ordinary profit for the December to May period (second half) is expected to expand 65.6% from the same period last year, reaching 371 million yen.

In the most recent three-month period, from September to November (2Q), the consolidated ordinary profit/loss turned to a loss of 127 million yen (compared to a profit of 50 million yen in the same period last year). The operating profit/loss margin drastically worsened from 1.1% in the same period last year to -2.2%.

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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 8,013 -221 -232 -286 -59.3 ー Jan 12, 2024 J-GAAP
Jun - Nov, 2024 10,843 27 7 -21 -4.3 3.0 Jan 14, 2025 J-GAAP
Jun - Nov, 2025 10,675 -142 -131 -191 -36.4 ー Jan 14, 2026 J-GAAP
YoY -1.5% － － -809.5% -741.7%

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 － 0 Jul 15, 2025 J-GAAP
Jun - Nov, 2025 Results 10,675 -142 -131 -191 -36.4 0 Jan 14, 2026 J-GAAP
Revision Rate － － － － －

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 10,661 266 224 108 21.6 0 Jul 15, 2025 J-GAAP
Dec - May, 2025 Guidance 12,925 469 371 291 54.6 0 Jan 14, 2026 J-GAAP
YoY +21.2% +76.3% +65.6% +169.4% +152.4%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
May, 2024 17,714 -605 -694 -2,101 -429.1 0 Dec 11, 2024 J-GAAP
May, 2025 21,504 293 231 87 17.4 0 Jul 15, 2025 J-GAAP
May, 2026 Guidance 23,600 327 240 100 18.8 0 Jul 15, 2025 J-GAAP
YoY +9.7% +11.6% +3.9% +14.9% +7.6%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Sep - Nov, 2024 5,415 61 50 13 2.7 1.1 Jan 14, 2025 J-GAAP
Dec - Feb, 2024 5,506 174 168 142 28.7 3.2 Apr 14, 2025 J-GAAP
Mar - May, 2025 5,155 92 56 -34 -6.8 1.8 Jul 15, 2025 J-GAAP
Jun - Aug, 2025 5,000 -17 -4 -36 -6.9 -0.3 Oct 15, 2025 J-GAAP
Sep - Nov, 2025 5,675 -125 -127 -155 -29.5 -2.2 Jan 14, 2026 J-GAAP
YoY +4.8% － － － －

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