TSUZUKI DENKI, Ordinary Profit Forecast for the Fiscal Year Revised Upward by 21%, Raises Record High Profit Forecast, Dividend Revised Upward by 21 Yen

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Fri Jan 30, 2026 12:30 pm JST Earnings

8157 TSUZUKI DENKI CO., LTD. 【J-GAAP】

Earnings Report

TSUZUKI DENKI CO., LTD. <8157> [TSE Prime] announced its financial results at noon (12:30) on January 30th. The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending March 2026 (April to December) expanded 4.14 billion yen, an increase 64.3% compared to the same period last year.

In addition, the full-year forecast for consolidated ordinary profit has been revised upward 20.7%, from the previous forecast of 6.75 billion yen to 8.15 billion yen (compared to 6.59 billion yen in the previous period), increasing the growth rate from 2.3% to 23.6%, further surpassing the previous forecast of record-high profits for four consecutive terms.

Based on the full-year plan announced by the company after the upward revision, our estimate of the consolidated ordinary profit for the October to March period (second half) is expected to increase 33.7%, from the previous forecast of 4.15 billion yen to 5.55 billion yen (compared to 5.10 billion yen in the same period of the previous year), turning to an 8.8% increase in the consolidated ordinary profit outlook.

In light of the strong performance, the company has increased its planned annual dividend for the current fiscal year from the original plan of 100 yen to 121 yen (compared to 99 yen in the previous period).

In the most recent three-month period, from October to December (3Q), the consolidated ordinary profit increased 50.0% from the same period last year, reaching 1.54 billion yen. The operating profit margin improved from 4.3% in the same period last year to 6.3%.

Kabutan News

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
Apr - Dec, 2023	93,013	3,938	3,992	4,187	233.2	61.5	Jan 31, 2024	J-GAAP
Apr - Dec, 2024	65,298	2,400	2,520	1,736	96.1	38.2	Jan 31, 2025	J-GAAP
Apr - Dec, 2025	67,326	4,005	4,141	3,327	183.1	50.8	Jan 30, 2026	J-GAAP
YoY	+3.1%	+66.9%	+64.3%	+91.6%	+90.6%

Guidance Update

Second Half Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Oct - Mar, 2025 Prev	59,063	4,211	4,157	2,683	147.4	50	Oct 31, 2025	J-GAAP
Oct - Mar, 2025 New	59,063	5,511	5,557	4,183	229.7	71	Jan 30, 2026	J-GAAP
Revision Rate	0.0%	+30.9%	+33.7%	+55.9%	+55.9%

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2026 Prev	102,500	6,700	6,750	4,500	247.2	100	May 12, 2025	J-GAAP
Mar, 2026 New	102,500	8,000	8,150	6,000	329.5	121	Jan 30, 2026	J-GAAP
Revision Rate	0.0%	+19.4%	+20.7%	+33.3%	+33.3%

Current Period Guidance

Second Half Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Oct - Mar, 2024	56,421	5,087	5,108	3,728	206.1	54	May 12, 2025	J-GAAP
Oct - Mar, 2025 Guidance	59,063	5,511	5,557	4,183	229.7	71	Jan 30, 2026	J-GAAP
YoY	+4.7%	+8.3%	+8.8%	+12.2%	+11.5%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2024	124,856	6,439	6,486	5,477	304.8	90	May 13, 2024	J-GAAP
Mar, 2025	98,263	6,481	6,596	4,764	263.3	99	May 12, 2025	J-GAAP
Mar, 2026 Guidance	102,500	8,000	8,150	6,000	329.5	121	Jan 30, 2026	J-GAAP
YoY	+4.3%	+23.4%	+23.6%	+25.9%	+25.1%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Oct - Dec, 2024	23,456	1,006	1,032	700	38.7	4.3	Jan 31, 2025	J-GAAP
Jan - Mar, 2025	32,965	4,081	4,076	3,028	167.4	12.4	May 12, 2025	J-GAAP
Apr - Jun, 2025	18,833	301	359	272	15.0	1.6	Jul 31, 2025	J-GAAP
Jul - Sep, 2025	24,604	2,188	2,234	1,545	85.1	8.9	Oct 31, 2025	J-GAAP
Oct - Dec, 2025	23,889	1,516	1,548	1,510	83.1	6.3	Jan 30, 2026	J-GAAP
YoY	+1.8%	+50.7%	+50.0%	+115.7%	+114.6%