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Star Flyer, Ordinary Profit Forecast for the Fiscal Year Revised Downward to an Unexpected 84% Decrease

Fri Jan 30, 2026 3:30 pm JST Earnings

9206 Star Flyer Inc. 【J-GAAP】

Earnings Report

Star Flyer Inc. <9206> [TSE Std] announced its financial results after the market closed on January 30th (15:30). The ordinary profit/loss (non-consolidated) for the cumulative third quarter of the fiscal year ending March 2026 (April to December) turned into a loss of 0.25 billion yen (compared to a profit of 2.11 billion yen in the same period last year).

In addition, the full-year forecast for ordinary profit has decreased 86.0%, from the previous forecast of 2.14 billion yen to 0.30 billion yen (compared to 1.93 billion yen in the previous period). This changes the outlook from an anticipated profit increase to a projection of an 84.5% decrease in profit.

Based on the full-year plan announced by the company after the downward revision, our estimate of the ordinary profit for the October to March period (second half) has decreased 73.3%, from the previous forecast of 2.51 billion yen to 0.67 billion yen (compared to 1.29 billion yen in the same period of the previous year). This changes the outlook from an anticipated profit increase to a projection of a 48.1% decrease in profit.

At the same time, the year-end lump-sum dividend remains undecided.

In the most recent three-month period, from October to December (3Q), the ordinary profit significantly dropped to 0.11 billion yen, a 92.5% decrease compared to the same period last year. The operating profit margin drastically worsened from 9.9% in the same period last year to 4.5%.

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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
Apr - Dec, 2023 29,613 -254 306 118 33.8 28.9 Jan 31, 2024 J-GAAP
Apr - Dec, 2024 32,056 1,422 2,114 2,022 565.1 109.4 Jan 31, 2025 J-GAAP
Apr - Dec, 2025 33,174 419 -259 -90 -24.1 ー Jan 30, 2026 J-GAAP
YoY +3.5% -70.5% － － －

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 23,959 2,257 2,510 1,860 491.6 － Oct 31, 2025 J-GAAP
Oct - Mar, 2025 New 23,199 1,007 670 400 105.7 － Jan 30, 2026 J-GAAP
Revision Rate -3.2% -55.4% -73.3% -78.5% -78.5%

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2026 Prev 45,410 2,150 2,140 1,760 465.2 － Apr 30, 2025 J-GAAP
Mar, 2026 New 44,650 900 300 300 79.3 － Jan 30, 2026 J-GAAP
Revision Rate -1.7% -58.1% -86.0% -83.0% -83.0%

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 22,027 918 1,292 1,259 351.4 0 Apr 30, 2025 J-GAAP
Oct - Mar, 2025 Guidance 23,199 1,007 670 400 105.7 － Jan 30, 2026 J-GAAP
YoY +5.3% +9.7% -48.1% -68.2% -69.9%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2024 40,019 90 1,060 912 260.1 0 Apr 30, 2024 J-GAAP
Mar, 2025 42,900 1,230 1,933 1,923 536.7 0 Apr 30, 2025 J-GAAP
Mar, 2026 Guidance 44,650 900 300 300 79.3 － Jan 30, 2026 J-GAAP
YoY +4.1% -26.8% -84.5% -84.4% -85.2%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Oct - Dec, 2024 11,183 1,110 1,473 1,358 379.6 9.9 Jan 31, 2025 J-GAAP
Jan - Mar, 2025 10,844 -192 -181 -99 -27.6 -1.8 Apr 30, 2025 J-GAAP
Apr - Jun, 2025 10,391 -40 -74 98 26.3 -0.4 Jul 31, 2025 J-GAAP
Jul - Sep, 2025 11,060 -67 -296 -198 -52.9 -0.6 Oct 31, 2025 J-GAAP
Oct - Dec, 2025 11,723 526 111 10 2.7 4.5 Jan 30, 2026 J-GAAP
YoY +4.8% -52.6% -92.5% -99.3% -99.3%

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