BOURBON, Ordinary Profit Forecast for the Fiscal Year Revised Upward to an Unexpected 2% Increase, Raises Record High Profit, Dividend Revised Upward by 2 Yen

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Fri Jan 30, 2026 3:45 pm JST Earnings

2208 BOURBON CORPORATION 【J-GAAP】

Earnings Report

BOURBON CORPORATION <2208> [TSE Std] announced its financial results after the market closed on January 30th (15:45). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending March 2026 (April to December) decreased 8.1% from the same period last year to 4.77 billion yen.

However, the full-year forecast for consolidated ordinary profit has been revised upward 24.2%, from the previous forecast of 6.20 billion yen to 7.70 billion yen (compared to 7.58 billion yen in the previous period), record profits reach two consecutive terms, turning to a 1.5% increase in the consolidated ordinary profit outlook.

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 32.4%, from the previous forecast of 4.63 billion yen to 6.13 billion yen (compared to 5.53 billion yen in the same period of the previous year), turning to a 10.9% 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 40 yen to 42 yen (compared to 37 yen in the previous period).

In the most recent three-month period, from October to December (3Q), the consolidated ordinary profit amounted to 3.20 billion yen, an increase of 2.0% compared to the same period last year. However, the operating profit margin worsened from 9.1% in the same period last year to 8.3%.

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	75,275	1,967	2,217	1,607	66.9	51.8	Jan 30, 2024	J-GAAP
Apr - Dec, 2024	82,824	4,932	5,200	3,682	153.1	68.6	Jan 30, 2025	J-GAAP
Apr - Dec, 2025	87,702	4,374	4,777	3,423	141.6	62.0	Jan 30, 2026	J-GAAP
YoY	+5.9%	-11.3%	-8.1%	-7.0%	-7.5%

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	65,071	4,515	4,631	3,172	131.2	20	Oct 31, 2025	J-GAAP
Oct - Mar, 2025 New	66,771	5,815	6,131	4,572	189.1	22	Jan 30, 2026	J-GAAP
Revision Rate	+2.6%	+28.8%	+32.4%	+44.1%	+44.1%

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2026 Prev	118,000	6,000	6,200	4,300	177.9	40	Apr 25, 2025	J-GAAP
Mar, 2026 New	119,700	7,300	7,700	5,700	235.8	42	Jan 30, 2026	J-GAAP
Revision Rate	+1.4%	+21.7%	+24.2%	+32.6%	+32.6%

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	62,194	5,410	5,530	3,845	159.7	18.50	Apr 25, 2025	J-GAAP
Oct - Mar, 2025 Guidance	66,771	5,815	6,131	4,572	189.1	22	Jan 30, 2026	J-GAAP
YoY	+7.4%	+7.5%	+10.9%	+18.9%	+18.4%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2024	103,717	3,810	4,283	3,071	127.9	27	Apr 26, 2024	J-GAAP
Mar, 2025	113,475	7,470	7,585	5,566	231.2	37	Apr 25, 2025	J-GAAP
Mar, 2026 Guidance	119,700	7,300	7,700	5,700	235.8	42	Jan 30, 2026	J-GAAP
YoY	+5.5%	-2.3%	+1.5%	+2.4%	+2.0%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Oct - Dec, 2024	31,543	2,872	3,145	1,961	81.6	9.1	Jan 30, 2025	J-GAAP
Jan - Mar, 2025	30,651	2,538	2,385	1,884	78.3	8.3	Apr 25, 2025	J-GAAP
Apr - Jun, 2025	28,314	1,525	1,500	1,013	41.9	5.4	Jul 31, 2025	J-GAAP
Jul - Sep, 2025	24,615	-40	69	115	4.8	-0.2	Oct 31, 2025	J-GAAP
Oct - Dec, 2025	34,773	2,889	3,208	2,295	95.0	8.3	Jan 30, 2026	J-GAAP
YoY	+10.2%	+0.6%	+2.0%	+17.0%	+16.4%