DENSAN, Ordinary Profit Forecast for the Fiscal Year Revised Upward by 45%, Raises Record High Profit Forecast, Dividend Revised Upward by 40 Yen

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Fri Jan 30, 2026 3:50 pm JST Earnings

3640 DENSAN CO.,LTD. 【J-GAAP】

Earnings Report

DENSAN CO.,LTD. <3640> [TSE Std] announced its financial results after the market closed on January 30th (15:50). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending March 2026 (April to December) surged 4.5 times that of the same period last year, reaching 3.60 billion yen.

In addition, the full-year forecast for consolidated ordinary profit has been revised upward 44.6%, from the previous forecast of 4.35 billion yen to 6.30 billion yen (compared to 2.52 billion yen in the previous period), increasing the growth rate from 72.7% to 2.5 times, further surpassing the previous forecast of record-high profits for two 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 72.7%, from the previous forecast of 2.67 billion yen to 4.61 billion yen (compared to 2.22 billion yen in the same period of the previous year), increasing the growth rate from 19.9% to 2.1 times.

In light of the strong performance, the company has significantly increased its planned annual dividend for the current fiscal year from the original plan of 100 yen to 140 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 surged 3.8 times that of the same period last year, reaching 1.91 billion yen. The operating profit margin jumped from 11.7% in the same period last year to 26.0%.

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	10,530	51	-4	-22	-4.3	ー	Jan 30, 2024	J-GAAP
Apr - Dec, 2024	11,522	784	794	586	101.1	31.5	Jan 31, 2025	J-GAAP
Apr - Dec, 2025	17,956	3,603	3,601	2,546	449.2	57.2	Jan 30, 2026	J-GAAP
YoY	+55.8%	+359.6%	+353.5%	+334.5%	+344.2%

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	13,985	2,669	2,672	1,868	336.6	83	Oct 31, 2025	J-GAAP
Oct - Mar, 2025 New	17,255	4,614	4,615	3,341	602.0	123	Jan 30, 2026	J-GAAP
Revision Rate	+23.4%	+72.9%	+72.7%	+78.9%	+78.9%

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2026 Prev	24,580	4,355	4,357	3,027	545.4	100	May 15, 2025	J-GAAP
Mar, 2026 New	27,850	6,300	6,300	4,500	810.9	140	Jan 30, 2026	J-GAAP
Revision Rate	+13.3%	+44.7%	+44.6%	+48.7%	+48.7%

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	11,449	2,228	2,228	1,617	278.7	20	May 15, 2025	J-GAAP
Oct - Mar, 2025 Guidance	17,255	4,614	4,615	3,341	602.0	123	Jan 30, 2026	J-GAAP
YoY	+50.7%	+107.1%	+107.1%	+106.6%	+116.0%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2024	15,974	1,290	1,233	898	169.3	37	May 15, 2024	J-GAAP
Mar, 2025	18,740	2,517	2,523	1,842	317.4	37	May 15, 2025	J-GAAP
Mar, 2026 Guidance	27,850	6,300	6,300	4,500	810.9	140	Jan 30, 2026	J-GAAP
YoY	+48.6%	+150.3%	+149.7%	+144.3%	+155.5%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Oct - Dec, 2024	4,231	495	499	361	62.3	11.7	Jan 31, 2025	J-GAAP
Jan - Mar, 2025	7,218	1,733	1,729	1,256	216.4	24.0	May 15, 2025	J-GAAP
Apr - Jun, 2025	4,238	82	86	52	9.0	1.9	Jul 31, 2025	J-GAAP
Jul - Sep, 2025	6,357	1,604	1,599	1,107	193.4	25.2	Oct 31, 2025	J-GAAP
Oct - Dec, 2025	7,361	1,917	1,916	1,387	244.7	26.0	Jan 30, 2026	J-GAAP
YoY	+74.0%	+287.3%	+284.0%	+284.2%	+292.9%