ARE Holdings, Net Income Forecast for the Fiscal Year Revised Upward by 11%, Dividend Revised Upward by 5 Yen

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Tue Feb 3, 2026 3:30 pm JST Earnings

5857 ARE Holdings, Inc. 【IFRS】

Earnings Report

ARE Holdings, Inc. <5857> [TSE Prime] announced its financial results (based on IFRS) after the market closed on February 3rd (15:30). The consolidated net income for the cumulative third quarter of the fiscal year ending March 2026 (April to December) expanded 19.5 billion yen, an increase 71.9% compared to the same period last year.

In addition, the full-year forecast for consolidated net income has been revised upward 10.6%, from the previous forecast of 21.6 billion yen to 23.9 billion yen (compared to 14.3 billion yen in the previous period), increasing the growth rate from 50.8% to 66.9%.

Based on the full-year plan announced by the company after the upward revision, our estimate of the consolidated net income for the October to March period (second half) is expected to increase 21.4%, from the previous forecast of 10.7 billion yen to 13.0 billion yen (compared to 7.71 billion yen in the same period of the previous year), increasing the growth rate from 39.4% to 69.2%.

In light of the strong performance, the company has increased its planned annual dividend for the current fiscal year from the original plan of 120 yen to 125 yen (compared to 80 yen in the previous period).

In the most recent three-month period, from October to December (3Q), the consolidated net income increased 82.4% from the same period last year, reaching 8.72 billion yen. The operating profit margin significantly improved from 4.8% in the same period last year to 9.1%.

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	223,307	7,912	7,950	7,097	92.6	64.0	Jan 31, 2024	IFRS
Apr - Dec, 2024	372,969	14,686	15,337	11,385	148.8	74.9	Jan 29, 2025	IFRS
Apr - Dec, 2025	384,655	28,640	26,573	19,569	255.4	81.3	Feb 3, 2026	IFRS
YoY	+3.1%	+95.0%	+73.3%	+71.9%	+71.6%

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	278,761	14,668	15,231	10,751	140.3	60	Oct 29, 2025	IFRS
Oct - Mar, 2025 New	346,761	19,668	18,831	13,051	170.3	65	Feb 3, 2026	IFRS
Revision Rate	+24.4%	+34.1%	+23.6%	+21.4%	+21.4%

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2026 Prev	517,000	30,000	29,100	21,600	281.9	120	Oct 29, 2025	IFRS
Mar, 2026 New	585,000	35,000	32,700	23,900	311.9	125	Feb 3, 2026	IFRS
Revision Rate	+13.2%	+16.7%	+12.4%	+10.6%	+10.6%

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	265,854	11,667	12,091	7,715	100.8	40	Apr 25, 2025	IFRS
Oct - Mar, 2025 Guidance	346,761	19,668	18,831	13,051	170.3	65	Feb 3, 2026	IFRS
YoY	+30.4%	+68.6%	+55.7%	+69.2%	+68.9%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2024	322,253	12,367	12,426	24,490	319.5	90	Apr 25, 2024	IFRS
Mar, 2025	506,211	19,984	20,483	14,319	187.1	80	Apr 25, 2025	IFRS
Mar, 2026 Guidance	585,000	35,000	32,700	23,900	311.9	125	Feb 3, 2026	IFRS
YoY	+15.6%	+75.1%	+59.6%	+66.9%	+66.7%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Oct - Dec, 2024	132,612	6,369	6,945	4,781	62.5	4.8	Jan 29, 2025	IFRS
Jan - Mar, 2025	133,242	5,298	5,146	2,934	38.3	4.0	Apr 25, 2025	IFRS
Apr - Jun, 2025	137,120	5,928	4,989	3,639	47.5	4.3	Jul 30, 2025	IFRS
Jul - Sep, 2025	101,119	9,404	8,880	7,210	94.1	9.3	Oct 29, 2025	IFRS
Oct - Dec, 2025	146,416	13,308	12,704	8,720	113.8	9.1	Feb 3, 2026	IFRS
YoY	+10.4%	+108.9%	+82.9%	+82.4%	+82.1%