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TOSHO, Ordinary Profit Forecast for the Fiscal Year Revised Upward to an Unexpected 18% Increase

Tue Feb 3, 2026 4:00 pm JST Earnings

8920 TOSHO CO.,LTD. 【J-GAAP】

Earnings Report

TOSHO CO.,LTD. <8920> [TSE Std] announced its financial results after the market closed on February 3rd (16:00). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending March 2026 (April to December) increased 21.9% from the same period last year, reaching 5.96 billion yen.

In addition, the full-year forecast for consolidated ordinary profit has been revised upward 19.0%, from the previous forecast of 5.88 billion yen to 7.00 billion yen (compared to 5.93 billion yen in the previous period), turning to a 17.9% 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 51.3%, from the previous forecast of 2.18 billion yen to 3.30 billion yen (compared to 3.01 billion yen in the same period of the previous year), turning to a 9.5% increase in the consolidated ordinary profit outlook.

In the most recent three-month period, from October to December (3Q), the consolidated ordinary profit grew 14.9% from the same period last year, reaching 2.27 billion yen. The operating profit margin jumped from 12.6% in the same period last year to 32.0%.

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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 19,096 2,955 3,076 1,035 27.0 75.1 Jan 31, 2024 J-GAAP
Apr - Dec, 2024 29,577 4,851 4,894 2,294 59.9 82.4 Feb 7, 2025 J-GAAP
Apr - Dec, 2025 20,951 5,954 5,967 2,718 72.0 85.2 Feb 3, 2026 J-GAAP
YoY -29.2% +22.7% +21.9% +18.5% +20.3%

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 12,948 2,198 2,184 629 17.0 5 Nov 7, 2025 J-GAAP
Oct - Mar, 2025 New 13,358 3,318 3,304 1,299 35.2 5 Feb 3, 2026 J-GAAP
Revision Rate +3.2% +51.0% +51.3% +106.5% +106.5%

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2026 Prev 26,790 5,880 5,880 2,330 63.1 10 Oct 14, 2025 J-GAAP
Mar, 2026 New 27,200 7,000 7,000 3,000 81.2 10 Feb 3, 2026 J-GAAP
Revision Rate +1.5% +19.0% +19.0% +28.8% +28.8%

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 21,731 3,004 3,018 -121 -3.2 3 May 13, 2025 J-GAAP
Oct - Mar, 2025 Guidance 13,358 3,318 3,304 1,299 35.2 5 Feb 3, 2026 J-GAAP
YoY -38.5% +10.5% +9.5% － －

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2024 30,927 3,958 4,098 -2,229 -58.2 4 May 10, 2024 J-GAAP
Mar, 2025 35,619 5,884 5,936 1,228 32.1 5 May 13, 2025 J-GAAP
Mar, 2026 Guidance 27,200 7,000 7,000 3,000 81.2 10 Feb 3, 2026 J-GAAP
YoY -23.6% +19.0% +17.9% +144.3% +153.4%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Oct - Dec, 2024 15,689 1,971 1,976 945 24.7 12.6 Feb 7, 2025 J-GAAP
Jan - Mar, 2025 6,042 1,033 1,042 -1,066 -27.8 17.1 May 13, 2025 J-GAAP
Apr - Jun, 2025 7,245 1,856 1,853 878 23.0 25.6 Aug 5, 2025 J-GAAP
Jul - Sep, 2025 6,597 1,826 1,843 823 21.7 27.7 Nov 7, 2025 J-GAAP
Oct - Dec, 2025 7,109 2,272 2,271 1,017 27.0 32.0 Feb 3, 2026 J-GAAP
YoY -54.7% +15.3% +14.9% +7.6% +9.2%

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