MUTOH HOLDINGS, Ordinary Profit Forecast for the Fiscal Year Revised Downward by 29%, Second Half Dividend Postponed

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Wed Feb 4, 2026 6:00 pm JST Earnings

7999 MUTOH HOLDINGS CO., LTD. 【J-GAAP】

Earnings Report

MUTOH HOLDINGS CO., LTD. <7999> [TSE Std] announced its financial results after the market closed on February 4th (18:00). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending March 2026 (April to December) dropped 43.8% from the same period last year to 0.60 billion yen.

In addition, the full-year forecast for consolidated ordinary profit has decreased 29.1%, from the previous forecast of 1.10 billion yen to 0.78 billion yen (compared to 1.27 billion yen in the previous period), leading to an increase in the profit decline rate from 13.6% to 38.7%. However, the full-year forecast for consolidated net income has been revised upward 15 times, from the previous forecast of 0.70 billion yen to 10.3 billion yen (compared to 1.37 billion yen in the previous period), reaches new record high for the first time in thirty five terms, turning to a 7.5 times increase in the consolidated net income outlook.

Based on the full-year plan announced by the company after the downward revision, our estimate of the consolidated ordinary profit for the October to March period (second half) has decreased 47.5%, from the previous forecast of 0.67 billion yen to 0.35 billion yen (compared to 0.57 billion yen in the same period of the previous year). This changes the outlook from an anticipated profit increase to a projection of a 38.4% decrease in profit.

At the same time, In conjunction with a Tender Offer Bid (TOB), the company has decided to forgo the the second half of 39 yen for the current fiscal year.

In the most recent three-month period, from October to December (3Q), the consolidated ordinary profit significantly dropped to 0.17 billion yen, a 52.8% decrease compared to the same period last year. The operating profit margin worsened from 8.0% in the same period last year to 5.4%.

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	12,902	866	776	521	114.1	66.2	Feb 14, 2024	J-GAAP
Apr - Dec, 2024	13,618	1,075	1,069	1,316	287.9	84.0	Feb 13, 2025	J-GAAP
Apr - Dec, 2025	13,168	725	601	381	83.1	77.1	Feb 4, 2026	J-GAAP
YoY	-3.3%	-32.6%	-43.8%	-71.0%	-71.1%

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	9,740	613	674	490	106.8	39	Nov 14, 2025	J-GAAP
Oct - Mar, 2025 New	9,411	413	354	10,147	2,210.8	0	Feb 4, 2026	J-GAAP
Revision Rate	-3.4%	-32.6%	-47.5%	+1,970.8%	+1,970.9%

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2026 Prev	18,500	1,100	1,100	700	152.5	77	May 14, 2025	J-GAAP
Mar, 2026 New	18,171	900	780	10,357	2,256.6	38	Feb 4, 2026	J-GAAP
Revision Rate	-1.8%	-18.2%	-29.1%	+1,379.6%	+1,379.6%

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	9,216	620	575	330	72.2	84	May 14, 2025	J-GAAP
Oct - Mar, 2025 Guidance	9,411	413	354	10,147	2,210.8	0	Feb 4, 2026	J-GAAP
YoY	+2.1%	-33.4%	-38.4%	+2,974.8%	+2,963.4%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2024	17,507	1,246	1,172	764	167.2	65	May 14, 2024	J-GAAP
Mar, 2025	18,128	1,317	1,273	1,373	300.3	120	May 14, 2025	J-GAAP
Mar, 2026 Guidance	18,171	900	780	10,357	2,256.6	38	Feb 4, 2026	J-GAAP
YoY	+0.2%	-31.7%	-38.7%	+654.3%	+651.5%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Oct - Dec, 2024	4,706	378	371	273	59.7	8.0	Feb 13, 2025	J-GAAP
Jan - Mar, 2025	4,510	242	204	57	12.5	5.4	May 14, 2025	J-GAAP
Apr - Jun, 2025	4,526	317	345	204	44.8	7.0	Aug 8, 2025	J-GAAP
Jul - Sep, 2025	4,234	170	81	6	1.3	4.0	Nov 14, 2025	J-GAAP
Oct - Dec, 2025	4,408	238	175	171	37.3	5.4	Feb 4, 2026	J-GAAP
YoY	-6.3%	-37.0%	-52.8%	-37.4%	-37.5%