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MARUDAI FOOD, Net Income Forecast for the Fiscal Year Revised Upward by 64%, Highest in Forty Three Terms

Thu Feb 5, 2026 12:00 pm JST Earnings

2288 MARUDAI FOOD CO.,LTD. 【J-GAAP】

Earnings Report

MARUDAI FOOD CO.,LTD. <2288> [TSE Prime] announced its financial results at noon (12:00) on February 5th. The consolidated net income for the cumulative third quarter of the fiscal year ending March 2026 (April to December) decreased 11.9% from the same period last year to 5.06 billion yen.

However, the full-year forecast for consolidated net income has been revised upward 63.6%, from the previous forecast of 5.50 billion yen to 9.00 billion yen (compared to 5.48 billion yen in the previous period), increasing the growth rate from 0.2% to 64.0%, reaches new record high for the first time in forty three terms.

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 2.5 times, from the previous forecast of 2.30 billion yen to 5.80 billion yen (compared to 1.21 billion yen in the same period of the previous year), increasing the growth rate from 89.6% to 4.8 times.

In the most recent three-month period, from October to December (3Q), the consolidated net income grew 26.6% from the same period last year, reaching 1.87 billion yen. The operating profit margin improved from 3.5% in the same period last year to 4.1%.

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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 175,908 3,218 3,526 2,435 97.6 96.9 Feb 7, 2024 J-GAAP
Apr - Dec, 2024 181,825 5,076 5,400 5,750 231.9 89.2 Feb 6, 2025 J-GAAP
Apr - Dec, 2025 183,643 6,807 7,093 5,065 206.9 95.9 Feb 5, 2026 J-GAAP
YoY +1.0% +34.1% +31.4% -11.9% -10.8%

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 117,710 2,790 2,958 2,306 94.2 65 Nov 10, 2025 J-GAAP
Oct - Mar, 2025 New 117,710 2,790 2,958 5,806 237.2 65 Feb 5, 2026 J-GAAP
Revision Rate 0.0% 0.0% 0.0% +151.8% +151.8%

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2026 Prev 238,000 7,000 7,400 5,500 224.7 65 Nov 10, 2025 J-GAAP
Mar, 2026 New 238,000 7,000 7,400 9,000 367.7 65 Feb 5, 2026 J-GAAP
Revision Rate 0.0% 0.0% 0.0% +63.6% +63.6%

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 116,388 2,587 2,913 1,216 49.2 50 May 14, 2025 J-GAAP
Oct - Mar, 2025 Guidance 117,710 2,790 2,958 5,806 237.2 65 Feb 5, 2026 J-GAAP
YoY +1.1% +7.8% +1.5% +377.5% +382.1%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2024 228,808 3,117 3,639 -9,414 -377.7 20 May 13, 2024 J-GAAP
Mar, 2025 234,970 5,469 6,056 5,488 222.1 50 May 14, 2025 J-GAAP
Mar, 2026 Guidance 238,000 7,000 7,400 9,000 367.7 65 Feb 5, 2026 J-GAAP
YoY +1.3% +28.0% +22.2% +64.0% +65.6%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Oct - Dec, 2024 63,243 2,194 2,257 1,478 59.6 3.5 Feb 6, 2025 J-GAAP
Jan - Mar, 2025 53,145 393 656 -262 -10.6 0.7 May 14, 2025 J-GAAP
Apr - Jun, 2025 59,383 2,014 2,026 1,421 58.1 3.4 Aug 6, 2025 J-GAAP
Jul - Sep, 2025 60,907 2,196 2,416 1,773 72.4 3.6 Nov 10, 2025 J-GAAP
Oct - Dec, 2025 63,353 2,597 2,651 1,871 76.4 4.1 Feb 5, 2026 J-GAAP
YoY +0.2% +18.4% +17.5% +26.6% +28.2%

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