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NIHON KOHDEN, Ordinary Profit Forecast for the Fiscal Year Revised Downward by 8%

Thu Feb 5, 2026 3:30 pm JST Earnings

6849 NIHON KOHDEN CORPORATION 【J-GAAP】

Earnings Report

NIHON KOHDEN CORPORATION <6849> [TSE Prime] announced its financial results after the market closed on February 5th (15:30). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending March 2026 (April to December) decreased 12.0% from the same period last year to 11.8 billion yen.

In addition, the full-year forecast for consolidated ordinary profit has decreased 8.3%, from the previous forecast of 24.0 billion yen to 22.0 billion yen (compared to 20.3 billion yen in the previous period), leading to a reduction in the profit growth rate from 17.8% to 8.0%.

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 11.6%, from the previous forecast of 17.2 billion yen to 15.2 billion yen (compared to 18.2 billion yen in the same period of the previous year), leading to an increase in the profit decline rate from 5.3% to 16.3%.

In the most recent three-month period, from October to December (3Q), the consolidated ordinary profit significantly dropped to 5.15 billion yen, a 54.7% decrease compared to the same period last year. The operating profit margin sharply declined from 10.5% in the same period last year to 4.3%.

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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 156,169 10,515 13,258 7,926 47.1 51.8 Feb 2, 2024 J-GAAP
Apr - Dec, 2024 158,476 10,935 13,506 8,137 48.8 66.3 Feb 5, 2025 J-GAAP
Apr - Dec, 2025 164,013 9,134 11,882 6,408 39.3 54.0 Feb 5, 2026 J-GAAP
YoY +3.5% -16.5% -12.0% -21.2% -19.4%

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 131,880 17,259 17,268 7,976 49.1 16 Nov 10, 2025 J-GAAP
Oct - Mar, 2025 New 126,880 13,259 15,268 7,976 49.1 16 Feb 5, 2026 J-GAAP
Revision Rate -3.8% -23.2% -11.6% 0.0% 0.0%

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2026 Prev 240,000 24,000 24,000 12,500 77.0 32 Nov 10, 2025 J-GAAP
Mar, 2026 New 235,000 20,000 22,000 12,500 77.0 32 Feb 5, 2026 J-GAAP
Revision Rate -2.1% -16.7% -8.3% 0.0% 0.0%

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 122,640 15,599 18,234 13,635 82.1 16 May 13, 2025 J-GAAP
Oct - Mar, 2025 Guidance 126,880 13,259 15,268 7,976 49.1 16 Feb 5, 2026 J-GAAP
YoY +3.5% -15.0% -16.3% -41.5% -40.2%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2024 221,986 19,591 25,589 17,026 101.2 30.50 May 13, 2024 J-GAAP
Mar, 2025 225,424 20,713 20,373 14,098 84.9 31 May 13, 2025 J-GAAP
Mar, 2026 Guidance 235,000 20,000 22,000 12,500 77.0 32 Feb 5, 2026 J-GAAP
YoY +4.2% -3.4% +8.0% -11.3% -9.3%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Oct - Dec, 2024 55,692 5,821 11,367 7,674 46.0 10.5 Feb 5, 2025 J-GAAP
Jan - Mar, 2025 66,948 9,778 6,867 5,961 35.9 14.6 May 13, 2025 J-GAAP
Apr - Jun, 2025 50,020 1,400 473 137 0.8 2.8 Aug 6, 2025 J-GAAP
Jul - Sep, 2025 58,100 5,341 6,259 4,387 26.9 9.2 Nov 10, 2025 J-GAAP
Oct - Dec, 2025 55,893 2,393 5,150 1,884 11.6 4.3 Feb 5, 2026 J-GAAP
YoY +0.4% -58.9% -54.7% -75.4% -74.9%

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