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Meiwa Estate Company, Ordinary Profit Forecast for the Fiscal Year Revised Upward by 35%

Mon Feb 9, 2026 3:30 pm JST Earnings

8869 Meiwa Estate Company Limited 【J-GAAP】

Earnings Report

Meiwa Estate Company Limited <8869> [TSE Std] announced its financial results after the market closed on February 9th (15:30). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending March 2026 (April to December) surged 2.4 times that of the same period last year, reaching 7.11 billion yen.

In addition, the full-year forecast for consolidated ordinary profit has been revised upward 34.9%, from the previous forecast of 4.30 billion yen to 5.80 billion yen (compared to 3.76 billion yen in the previous period), increasing the growth rate from 14.1% to 53.9%.

Based on the full-year plan announced by the company after the upward revision, our estimate of the consolidated ordinary profit/loss for the October to March period (second half) has been revised upward from an expected loss of 2.69 billion yen to a loss of 1.19 billion yen (compared to a profit of 1.60 billion yen in the same period of the previous year), indicating a reduction in the loss margin.

In the most recent three-month period, from October to December (3Q), the consolidated ordinary profit significantly dropped to 0.12 billion yen, an 83.6% decrease compared to the same period last year. The operating profit margin drastically worsened from 5.6% in the same period last year to 2.4%.

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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 37,489 953 181 208 8.9 4.5 Feb 13, 2024 J-GAAP
Apr - Dec, 2024 58,259 4,013 2,931 2,202 93.9 77.8 Feb 10, 2025 J-GAAP
Apr - Dec, 2025 79,616 8,210 7,116 4,621 197.1 122.7 Feb 9, 2026 J-GAAP
YoY +36.7% +104.6% +142.8% +109.9% +109.9%

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 25,009 -1,407 -2,690 -1,929 -82.3 45 Nov 10, 2025 J-GAAP
Oct - Mar, 2025 New 31,009 -7 -1,190 -1,029 -43.9 45 Feb 9, 2026 J-GAAP
Revision Rate +24.0% +99.5% +55.8% +46.7% +46.7%

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2026 Prev 84,000 6,300 4,300 2,900 123.7 45 May 12, 2025 J-GAAP
Mar, 2026 New 90,000 7,700 5,800 3,800 162.1 45 Feb 9, 2026 J-GAAP
Revision Rate +7.1% +22.2% +34.9% +31.0% +31.0%

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 45,077 2,536 1,607 1,253 53.5 40 May 12, 2025 J-GAAP
Oct - Mar, 2025 Guidance 31,009 -7 -1,190 -1,029 -43.9 45 Feb 9, 2026 J-GAAP
YoY -31.2% － － － －

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2024 71,250 4,973 3,990 2,781 118.6 40 May 13, 2024 J-GAAP
Mar, 2025 79,902 5,240 3,769 2,897 123.6 40 May 12, 2025 J-GAAP
Mar, 2026 Guidance 90,000 7,700 5,800 3,800 162.1 45 Feb 9, 2026 J-GAAP
YoY +12.6% +46.9% +53.9% +31.2% +31.1%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Oct - Dec, 2024 23,434 1,309 769 558 23.8 5.6 Feb 10, 2025 J-GAAP
Jan - Mar, 2025 21,643 1,227 838 695 29.6 5.7 May 12, 2025 J-GAAP
Apr - Jun, 2025 38,043 5,808 5,286 3,658 156.0 15.3 Aug 8, 2025 J-GAAP
Jul - Sep, 2025 20,948 1,899 1,704 1,171 50.0 9.1 Nov 10, 2025 J-GAAP
Oct - Dec, 2025 20,625 503 126 -208 -8.9 2.4 Feb 9, 2026 J-GAAP
YoY -12.0% -61.6% -83.6% － －

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