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FORVAL, Net Income Forecast for the Fiscal Year Revised Downward to an Unexpected 35% Decrease

Tue Feb 10, 2026 3:30 pm JST Earnings

8275 FORVAL CORPORATION 【J-GAAP】

Earnings Report

FORVAL CORPORATION <8275> [TSE Std] announced its financial results after the market closed on February 10th (15:30). The consolidated net income for the cumulative third quarter of the fiscal year ending March 2026 (April to December) significantly dropped 75.5% from the same period last year to 0.33 billion yen.

In addition, the full-year forecast for consolidated net income has decreased 36.4%, from the previous forecast of 2.20 billion yen to 1.40 billion yen (compared to 2.16 billion yen in the previous period). This changes the outlook from an anticipated profit increase to a projection of a 35.4% decrease in profit.

Based on the full-year plan announced by the company after the downward revision, our estimate of the consolidated net income for the October to March period (second half) has decreased 50.1%, from the previous forecast of 1.59 billion yen to 0.79 billion yen (compared to 1.34 billion yen in the same period of the previous year). This changes the outlook from an anticipated profit increase to a projection of a 40.8% decrease in profit.

In the most recent three-month period, from October to December (3Q), the consolidated net income/loss turned to a loss of 0.26 billion yen (compared to a profit of 0.55 billion yen in the same period last year). However, the operating profit margin improved from 4.1% in the same period last year to 5.1%.

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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 45,981 1,911 2,109 1,236 48.1 61.0 Feb 9, 2024 J-GAAP
Apr - Dec, 2024 51,957 2,343 2,477 1,370 52.5 62.3 Feb 12, 2025 J-GAAP
Apr - Dec, 2025 51,555 2,102 2,320 335 12.9 55.2 Feb 10, 2026 J-GAAP
YoY -0.8% -10.3% -6.3% -75.5% -75.4%

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 42,066 2,898 2,852 1,598 61.2 31 Nov 12, 2025 J-GAAP
Oct - Mar, 2025 New 42,066 2,898 2,852 798 30.6 31 Feb 10, 2026 J-GAAP
Revision Rate 0.0% 0.0% 0.0% -50.1% -50.1%

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2026 Prev 76,000 4,100 4,200 2,200 84.2 31 May 13, 2025 J-GAAP
Mar, 2026 New 76,000 4,100 4,200 1,400 53.6 31 Feb 10, 2026 J-GAAP
Revision Rate 0.0% 0.0% 0.0% -36.4% -36.4%

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 38,790 2,144 2,276 1,348 51.6 30 May 13, 2025 J-GAAP
Oct - Mar, 2025 Guidance 42,066 2,898 2,852 798 30.6 31 Feb 10, 2026 J-GAAP
YoY +8.4% +35.2% +25.3% -40.8% -40.8%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2024 63,527 3,235 3,459 2,011 78.2 28 May 13, 2024 J-GAAP
Mar, 2025 72,629 3,740 3,975 2,168 83.1 30 May 13, 2025 J-GAAP
Mar, 2026 Guidance 76,000 4,100 4,200 1,400 53.6 31 Feb 10, 2026 J-GAAP
YoY +4.6% +9.6% +5.7% -35.4% -35.5%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Oct - Dec, 2024 18,118 747 778 550 21.1 4.1 Feb 12, 2025 J-GAAP
Jan - Mar, 2025 20,672 1,397 1,498 798 30.6 6.8 May 13, 2025 J-GAAP
Apr - Jun, 2025 15,998 205 246 64 2.5 1.3 Aug 8, 2025 J-GAAP
Jul - Sep, 2025 17,936 997 1,102 538 20.6 5.6 Nov 12, 2025 J-GAAP
Oct - Dec, 2025 17,621 900 972 -267 -10.3 5.1 Feb 10, 2026 J-GAAP
YoY -2.7% +20.5% +24.9% － －

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