DOWA HOLDINGS, Net Income Forecast for the Fiscal Year Revised Upward by 74%, Highest in Four Terms, Dividend Revised Upward by 135 Yen

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Tue Feb 10, 2026 3:30 pm JST Earnings

5714 DOWA HOLDINGS CO.,LTD. 【J-GAAP】

Earnings Report

DOWA HOLDINGS CO.,LTD. <5714> [TSE Prime] 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) decreased 21.9% from the same period last year to 18.5 billion yen.

However, the full-year forecast for consolidated net income has been revised upward 74.2%, from the previous forecast of 31.0 billion yen to 54.0 billion yen (compared to 27.1 billion yen in the previous period), increasing the growth rate from 14.3% to 99.1%, reaches new record high for the first time in four 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 2.3 times, from the previous forecast of 17.3 billion yen to 40.3 billion yen (compared to 6.60 billion yen in the same period of the previous year), increasing the growth rate from 2.6 times to 6.1 times.

In light of the strong performance, the company has significantly increased its planned year-end lump-sum dividend for the current fiscal year from the original plan of 183 yen to 318 yen (compared to 150 yen in the previous period).

In the most recent three-month period, from October to December (3Q), the consolidated net income increased 51.2% from the same period last year, reaching 4.94 billion yen. However, the operating profit margin worsened from 2.5% in the same period last year to 0.5%.

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	551,675	22,653	33,138	24,020	403.5	74.1	Feb 9, 2024	J-GAAP
Apr - Dec, 2024	517,252	25,635	34,519	23,792	399.6	79.2	Feb 12, 2025	J-GAAP
Apr - Dec, 2025	498,722	12,711	21,944	18,572	311.9	48.8	Feb 10, 2026	J-GAAP
YoY	-3.6%	-50.4%	-36.4%	-21.9%	-22.0%

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	378,812	16,750	27,388	17,375	291.7	183	Nov 12, 2025	J-GAAP
Oct - Mar, 2025 New	392,812	15,250	29,388	40,375	677.9	318	Feb 10, 2026	J-GAAP
Revision Rate	+3.7%	-9.0%	+7.3%	+132.4%	+132.4%

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2026 Prev	696,000	28,500	43,000	31,000	520.5	183	Nov 12, 2025	J-GAAP
Mar, 2026 New	710,000	27,000	45,000	54,000	906.6	318	Feb 10, 2026	J-GAAP
Revision Rate	+2.0%	-5.3%	+4.7%	+74.2%	+74.2%

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	326,079	10,755	16,605	6,608	111.0	150	May 13, 2025	J-GAAP
Oct - Mar, 2025 Guidance	392,812	15,250	29,388	40,375	677.9	318	Feb 10, 2026	J-GAAP
YoY	+20.5%	+41.8%	+77.0%	+511.0%	+510.8%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2024	717,194	30,003	44,745	27,853	467.9	130	May 10, 2024	J-GAAP
Mar, 2025	678,672	32,226	43,598	27,128	455.6	150	May 13, 2025	J-GAAP
Mar, 2026 Guidance	710,000	27,000	45,000	54,000	906.6	318	Feb 10, 2026	J-GAAP
YoY	+4.6%	-16.2%	+3.2%	+99.1%	+99.0%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Oct - Dec, 2024	164,659	4,164	7,526	3,272	55.0	2.5	Feb 12, 2025	J-GAAP
Jan - Mar, 2025	161,420	6,591	9,079	3,336	56.0	4.1	May 13, 2025	J-GAAP
Apr - Jun, 2025	160,129	6,494	8,616	6,401	107.5	4.1	Aug 8, 2025	J-GAAP
Jul - Sep, 2025	157,059	5,256	6,996	7,224	121.3	3.3	Nov 12, 2025	J-GAAP
Oct - Dec, 2025	181,534	961	6,332	4,947	83.1	0.5	Feb 10, 2026	J-GAAP
YoY	+10.2%	-76.9%	-15.9%	+51.2%	+51.2%