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Heiwa, Ordinary Profit Forecast for the Fiscal Year Revised Downward by 34%

Tue Feb 10, 2026 3:30 pm JST Earnings

6412 Heiwa Corporation 【J-GAAP】

Earnings Report

Heiwa Corporation <6412> [TSE Prime] announced its financial results after the market closed on February 10th (15:30). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending March 2026 (April to December) increased 25.4% from the same period last year, reaching 35.7 billion yen.

However, the full-year forecast for consolidated ordinary profit has decreased 33.7%, from the previous forecast of 47.8 billion yen to 31.7 billion yen (compared to 21.3 billion yen in the previous period), leading to a reduction in the profit growth rate from 2.2 times to 48.6%.

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 54.7%, from the previous forecast of 29.4 billion yen to 13.3 billion yen (compared to 6.04 billion yen in the same period of the previous year), leading to a reduction in the profit growth rate from 4.9 times to 2.2 times.

In the most recent three-month period, from October to December (3Q), the consolidated ordinary profit increased 31.5% from the same period last year, reaching 17.3 billion yen. However, the operating profit margin decreased from 28.4% in the same period last year to 26.4%.

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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 102,804 19,314 18,546 11,609 117.7 81.5 Feb 9, 2024 J-GAAP
Apr - Dec, 2024 118,782 28,768 28,496 20,583 208.7 133.6 Feb 7, 2025 J-GAAP
Apr - Dec, 2025 206,554 42,916 35,747 17,056 172.9 112.8 Feb 10, 2026 J-GAAP
YoY +73.9% +49.2% +25.4% -17.1% -17.1%

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 164,429 34,893 29,414 13,293 134.8 40 Nov 13, 2025 J-GAAP
Oct - Mar, 2025 New 126,329 19,393 13,314 -1,907 -19.3 40 Feb 10, 2026 J-GAAP
Revision Rate -23.2% -44.4% -54.7% － －

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2026 Prev 295,900 58,000 47,800 23,100 234.2 80 May 14, 2025 J-GAAP
Mar, 2026 New 257,800 42,500 31,700 7,900 80.1 80 Feb 10, 2026 J-GAAP
Revision Rate -12.9% -26.7% -33.7% -65.8% -65.8%

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 74,077 12,286 6,040 2,649 26.9 40 May 14, 2025 J-GAAP
Oct - Mar, 2025 Guidance 126,329 19,393 13,314 -1,907 -19.3 40 Feb 10, 2026 J-GAAP
YoY +70.5% +57.8% +120.4% － －

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2024 136,381 23,430 22,746 16,611 168.4 80 May 10, 2024 J-GAAP
Mar, 2025 145,867 27,690 21,332 13,064 132.5 80 May 14, 2025 J-GAAP
Mar, 2026 Guidance 257,800 42,500 31,700 7,900 80.1 80 Feb 10, 2026 J-GAAP
YoY +76.7% +53.5% +48.6% -39.5% -39.5%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Oct - Dec, 2024 46,992 13,364 13,204 10,168 103.1 28.4 Feb 7, 2025 J-GAAP
Jan - Mar, 2025 27,085 -1,078 -7,164 -7,519 -76.2 -4.0 May 14, 2025 J-GAAP
Apr - Jun, 2025 70,249 15,353 13,371 8,180 82.9 21.9 Aug 8, 2025 J-GAAP
Jul - Sep, 2025 61,222 7,754 5,015 1,627 16.5 12.7 Nov 13, 2025 J-GAAP
Oct - Dec, 2025 75,083 19,809 17,361 7,249 73.5 26.4 Feb 10, 2026 J-GAAP
YoY +59.8% +48.2% +31.5% -28.7% -28.7%

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