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SHOEI, Oct-Dec (3Q) Ordinary Profit Decreases by 56%, Current Fiscal Year Dividend Revised Upward by 15 Yen

Tue Feb 10, 2026 4:00 pm JST Earnings

9385 SHOEI CORPORATION 【J-GAAP】

Earnings Report

SHOEI CORPORATION <9385> [TSE Std] announced its financial results after the market closed on February 10th (16:00). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending March 2026 (April to December) expanded 1.06 billion yen, an increase 68.5% compared to the same period last year. Progress toward the full-year plan of 1.33 billion yen was 80.2%, it was below the five-year average of 113.2%.

Based on the cumulative third-quarter performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated ordinary profit for the January to March period (4Q) is expected to surge 2.3 times that of the same period last year, reaching 0.26 billion yen.

At the same time, the company has significantly increased its planned year-end lump-sum dividend for the current fiscal year from the original plan of 20 yen to 35 yen (compared to 20 yen in the previous period).

In the most recent three-month period, from October to December (3Q), the consolidated ordinary profit significantly dropped to 0.45 billion yen, a 55.5% decrease compared to the same period last year. However, the operating profit margin significantly improved from 4.9% in the same period last year to 9.1%.

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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 14,739 582 1,272 1,139 147.4 88.1 Feb 9, 2024 J-GAAP
Apr - Dec, 2024 14,391 685 634 386 50.0 84.9 Feb 12, 2025 J-GAAP
Apr - Dec, 2025 14,399 1,074 1,068 705 91.2 80.2 Feb 10, 2026 J-GAAP
YoY +0.1% +56.8% +68.5% +82.6% +82.6%

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 11,223 791 722 504 65.2 20 Nov 12, 2025 J-GAAP
Oct - Mar, 2025 New 11,223 791 722 504 65.2 35 Feb 10, 2026 J-GAAP
Revision Rate 0.0% 0.0% 0.0% 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 20,545 1,401 1,332 900 116.5 20 May 14, 2025 J-GAAP
Mar, 2026 New 20,545 1,401 1,332 900 116.5 35 Feb 10, 2026 J-GAAP
Revision Rate 0.0% 0.0% 0.0% 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 9,419 297 1,143 922 119.4 20 May 14, 2025 J-GAAP
Oct - Mar, 2025 Guidance 11,223 791 722 504 65.2 35 Feb 10, 2026 J-GAAP
YoY +19.2% +166.3% -36.8% -45.3% -45.4%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2024 19,446 776 1,443 1,009 130.6 20 May 14, 2024 J-GAAP
Mar, 2025 19,031 747 747 467 60.5 20 May 14, 2025 J-GAAP
Mar, 2026 Guidance 20,545 1,401 1,332 900 116.5 35 Feb 10, 2026 J-GAAP
YoY +8.0% +87.6% +78.3% +92.7% +92.6%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Oct - Dec, 2024 4,779 235 1,030 841 108.9 4.9 Feb 12, 2025 J-GAAP
Jan - Mar, 2025 4,640 62 113 81 10.5 1.3 May 14, 2025 J-GAAP
Apr - Jun, 2025 4,650 254 266 168 21.8 5.5 Aug 8, 2025 J-GAAP
Jul - Sep, 2025 4,672 356 344 228 29.5 7.6 Nov 12, 2025 J-GAAP
Oct - Dec, 2025 5,077 464 458 309 40.0 9.1 Feb 10, 2026 J-GAAP
YoY +6.2% +97.4% -55.5% -63.3% -63.3%

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