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CHANGE Holdings, Apr-Dec (Cumulative 3Q) Net Income Decreases by 16%, Oct-Dec Net Income Decreases by 13%

Thu Feb 12, 2026 3:30 pm JST Earnings

3962 CHANGE Holdings, Inc. 【IFRS】

Earnings Report

CHANGE Holdings, Inc. <3962> [TSE Prime] announced its financial results (based on IFRS) after the market closed on February 12th (15:30). The consolidated net income for the cumulative third quarter of the fiscal year ending March 2026 (April to December) decreased 16.2% from the same period last year to 6.88 billion yen. Progress toward the full-year plan of 7.90 billion yen was 87.1%, below the three-year average of 121.9%.

Based on the cumulative third-quarter performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated net income/loss for the January to March period (4Q) is expected to turn into a profit of 1.02 billion yen (compared to a loss of 0.67 billion yen in the same period last year).

In the most recent three-month period, from October to December (3Q), the consolidated net income decreased to 5.32 billion yen, a 13.2% decrease compared to the same period last year. The operating profit margin decreased from 50.1% in the same period last year to 42.0%.

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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 28,798 10,199 10,194 6,951 96.1 140.6 Feb 14, 2024 IFRS
Apr - Dec, 2024 34,937 13,044 12,511 8,208 116.9 98.2 Feb 13, 2025 IFRS
Apr - Dec, 2025 41,527 10,586 10,772 6,882 98.9 81.5 Feb 12, 2026 IFRS
YoY +18.9% -18.8% -13.9% -16.2% -15.4%

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 29,875 9,702 9,292 5,456 77.9 20.90 May 15, 2025 IFRS
Oct - Mar, 2025 Guidance 32,734 11,500 10,479 6,343 91.2 23 Nov 13, 2025 IFRS
YoY +9.6% +18.5% +12.8% +16.3% +17.1%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2024 37,015 7,383 7,250 4,262 58.9 18.70 May 15, 2024 IFRS
Mar, 2025 46,387 13,515 12,745 7,532 107.5 20.90 May 15, 2025 IFRS
Mar, 2026 Guidance 55,000 14,000 13,223 7,904 113.6 23 May 15, 2025 IFRS
YoY +18.6% +3.6% +3.8% +4.9% +5.7%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Oct - Dec, 2024 18,425 9,231 9,058 6,132 87.3 50.1 Feb 13, 2025 IFRS
Jan - Mar, 2025 11,450 471 234 -676 -9.7 4.1 May 15, 2025 IFRS
Apr - Jun, 2025 9,908 678 889 469 6.7 6.8 Aug 14, 2025 IFRS
Jul - Sep, 2025 12,358 1,822 1,855 1,092 15.7 14.7 Nov 13, 2025 IFRS
Oct - Dec, 2025 19,261 8,086 8,028 5,321 76.5 42.0 Feb 12, 2026 IFRS
YoY +4.5% -12.4% -11.4% -13.2% -12.4%

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