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MARUHACHI HOLDINGS, Ordinary Profit Forecast for the Fiscal Year Revised Upward by 34%, Highest in Two Terms

Thu Feb 12, 2026 4:00 pm JST Earnings

3504 MARUHACHI HOLDINGS CO., LTD. 【J-GAAP】

Earnings Report

MARUHACHI HOLDINGS CO., LTD. <3504> [NSE Main] announced its financial results after the market closed on February 12th (16:00). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending March 2026 (April to December) increased 22.7% from the same period last year, reaching 3.34 billion yen.

In addition, the full-year forecast for consolidated ordinary profit has been revised upward 34.4%, from the previous forecast of 2.74 billion yen to 3.69 billion yen (compared to 2.64 billion yen in the previous period), increasing the growth rate from 3.9% to 39.6%, reaches new record high for the first time in two terms.

Based on the full-year plan announced by the company after the upward revision, our estimate of the consolidated ordinary profit for the October to March period (second half) is expected to increase 82.0%, from the previous forecast of 1.15 billion yen to 2.09 billion yen (compared to 1.39 billion yen in the same period of the previous year), turning to a 50.4% increase in the consolidated ordinary profit outlook.

In the most recent three-month period, from October to December (3Q), the consolidated ordinary profit grew 18.6% from the same period last year, reaching 1.75 billion yen. The operating profit margin rose from 17.7% in the same period last year to 21.5%.

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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 9,315 1,513 3,205 2,049 132.2 93.6 Feb 13, 2024 J-GAAP
Apr - Dec, 2024 9,315 1,317 2,730 2,362 152.4 103.2 Feb 12, 2025 J-GAAP
Apr - Dec, 2025 9,095 1,482 3,349 2,472 159.5 90.7 Feb 12, 2026 J-GAAP
YoY -2.4% +12.5% +22.7% +4.7% +4.7%

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 5,972 515 1,152 1,364 88.0 30 Nov 13, 2025 J-GAAP
Oct - Mar, 2025 New 5,972 751 2,097 2,222 143.4 30 Feb 12, 2026 J-GAAP
Revision Rate 0.0% +45.8% +82.0% +62.9% +62.9%

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2026 Prev 11,756 1,285 2,747 2,433 157.0 30 Nov 13, 2025 J-GAAP
Mar, 2026 New 11,756 1,521 3,692 3,291 212.4 30 Feb 12, 2026 J-GAAP
Revision Rate 0.0% +18.4% +34.4% +35.3% +35.3%

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 5,954 644 1,394 1,172 75.7 30 May 14, 2025 J-GAAP
Oct - Mar, 2025 Guidance 5,972 751 2,097 2,222 143.4 30 Feb 12, 2026 J-GAAP
YoY +0.3% +16.6% +50.4% +89.6% +89.5%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2024 11,829 1,433 3,425 2,327 150.2 30 May 14, 2024 J-GAAP
Mar, 2025 11,887 1,361 2,645 2,382 153.8 30 May 14, 2025 J-GAAP
Mar, 2026 Guidance 11,756 1,521 3,692 3,291 212.4 30 Feb 12, 2026 J-GAAP
YoY -1.1% +11.8% +39.6% +38.2% +38.1%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Oct - Dec, 2024 3,382 600 1,479 1,152 74.4 17.7 Feb 12, 2025 J-GAAP
Jan - Mar, 2025 2,572 44 -85 20 1.3 1.7 May 14, 2025 J-GAAP
Apr - Jun, 2025 2,980 373 552 163 10.6 12.5 Aug 12, 2025 J-GAAP
Jul - Sep, 2025 2,804 397 1,043 906 58.5 14.2 Nov 13, 2025 J-GAAP
Oct - Dec, 2025 3,311 712 1,754 1,403 90.5 21.5 Feb 12, 2026 J-GAAP
YoY -2.1% +18.7% +18.6% +21.8% +21.8%

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