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FIRST BAKING, Last Fiscal Year's Ordinary Profit Unexpectedly Declines, 30% Decrease in The Current Fiscal Year

Fri Feb 13, 2026 4:00 pm JST Earnings

2215 FIRST BAKING CO.,LTD. 【J-GAAP】

Earnings Report

FIRST BAKING CO.,LTD. <2215> [TSE Std] announced its financial results after the market closed on February 13th (16:00). The consolidated ordinary profit for the fiscal year ended December 2025 decreased by 25.4% from the previous period to 446 million yen, falling below the forecast of 630 million yen, a complete reversal from the forecasted increase in profit. For the fiscal year ending December 2026, the consolidated ordinary profit is expected to drop by 30.5% from the previous period to 310 million yen. This will be the third consecutive term of declining profits.

In the most recent three-month period, from October to December (4Q), the consolidated ordinary profit surged 5.2 times that of the same period last year, reaching 260 million yen. The operating profit margin improved from 0.8% in the same period last year to 3.5%.

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Actual Results

Historical Performance
Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Dec, 2023 26,442 597 617 474 68.5 0 Feb 14, 2024 J-GAAP
Dec, 2024 27,183 604 598 2,055 296.8 0 Feb 14, 2025 J-GAAP
Dec, 2025 28,957 466 446 320 46.3 0 Feb 13, 2026 J-GAAP
YoY +6.5% -22.8% -25.4% -84.4% -84.4%

Full Year Results vs. Previous Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Dec, 2025 Guidance 29,100 660 630 450 65.0 0 Feb 14, 2025 J-GAAP
Dec, 2025 Results 28,957 466 446 320 46.3 0 Feb 13, 2026 J-GAAP
Revision Rate -0.5% -29.4% -29.2% -28.9% -28.7%

Current Period Guidance

H1 Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Jan - Jun, 2025 14,008 139 139 72 10.4 0 Aug 14, 2025 J-GAAP
Jan - Jun, 2026 Guidance ー ー ー ー － 0 Feb 13, 2026 J-GAAP
YoY － － － － －

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Dec, 2024 27,183 604 598 2,055 296.8 0 Feb 14, 2025 J-GAAP
Dec, 2025 28,957 466 446 320 46.3 0 Feb 13, 2026 J-GAAP
Dec, 2026 Guidance 32,900 370 310 180 26.0 0 Feb 13, 2026 J-GAAP
YoY +13.6% -20.6% -30.5% -43.8% -43.9%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Oct - Dec, 2024 6,907 54 50 167 24.1 0.8 Feb 14, 2025 J-GAAP
Jan - Mar, 2025 6,731 74 72 38 5.6 1.1 May 15, 2025 J-GAAP
Apr - Jun, 2025 7,277 65 67 34 4.9 0.9 Aug 14, 2025 J-GAAP
Jul - Sep, 2025 7,138 52 47 31 4.5 0.7 Nov 14, 2025 J-GAAP
Oct - Dec, 2025 7,811 275 260 217 31.4 3.5 Feb 13, 2026 J-GAAP
YoY +13.1% +409.3% +420.0% +29.9% +30.3%

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