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Brass Corp, Ordinary Profit Forecast for the Fiscal Year Revised Downward to an Unexpected 31% Decrease

Fri Mar 13, 2026 3:30 pm JST Earnings

2424 Brass Corporation 【J-GAAP】

Earnings Report

Brass Corporation <2424> [TSE Std] announced its financial results after the market closed on March 13th (15:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending July 2026 (August 2025 to January 2026) dropped 32.6% from the same period last year to 244 million yen, resulting in a decrease in profits compared to the previous forecast of a 16.9% increase.

In addition, the full-year forecast for consolidated ordinary profit has decreased 32.6%, from the previous forecast of 780 million yen to 526 million yen (compared to 765 million yen in the previous period). This changes the outlook from an anticipated profit increase to a projection of a 31.2% decrease in profit.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the consolidated ordinary profit for the February to July period (second half) is expected to drop 30.0% from the same period last year to 282 million yen.

In the most recent three-month period, from November to January (2Q), the consolidated ordinary profit increased 47.5% from the same period last year, reaching 413 million yen. The operating profit margin improved from 8.3% in the same period last year to 11.3%.

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Actual Results

Accumulated Results 2nd Quarter
Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Progress Rate vs. First Half Announce Accounting Standards
Aug - Jan, 2023 6,256 381 396 234 43.2 81.1 Mar 15, 2024 J-GAAP
Aug - Jan, 2024 6,461 346 362 235 44.2 47.3 Mar 14, 2025 J-GAAP
Aug - Jan, 2025 6,911 258 244 128 24.2 46.4 Mar 13, 2026 J-GAAP
YoY +7.0% -25.4% -32.6% -45.5% -45.3%

First Half Results vs. Previous Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Aug - Jan, 2025 Guidance 6,903 419 423 254 47.8 0 Sep 12, 2025 J-GAAP
Aug - Jan, 2025 Results 6,911 258 244 128 24.2 0 Mar 13, 2026 J-GAAP
Revision Rate +0.1% -38.4% -42.3% -49.6% -49.4%

Guidance Update

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Jul, 2026 Prev 14,594 773 780 468 88.0 8 Sep 12, 2025 J-GAAP
Jul, 2026 New 14,433 580 526 315 59.2 8 Mar 13, 2026 J-GAAP
Revision Rate -1.1% -25.0% -32.6% -32.7% -32.7%

Current Period Guidance

Second Half Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Feb - Jul, 2025 7,101 405 403 177 33.3 8 Sep 12, 2025 J-GAAP
Feb - Jul, 2026 Guidance 7,522 322 282 187 35.2 8 Mar 13, 2026 J-GAAP
YoY +5.9% -20.5% -30.0% +5.6% +5.6%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Jul, 2024 12,726 454 488 275 51.1 8 Sep 13, 2024 J-GAAP
Jul, 2025 13,562 751 765 412 77.5 8 Sep 12, 2025 J-GAAP
Jul, 2026 Guidance 14,433 580 526 315 59.2 8 Mar 13, 2026 J-GAAP
YoY +6.4% -22.8% -31.2% -23.5% -23.6%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Nov - Jan, 2024 3,281 272 280 183 34.4 8.3 Mar 14, 2025 J-GAAP
Feb - Apr, 2025 3,551 233 235 174 32.7 6.6 Jun 13, 2025 J-GAAP
May - Jul, 2025 3,550 172 168 3 0.6 4.8 Sep 12, 2025 J-GAAP
Aug - Oct, 2025 3,173 -163 -169 -142 -26.9 -5.1 Dec 15, 2025 J-GAAP
Nov - Jan, 2025 3,738 421 413 270 51.0 11.3 Mar 13, 2026 J-GAAP
YoY +13.9% +54.8% +47.5% +47.5% +48.2%

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