kabutan

HORAI, First Half Ordinary Profit Increases by 60%, Jan-Mar Ordinary Profit Decreases by 23%

Tue Apr 28, 2026 4:00 pm JST Earnings

9679 HORAI Co.,Ltd. 【J-GAAP】

Earnings Report

HORAI Co.,Ltd. <9679> [TSE Std] announced its financial results after the market closed on April 28th (16:00). The ordinary profit (non-consolidated) for the cumulative second quarter of the fiscal year ending September 2026 (October 2025 to March 2026) expanded 343 million yen, an increase 59.5% compared to the same period last year. However, Progress toward the full-year plan of 730 million yen was 47.0%, almost the same as the five-year average of 45.7%.

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the ordinary profit for the April to September period (second half) is expected to decrease 25.4% from the same period last year to 387 million yen.

In the most recent three-month period, from January to March (2Q), the ordinary profit decreased to 62 million yen, a 23.5% decrease compared to the same period last year. The operating profit margin worsened from 4.4% in the same period last year to 4.1%.

Kabutan News

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
Oct - Mar, 2023 2,489 242 326 227 54.2 45.0 Apr 26, 2024 J-GAAP
Oct - Mar, 2024 2,630 160 215 120 28.8 29.3 Apr 25, 2025 J-GAAP
Oct - Mar, 2025 3,051 290 343 223 53.4 47.0 Apr 28, 2026 J-GAAP
YoY +16.0% +81.3% +59.5% +85.8% +85.6%

First Half Results vs. Previous Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Oct - Mar, 2025 Guidance ー ー ー ー － 0 Oct 31, 2025 J-GAAP
Oct - Mar, 2025 Results 3,051 290 343 223 53.4 0 Apr 28, 2026 J-GAAP
Revision Rate － － － － －

Current Period Guidance

Second Half Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Apr - Sep, 2025 3,481 456 519 377 90.2 24 Oct 31, 2025 J-GAAP
Apr - Sep, 2026 Guidance 3,149 340 387 277 66.1 24 Apr 28, 2026 J-GAAP
YoY -9.5% -25.4% -25.4% -26.5% -26.7%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Sep, 2024 5,480 571 724 308 73.6 22 Oct 31, 2024 J-GAAP
Sep, 2025 6,111 616 734 497 118.9 24 Oct 31, 2025 J-GAAP
Sep, 2026 Guidance 6,200 630 730 500 119.3 24 Oct 31, 2025 J-GAAP
YoY +1.5% +2.3% -0.5% +0.6% +0.3%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jan - Mar, 2025 1,244 55 81 56 13.4 4.4 Apr 25, 2025 J-GAAP
Apr - Jun, 2025 1,607 227 282 190 45.5 14.1 Jul 30, 2025 J-GAAP
Jul - Sep, 2025 1,874 229 237 187 44.7 12.2 Oct 31, 2025 J-GAAP
Oct - Dec, 2025 1,625 232 281 190 45.4 14.3 Jan 29, 2026 J-GAAP
Jan - Mar, 2026 1,426 58 62 33 7.9 4.1 Apr 28, 2026 J-GAAP
YoY +14.6% +5.5% -23.5% -41.1% -41.1%

Related Articles