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HEIWADO, First Half Ordinary Profit Decreases by 18%, Jun-Aug Ordinary Profit Decreases by 18%

Thu Oct 1, 2026 1:30 pm JST Earnings

8276 HEIWADO CO.,LTD. 【J-GAAP】

Earnings Report

HEIWADO CO.,LTD. <8276> [TSE Prime] announced its financial results in the afternoon session on October 1st (13:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending February 2027 (March to August) decreased 17.6% from the same period last year to 6.19 billion yen. Progress toward the full-year plan of 15.2 billion yen was 40.7%, also falling below the five-year average of 47.1%.

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated ordinary profit for the September to February period (second half) is expected to grow 27.0% from the same period last year, reaching 9.01 billion yen.

In the most recent three-month period, from June to August (2Q), the consolidated ordinary profit decreased to 3.41 billion yen, an 18.2% decrease compared to the same period last year. The operating profit margin worsened from 3.4% in the same period last year to 2.6%.

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Actual Performance and Financial Trends

Accumulated Results 2nd Quarter
Fiscal Year Revenue Operating
Profit		 Ordinary
Profit		 Net
Profit		 Adj.
EPS		 Progress Rate
vs. First Half		 Announce Accounting
Standards
Mar - Aug, 2024 		216,645M 6,306M 7,070M 4,564M 88.2 48.3% Oct 3, 2024 J-GAAP
Mar - Aug, 2025 		223,539M 6,833M 7,512M 4,904M 98.2 51.4% Oct 2, 2025 J-GAAP
Mar - Aug, 2026 		230,489M 5,665M 6,190M 3,580M 72.4 40.7% Oct 1, 2026 J-GAAP
YoY +3.1% -17.1% -17.6% -27.0% -26.3%
First Half Results vs. Previous Guidance
Fiscal Year Revenue Operating
Profit		 Ordinary
Profit		 Net
Profit		 Adj.
EPS		 Adj.
Dividend		 Announce Accounting
Standards
Mar - Aug, 2026 Guidance 234,000M 6,900M 7,200M 5,000M 101.1 33 Apr 2, 2026 J-GAAP
Mar - Aug, 2026 Results 230,489M 5,665M 6,190M 3,580M 72.4 33 Oct 1, 2026 J-GAAP
Revision Rate -1.5% -17.9% -14.0% -28.4% -28.4%

Current Period Guidance

Second Half Results
Fiscal Year Revenue Operating
Profit		 Ordinary
Profit		 Net
Profit		 Adj.
EPS		 Adj.
Dividend		 Announce Accounting
Standards
Sep - Feb, 2025 		232,471M 6,480M 7,093M 4,505M 90.6 33 Apr 2, 2026 J-GAAP
Guidance
Sep - Feb, 2026 		247,511M 8,635M 9,010M 6,220M 125.8 33 Oct 1, 2026 J-GAAP
YoY +6.5% +33.3% +27.0% +38.1% +38.8%
Current Period Guidance
Fiscal Year Revenue Operating
Profit		 Ordinary
Profit		 Net
Profit		 Adj.
EPS		 Adj.
Dividend		 Announce Accounting
Standards
Feb, 2025 		444,898M 13,360M 14,639M 10,727M 209.1 63 Apr 3, 2025 J-GAAP
Feb, 2026 		456,010M 13,313M 14,605M 9,409M 189.3 66 Apr 2, 2026 J-GAAP
Guidance
Feb, 2027 		478,000M 14,300M 15,200M 9,800M 198.2 66 Apr 2, 2026 J-GAAP
YoY +4.8% +7.4% +4.1% +4.2% +4.7%

Quarterly Results

Fiscal Year Revenue Operating
Profit		 Ordinary
Profit		 Net
Profit		 Adj.
EPS		 Operating
Profit Margin		 Announce Accounting
Standards
Jun - Aug, 2025 		114,998M 3,889M 4,177M 2,735M 54.8 3.4% Oct 2, 2025 J-GAAP
Sep - Nov, 2025 		112,335M 1,783M 2,042M 999M 20.1 1.6% Dec 25, 2025 J-GAAP
Dec - Feb, 2025 		120,136M 4,697M 5,051M 3,506M 70.5 3.9% Apr 2, 2026 J-GAAP
Mar - May, 2026 		112,199M 2,571M 2,774M 1,186M 24.0 2.3% Jun 25, 2026 J-GAAP
Jun - Aug, 2026 		118,290M 3,094M 3,416M 2,394M 48.4 2.6% Oct 1, 2026 J-GAAP
YoY +2.9% -20.4% -18.2% -12.5% -11.6%

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