WADAKOHSAN, First Half Ordinary Profit Decreases by 38%, Jun-Aug Ordinary Profit Decreases by 14%

Fri Oct 2, 2026 3:30 pm JST Earnings

8931 WADAKOHSAN CORPORATION 【J-GAAP】

WADAKOHSAN CORPORATION <8931> [TSE Std] announced its financial results after the market closed on October 2nd (15:30). The ordinary profit (non-consolidated) for the cumulative second quarter of the fiscal year ending February 2027 (March to August) dropped 38.2% from the same period last year to 1.42 billion yen. Progress toward the full-year plan of 3.00 billion yen was 47.5%, almost the same as the five-year average of 48.6%.

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 September to February period (second half) is expected to decrease 6.1% from the same period last year to 1.57 billion yen.

In the most recent three-month period, from June to August (2Q), the ordinary profit decreased to 0.67 billion yen, a 14.4% decrease compared to the same period last year. The operating profit margin decreased from 10.4% in the same period last year to 9.2%.

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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	20,149M	2,176M	1,824M	1,242M	113.0	40.5%	Oct 4, 2024	J-GAAP
Mar - Aug, 2025	22,182M	2,758M	2,305M	1,647M	150.4	57.9%	Oct 3, 2025	J-GAAP
Mar - Aug, 2026	22,182M	2,049M	1,425M	962M	87.9	47.5%	Oct 2, 2026	J-GAAP
YoY	0.0%	-25.7%	-38.2%	-41.6%	-41.6%

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	22,000M	2,000M	1,350M	950M	86.7	32	Sep 18, 2026	J-GAAP
Mar - Aug, 2026 Results	22,182M	2,049M	1,425M	962M	87.9	32	Oct 2, 2026	J-GAAP
Revision Rate	+0.8%	+2.5%	+5.6%	+1.3%	+1.3%

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	19,962M	2,230M	1,677M	976M	89.1	37	Apr 10, 2026	J-GAAP
Guidance Sep - Feb, 2026	23,818M	2,251M	1,575M	1,138M	103.8	35	Oct 2, 2026	J-GAAP
YoY	+19.3%	+0.9%	-6.1%	+16.6%	+16.5%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Feb, 2025	40,130M	5,285M	4,502M	3,122M	284.5	70	Apr 11, 2025	J-GAAP
Feb, 2026	42,144M	4,988M	3,982M	2,623M	239.4	72	Apr 10, 2026	J-GAAP
Guidance Feb, 2027	46,000M	4,300M	3,000M	2,100M	191.6	67	Sep 18, 2026	J-GAAP
YoY	+9.1%	-13.8%	-24.7%	-19.9%	-20.0%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jun - Aug, 2025	9,869M	1,024M	792M	538M	49.1	10.4%	Oct 3, 2025	J-GAAP
Sep - Nov, 2025	15,408M	2,472M	2,218M	1,463M	133.6	16.0%	Jan 9, 2026	J-GAAP
Dec - Feb, 2025	4,554M	-242M	-541M	-487M	-44.5	-5.3%	Apr 10, 2026	J-GAAP
Mar - May, 2026	11,068M	1,030M	747M	617M	56.4	9.3%	Jul 10, 2026	J-GAAP
Jun - Aug, 2026	11,114M	1,019M	678M	345M	31.5	9.2%	Oct 2, 2026	J-GAAP
YoY	+12.6%	-0.5%	-14.4%	-35.9%	-35.9%

WADAKOHSAN, First Half Ordinary Profit Decreases by 38%, Jun-Aug Ordinary Profit Decreases by 14%

Actual Performance and Financial Trends

Current Period Guidance

Quarterly Results

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