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As Partners, First Half Ordinary Profit Increases by 21%, Exceeds Full-Year Plan

Fri Nov 14, 2025 4:00 pm JST Earnings

160A As Partners CO.,LTD. 【J-GAAP】

Earnings Report

As Partners CO.,LTD. <160A> [TSE Std] announced its financial results after the market closed on November 14th (16:00). The ordinary profit (non-consolidated) for the cumulative second quarter of the fiscal year ending March 2026 (April to September) increased 20.7% from the same period last year, reaching 1.60 billion yen. Progress toward the full-year plan of 1.50 billion yen is 106.3%, already exceeding the target and also exceeding the same period of the previous year of 98.4%.

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the ordinary profit/loss for the October to March period (second half) is expected to turn into a loss of 0.09 billion yen (compared to a profit of 0.02 billion yen in the same period last year).

In the most recent three-month period, from July to September (2Q), the ordinary profit significantly dropped to 0.15 billion yen, an 89.0% decrease compared to the same period last year. The operating profit margin sharply declined from 20.0% in the same period last year to 2.5%.

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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
Apr - Sep, 2024 10,587 1,303 1,328 904 256.3 98.4 Nov 13, 2024 J-GAAP
Apr - Sep, 2025 13,610 1,528 1,603 1,092 305.3 106.3 Nov 14, 2025 J-GAAP
YoY +28.6% +17.3% +20.7% +20.8% +19.1%

First Half Results vs. Previous Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Apr - Sep, 2025 Guidance ー ー ー ー － 0 May 14, 2025 J-GAAP
Apr - Sep, 2025 Results 13,610 1,528 1,603 1,092 305.3 0 Nov 14, 2025 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
Oct - Mar, 2024 7,330 2 22 52 14.7 55 May 14, 2025 J-GAAP
Oct - Mar, 2025 Guidance 10,253 -68 -95 -27 -7.5 65 Nov 14, 2025 J-GAAP
YoY +39.9% － － － －

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2024 17,150 805 865 563 186.0 38 May 14, 2024 J-GAAP
Mar, 2025 17,917 1,305 1,350 956 269.7 55 May 14, 2025 J-GAAP
Mar, 2026 Guidance 23,863 1,460 1,508 1,065 297.5 65 May 14, 2025 J-GAAP
YoY +33.2% +11.9% +11.7% +11.4% +10.3%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2024 6,600 1,322 1,362 935 265.1 20.0 Nov 13, 2024 J-GAAP
Oct - Dec, 2024 3,572 8 17 1 0.3 0.2 Feb 13, 2025 J-GAAP
Jan - Mar, 2025 3,758 -6 5 51 14.4 -0.2 May 14, 2025 J-GAAP
Apr - Jun, 2025 8,991 1,413 1,453 1,000 279.7 15.7 Aug 14, 2025 J-GAAP
Jul - Sep, 2025 4,619 115 150 92 25.7 2.5 Nov 14, 2025 J-GAAP
YoY -30.0% -91.3% -89.0% -90.2% -90.3%

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