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WATANABE SATO, First Half Ordinary Profit Turns to Profit

Mon Nov 10, 2025 1:00 pm JST Earnings

1807 WATANABE SATO CO., LTD. 【J-GAAP】

Earnings Report

WATANABE SATO CO., LTD. <1807> [TSE Std] announced its financial results in the afternoon session on November 10th (13:00). The consolidated ordinary profit/loss for the cumulative second quarter of the fiscal year ending March 2026 (April to September) turned into a profit of 0.03 billion yen (compared to a loss of 0.26 billion yen in the same period last year). However, Progress toward the full-year plan of 1.30 billion yen was 2.5%, also falling below the five-year average of 24.3%.

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 October to March period (second half) is expected to decrease 20.3% from the same period last year to 1.26 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit surged 2.9 times that of the same period last year, reaching 0.13 billion yen. The operating profit margin improved from 0.3% in the same period last year to 1.3%.

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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
Apr - Sep, 2023 16,109 202 240 155 25.5 13.6 Nov 9, 2023 J-GAAP
Apr - Sep, 2024 16,135 -342 -262 -250 -40.2 ー Nov 7, 2024 J-GAAP
Apr - Sep, 2025 15,159 -139 33 21 3.5 2.5 Nov 10, 2025 J-GAAP
YoY -6.0% +59.4% － － －

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 － 40 May 12, 2025 J-GAAP
Apr - Sep, 2025 Results 15,159 -139 33 21 3.5 40 Nov 10, 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 24,287 1,519 1,590 1,141 183.4 40 May 12, 2025 J-GAAP
Oct - Mar, 2025 Guidance 21,841 1,339 1,267 829 132.8 40 Nov 10, 2025 J-GAAP
YoY -10.1% -11.8% -20.3% -27.3% -27.6%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2024 38,400 1,650 1,764 1,202 195.5 75 May 10, 2024 J-GAAP
Mar, 2025 40,422 1,177 1,328 891 143.2 80 May 12, 2025 J-GAAP
Mar, 2026 Guidance 37,000 1,200 1,300 850 136.1 80 May 12, 2025 J-GAAP
YoY -8.5% +2.0% -2.1% -4.6% -4.9%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2024 8,907 31 47 19 3.1 0.3 Nov 7, 2024 J-GAAP
Oct - Dec, 2024 10,827 577 596 407 65.8 5.3 Feb 7, 2025 J-GAAP
Jan - Mar, 2025 13,460 942 994 734 118.0 7.0 May 12, 2025 J-GAAP
Apr - Jun, 2025 7,322 -241 -105 -82 -13.2 -3.3 Aug 7, 2025 J-GAAP
Jul - Sep, 2025 7,837 102 138 103 17.1 1.3 Nov 10, 2025 J-GAAP
YoY -12.0% +229.0% +193.6% +442.1% +459.7%

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