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CDS, Ordinary Profit Forecast for the Fiscal Year Revised Downward to an Unexpected 37% Decrease

Fri Aug 8, 2025 3:30 pm JST Earnings

2169 CDS Co.,Ltd. 【J-GAAP】

Earnings Report

CDS Co.,Ltd. <2169> [TSE Std] announced its financial results after the market closed on August 8th (15:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending December 2025 (January to June) dropped 31.6% from the same period last year to 0.46 billion yen, fell short of the previous forecast of 0.61 billion yen.

In addition, the full-year forecast for consolidated ordinary profit has decreased 38.3%, from the previous forecast of 1.52 billion yen to 0.94 billion yen (compared to 1.50 billion yen in the previous period). This changes the outlook from an anticipated profit increase to a projection of a 37.4% decrease in profit.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the consolidated ordinary profit for the July to December period (second half) is expected to drop 42.2% from the same period last year to 0.47 billion yen.

In the most recent three-month period, from April to June (2Q), the consolidated ordinary profit dropped to 0.13 billion yen, a 38.5% decrease compared to the same period last year. The operating profit margin drastically worsened from 9.7% in the same period last year to 6.2%.

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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
Jan - Jun, 2023 4,953 787 788 529 77.7 53.7 Aug 10, 2023 J-GAAP
Jan - Jun, 2024 4,990 685 681 453 66.5 45.2 Aug 9, 2024 J-GAAP
Jan - Jun, 2025 4,653 460 466 311 45.7 49.5 Aug 8, 2025 J-GAAP
YoY -6.8% -32.8% -31.6% -31.3% -31.4%

First Half Results vs. Previous Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Jan - Jun, 2025 Guidance 4,965 621 614 431 63.2 37 Feb 13, 2025 J-GAAP
Jan - Jun, 2025 Results 4,653 460 466 311 45.7 37 Aug 8, 2025 J-GAAP
Revision Rate -6.3% -25.9% -24.1% -27.8% -27.7%

Guidance Update

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Dec, 2025 Prev 10,788 1,538 1,527 1,058 155.1 74 Feb 13, 2025 J-GAAP
Dec, 2025 New 9,259 939 942 628 92.1 74 Aug 8, 2025 J-GAAP
Revision Rate -14.2% -38.9% -38.3% -40.6% -40.6%

Current Period Guidance

Second Half Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Jul - Dec, 2024 5,502 821 824 603 88.5 44 Feb 13, 2025 J-GAAP
Jul - Dec, 2025 Guidance 4,606 479 476 317 46.5 37 Aug 8, 2025 J-GAAP
YoY -16.3% -41.7% -42.2% -47.4% -47.5%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Dec, 2023 9,722 1,465 1,467 998 146.4 66 Feb 13, 2024 J-GAAP
Dec, 2024 10,492 1,506 1,505 1,056 154.9 78 Feb 13, 2025 J-GAAP
Dec, 2025 Guidance 9,259 939 942 628 92.1 74 Aug 8, 2025 J-GAAP
YoY -11.8% -37.6% -37.4% -40.5% -40.6%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Apr - Jun, 2024 2,243 218 218 139 20.4 9.7 Aug 9, 2024 J-GAAP
Jul - Sep, 2024 2,804 387 390 262 38.5 13.8 Nov 12, 2024 J-GAAP
Oct - Dec, 2024 2,698 434 434 341 50.0 16.1 Feb 13, 2025 J-GAAP
Jan - Mar, 2025 2,620 333 332 224 33.0 12.7 May 13, 2025 J-GAAP
Apr - Jun, 2025 2,033 127 134 87 12.8 6.2 Aug 8, 2025 J-GAAP
YoY -9.4% -41.7% -38.5% -37.4% -37.4%

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