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BOURBON, First Half Ordinary Profit Decreases by 24%, Jul-Sep Ordinary Profit Decreases by 50%

Fri Oct 31, 2025 3:45 pm JST Earnings

2208 BOURBON CORPORATION 【J-GAAP】

Earnings Report

BOURBON CORPORATION <2208> [TSE Std] announced its financial results after the market closed on October 31st (15:45). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2026 (April to September) decreased 23.6% from the same period last year to 1.56 billion yen. Progress toward the full-year plan of 6.20 billion yen was 25.3%, almost the same as the five-year average of 22.4%.

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 16.3% from the same period last year to 4.63 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit significantly dropped to 0.06 billion yen, a 50.4% decrease compared to the same period last year. The operating profit/loss margin worsened from 1.9% in the same period last year to -0.2%.

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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
Apr - Sep, 2023 46,162 323 647 458 19.1 15.1 Oct 27, 2023 J-GAAP
Apr - Sep, 2024 51,281 2,060 2,055 1,721 71.7 27.1 Oct 30, 2024 J-GAAP
Apr - Sep, 2025 52,929 1,485 1,569 1,128 46.7 25.3 Oct 31, 2025 J-GAAP
YoY +3.2% -27.9% -23.6% -34.5% -34.9%

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 53,600 1,500 1,600 1,000 41.4 20 Apr 25, 2025 J-GAAP
Apr - Sep, 2025 Results 52,929 1,485 1,569 1,128 46.7 20 Oct 31, 2025 J-GAAP
Revision Rate -1.3% -1.0% -1.9% +12.8% +12.8%

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 62,194 5,410 5,530 3,845 159.7 18.50 Apr 25, 2025 J-GAAP
Oct - Mar, 2025 Guidance 65,071 4,515 4,631 3,172 131.2 20 Oct 31, 2025 J-GAAP
YoY +4.6% -16.5% -16.3% -17.5% -17.8%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2024 103,717 3,810 4,283 3,071 127.9 27 Apr 26, 2024 J-GAAP
Mar, 2025 113,475 7,470 7,585 5,566 231.2 37 Apr 25, 2025 J-GAAP
Mar, 2026 Guidance 118,000 6,000 6,200 4,300 177.9 40 Apr 25, 2025 J-GAAP
YoY +4.0% -19.7% -18.3% -22.7% -23.1%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2024 24,196 451 139 203 8.5 1.9 Oct 30, 2024 J-GAAP
Oct - Dec, 2024 31,543 2,872 3,145 1,961 81.6 9.1 Jan 30, 2025 J-GAAP
Jan - Mar, 2025 30,651 2,538 2,385 1,884 78.3 8.3 Apr 25, 2025 J-GAAP
Apr - Jun, 2025 28,314 1,525 1,500 1,013 41.9 5.4 Jul 31, 2025 J-GAAP
Jul - Sep, 2025 24,615 -40 69 115 4.8 -0.2 Oct 31, 2025 J-GAAP
YoY +1.7% － -50.4% -43.3% -43.7%

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