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CALBEE, Ordinary Profit Forecast for the Fiscal Year Revised Downward to an Unexpected 12% Decrease, Dividend Revised Upward by 6 Yen

Wed Nov 5, 2025 12:00 pm JST Earnings

2229 CALBEE,Inc. 【J-GAAP】

Earnings Report

CALBEE,Inc. <2229> [TSE Prime] announced its financial results at noon (12:00) on November 5th. The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2026 (April to September) decreased 29.8% from the same period last year to 10.3 billion yen.

In addition, the full-year forecast for consolidated ordinary profit has decreased 13.5%, from the previous forecast of 30.4 billion yen to 26.3 billion yen (compared to 29.8 billion yen in the previous period). This changes the outlook from an anticipated profit increase to a projection of an 11.9% 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 October to March period (second half) is expected to grow 5.7% from the same period last year, reaching 15.9 billion yen.

At the same time, the company has increased its planned year-end lump-sum dividend for the current fiscal year from the original plan of 60 yen to 66 yen (compared to 58 yen in the previous period).

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit decreased to 5.11 billion yen, a 6.6% decrease compared to the same period last year. The operating profit margin drastically worsened from 9.1% in the same period last year to 5.8%.

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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 147,071 13,514 16,635 10,864 87.0 53.4 Oct 31, 2023 J-GAAP
Apr - Sep, 2024 157,070 14,926 14,801 10,633 85.1 49.6 Nov 1, 2024 J-GAAP
Apr - Sep, 2025 165,746 10,158 10,397 6,788 54.3 39.5 Nov 5, 2025 J-GAAP
YoY +5.5% -31.9% -29.8% -36.2% -36.2%

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 12, 2025 J-GAAP
Apr - Sep, 2025 Results 165,746 10,158 10,397 6,788 54.3 0 Nov 5, 2025 J-GAAP
Revision Rate － － － － －

Guidance Update

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2026 Prev 345,000 29,800 30,400 20,500 168.6 60 May 12, 2025 J-GAAP
Mar, 2026 New 339,000 26,000 26,300 17,500 143.9 66 Nov 5, 2025 J-GAAP
Revision Rate -1.7% -12.8% -13.5% -14.6% -14.6%

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 165,494 14,140 15,043 10,241 82.0 58 May 12, 2025 J-GAAP
Oct - Mar, 2025 Guidance 173,254 15,842 15,903 10,712 88.1 66 Nov 5, 2025 J-GAAP
YoY +4.7% +12.0% +5.7% +4.6% +7.5%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2024 303,027 27,304 31,155 19,886 159.2 56 May 9, 2024 J-GAAP
Mar, 2025 322,564 29,066 29,844 20,874 167.1 58 May 12, 2025 J-GAAP
Mar, 2026 Guidance 339,000 26,000 26,300 17,500 143.9 66 Nov 5, 2025 J-GAAP
YoY +5.1% -10.5% -11.9% -16.2% -13.9%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2024 79,414 7,252 5,474 3,562 28.5 9.1 Nov 1, 2024 J-GAAP
Oct - Dec, 2024 86,707 10,323 11,594 7,719 61.8 11.9 Feb 6, 2025 J-GAAP
Jan - Mar, 2025 78,787 3,817 3,449 2,522 20.2 4.8 May 12, 2025 J-GAAP
Apr - Jun, 2025 82,234 5,295 5,283 3,545 28.4 6.4 Aug 1, 2025 J-GAAP
Jul - Sep, 2025 83,512 4,863 5,114 3,243 26.0 5.8 Nov 5, 2025 J-GAAP
YoY +5.2% -32.9% -6.6% -9.0% -9.0%

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