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Ichigo, First Half Ordinary Profit Increases by 63%, Jun-Aug Ordinary Profit Increases by 3.7 times

Tue Oct 14, 2025 3:30 pm JST Earnings

2337 Ichigo Inc. 【J-GAAP】

Earnings Report

Ichigo Inc. <2337> [TSE Prime] announced its financial results after the market closed on October 14th (15:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending February 2026 (March to August) expanded 9.04 billion yen, an increase 62.9% compared to the same period last year. Progress toward the full-year plan of 14.8 billion yen was 61.1%, also surpassing the five-year average of 42.6%.

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 September to February period (second half) is expected to decrease 29.9% from the same period last year to 5.75 billion yen.

In the most recent three-month period, from June to August (2Q), the consolidated ordinary profit surged 3.7 times that of the same period last year, reaching 6.71 billion yen. However, the operating profit margin decreased from 23.5% in the same period last year to 20.2%.

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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
Mar - Aug, 2023 26,496 5,483 4,087 8,503 18.8 39.3 Oct 12, 2023 J-GAAP
Mar - Aug, 2024 36,295 6,855 5,554 5,365 12.2 40.4 Oct 10, 2024 J-GAAP
Mar - Aug, 2025 51,024 11,261 9,047 8,624 20.6 61.1 Oct 14, 2025 J-GAAP
YoY +40.6% +64.3% +62.9% +60.7% +68.0%

First Half Results vs. Previous Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar - Aug, 2025 Guidance ー ー ー ー － 0 Apr 14, 2025 J-GAAP
Mar - Aug, 2025 Results 51,024 11,261 9,047 8,624 20.6 0 Oct 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
Sep - Feb, 2024 47,281 9,454 8,210 9,822 22.6 10.50 Apr 14, 2025 J-GAAP
Sep - Feb, 2025 Guidance ー 8,239 5,753 7,376 18.0 11.50 Oct 14, 2025 J-GAAP
YoY － -12.9% -29.9% -24.9% -20.4%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Feb, 2024 82,747 12,960 10,391 12,108 26.9 9 Apr 15, 2024 J-GAAP
Feb, 2025 83,576 16,309 13,764 15,187 34.9 10.50 Apr 14, 2025 J-GAAP
Feb, 2026 Guidance ー 19,500 14,800 16,000 38.9 11.50 Apr 14, 2025 J-GAAP
YoY － +19.6% +7.5% +5.4% +11.7%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jun - Aug, 2024 11,199 2,634 1,838 1,774 4.1 23.5 Oct 10, 2024 J-GAAP
Sep - Nov, 2024 20,932 3,483 3,032 3,531 8.1 16.6 Jan 9, 2025 J-GAAP
Dec - Feb, 2024 26,349 5,971 5,178 6,291 14.4 22.7 Apr 14, 2025 J-GAAP
Mar - May, 2025 12,487 3,468 2,328 2,331 5.5 27.8 Jul 15, 2025 J-GAAP
Jun - Aug, 2025 38,537 7,793 6,719 6,293 15.0 20.2 Oct 14, 2025 J-GAAP
YoY +244.1% +195.9% +265.6% +254.7% +270.4%

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