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Adastria, Mar-Nov (Cumulative 3Q) Ordinary Profit Decreases by 7%

Mon Dec 29, 2025 3:30 pm JST Earnings

2685 and ST HD Co., Ltd. 【J-GAAP】

Earnings Report

and ST HD Co., Ltd. <2685> [TSE Prime] announced its financial results after the market closed on December 29th (15:30). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending February 2026 (March to November) decreased 7.0% from the same period last year to 13.9 billion yen. Progress toward the full-year plan of 19.0 billion yen was 73.2%, also falling below the five-year average of 91.5%.

Based on the cumulative third-quarter performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated ordinary profit for the December to February period (4Q) is expected to surge 5.1 times that of the same period last year, reaching 5.08 billion yen.

In the most recent three-month period, from September to November (3Q), the consolidated ordinary profit increased 31.1% from the same period last year, reaching 6.12 billion yen. The operating profit margin improved from 6.4% in the same period last year to 7.6%.

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Actual Results

Accumulated Results 3rd Quarter
Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Progress Rate vs. First Half Announce Accounting Standards
Mar - Nov, 2023 203,252 16,306 16,708 11,541 254.1 90.9 Dec 29, 2023 J-GAAP
Mar - Nov, 2024 220,089 14,770 14,967 9,907 215.7 93.8 Dec 27, 2024 J-GAAP
Mar - Nov, 2025 227,372 13,893 13,912 9,557 207.1 73.2 Dec 29, 2025 J-GAAP
YoY +3.3% -5.9% -7.0% -3.5% -4.0%

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 148,907 5,615 5,667 2,675 58.1 55 Apr 4, 2025 J-GAAP
Sep - Feb, 2025 Guidance 155,655 11,027 11,210 6,413 139.0 45 Sep 30, 2025 J-GAAP
YoY +4.5% +96.4% +97.8% +139.7% +139.2%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Feb, 2024 275,596 18,015 18,389 13,513 297.8 85 Apr 4, 2024 J-GAAP
Feb, 2025 293,110 15,510 15,964 9,614 208.9 90 Apr 4, 2025 J-GAAP
Feb, 2026 Guidance 305,000 19,000 19,000 12,400 268.8 90 Apr 4, 2025 J-GAAP
YoY +4.1% +22.5% +19.0% +29.0% +28.7%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Sep - Nov, 2024 75,886 4,875 4,670 2,968 64.6 6.4 Dec 27, 2024 J-GAAP
Dec - Feb, 2024 73,021 740 997 -293 -6.4 1.0 Apr 4, 2025 J-GAAP
Mar - May, 2025 77,464 5,603 5,423 4,374 94.7 7.2 Jun 30, 2025 J-GAAP
Jun - Aug, 2025 71,881 2,370 2,367 1,613 35.0 3.3 Sep 30, 2025 J-GAAP
Sep - Nov, 2025 78,027 5,920 6,122 3,570 77.4 7.6 Dec 29, 2025 J-GAAP
YoY +2.8% +21.4% +31.1% +20.3% +19.7%

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