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CVS Bay Area, Mar-Nov (Cumulative 3Q) Net Income Turns to Loss, Sep-Nov Net Income Decreases by 63%

Fri Jan 9, 2026 3:30 pm JST Earnings

2687 CVS Bay Area Inc. 【J-GAAP】

Earnings Report

CVS Bay Area Inc. <2687> [TSE Std] announced its financial results after the market closed on January 9th (15:30). The consolidated net income/loss for the cumulative third quarter of the fiscal year ending February 2026 (March to November) turned into a loss of 27 million yen (compared to a profit of 919 million yen in the same period last year).

Based on the cumulative third-quarter performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated net income/loss for the December to February period (4Q) is expected to turn into a loss of 17 million yen (compared to a profit of 204 million yen in the same period last year).

In the most recent three-month period, from September to November (3Q), the consolidated net income significantly dropped to 39 million yen, a 62.5% decrease compared to the same period last year. The operating profit margin drastically worsened from 8.1% in the same period last year to 4.4%.

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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 5,658 446 464 393 79.7 110.5 Jan 10, 2024 J-GAAP
Mar - Nov, 2024 5,958 449 446 919 186.3 115.8 Jan 10, 2025 J-GAAP
Mar - Nov, 2025 6,007 112 68 -27 -5.6 76.4 Jan 9, 2026 J-GAAP
YoY +0.8% -75.1% -84.8% － －

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 3,921 139 72 308 62.4 13 Apr 11, 2025 J-GAAP
Sep - Feb, 2025 Guidance 4,057 145 43 22 4.5 10 Oct 10, 2025 J-GAAP
YoY +3.5% +4.3% -40.3% -92.9% -92.9%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Feb, 2024 7,519 486 420 697 141.3 20 Apr 12, 2024 J-GAAP
Feb, 2025 7,822 421 385 1,123 227.5 23 Apr 11, 2025 J-GAAP
Feb, 2026 Guidance 8,031 167 89 -44 -8.9 20 Oct 10, 2025 J-GAAP
YoY +2.7% -60.3% -76.9% － －

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Sep - Nov, 2024 2,057 167 133 104 21.1 8.1 Jan 10, 2025 J-GAAP
Dec - Feb, 2024 1,864 -28 -61 204 41.3 -1.5 Apr 11, 2025 J-GAAP
Mar - May, 2025 2,077 44 67 46 9.3 2.1 Jul 11, 2025 J-GAAP
Jun - Aug, 2025 1,897 -22 -21 -112 -22.8 -1.2 Oct 10, 2025 J-GAAP
Sep - Nov, 2025 2,033 90 22 39 8.1 4.4 Jan 9, 2026 J-GAAP
YoY -1.2% -46.1% -83.5% -62.5% -61.7%

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