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PAL GROUP, Sep-Nov (3Q) Ordinary Profit Increases by 14%, Dividend Effectively Increased

Tue Jan 13, 2026 3:30 pm JST Earnings

2726 PAL GROUP Holdings CO.,LTD. 【J-GAAP】

Earnings Report

PAL GROUP Holdings CO.,LTD. <2726> [TSE Prime] announced its financial results after the market closed on January 13th (15:30). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending February 2026 (March to November) increased 16.4% from the same period last year, reaching 21.5 billion yen. Progress toward the full-year plan of 26.4 billion yen was 81.7%, it was below the five-year average of 86.1%.

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 decrease 10.6% from the same period last year to 4.84 billion yen.

At the same time, due to a planned 2-for-1 forward stock split is scheduled for September 10, the year-end lump-sum dividend for the current fiscal year has been revised from the original plan of 30 yen to 40 yen (equivalent to 80 yen before the forward stock split) This effectively represents a 33.3% increase in the annual dividend.

In the most recent three-month period, from September to November (3Q), the consolidated ordinary profit grew 14.2% from the same period last year, reaching 7.48 billion yen. However, the operating profit margin remained almost flat, changing from 12.6% in the same period last year to 12.6%.

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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 142,545 15,548 15,761 10,353 59.3 83.7 Jan 10, 2024 J-GAAP
Mar - Nov, 2024 152,531 18,277 18,513 8,960 51.6 77.4 Jan 14, 2025 J-GAAP
Mar - Nov, 2025 176,352 21,540 21,556 14,000 80.6 81.7 Jan 13, 2026 J-GAAP
YoY +15.6% +17.9% +16.4% +56.3% +56.2%

Guidance Update

Second Half Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Sep - Feb, 2025 Prev 113,918 12,305 12,331 7,664 44.1 30 Oct 7, 2025 J-GAAP
Sep - Feb, 2025 New 113,918 12,305 12,331 7,664 44.1 40 Jan 13, 2026 J-GAAP
Revision Rate 0.0% 0.0% 0.0% 0.0% 0.0%

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Feb, 2026 Prev 231,000 26,400 26,400 16,850 97.0 30 Aug 26, 2025 J-GAAP
Feb, 2026 New 231,000 26,400 26,400 16,850 97.0 40 Jan 13, 2026 J-GAAP
Revision Rate 0.0% 0.0% 0.0% 0.0% 0.0%

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 106,566 11,850 11,973 4,180 24.1 30 Apr 8, 2025 J-GAAP
Sep - Feb, 2025 Guidance 113,918 12,305 12,331 7,664 44.1 40 Jan 13, 2026 J-GAAP
YoY +6.9% +3.8% +3.0% +83.3% +83.3%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Feb, 2024 192,544 18,605 18,839 12,845 73.7 25 Apr 9, 2024 J-GAAP
Feb, 2025 207,825 23,656 23,929 11,848 68.2 30 Apr 8, 2025 J-GAAP
Feb, 2026 Guidance 231,000 26,400 26,400 16,850 97.0 40 Jan 13, 2026 J-GAAP
YoY +11.2% +11.6% +10.3% +42.2% +42.2%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Sep - Nov, 2024 51,272 6,471 6,557 1,292 7.4 12.6 Jan 14, 2025 J-GAAP
Dec - Feb, 2024 55,294 5,379 5,416 2,888 16.6 9.7 Apr 8, 2025 J-GAAP
Mar - May, 2025 58,727 7,854 7,857 5,234 30.2 13.4 Jul 8, 2025 J-GAAP
Jun - Aug, 2025 58,355 6,241 6,212 3,952 22.8 10.7 Oct 7, 2025 J-GAAP
Sep - Nov, 2025 59,270 7,445 7,487 4,814 27.7 12.6 Jan 13, 2026 J-GAAP
YoY +15.6% +15.1% +14.2% +272.6% +272.7%

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