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NAFCO, First Half Ordinary Profit Increases by 89%

Fri Nov 7, 2025 3:30 pm JST Earnings

2790 NAFCO CO., Ltd 【J-GAAP】

Earnings Report

NAFCO CO., Ltd <2790> [TSE Std] announced its financial results after the market closed on November 7th (15:30). The ordinary profit (non-consolidated) for the cumulative second quarter of the fiscal year ending March 2026 (April to September) expanded 1.71 billion yen, an increase 89.2% compared to the same period last year. Progress toward the full-year plan of 2.76 billion yen was 61.9%, it was below the five-year average of 69.2%.

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the ordinary profit for the October to March period (second half) is expected to surge 2.5 times that of the same period last year, reaching 1.05 billion yen.

In the most recent three-month period, from July to September (2Q), the ordinary loss improved to a deficit of 0.08 billion yen (compared to a loss of 0.62 billion yen in the same period last year). The operating profit/loss margin improved from -1.3% in the same period last year to 0.0%.

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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 101,471 4,186 4,209 2,487 87.1 75.8 Oct 27, 2023 J-GAAP
Apr - Sep, 2024 96,636 888 904 346 12.9 68.0 Oct 25, 2024 J-GAAP
Apr - Sep, 2025 90,993 1,833 1,710 813 33.1 61.9 Nov 7, 2025 J-GAAP
YoY -5.8% +106.4% +89.2% +135.0% +155.8%

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 89,779 1,979 2,010 1,104 44.9 29 May 9, 2025 J-GAAP
Apr - Sep, 2025 Results 90,993 1,833 1,710 813 33.1 29 Nov 7, 2025 J-GAAP
Revision Rate +1.4% -7.4% -14.9% -26.4% -26.4%

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 85,214 378 425 -163 -6.2 29 May 9, 2025 J-GAAP
Oct - Mar, 2025 Guidance 82,087 867 1,053 447 18.2 29 Nov 7, 2025 J-GAAP
YoY -3.7% +129.4% +147.8% － －

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2024 192,974 5,477 5,552 3,107 110.3 58 Apr 26, 2024 J-GAAP
Mar, 2025 181,850 1,266 1,329 183 7.0 58 May 9, 2025 J-GAAP
Mar, 2026 Guidance 173,080 2,700 2,763 1,260 51.3 58 May 9, 2025 J-GAAP
YoY -4.8% +113.3% +107.9% +588.5% +637.6%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2024 47,945 -623 -623 -617 -23.1 -1.3 Oct 25, 2024 J-GAAP
Oct - Dec, 2024 47,191 1,375 1,411 782 29.2 2.9 Jan 31, 2025 J-GAAP
Jan - Mar, 2025 38,023 -997 -986 -945 -35.9 -2.6 May 9, 2025 J-GAAP
Apr - Jun, 2025 47,064 1,823 1,797 766 31.2 3.9 Aug 8, 2025 J-GAAP
Jul - Sep, 2025 43,929 10 -87 47 1.9 0.0 Nov 7, 2025 J-GAAP
YoY -8.4% － +86.0% － －

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