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BULL-DOG SAUCE, Apr-Dec (Cumulative 3Q) Ordinary Profit Increases by 71%, Oct-Dec Ordinary Profit Decreases by 19%

Fri Jan 23, 2026 3:00 pm JST Earnings

2804 BULL-DOG SAUCE CO.,LTD. 【J-GAAP】

Earnings Report

BULL-DOG SAUCE CO.,LTD. <2804> [TSE Prime] announced its financial results in the afternoon session on January 23rd (15:00). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending March 2026 (April to December) expanded 1.16 billion yen, an increase 70.7% compared to the same period last year. Progress toward the full-year plan of 1.30 billion yen was 89.5%, also surpassing the five-year average of 86.7%.

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 January to March period (4Q) is expected to decrease 25.3% from the same period last year to 0.13 billion yen.

In the most recent three-month period, from October to December (3Q), the consolidated ordinary profit decreased to 0.35 billion yen, an 18.6% decrease compared to the same period last year. However, the operating profit margin improved from 4.4% in the same period last year to 5.5%.

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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
Apr - Dec, 2023 11,053 320 534 51 3.9 79.2 Jan 26, 2024 J-GAAP
Apr - Dec, 2024 11,181 109 682 497 37.3 78.9 Jan 24, 2025 J-GAAP
Apr - Dec, 2025 11,233 515 1,164 2,318 179.7 89.5 Jan 23, 2026 J-GAAP
YoY +0.5% +372.5% +70.7% +366.4% +382.1%

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 7,305 283 617 440 33.1 18 May 15, 2025 J-GAAP
Oct - Mar, 2025 Guidance 7,925 298 490 231 18.2 25 Oct 24, 2025 J-GAAP
YoY +8.5% +5.3% -20.6% -47.5% -45.1%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2024 14,482 163 674 145 10.9 35 May 15, 2024 J-GAAP
Mar, 2025 14,617 223 864 623 46.9 35 May 15, 2025 J-GAAP
Mar, 2026 Guidance 15,300 600 1,300 2,300 181.1 45 Oct 24, 2025 J-GAAP
YoY +4.7% +169.1% +50.5% +269.2% +286.0%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Oct - Dec, 2024 3,869 169 435 314 23.6 4.4 Jan 24, 2025 J-GAAP
Jan - Mar, 2025 3,436 114 182 126 9.5 3.3 May 15, 2025 J-GAAP
Apr - Jun, 2025 3,695 125 418 1,765 135.3 3.4 Jul 25, 2025 J-GAAP
Jul - Sep, 2025 3,680 177 392 304 23.5 4.8 Oct 24, 2025 J-GAAP
Oct - Dec, 2025 3,858 213 354 249 19.3 5.5 Jan 23, 2026 J-GAAP
YoY -0.3% +26.0% -18.6% -20.7% -18.0%

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