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SEIHYO, Ordinary Profit Forecast for the Fiscal Year Revised Downward to an Unexpected 79% Decrease

Fri Jan 9, 2026 4:00 pm JST Earnings

2872 SEIHYO CO.,LTD. 【J-GAAP】

Earnings Report

SEIHYO CO.,LTD. <2872> [TSE Std] announced its financial results after the market closed on January 9th (16:00). The ordinary profit (non-consolidated) for the cumulative third quarter of the fiscal year ending February 2026 (March to November) dropped 44.7% from the same period last year to 121 million yen.

In addition, the full-year forecast for ordinary profit has decreased 79.2%, from the previous forecast of 125 million yen to 26 million yen (compared to 123 million yen in the previous period). This changes the outlook from an anticipated profit increase to a projection of a 78.9% decrease in profit.

Based on the full-year plan announced by the company after the downward revision, our estimate of the ordinary profit/loss for the September to February period (second half) has been revised downward from an expected loss of 77 million yen to a loss of 176 million yen (compared to a loss of 77 million yen in the same period of the previous year), indicating an expansion in the loss margin.

In the most recent three-month period, from September to November (3Q), the ordinary profit/loss turned to a loss of 81 million yen (compared to a profit of 19 million yen in the same period last year). The operating profit/loss margin drastically worsened from 1.7% in the same period last year to -10.5%.

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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
Mar - Nov, 2023 3,491 73 80 61 39.8 121.2 Jan 11, 2024 J-GAAP
Mar - Nov, 2024 3,875 201 219 169 121.8 178.0 Jan 10, 2025 J-GAAP
Mar - Nov, 2025 3,888 105 121 75 53.9 465.4 Jan 9, 2026 J-GAAP
YoY +0.3% -47.8% -44.7% -55.6% -55.7%

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 1,503 -68 -77 -23 -16.4 18 Oct 14, 2025 J-GAAP
Sep - Feb, 2025 New 1,603 -178 -176 -102 -72.7 18 Jan 9, 2026 J-GAAP
Revision Rate +6.7% -161.8% -128.6% -343.5% -343.4%

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Feb, 2026 Prev 4,600 120 125 110 78.4 18 Apr 11, 2025 J-GAAP
Feb, 2026 New 4,700 10 26 31 22.1 18 Jan 9, 2026 J-GAAP
Revision Rate +2.2% -91.7% -79.2% -71.8% -71.8%

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 1,664 -87 -77 -38 -27.4 18 Apr 11, 2025 J-GAAP
Sep - Feb, 2025 Guidance 1,603 -178 -176 -102 -72.7 18 Jan 9, 2026 J-GAAP
YoY -3.7% -104.6% -128.6% -168.4% -165.6%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Feb, 2024 4,256 54 66 61 40.0 17 Apr 12, 2024 J-GAAP
Feb, 2025 4,484 96 123 119 85.7 18 Apr 11, 2025 J-GAAP
Feb, 2026 Guidance 4,700 10 26 31 22.1 18 Jan 9, 2026 J-GAAP
YoY +4.8% -89.6% -78.9% -73.9% -74.2%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Sep - Nov, 2024 1,055 18 19 12 8.7 1.7 Jan 10, 2025 J-GAAP
Dec - Feb, 2024 609 -105 -96 -50 -36.0 -17.2 Apr 11, 2025 J-GAAP
Mar - May, 2025 1,338 47 57 38 27.6 3.5 Jul 11, 2025 J-GAAP
Jun - Aug, 2025 1,759 141 145 95 68.1 8.0 Oct 14, 2025 J-GAAP
Sep - Nov, 2025 791 -83 -81 -58 -41.7 -10.5 Jan 9, 2026 J-GAAP
YoY -25.0% － － － －

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