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Choei, First Half Ordinary Profit Decreases by 24%, Jul-Sep Ordinary Profit Decreases by 40%

Thu Nov 13, 2025 3:31 pm JST Earnings

2993 Choei Inc. 【J-GAAP】

Earnings Report

Choei Inc. <2993> [TSE Std] announced its financial results after the market closed on November 13th (15:31). The ordinary profit (non-consolidated) for the cumulative second quarter of the fiscal year ending March 2026 (April to September) decreased 24.0% from the same period last year to 0.69 billion yen. Progress toward the full-year plan of 1.36 billion yen was 51.0%, below the five-year average of 56.6%.

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 grow 23.8% from the same period last year, reaching 0.67 billion yen.

In the most recent three-month period, from July to September (2Q), the ordinary profit dropped to 0.28 billion yen, a 40.4% decrease compared to the same period last year. The operating profit margin significantly dropped from 22.2% in the same period last year to 14.1%.

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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 4,592 1,056 913 670 153.3 60.7 Nov 10, 2023 J-GAAP
Apr - Sep, 2024 4,874 1,051 916 624 142.4 62.9 Nov 13, 2024 J-GAAP
Apr - Sep, 2025 5,255 910 696 473 107.3 51.0 Nov 13, 2025 J-GAAP
YoY +7.8% -13.4% -24.0% -24.2% -24.7%

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 5,137 882 683 462 105.8 0 May 13, 2025 J-GAAP
Apr - Sep, 2025 Results 5,255 910 696 473 107.3 0 Nov 13, 2025 J-GAAP
Revision Rate +2.3% +3.2% +1.9% +2.4% +1.4%

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 5,144 749 541 1,443 328.9 125 May 13, 2025 J-GAAP
Oct - Mar, 2025 Guidance 5,237 1,038 670 452 103.5 100 Nov 13, 2025 J-GAAP
YoY +1.8% +38.6% +23.8% -68.7% -68.5%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2024 9,368 1,824 1,504 1,256 288.7 107 May 13, 2024 J-GAAP
Mar, 2025 10,018 1,800 1,457 2,067 471.1 125 May 13, 2025 J-GAAP
Mar, 2026 Guidance 10,492 1,948 1,366 925 211.7 100 May 13, 2025 J-GAAP
YoY +4.7% +8.2% -6.2% -55.2% -55.1%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2024 2,500 554 480 327 74.6 22.2 Nov 13, 2024 J-GAAP
Oct - Dec, 2024 2,522 250 134 85 19.4 9.9 Feb 10, 2025 J-GAAP
Jan - Mar, 2025 2,622 499 407 1,358 309.5 19.0 May 13, 2025 J-GAAP
Apr - Jun, 2025 2,541 527 410 278 63.2 20.7 Aug 12, 2025 J-GAAP
Jul - Sep, 2025 2,714 383 286 195 44.2 14.1 Nov 13, 2025 J-GAAP
YoY +8.6% -30.9% -40.4% -40.4% -40.7%

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