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Misawa &, First Half Ordinary Profit Turns to Loss, May-Jul Ordinary Profit Loss Widens

Fri Sep 12, 2025 4:00 pm JST Earnings

3169 Misawa & Co.,Ltd. 【J-GAAP】

Earnings Report

Misawa & Co.,Ltd. <3169> [TSE Std] announced its financial results after the market closed on September 12th (16:00). The ordinary profit/loss (non-consolidated) for the cumulative second quarter of the fiscal year ending January 2026 (February to July) turned into a loss of 62 million yen (compared to a profit of 59 million yen in the same period last year).

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 August to January period (second half) is expected to significant drop 62.1% from the same period last year to 100 million yen.

In the most recent three-month period, from May to July (2Q), the ordinary loss expanded to a loss of 92 million yen (compared to a loss of 31 million yen in the same period last year). The operating profit/loss margin worsened from -1.0% in the same period last year to -3.3%.

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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
Feb - Jul, 2023 6,002 2 -3 -9 -1.4 ー Sep 14, 2023 J-GAAP
Feb - Jul, 2024 6,308 67 59 26 3.7 18.3 Sep 13, 2024 J-GAAP
Feb - Jul, 2025 5,725 -75 -62 -59 -8.4 ー Sep 12, 2025 J-GAAP
YoY -9.2% － － － －

First Half Results vs. Previous Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Feb - Jul, 2025 Guidance 5,725 -75 -62 -59 -8.3 0 Aug 29, 2025 J-GAAP
Feb - Jul, 2025 Results 5,725 -75 -62 -59 -8.4 0 Sep 12, 2025 J-GAAP
Revision Rate 0.0% 0.0% 0.0% 0.0% -1.6%

Current Period Guidance

Second Half Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Aug - Jan, 2024 6,329 258 264 161 22.8 8 Mar 17, 2025 J-GAAP
Aug - Jan, 2025 Guidance 6,388 97 100 84 11.9 8 Aug 29, 2025 J-GAAP
YoY +0.9% -62.4% -62.1% -47.8% -48.0%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Jan, 2024 12,085 64 48 12 1.7 8 Mar 15, 2024 J-GAAP
Jan, 2025 12,637 325 323 187 26.5 8 Mar 17, 2025 J-GAAP
Jan, 2026 Guidance 12,113 22 38 25 3.5 8 Aug 29, 2025 J-GAAP
YoY -4.1% -93.2% -88.2% -86.6% -86.7%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
May - Jul, 2024 3,007 -30 -31 -29 -4.1 -1.0 Sep 13, 2024 J-GAAP
Aug - Oct, 2024 3,047 20 30 1 0.1 0.7 Dec 13, 2024 J-GAAP
Nov - Jan, 2024 3,282 238 234 160 22.7 7.3 Mar 17, 2025 J-GAAP
Feb - Apr, 2025 2,985 16 30 12 1.8 0.5 Jun 13, 2025 J-GAAP
May - Jul, 2025 2,740 -91 -92 -71 -10.2 -3.3 Sep 12, 2025 J-GAAP
YoY -8.9% -203.3% -196.8% -144.8% -147.8%

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