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Syuppin, Ordinary Profit Forecast for the Fiscal Year Revised Downward to an Unexpected 27% Decrease

Mon Nov 10, 2025 5:30 pm JST Earnings

3179 Syuppin Co.,Ltd. 【J-GAAP】

Earnings Report

Syuppin Co.,Ltd. <3179> [TSE Prime] announced its financial results after the market closed on November 10th (17:30). The ordinary profit (non-consolidated) for the cumulative second quarter of the fiscal year ending March 2026 (April to September) significantly dropped 54.0% from the same period last year to 0.92 billion yen, fell short of the previous forecast of 1.51 billion yen.

In addition, the full-year forecast for ordinary profit has decreased 27.6%, from the previous forecast of 3.38 billion yen to 2.45 billion yen (compared to 3.36 billion yen in the previous period). This changes the outlook from an anticipated profit increase to a projection of a 27.2% decrease in profit.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the ordinary profit for the October to March period (second half) is expected to grow 12.2% from the same period last year, reaching 1.53 billion yen.

In the most recent three-month period, from July to September (2Q), the ordinary profit dropped to 0.50 billion yen, a 35.7% decrease compared to the same period last year. The operating profit margin worsened from 6.5% in the same period last year to 4.2%.

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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 23,381 1,625 1,632 1,111 52.7 48.8 Nov 8, 2023 J-GAAP
Apr - Sep, 2024 26,521 2,020 2,003 1,365 63.0 59.5 Nov 8, 2024 J-GAAP
Apr - Sep, 2025 24,424 939 922 613 28.3 37.6 Nov 10, 2025 J-GAAP
YoY -7.9% -53.5% -54.0% -55.1% -55.1%

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 26,226 1,527 1,512 1,028 47.8 0 May 9, 2025 J-GAAP
Apr - Sep, 2025 Results 24,424 939 922 613 28.3 0 Nov 10, 2025 J-GAAP
Revision Rate -6.9% -38.5% -39.0% -40.4% -40.7%

Guidance Update

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2026 Prev 54,940 3,417 3,387 2,303 108.5 47 May 9, 2025 J-GAAP
Mar, 2026 New 51,699 2,486 2,453 1,637 77.2 47 Nov 10, 2025 J-GAAP
Revision Rate -5.9% -27.2% -27.6% -28.9% -28.9%

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 26,137 1,376 1,365 655 30.2 40 May 9, 2025 J-GAAP
Oct - Mar, 2025 Guidance 27,275 1,547 1,531 1,024 48.3 47 Nov 10, 2025 J-GAAP
YoY +4.4% +12.4% +12.2% +56.3% +60.0%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2024 48,841 3,343 3,344 2,322 110.1 36 May 9, 2024 J-GAAP
Mar, 2025 52,658 3,396 3,368 2,020 93.0 40 May 9, 2025 J-GAAP
Mar, 2026 Guidance 51,699 2,486 2,453 1,637 77.2 47 Nov 10, 2025 J-GAAP
YoY -1.8% -26.8% -27.2% -19.0% -17.1%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2024 12,805 834 778 522 24.1 6.5 Nov 8, 2024 J-GAAP
Oct - Dec, 2024 13,095 633 631 149 6.9 4.8 Feb 7, 2025 J-GAAP
Jan - Mar, 2025 13,042 743 734 506 23.3 5.7 May 9, 2025 J-GAAP
Apr - Jun, 2025 12,176 421 422 283 13.0 3.5 Aug 7, 2025 J-GAAP
Jul - Sep, 2025 12,248 518 500 330 15.3 4.2 Nov 10, 2025 J-GAAP
YoY -4.3% -37.9% -35.7% -36.8% -36.7%

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