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MIYAJI ENGINEERING, Ordinary Profit Forecast for the Fiscal Year Revised Upward by 17%

Tue Nov 11, 2025 3:00 pm JST Earnings

3431 MIYAJI ENGINEERING GROUP, INC. 【J-GAAP】

Earnings Report

MIYAJI ENGINEERING GROUP, INC. <3431> [TSE Prime] announced its financial results in the afternoon session on November 11th (15:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2026 (April to September) dropped 35.2% from the same period last year to 2.99 billion yen.

However, the full-year forecast for consolidated ordinary profit has been revised upward 17.1%, from the previous forecast of 4.10 billion yen to 4.80 billion yen (compared to 9.49 billion yen in the previous period), and the declining rate is expected to decrease from 56.8% to 49.5%.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the consolidated ordinary profit for the October to March period (second half) is expected to significant drop 63.0% from the same period last year to 1.80 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit significantly dropped to 1.46 billion yen, a 56.0% decrease compared to the same period last year. The operating profit margin significantly dropped from 16.0% in the same period last year to 10.4%.

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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 31,694 2,951 3,089 1,776 65.3 39.1 Nov 9, 2023 J-GAAP
Apr - Sep, 2024 36,100 4,474 4,626 2,252 83.5 48.7 Nov 8, 2024 J-GAAP
Apr - Sep, 2025 28,307 2,847 2,996 1,801 67.9 62.4 Nov 11, 2025 J-GAAP
YoY -21.6% -36.4% -35.2% -20.0% -18.6%

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 28,300 2,840 2,990 1,800 67.9 42.50 Nov 4, 2025 J-GAAP
Apr - Sep, 2025 Results 28,307 2,847 2,996 1,801 67.9 42.50 Nov 11, 2025 J-GAAP
Revision Rate +0.0% +0.2% +0.2% +0.1% +0.1%

Guidance Update

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2026 Prev 58,000 4,000 4,100 2,500 94.3 97.50 May 14, 2025 J-GAAP
Mar, 2026 New 58,000 4,700 4,800 3,000 113.1 97.50 Nov 11, 2025 J-GAAP
Revision Rate 0.0% +17.5% +17.1% +20.0% +20.0%

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 38,625 4,694 4,870 2,611 97.6 55 May 14, 2025 J-GAAP
Oct - Mar, 2025 Guidance 29,693 1,853 1,804 1,199 45.2 55 Nov 11, 2025 J-GAAP
YoY -23.1% -60.5% -63.0% -54.1% -53.7%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2024 69,365 7,904 7,908 4,354 160.0 96 May 14, 2024 J-GAAP
Mar, 2025 74,725 9,168 9,496 4,863 181.8 97.50 May 14, 2025 J-GAAP
Mar, 2026 Guidance 58,000 4,700 4,800 3,000 113.1 97.50 Nov 11, 2025 J-GAAP
YoY -22.4% -48.7% -49.5% -38.3% -37.8%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2024 20,408 3,266 3,320 1,533 56.8 16.0 Nov 8, 2024 J-GAAP
Oct - Dec, 2024 17,829 2,974 3,061 1,469 54.8 16.7 Feb 7, 2025 J-GAAP
Jan - Mar, 2025 20,796 1,720 1,809 1,142 42.7 8.3 May 14, 2025 J-GAAP
Apr - Jun, 2025 14,734 1,437 1,535 923 34.8 9.8 Aug 7, 2025 J-GAAP
Jul - Sep, 2025 13,573 1,410 1,461 878 33.1 10.4 Nov 11, 2025 J-GAAP
YoY -33.5% -56.8% -56.0% -42.7% -41.7%

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