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ECONACH, First Half Ordinary Profit Decreases by 3%, Jul-Sep Ordinary Profit Decreases by 33%

Thu Nov 13, 2025 4:00 pm JST Earnings

3521 THERMAE-YU HOLDINGS CO.,LTD. 【J-GAAP】

Earnings Report

THERMAE-YU HOLDINGS CO.,LTD. <3521> [TSE Std] announced its financial results after the market closed on November 13th (16:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2026 (April to September) decreased 3.0% from the same period last year to 128 million yen. Progress toward the full-year plan of 370 million yen was 34.6%, also falling below the same period of the previous year of 38.9%.

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated ordinary profit for the October to March period (second half) is expected to grow 16.9% from the same period last year, reaching 242 million yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit dropped to 61 million yen, a 33.0% decrease compared to the same period last year. The operating profit margin sharply declined from 18.4% in the same period last year to 8.2%.

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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 903 36 33 -8 -0.3 18.0 Nov 9, 2023 J-GAAP
Apr - Sep, 2024 960 134 132 81 3.1 38.9 Nov 7, 2024 J-GAAP
Apr - Sep, 2025 1,231 128 128 57 2.2 34.6 Nov 13, 2025 J-GAAP
YoY +28.2% -4.5% -3.0% -29.6% -29.4%

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 ー ー ー ー － － May 13, 2025 J-GAAP
Apr - Sep, 2025 Results 1,231 128 128 57 2.2 － Nov 13, 2025 J-GAAP
Revision Rate － － － － －

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 1,020 207 207 110 4.2 5 May 13, 2025 J-GAAP
Oct - Mar, 2025 Guidance 1,519 247 242 178 6.7 5 Nov 13, 2025 J-GAAP
YoY +48.9% +19.3% +16.9% +61.8% +61.4%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2024 1,892 188 183 96 3.6 0 May 14, 2024 J-GAAP
Mar, 2025 1,980 341 339 191 7.2 5 May 13, 2025 J-GAAP
Mar, 2026 Guidance 2,750 375 370 235 8.9 5 Jul 17, 2025 J-GAAP
YoY +38.9% +10.0% +9.1% +23.0% +22.7%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2024 501 92 91 60 2.3 18.4 Nov 7, 2024 J-GAAP
Oct - Dec, 2024 543 117 116 73 2.8 21.5 Feb 6, 2025 J-GAAP
Jan - Mar, 2025 477 90 91 37 1.4 18.9 May 13, 2025 J-GAAP
Apr - Jun, 2025 491 67 67 23 0.9 13.6 Aug 8, 2025 J-GAAP
Jul - Sep, 2025 740 61 61 34 1.3 8.2 Nov 13, 2025 J-GAAP
YoY +47.7% -33.7% -33.0% -43.3% -43.2%

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