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BAROQUE JAPAN, Ordinary Profit Forecast for the Fiscal Year Revised Downward by 71%

Wed Jan 14, 2026 3:30 pm JST Earnings

3548 BAROQUE JAPAN LIMITED 【J-GAAP】

Earnings Report

BAROQUE JAPAN LIMITED <3548> [TSE Prime] announced its financial results after the market closed on January 14th (15:30). The consolidated ordinary profit/loss for the cumulative third quarter of the fiscal year ending February 2026 (March to November) turned into a profit of 0.68 billion yen (compared to a loss of 0.04 billion yen in the same period last year).

However, the full-year forecast for consolidated ordinary profit has decreased 70.6%, from the previous forecast of 2.13 billion yen to 0.62 billion yen (compared to a loss of 1.68 billion yen in the previous period).

Based on the full-year plan announced by the company after the downward revision, our estimate of the consolidated ordinary profit for the September to February period (second half) has decreased 70.1%, from the previous forecast of 2.15 billion yen to 0.64 billion yen (compared to a loss of 1.39 billion yen in the same period of the previous year).

In the most recent three-month period, from September to November (3Q), the consolidated ordinary profit surged 2.9 times that of the same period last year, reaching 0.69 billion yen. However, the operating profit margin remained almost flat, changing from 5.5% in the same period last year to 5.5%.

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Actual Results

Accumulated Results 3rd Quarter
Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Progress Rate vs. First Half Announce Accounting Standards
Mar - Nov, 2023 44,236 1,800 1,989 1,188 33.0 98.4 Jan 15, 2024 J-GAAP
Mar - Nov, 2024 42,667 934 -45 -464 -12.9 ー Jan 14, 2025 J-GAAP
Mar - Nov, 2025 38,004 643 684 503 14.0 108.9 Jan 14, 2026 J-GAAP
YoY -10.9% -31.2% － － －

Guidance Update

Second Half Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Sep - Feb, 2025 Prev 32,801 2,304 2,154 1,327 36.8 38 Oct 15, 2025 J-GAAP
Sep - Feb, 2025 New 26,996 656 643 490 13.6 38 Jan 14, 2026 J-GAAP
Revision Rate -17.7% -71.5% -70.1% -63.1% -63.1%

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Feb, 2026 Prev 57,602 2,227 2,139 1,338 37.2 38 Apr 14, 2025 J-GAAP
Feb, 2026 New 51,797 579 628 501 13.9 38 Jan 14, 2026 J-GAAP
Revision Rate -10.1% -74.0% -70.6% -62.6% -62.6%

Current Period Guidance

Second Half Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Sep - Feb, 2024 30,467 706 -1,399 -2,185 -60.7 38 Apr 14, 2025 J-GAAP
Sep - Feb, 2025 Guidance 26,996 656 643 490 13.6 38 Jan 14, 2026 J-GAAP
YoY -11.4% -7.1% － － －

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Feb, 2024 60,290 1,954 2,022 945 26.2 38 Apr 15, 2024 J-GAAP
Feb, 2025 58,180 812 -1,683 -2,575 -71.6 38 Apr 14, 2025 J-GAAP
Feb, 2026 Guidance 51,797 579 628 501 13.9 38 Jan 14, 2026 J-GAAP
YoY -11.0% -28.7% － － －

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Sep - Nov, 2024 14,954 828 239 -74 -2.1 5.5 Jan 14, 2025 J-GAAP
Dec - Feb, 2024 15,513 -122 -1,638 -2,111 -58.7 -0.8 Apr 14, 2025 J-GAAP
Mar - May, 2025 12,625 504 511 483 13.4 4.0 Jul 15, 2025 J-GAAP
Jun - Aug, 2025 12,176 -581 -526 -472 -13.7 -4.8 Oct 15, 2025 J-GAAP
Sep - Nov, 2025 13,203 720 699 492 13.7 5.5 Jan 14, 2026 J-GAAP
YoY -11.7% -13.0% +192.5% － －

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