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Medical Net , First Half Ordinary Profit Unexpectedly Revised Upward by 2.5 times

Wed Jan 14, 2026 3:30 pm JST Earnings

3645 Medical Net , Inc. 【J-GAAP】

Earnings Report

Medical Net , Inc. <3645> [TSE Growth] announced its financial results after the market closed on January 14th (15:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending May 2026 (June to November) surged 2.5 times that of the same period last year, reaching 165 million yen, resulting in an increase in profits compared to the previous forecast of a 23.9% decrease.

Progress toward the full-year plan of 233 million yen was 70.8%, also surpassing the five-year average of 53.3%.

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 December to May period (second half) is expected to grow 1.5% from the same period last year, reaching 68 million yen.

In the most recent three-month period, from September to November (2Q), the consolidated ordinary profit increased 60.0% from the same period last year, reaching 112 million yen. The operating profit margin improved from 3.2% in the same period last year to 4.0%.

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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
Jun - Nov, 2023 2,342 169 194 115 12.8 60.2 Jan 12, 2024 J-GAAP
Jun - Nov, 2024 2,912 47 67 -17 -1.9 50.0 Jan 14, 2025 J-GAAP
Jun - Nov, 2025 3,330 94 165 90 9.9 70.8 Jan 14, 2026 J-GAAP
YoY +14.4% +100.0% +146.3% － －

First Half Results vs. Previous Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Jun - Nov, 2025 Guidance 3,085 74 51 11 1.2 0 Jul 18, 2025 J-GAAP
Jun - Nov, 2025 Results 3,330 94 165 90 9.9 0 Jan 14, 2026 J-GAAP
Revision Rate +7.9% +27.0% +223.5% +718.2% +733.6%

Current Period Guidance

Second Half Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Dec - May, 2024 3,165 51 67 -51 -5.7 3 Jul 18, 2025 J-GAAP
Dec - May, 2025 Guidance 3,070 176 68 31 3.4 3 Jan 14, 2026 J-GAAP
YoY -3.0% +245.1% +1.5% － －

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
May, 2024 5,252 298 322 5 0.7 3 Jul 12, 2024 J-GAAP
May, 2025 6,077 98 134 -68 -7.6 3 Jul 18, 2025 J-GAAP
May, 2026 Guidance 6,400 270 233 121 13.1 3 Jul 18, 2025 J-GAAP
YoY +5.3% +175.5% +73.9% － －

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Sep - Nov, 2024 1,554 50 70 18 2.0 3.2 Jan 14, 2025 J-GAAP
Dec - Feb, 2024 1,509 12 23 -128 -14.3 0.8 Apr 18, 2025 J-GAAP
Mar - May, 2025 1,656 39 44 77 8.7 2.4 Jul 18, 2025 J-GAAP
Jun - Aug, 2025 1,561 24 53 21 2.4 1.5 Oct 15, 2025 J-GAAP
Sep - Nov, 2025 1,769 70 112 69 7.6 4.0 Jan 14, 2026 J-GAAP
YoY +13.8% +40.0% +60.0% +283.3% +280.5%

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