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SHIFT, Ordinary Profit Forecast for the Fiscal Year Revised Upward by 7%, Exceeded Record Profit Forecast

Wed Jul 9, 2025 3:30 pm JST Earnings

3697 SHIFT Inc. 【J-GAAP】

Earnings Report

SHIFT Inc. <3697> [TSE Prime] announced its financial results after the market closed on July 9th (15:30). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending August 2025 (September 2024 to May 2025) expanded 11.6 billion yen, an increase 60.4% compared to the same period last year.

In addition, the full-year forecast for consolidated ordinary profit has been revised upward 7.4%, from the previous forecast of 13.5 billion yen to 14.5 billion yen (compared to 10.7 billion yen in the previous period), increasing the growth rate from 25.5% to 34.8%. The company has further increased its previous forecast of record profits for the first time in two years.

Based on the full-year plan announced by the company after the upward revision, our estimate of the consolidated ordinary profit for the March to August period (second half) is expected to increase 17.8%, from the previous forecast of 5.63 billion yen to 6.63 billion yen (compared to 5.92 billion yen in the same period of the previous year), turning to a 12.0% increase in the consolidated ordinary profit outlook.

In the most recent three-month period, from March to May (3Q), the consolidated ordinary profit increased 55.4% from the same period last year, reaching 3.76 billion yen. The operating profit margin significantly improved from 8.2% in the same period last year to 11.4%.

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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
Sep - May, 2022 63,355 8,234 8,635 3,979 15.1 72.0 Jul 13, 2023 J-GAAP
Sep - May, 2023 81,143 7,055 7,255 3,315 12.6 67.5 Jul 10, 2024 J-GAAP
Sep - May, 2024 95,412 11,906 11,635 6,282 23.9 80.2 Jul 9, 2025 J-GAAP
YoY +17.6% +68.8% +60.4% +89.5% +90.0%

Guidance Update

Second Half Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar - Aug, 2025 Prev 68,312 5,442 5,632 3,407 12.9 0 Apr 10, 2025 J-GAAP
Mar - Aug, 2025 New 68,312 6,942 6,632 3,407 12.9 0 Jul 9, 2025 J-GAAP
Revision Rate 0.0% +27.6% +17.8% 0.0% 0.0%

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Aug, 2025 Prev 130,000 13,500 13,500 7,900 30.0 0 Oct 10, 2024 J-GAAP
Aug, 2025 New 130,000 15,000 14,500 7,900 30.0 0 Jul 9, 2025 J-GAAP
Revision Rate 0.0% +11.1% +7.4% 0.0% 0.0%

Current Period Guidance

Second Half Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar - Aug, 2024 58,322 5,854 5,922 2,145 8.1 0 Oct 10, 2024 J-GAAP
Mar - Aug, 2025 Guidance 68,312 6,942 6,632 3,407 12.9 0 Jul 9, 2025 J-GAAP
YoY +17.1% +18.6% +12.0% +58.8% +59.2%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Aug, 2023 88,030 11,565 12,000 6,245 23.6 0 Oct 12, 2023 J-GAAP
Aug, 2024 110,627 10,537 10,753 5,127 19.4 0 Oct 10, 2024 J-GAAP
Aug, 2025 Guidance 130,000 15,000 14,500 7,900 30.0 0 Jul 9, 2025 J-GAAP
YoY +17.5% +42.4% +34.8% +54.1% +54.5%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Mar - May, 2024 28,838 2,372 2,424 333 1.3 8.2 Jul 10, 2024 J-GAAP
Jun - Aug, 2024 29,484 3,482 3,498 1,812 6.9 11.8 Oct 10, 2024 J-GAAP
Sep - Nov, 2024 30,174 3,517 3,313 1,976 7.5 11.7 Jan 14, 2025 J-GAAP
Dec - Feb, 2024 31,514 4,541 4,555 2,517 9.6 14.4 Apr 10, 2025 J-GAAP
Mar - May, 2025 33,724 3,848 3,767 1,789 6.8 11.4 Jul 9, 2025 J-GAAP
YoY +16.9% +62.2% +55.4% +437.2% +438.9%

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