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PIA, Ordinary Profit Forecast for the Fiscal Year Revised Upward by 31%, Raises Record High Profit Forecast, Dividend Revised Upward by 10 Yen

Thu Nov 13, 2025 1:00 pm JST Earnings

4337 PIA CORPORATION 【J-GAAP】

Earnings Report

PIA CORPORATION <4337> [TSE Prime] announced its financial results in the afternoon session on November 13th (13:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2026 (April to September) surged 2.8 times that of the same period last year, reaching 3.07 billion yen.

In addition, the full-year forecast for consolidated ordinary profit has been revised upward 31.3%, from the previous forecast of 3.20 billion yen to 4.20 billion yen (compared to 2.37 billion yen in the previous period), increasing the growth rate from 34.6% to 76.6%, further surpassing the previous forecast of record-high profits for two consecutive terms.

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 decrease 13.4% from the same period last year to 1.12 billion yen.

In light of the strong performance, the company has significantly increased its planned year-end lump-sum dividend for the current fiscal year from the original plan of 10 yen to 20 yen (compared to no dividend in the previous period).

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit increased 63.6% from the same period last year, reaching 0.70 billion yen. However, the operating profit margin remained almost flat, changing from 5.2% in the same period last year to 5.1%.

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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 19,665 980 948 896 58.7 102.8 Nov 9, 2023 J-GAAP
Apr - Sep, 2024 21,189 1,228 1,080 654 42.8 45.4 Nov 14, 2024 J-GAAP
Apr - Sep, 2025 26,252 2,994 3,076 1,961 128.0 73.2 Nov 13, 2025 J-GAAP
YoY +23.9% +143.8% +184.8% +199.8% +198.8%

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 － 0 May 15, 2025 J-GAAP
Apr - Sep, 2025 Results 26,252 2,994 3,076 1,961 128.0 0 Nov 13, 2025 J-GAAP
Revision Rate － － － － －

Guidance Update

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2026 Prev 47,000 3,400 3,200 2,300 150.0 10 May 15, 2025 J-GAAP
Mar, 2026 New 50,000 4,200 4,200 2,700 176.1 20 Nov 13, 2025 J-GAAP
Revision Rate +6.4% +23.5% +31.3% +17.4% +17.4%

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 24,173 1,408 1,298 937 61.3 0 May 15, 2025 J-GAAP
Oct - Mar, 2025 Guidance 23,748 1,206 1,124 739 48.2 20 Nov 13, 2025 J-GAAP
YoY -1.8% -14.3% -13.4% -21.1% -21.3%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2024 39,587 1,209 922 1,118 73.2 0 May 9, 2024 J-GAAP
Mar, 2025 45,362 2,636 2,378 1,591 104.0 0 May 15, 2025 J-GAAP
Mar, 2026 Guidance 50,000 4,200 4,200 2,700 176.1 20 Nov 13, 2025 J-GAAP
YoY +10.2% +59.3% +76.6% +69.7% +69.2%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2024 10,919 563 431 48 3.1 5.2 Nov 14, 2024 J-GAAP
Oct - Dec, 2024 10,737 361 322 309 20.2 3.4 Feb 13, 2025 J-GAAP
Jan - Mar, 2025 13,436 1,047 976 628 41.1 7.8 May 15, 2025 J-GAAP
Apr - Jun, 2025 13,667 2,351 2,371 1,564 102.2 17.2 Aug 14, 2025 J-GAAP
Jul - Sep, 2025 12,585 643 705 397 25.9 5.1 Nov 13, 2025 J-GAAP
YoY +15.3% +14.2% +63.6% +727.1% +725.5%

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