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IPS, First Half Ordinary Profit Increases by 46%

Fri Nov 7, 2025 3:30 pm JST Earnings

4390 IPS, Inc. 【J-GAAP】

Earnings Report

IPS, Inc. <4390> [TSE Prime] announced its financial results after the market closed on November 7th (15:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2026 (April to September) expanded 2.31 billion yen, an increase 45.7% compared to the same period last year, exceeded the previous forecast of 1.80 billion yen.

Progress toward the full-year plan of 4.90 billion yen was 47.2%, exceeding the five-year average of 39.4%.

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 4.1% from the same period last year, reaching 2.58 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit surged 2.7 times that of the same period last year, reaching 1.34 billion yen. However, the operating profit margin decreased from 38.6% in the same period last year to 29.4%.

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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 5,248 925 1,558 954 76.7 35.2 Nov 10, 2023 J-GAAP
Apr - Sep, 2024 7,744 2,339 1,588 961 74.6 39.0 Nov 8, 2024 J-GAAP
Apr - Sep, 2025 7,854 2,351 2,314 1,607 124.0 47.2 Nov 7, 2025 J-GAAP
YoY +1.4% +0.5% +45.7% +67.2% +66.1%

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 8,200 2,000 1,800 900 69.4 20 May 9, 2025 J-GAAP
Apr - Sep, 2025 Results 7,854 2,351 2,314 1,607 124.0 20 Nov 7, 2025 J-GAAP
Revision Rate -4.2% +17.5% +28.6% +78.6% +78.7%

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 7,520 2,074 2,485 1,583 122.7 20 May 9, 2025 J-GAAP
Oct - Mar, 2025 Guidance 10,146 2,899 2,586 1,393 106.6 20 Nov 7, 2025 J-GAAP
YoY +34.9% +39.8% +4.1% -12.0% -13.1%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2024 14,117 3,894 4,427 2,835 225.1 37 May 10, 2024 J-GAAP
Mar, 2025 15,264 4,413 4,073 2,544 197.1 40 May 9, 2025 J-GAAP
Mar, 2026 Guidance 18,000 5,250 4,900 3,000 229.7 40 May 9, 2025 J-GAAP
YoY +17.9% +19.0% +20.3% +17.9% +16.5%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2024 4,087 1,579 499 309 24.0 38.6 Nov 8, 2024 J-GAAP
Oct - Dec, 2024 3,489 874 1,789 1,464 113.5 25.1 Feb 7, 2025 J-GAAP
Jan - Mar, 2025 4,031 1,200 696 119 9.2 29.8 May 9, 2025 J-GAAP
Apr - Jun, 2025 3,422 1,048 973 652 50.3 30.6 Aug 8, 2025 J-GAAP
Jul - Sep, 2025 4,432 1,303 1,341 955 73.7 29.4 Nov 7, 2025 J-GAAP
YoY +8.4% -17.5% +168.7% +209.1% +207.0%

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