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NCD, Ordinary Profit Forecast for the Fiscal Year Revised Downward to an Unexpected 14% Decrease

Fri Nov 7, 2025 3:30 pm JST Earnings

4783 NCD Co., Ltd. 【J-GAAP】

Earnings Report

NCD Co., Ltd. <4783> [TSE Std] 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) decreased 24.8% from the same period last year to 1.07 billion yen.

In addition, the full-year forecast for consolidated ordinary profit has decreased 18.3%, from the previous forecast of 3.00 billion yen to 2.45 billion yen (compared to 2.85 billion yen in the previous period). This changes the outlook from an anticipated profit increase to a projection of a 14.1% decrease in profit.

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 3.4% from the same period last year to 1.37 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit decreased to 0.69 billion yen, a 24.3% decrease compared to the same period last year. The operating profit margin decreased from 11.8% in the same period last year to 9.0%.

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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
Apr - Sep, 2023 11,904 900 907 600 74.0 42.4 Nov 10, 2023 J-GAAP
Apr - Sep, 2024 14,759 1,404 1,426 960 117.4 50.0 Nov 8, 2024 J-GAAP
Apr - Sep, 2025 14,940 1,061 1,073 703 86.0 43.8 Nov 7, 2025 J-GAAP
YoY +1.2% -24.4% -24.8% -26.8% -26.8%

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 － 60 May 13, 2025 J-GAAP
Apr - Sep, 2025 Results 14,940 1,061 1,073 703 86.0 60 Nov 7, 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 32,000 3,000 3,000 1,950 238.4 120 May 13, 2025 J-GAAP
Mar, 2026 New 31,000 2,450 2,450 1,650 201.7 120 Nov 7, 2025 J-GAAP
Revision Rate -3.1% -18.3% -18.3% -15.4% -15.4%

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 15,347 1,405 1,426 945 115.6 37 May 13, 2025 J-GAAP
Oct - Mar, 2025 Guidance 16,060 1,389 1,377 947 115.8 60 Nov 7, 2025 J-GAAP
YoY +4.6% -1.1% -3.4% +0.2% +0.2%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2024 25,481 2,115 2,140 1,387 170.4 50 May 13, 2024 J-GAAP
Mar, 2025 30,106 2,809 2,852 1,905 233.0 70 May 13, 2025 J-GAAP
Mar, 2026 Guidance 31,000 2,450 2,450 1,650 201.7 120 Nov 7, 2025 J-GAAP
YoY +3.0% -12.8% -14.1% -13.4% -13.4%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2024 7,726 915 918 634 77.6 11.8 Nov 8, 2024 J-GAAP
Oct - Dec, 2024 7,425 773 782 534 65.3 10.4 Feb 7, 2025 J-GAAP
Jan - Mar, 2025 7,922 632 644 411 50.3 8.0 May 13, 2025 J-GAAP
Apr - Jun, 2025 7,291 370 378 230 28.2 5.1 Aug 8, 2025 J-GAAP
Jul - Sep, 2025 7,649 691 695 473 57.8 9.0 Nov 7, 2025 J-GAAP
YoY -1.0% -24.5% -24.3% -25.4% -25.4%

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