Business Engineering, Ordinary Profit Forecast for the Fiscal Year Revised Upward by 15%, Raises Record High Profit Forecast, Dividend Effectively Increased

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Fri Nov 7, 2025 11:30 am JST Earnings

4828 Business Engineering Corporation 【J-GAAP】

Earnings Report

Business Engineering Corporation <4828> [TSE Prime] announced its financial results at noon (11:30) on November 7th. The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2026 (April to September) expanded 3.39 billion yen, an increase 39.6% compared to the same period last year.

In addition, the full-year forecast for consolidated ordinary profit has been revised upward 15.4%, from the previous forecast of 5.20 billion yen to 6.00 billion yen (compared to 4.67 billion yen in the previous period), increasing the growth rate from 11.1% to 28.2%, further surpassing the previous forecast of record-high profits for ten 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 grow 16.0% from the same period last year, reaching 2.60 billion yen.

At the same time, due to a planned 5-for-1 forward stock split is scheduled for December 31, the annual dividend for the current fiscal year has been revised from the original plan of 156 yen to 100 yen (equivalent to 188 yen before the forward stock split) This effectively represents a 20.5% increase in the annual dividend.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit increased 31.7% from the same period last year, reaching 1.64 billion yen. The operating profit margin rose from 24.8% in the same period last year to 26.3%.

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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	9,808	2,114	2,126	1,443	120.4	54.8	Nov 10, 2023	J-GAAP
Apr - Sep, 2024	10,092	2,417	2,430	1,658	138.5	51.9	Nov 12, 2024	J-GAAP
Apr - Sep, 2025	12,280	3,370	3,392	2,489	207.9	56.5	Nov 7, 2025	J-GAAP
YoY	+21.7%	+39.4%	+39.6%	+50.1%	+50.2%

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	11,800	3,000	3,000	2,200	183.7	78	Aug 8, 2025	J-GAAP
Apr - Sep, 2025 Results	12,280	3,370	3,392	2,489	207.9	78	Nov 7, 2025	J-GAAP
Revision Rate	+4.1%	+12.3%	+13.1%	+13.1%	+13.2%

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2026 Prev	22,000	5,200	5,200	3,700	309.0	156	May 13, 2025	J-GAAP
Mar, 2026 New	24,000	6,000	6,000	4,400	367.5	188	Nov 7, 2025	J-GAAP
Revision Rate	+9.1%	+15.4%	+15.4%	+18.9%	+18.9%

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	10,684	2,259	2,249	1,672	139.7	58	May 13, 2025	J-GAAP
Oct - Mar, 2025 Guidance	11,720	2,630	2,608	1,911	159.6	110	Nov 7, 2025	J-GAAP
YoY	+9.7%	+16.4%	+16.0%	+14.3%	+14.3%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2024	19,493	3,885	3,877	2,625	219.1	78	May 10, 2024	J-GAAP
Mar, 2025	20,776	4,676	4,679	3,330	278.2	100	May 13, 2025	J-GAAP
Mar, 2026 Guidance	24,000	6,000	6,000	4,400	367.5	188	Nov 7, 2025	J-GAAP
YoY	+15.5%	+28.3%	+28.2%	+32.1%	+32.1%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2024	5,050	1,250	1,247	855	71.4	24.8	Nov 12, 2024	J-GAAP
Oct - Dec, 2024	5,165	1,245	1,243	839	70.1	24.1	Feb 7, 2025	J-GAAP
Jan - Mar, 2025	5,519	1,014	1,006	833	69.6	18.4	May 13, 2025	J-GAAP
Apr - Jun, 2025	6,039	1,728	1,750	1,371	114.5	28.6	Aug 8, 2025	J-GAAP
Jul - Sep, 2025	6,241	1,642	1,642	1,118	93.4	26.3	Nov 7, 2025	J-GAAP
YoY	+23.6%	+31.4%	+31.7%	+30.8%	+30.8%