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note, Ordinary Profit Forecast for the Fiscal Year Revised Upward by 2.6 times, Raises Record High Profit Forecast

Tue Oct 7, 2025 3:30 pm JST Earnings

5243 note inc. 【J-GAAP】

Earnings Report

note inc. <5243> [TSE Growth] announced its financial results after the market closed on October 7th (15:30). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending November 2025 (December 2024 to August 2025) surged 2.8 times that of the same period last year, reaching 139 million yen.

In addition, the full-year forecast for consolidated ordinary profit has been revised upward 2.6 times, from the previous forecast of 80 million yen to 210 million yen (compared to 75 million yen in the previous period), increasing the growth rate from 6.7% to 2.8 times, further surpassing the previous forecast of record-high profits for two consecutive terms.

Based on the full-year plan announced by the company after the upward revision, our estimate of the consolidated ordinary profit for the June to November period (second half) is expected to increase 3.9 times, from the previous forecast of 45 million yen to 175 million yen (compared to 60 million yen in the same period of the previous year), turning to a 2.9 times increase in the consolidated ordinary profit outlook.

In the most recent three-month period, from June to August (3Q), the consolidated ordinary profit surged 3.0 times that of the same period last year, reaching 104 million yen. The operating profit margin drastically improved from 2.6% in the same period last year to 9.7%.

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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
Dec - Aug, 2022 2,054 -363 -399 -399 -26.6 ー Oct 13, 2023 J-GAAP
Dec - Aug, 2023 2,461 34 50 47 3.1 66.7 Oct 9, 2024 J-GAAP
Dec - Aug, 2024 3,046 127 139 212 13.0 66.2 Oct 7, 2025 J-GAAP
YoY +23.8% +273.5% +178.0% +351.1% +317.3%

Guidance Update

Second Half Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Jun - Nov, 2025 Prev 2,040 37 45 40 2.4 0 Jul 8, 2025 J-GAAP
Jun - Nov, 2025 New 2,155 177 175 260 15.6 0 Oct 7, 2025 J-GAAP
Revision Rate +5.6% +378.4% +288.9% +550.0% +551.0%

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Nov, 2025 Prev 4,010 60 80 110 6.6 0 Jan 14, 2025 J-GAAP
Nov, 2025 New 4,125 200 210 330 19.8 0 Oct 7, 2025 J-GAAP
Revision Rate +2.9% +233.3% +162.5% +200.0% +200.2%

Current Period Guidance

Second Half Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Jun - Nov, 2024 1,696 40 60 84 5.5 0 Jan 14, 2025 J-GAAP
Jun - Nov, 2025 Guidance 2,155 177 175 260 15.6 0 Oct 7, 2025 J-GAAP
YoY +27.1% +342.5% +191.7% +209.5% +181.9%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Nov, 2023 2,777 -380 -413 -414 -27.5 0 Jan 11, 2024 J-GAAP
Nov, 2024 3,312 52 75 98 6.4 0 Jan 14, 2025 J-GAAP
Nov, 2025 Guidance 4,125 200 210 330 19.8 0 Oct 7, 2025 J-GAAP
YoY +24.5% +284.6% +180.0% +236.7% +206.7%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jun - Aug, 2024 845 22 35 33 2.2 2.6 Oct 9, 2024 J-GAAP
Sep - Nov, 2024 851 18 25 51 3.4 2.1 Jan 14, 2025 J-GAAP
Dec - Feb, 2024 957 5 6 4 0.3 0.5 Apr 8, 2025 J-GAAP
Mar - May, 2025 1,013 18 29 66 4.1 1.8 Jul 8, 2025 J-GAAP
Jun - Aug, 2025 1,076 104 104 142 8.7 9.7 Oct 7, 2025 J-GAAP
YoY +27.3% +372.7% +197.1% +330.3% +298.2%

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