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MIGALO, Ordinary Profit Forecast for the Fiscal Year Revised Upward by 1%, Dividend Effectively Increased

Fri Nov 14, 2025 3:30 pm JST Earnings

5535 MIGALO HOLDINGS Inc. 【J-GAAP】

Earnings Report

MIGALO HOLDINGS Inc. <5535> [TSE Prime] announced its financial results after the market closed on November 14th (15:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2026 (April to September) increased 6.6% from the same period last year, reaching 1.74 billion yen.

In addition, the full-year forecast for consolidated ordinary profit has been revised upward 0.9%, from the previous forecast of 2.15 billion yen to 2.17 billion yen (compared to 2.12 billion yen in the previous period), increasing the growth rate from 1.4% to 2.3%.

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 12.3% from the same period last year to 0.42 billion yen.

At the same time, due to a planned 2-for-1 forward stock split is scheduled for May 31, the annual dividend for the current fiscal year has been revised from the original plan of 8 yen to 8.5 yen (equivalent to 17 yen before the forward stock split) This effectively represents a 6.3% increase in the annual dividend.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit amounted to 0.96 billion yen, a 0.5% decrease compared to the same period last year. However, the operating profit margin improved from 7.0% in the same period last year to 7.4%.

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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 24,330 2,292 2,067 1,352 23.3 101.2 Nov 8, 2023 J-GAAP
Apr - Sep, 2024 30,001 1,935 1,641 1,101 18.9 77.4 Nov 7, 2024 J-GAAP
Apr - Sep, 2025 29,650 2,106 1,749 1,131 19.3 80.6 Nov 14, 2025 J-GAAP
YoY -1.2% +8.8% +6.6% +2.7% +2.5%

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 － 3 May 12, 2025 J-GAAP
Apr - Sep, 2025 Results 29,650 2,106 1,749 1,131 19.3 3 Nov 14, 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 60,000 2,800 2,150 1,300 20.2 8 May 12, 2025 J-GAAP
Mar, 2026 New 60,000 2,900 2,170 1,320 20.5 8.50 Nov 14, 2025 J-GAAP
Revision Rate 0.0% +3.6% +0.9% +1.5% +1.5%

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 21,708 778 480 289 5.0 4 May 12, 2025 J-GAAP
Oct - Mar, 2025 Guidance 30,350 794 421 189 2.9 5.50 Nov 14, 2025 J-GAAP
YoY +39.8% +2.1% -12.3% -34.6% -40.6%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2024 42,672 2,500 2,042 1,112 19.1 5.63 May 9, 2024 J-GAAP
Mar, 2025 51,709 2,713 2,121 1,390 23.8 7 May 12, 2025 J-GAAP
Mar, 2026 Guidance 60,000 2,900 2,170 1,320 20.5 8.50 Nov 14, 2025 J-GAAP
YoY +16.0% +6.9% +2.3% -5.0% -13.7%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2024 16,330 1,143 973 741 12.7 7.0 Nov 7, 2024 J-GAAP
Oct - Dec, 2024 10,339 408 235 197 3.4 3.9 Feb 5, 2025 J-GAAP
Jan - Mar, 2025 11,369 370 245 92 1.6 3.3 May 12, 2025 J-GAAP
Apr - Jun, 2025 14,272 975 781 499 8.5 6.8 Aug 7, 2025 J-GAAP
Jul - Sep, 2025 15,378 1,131 968 632 10.8 7.4 Nov 14, 2025 J-GAAP
YoY -5.8% -1.0% -0.5% -14.7% -14.9%

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