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Toyo Seikan Group, Net Income Forecast for the Fiscal Year Revised Upward by 7%, Exceeded Record Profit Forecast

Tue Feb 10, 2026 4:00 pm JST Earnings

5901 Toyo Seikan Group Holdings, Ltd. 【J-GAAP】

Earnings Report

Toyo Seikan Group Holdings, Ltd. <5901> [TSE Prime] announced its financial results after the market closed on February 10th (16:00). The consolidated net income for the cumulative third quarter of the fiscal year ending March 2026 (April to December) expanded 48.3 billion yen, an increase 91.4% compared to the same period last year.

In addition, the full-year forecast for consolidated net income has been revised upward 6.5%, from the previous forecast of 46.0 billion yen to 49.0 billion yen (compared to 22.3 billion yen in the previous period), increasing the growth rate from 2.1 times to 2.2 times. The company has further increased its previous forecast of record profits for the first time in four years.

Based on the full-year plan announced by the company after the upward revision, our estimate of the consolidated net income for the October to March period (second half) is expected to increase 25.3%, from the previous forecast of 11.8 billion yen to 14.8 billion yen (compared to 10.0 billion yen in the same period of the previous year), increasing the growth rate from 17.8% to 47.6%.

In the most recent three-month period, from October to December (3Q), the consolidated net income grew 9.9% from the same period last year, reaching 14.1 billion yen. However, the operating profit margin worsened from 5.3% in the same period last year to 4.6%.

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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
Apr - Dec, 2023 713,711 27,059 31,916 24,211 135.5 82.4 Feb 7, 2024 J-GAAP
Apr - Dec, 2024 698,683 30,651 35,071 25,241 149.1 93.4 Feb 6, 2025 J-GAAP
Apr - Dec, 2025 721,526 41,002 46,625 48,322 316.7 97.1 Feb 10, 2026 J-GAAP
YoY +3.3% +33.8% +32.9% +91.4% +112.4%

Guidance Update

Second Half Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Oct - Mar, 2025 Prev 475,697 14,845 14,581 11,873 79.0 57 Nov 7, 2025 J-GAAP
Oct - Mar, 2025 New 475,697 14,845 14,581 14,873 98.9 57 Feb 10, 2026 J-GAAP
Revision Rate 0.0% 0.0% 0.0% +25.3% +25.3%

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2026 Prev 960,000 45,000 48,000 46,000 305.9 114 May 14, 2025 J-GAAP
Mar, 2026 New 960,000 45,000 48,000 49,000 325.9 114 Feb 10, 2026 J-GAAP
Revision Rate 0.0% 0.0% 0.0% +6.5% +6.5%

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 458,191 15,892 19,148 10,075 60.3 46 May 14, 2025 J-GAAP
Oct - Mar, 2025 Guidance 475,697 14,845 14,581 14,873 98.9 57 Feb 10, 2026 J-GAAP
YoY +3.8% -6.6% -23.9% +47.6% +64.0%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2024 950,663 33,850 38,740 23,083 130.2 90 May 14, 2024 J-GAAP
Mar, 2025 922,516 34,204 37,566 22,394 134.1 91 May 14, 2025 J-GAAP
Mar, 2026 Guidance 960,000 45,000 48,000 49,000 325.9 114 Feb 10, 2026 J-GAAP
YoY +4.1% +31.6% +27.8% +118.8% +143.1%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Oct - Dec, 2024 234,358 12,339 16,653 12,922 76.3 5.3 Feb 6, 2025 J-GAAP
Jan - Mar, 2025 223,833 3,553 2,495 -2,847 -17.0 1.6 May 14, 2025 J-GAAP
Apr - Jun, 2025 240,137 15,081 16,865 16,517 106.0 6.3 Aug 5, 2025 J-GAAP
Jul - Sep, 2025 244,166 15,074 16,554 17,610 114.6 6.2 Nov 7, 2025 J-GAAP
Oct - Dec, 2025 237,223 10,847 13,206 14,195 93.0 4.6 Feb 10, 2026 J-GAAP
YoY +1.2% -12.1% -20.7% +9.9% +21.9%

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