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Aqualine, First Half Net Income Turns to Loss, Jun-Aug Net Income Turns to Loss

Wed Oct 15, 2025 6:00 pm JST Earnings

6173 Aqualine Ltd. 【J-GAAP】

Earnings Report

Aqualine Ltd. <6173> [TSE Growth] announced its financial results after the market closed on October 15th (18:00). The consolidated net income/loss for the cumulative second quarter of the fiscal year ending February 2026 (March to August) turned into a loss of 412 million yen (compared to a profit of 43 million yen in the same period last year). As of the end of August, the company fell into a state of excessive liabilities of 212 million yen for the first time in two quarters

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated net income/loss for the September to February period (second half) is expected to turn into a profit of 462 million yen (compared to a loss of 389 million yen in the same period last year).

In the most recent three-month period, from June to August (2Q), the consolidated net income/loss turned to a loss of 237 million yen (compared to a profit of 180 million yen in the same period last year). However, the operating profit/loss margin drastically improved from -18.0% in the same period last year to -10.1%.

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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
Mar - Aug, 2023 2,450 -78 -69 -91 -35.1 Oct 16, 2023 J-GAAP
Mar - Aug, 2024 2,011 -231 -222 43 11.7 Jan 10, 2025 J-GAAP
Mar - Aug, 2025 1,115 -212 -213 -412 -64.0 Oct 15, 2025 J-GAAP
YoY -44.6% +8.2% +4.1%

First Half Results vs. Previous Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar - Aug, 2025 Guidance 0 Apr 14, 2025 J-GAAP
Mar - Aug, 2025 Results 1,115 -212 -213 -412 -64.0 0 Oct 15, 2025 J-GAAP
Revision Rate

Current Period Guidance

Second Half Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Sep - Feb, 2024 1,451 -168 -169 -389 -105.6 0 Apr 14, 2025 J-GAAP
Sep - Feb, 2025 Guidance 1,885 262 263 462 65.1 0 Oct 15, 2025 J-GAAP
YoY +29.9%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Feb, 2024 4,845 -347 -328 -371 -123.7 0 Apr 15, 2024 J-GAAP
Feb, 2025 3,462 -399 -391 -346 -93.9 0 Apr 14, 2025 J-GAAP
Feb, 2026 Guidance 3,000 50 50 50 7.1 0 Apr 14, 2025 J-GAAP
YoY -13.3%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jun - Aug, 2024 887 -160 -158 180 48.8 -18.0 Jan 10, 2025 J-GAAP
Sep - Nov, 2024 755 -108 -109 -230 -62.6 -14.3 Feb 21, 2025 J-GAAP
Dec - Feb, 2024 696 -60 -60 -159 -43.2 -8.6 Apr 14, 2025 J-GAAP
Mar - May, 2025 622 -162 -163 -175 -30.0 -26.0 Jul 15, 2025 J-GAAP
Jun - Aug, 2025 493 -50 -50 -237 -36.8 -10.1 Oct 15, 2025 J-GAAP
YoY -44.4% +68.8% +68.4%

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