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Howa Machinery, Ordinary Profit Forecast for the Fiscal Year Revised Downward to an Unexpected 43% Decrease

Fri Nov 14, 2025 3:00 pm JST Earnings

6203 Howa Machinery, Ltd. 【J-GAAP】

Earnings Report

Howa Machinery, Ltd. <6203> [TSE Std] announced its financial results in the afternoon session on November 14th (15:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2026 (April to September) dropped 40.7% from the same period last year to 0.44 billion yen.

In addition, the full-year forecast for consolidated ordinary profit has decreased 43.7%, from the previous forecast of 1.42 billion yen to 0.80 billion yen (compared to 1.41 billion yen in the previous period). This changes the outlook from an anticipated profit increase to a projection of a 43.4% decrease in profit.

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 drop 46.5% from the same period last year to 0.35 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit/loss turned to a loss of 0.06 billion yen (compared to a profit of 0.48 billion yen in the same period last year). The operating profit/loss margin drastically worsened from 8.3% in the same period last year to -0.8%.

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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 9,971 166 258 211 17.5 55.4 Nov 6, 2023 J-GAAP
Apr - Sep, 2024 10,713 638 750 547 45.4 53.1 Nov 8, 2024 J-GAAP
Apr - Sep, 2025 11,770 383 445 106 8.8 55.6 Nov 14, 2025 J-GAAP
YoY +9.9% -40.0% -40.7% -80.6% -80.6%

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 － 0 May 15, 2025 J-GAAP
Apr - Sep, 2025 Results 11,770 383 445 106 8.8 0 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 24,900 1,310 1,420 930 77.0 20 May 15, 2025 J-GAAP
Mar, 2026 New 23,200 670 800 240 19.9 20 Nov 14, 2025 J-GAAP
Revision Rate -6.8% -48.9% -43.7% -74.2% -74.2%

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 14,114 615 663 202 16.8 20 May 15, 2025 J-GAAP
Oct - Mar, 2025 Guidance 11,430 287 355 134 11.1 20 Nov 14, 2025 J-GAAP
YoY -19.0% -53.3% -46.5% -33.7% -33.8%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2024 19,786 388 466 -873 -72.5 20 May 15, 2024 J-GAAP
Mar, 2025 24,827 1,253 1,413 749 62.2 20 May 15, 2025 J-GAAP
Mar, 2026 Guidance 23,200 670 800 240 19.9 20 Nov 14, 2025 J-GAAP
YoY -6.6% -46.5% -43.4% -68.0% -68.0%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2024 6,155 510 486 346 28.7 8.3 Nov 8, 2024 J-GAAP
Oct - Dec, 2024 5,850 395 445 303 25.2 6.8 Feb 14, 2025 J-GAAP
Jan - Mar, 2025 8,264 220 218 -101 -8.4 2.7 May 15, 2025 J-GAAP
Apr - Jun, 2025 5,192 433 507 346 28.8 8.3 Aug 8, 2025 J-GAAP
Jul - Sep, 2025 6,578 -50 -62 -240 -20.0 -0.8 Nov 14, 2025 J-GAAP
YoY +6.9% － － － －

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