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MAX, Ordinary Profit Forecast for First Half Revised Upward by 16%, Highest in Two Terms, Full Year also Increased

Thu Jul 31, 2025 3:30 pm JST Earnings

6454 MAX CO., LTD. 【J-GAAP】

Earnings Report

MAX CO., LTD. <6454> [TSE Prime] announced its financial results after the market closed on July 31st (15:30). The consolidated ordinary profit for the first quarter of the fiscal year ending March 2026 (April to June) increased 8.7% from the same period last year, reaching 4.96 billion yen.

In addition, the April to September period (first half) consolidated ordinary profit has been revised upward 16.2%, from the previous forecast of 7.40 billion yen to 8.60 billion yen (compared to 7.15 billion yen in the same period of the previous year), increasing the growth rate from 3.5% to 20.3%, reaches new record high for the first time in two terms.

Following the strong performance in the first half, the full-year forecast for consolidated ordinary profit has been revised upward 6.0%, from the previous forecast of 14.9 billion yen to 15.8 billion yen (compared to 14.8 billion yen in the previous period), increasing the growth rate from 0.6% to 6.7%, further surpassing the previous forecast of record-high profits for five consecutive terms.

In the most recent three-month period, from April to June (1Q), the operating profit margin rose from 17.7% in the same period last year to 20.2%.

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Actual Results

Accumulated Results 1st Quarter
Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Progress Rate vs. First Half Announce Accounting Standards
Apr - Jun, 2023 21,200 3,510 4,196 2,918 61.7 56.4 Jul 31, 2023 J-GAAP
Apr - Jun, 2024 22,588 3,988 4,572 3,340 71.8 63.9 Jul 31, 2024 J-GAAP
Apr - Jun, 2025 24,240 4,894 4,968 3,595 78.3 57.8 Jul 31, 2025 J-GAAP
YoY +7.3% +22.7% +8.7% +7.6% +9.0%

Guidance Update

First Half Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Apr - Sep, 2025 Prev 46,360 7,330 7,400 5,770 127.1 － Apr 30, 2025 J-GAAP
Apr - Sep, 2025 New 47,400 8,600 8,600 6,500 143.2 － Jul 31, 2025 J-GAAP
Revision Rate +2.2% +17.3% +16.2% +12.7% +12.7%

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2026 Prev 94,100 14,700 14,900 11,300 251.4 120 Apr 30, 2025 J-GAAP
Mar, 2026 New 95,200 15,700 15,800 11,800 262.5 120 Jul 31, 2025 J-GAAP
Revision Rate +1.2% +6.8% +6.0% +4.4% +4.4%

Current Period Guidance

H1 Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Apr - Sep, 2024 44,881 7,416 7,150 5,453 117.2 － Oct 31, 2024 J-GAAP
Apr - Sep, 2025 Guidance 47,400 8,600 8,600 6,500 143.2 － Jul 31, 2025 J-GAAP
YoY +5.6% +16.0% +20.3% +19.2% +22.2%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2024 86,638 12,601 13,717 10,435 222.6 101 Apr 26, 2024 J-GAAP
Mar, 2025 91,839 14,468 14,809 11,225 241.8 114 Apr 30, 2025 J-GAAP
Mar, 2026 Guidance 95,200 15,700 15,800 11,800 262.5 120 Jul 31, 2025 J-GAAP
YoY +3.7% +8.5% +6.7% +5.1% +8.5%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Apr - Jun, 2024 22,588 3,988 4,572 3,340 71.8 17.7 Jul 31, 2024 J-GAAP
Jul - Sep, 2024 22,293 3,428 2,578 2,113 45.4 15.4 Oct 31, 2024 J-GAAP
Oct - Dec, 2024 24,129 4,061 4,995 3,656 78.6 16.8 Jan 31, 2025 J-GAAP
Jan - Mar, 2025 22,829 2,991 2,664 2,116 45.6 13.1 Apr 30, 2025 J-GAAP
Apr - Jun, 2025 24,240 4,894 4,968 3,595 78.3 20.2 Jul 31, 2025 J-GAAP
YoY +7.3% +22.7% +8.7% +7.6% +9.0%

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