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Forum Engineering, First Half Ordinary Profit Unexpectedly Revised Upward by 20%, Postponed Dividend for This Fiscal Year

Mon Nov 10, 2025 3:30 pm JST Earnings

7088 Forum Engineering Inc. 【J-GAAP】

Earnings Report

Forum Engineering Inc. <7088> [TSE Prime] announced its financial results after the market closed on November 10th (15:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2026 (April to September) increased 19.5% from the same period last year, reaching 2.46 billion yen, resulting in an increase in profits compared to the previous forecast of a 5.6% decrease.

Progress toward the full-year plan of 5.03 billion yen was 49.0%, exceeding the five-year average of 37.4%.

Based on the first-half performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated ordinary profit for the October to March period (second half) is expected to grow 15.7% from the same period last year, reaching 2.56 billion yen.

At the same time, In conjunction with a Tender Offer Bid (TOB), the company has decided to forgo the annual dividend of 62.5 yen for the current fiscal year.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit increased 39.8% from the same period last year, reaching 1.26 billion yen. The operating profit margin rose from 10.5% in the same period last year to 13.4%.

Kabutan News

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 15,304 1,276 1,275 856 16.6 42.3 Nov 9, 2023 J-GAAP
Apr - Sep, 2024 16,955 2,028 2,065 1,378 26.4 48.2 Nov 8, 2024 J-GAAP
Apr - Sep, 2025 18,480 2,426 2,468 1,663 31.6 49.0 Nov 10, 2025 J-GAAP
YoY +9.0% +19.6% +19.5% +20.7% +19.9%

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 18,280 1,925 1,950 1,295 24.6 31 May 14, 2025 J-GAAP
Apr - Sep, 2025 Results 18,480 2,426 2,468 1,663 31.6 0 Nov 10, 2025 J-GAAP
Revision Rate +1.1% +26.0% +26.6% +28.4% +28.6%

Guidance Update

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2026 Prev 38,200 5,000 5,035 3,400 64.5 62.50 May 14, 2025 J-GAAP
Mar, 2026 New 38,200 5,000 5,035 3,400 64.5 0 Nov 10, 2025 J-GAAP
Revision Rate 0.0% 0.0% 0.0% 0.0% 0.0%

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 17,733 2,173 2,219 1,506 28.8 32 May 14, 2025 J-GAAP
Oct - Mar, 2025 Guidance 19,720 2,574 2,567 1,737 33.0 0 Nov 10, 2025 J-GAAP
YoY +11.2% +18.5% +15.7% +15.3% +14.6%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2024 31,279 3,029 3,017 2,039 39.4 37.50 May 14, 2024 J-GAAP
Mar, 2025 34,688 4,201 4,284 2,884 55.1 53 May 14, 2025 J-GAAP
Mar, 2026 Guidance 38,200 5,000 5,035 3,400 64.5 0 Nov 10, 2025 J-GAAP
YoY +10.1% +19.0% +17.5% +17.9% +17.2%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2024 8,427 887 905 604 11.6 10.5 Nov 8, 2024 J-GAAP
Oct - Dec, 2024 9,097 1,389 1,414 952 18.2 15.3 Feb 7, 2025 J-GAAP
Jan - Mar, 2025 8,636 784 805 554 10.6 9.1 May 14, 2025 J-GAAP
Apr - Jun, 2025 9,228 1,185 1,203 810 15.4 12.8 Aug 8, 2025 J-GAAP
Jul - Sep, 2025 9,252 1,241 1,265 853 16.2 13.4 Nov 10, 2025 J-GAAP
YoY +9.8% +39.9% +39.8% +41.2% +40.3%

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