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ShinMaywa, Ordinary Profit Forecast for the Fiscal Year Revised Downward to an Unexpected 2% Decrease

Fri Oct 31, 2025 4:00 pm JST Earnings

7224 ShinMaywa Industries, Ltd. 【J-GAAP】

Earnings Report

ShinMaywa Industries, Ltd. <7224> [TSE Prime] announced its financial results after the market closed on October 31st (16:00). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2026 (April to September) decreased 28.2% from the same period last year to 4.00 billion yen.

In addition, the full-year forecast for consolidated ordinary profit has decreased 5.7%, from the previous forecast of 14.0 billion yen to 13.2 billion yen (compared to 13.5 billion yen in the previous period). This changes the outlook from an anticipated profit increase to a projection of a 2.5% 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 grow 15.5% from the same period last year, reaching 9.20 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit decreased to 2.50 billion yen, a 16.9% decrease compared to the same period last year. The operating profit margin worsened from 5.8% in the same period last year to 4.8%.

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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 116,464 4,431 4,858 2,974 45.1 40.1 Oct 31, 2023 J-GAAP
Apr - Sep, 2024 124,065 5,723 5,570 3,179 48.2 41.1 Oct 31, 2024 J-GAAP
Apr - Sep, 2025 122,963 4,577 4,000 2,789 42.2 30.3 Oct 31, 2025 J-GAAP
YoY -0.9% -20.0% -28.2% -12.3% -12.4%

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 － 27 May 7, 2025 J-GAAP
Apr - Sep, 2025 Results 122,963 4,577 4,000 2,789 42.2 27 Oct 31, 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 285,000 15,000 14,000 9,200 139.1 54 Jul 31, 2025 J-GAAP
Mar, 2026 New 285,000 15,000 13,200 9,200 139.1 54 Oct 31, 2025 J-GAAP
Revision Rate 0.0% 0.0% -5.7% 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 142,376 8,247 7,966 5,778 87.5 27 May 7, 2025 J-GAAP
Oct - Mar, 2025 Guidance 162,037 10,423 9,200 6,411 96.9 27 Oct 31, 2025 J-GAAP
YoY +13.8% +26.4% +15.5% +11.0% +10.8%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2024 257,060 11,765 12,106 7,279 110.4 47 May 7, 2024 J-GAAP
Mar, 2025 266,441 13,970 13,536 8,957 135.6 52 May 7, 2025 J-GAAP
Mar, 2026 Guidance 285,000 15,000 13,200 9,200 139.1 54 Oct 31, 2025 J-GAAP
YoY +7.0% +7.4% -2.5% +2.7% +2.6%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2024 66,642 3,881 3,009 1,671 25.3 5.8 Oct 31, 2024 J-GAAP
Oct - Dec, 2024 63,177 2,596 2,878 1,753 26.5 4.1 Feb 4, 2025 J-GAAP
Jan - Mar, 2025 79,199 5,651 5,088 4,025 60.9 7.1 May 7, 2025 J-GAAP
Apr - Jun, 2025 57,665 1,426 1,500 904 13.7 2.5 Jul 31, 2025 J-GAAP
Jul - Sep, 2025 65,298 3,151 2,500 1,885 28.5 4.8 Oct 31, 2025 J-GAAP
YoY -2.0% -18.8% -16.9% +12.8% +12.7%

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