MITSUBA, Ordinary Profit Forecast for the Fiscal Year Revised Upward to an Unexpected 1% Increase, Dividend Revised Upward by 10 Yen

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Tue Feb 10, 2026 1:00 pm JST Earnings

7280 MITSUBA Corporation 【J-GAAP】

Earnings Report

MITSUBA Corporation <7280> [TSE Prime] announced its financial results in the afternoon session on February 10th (13:00). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending March 2026 (April to December) increased 11.2% from the same period last year, reaching 16.7 billion yen.

In addition, the full-year forecast for consolidated ordinary profit has been revised upward 33.3%, from the previous forecast of 15.0 billion yen to 20.0 billion yen (compared to 19.7 billion yen in the previous period), turning to a 1.1% increase in the consolidated ordinary profit outlook.

Based on the full-year plan announced by the company after the upward revision, our estimate of the consolidated ordinary profit for the October to March period (second half) has been revised upward 2.1 times, from the previous forecast of 4.71 billion yen to 9.71 billion yen (compared to 11.0 billion yen in the same period of the previous year), and the declining rate is expected to decrease from 57.2% to 11.7%.

In light of the strong performance, the company has significantly increased its planned year-end lump-sum dividend for the current fiscal year from the original plan of 15 yen to 25 yen (compared to 10 yen in the previous period).

In the most recent three-month period, from October to December (3Q), the consolidated ordinary profit grew 3.0% from the same period last year, reaching 6.45 billion yen. The operating profit margin improved from 6.2% in the same period last year to 7.1%.

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Actual Results

Accumulated Results 3rd Quarter

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Progress Rate vs. First Half	Announce	Accounting Standards
Apr - Dec, 2023	256,872	14,451	15,711	10,161	217.0	70.3	Feb 14, 2024	J-GAAP
Apr - Dec, 2024	257,378	15,607	15,046	10,470	225.0	76.0	Feb 12, 2025	J-GAAP
Apr - Dec, 2025	253,685	16,065	16,737	7,344	147.0	83.7	Feb 10, 2026	J-GAAP
YoY	-1.4%	+2.9%	+11.2%	-29.9%	-34.7%

Guidance Update

Second Half Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Oct - Mar, 2025 Prev	152,665	6,062	4,713	1,480	29.1	15	Nov 12, 2025	J-GAAP
Oct - Mar, 2025 New	172,665	10,062	9,713	2,480	49.3	25	Feb 10, 2026	J-GAAP
Revision Rate	+13.1%	+66.0%	+106.1%	+67.6%	+69.6%

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2026 Prev	320,000	16,000	15,000	8,000	157.0	15	Aug 5, 2025	J-GAAP
Mar, 2026 New	340,000	20,000	20,000	9,000	178.8	25	Feb 10, 2026	J-GAAP
Revision Rate	+6.3%	+25.0%	+33.3%	+12.5%	+13.9%

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	178,623	10,665	11,004	5,084	107.9	10	May 14, 2025	J-GAAP
Oct - Mar, 2025 Guidance	172,665	10,062	9,713	2,480	49.3	25	Feb 10, 2026	J-GAAP
YoY	-3.3%	-5.7%	-11.7%	-51.2%	-54.4%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2024	344,154	21,152	22,344	13,741	293.6	6	May 10, 2024	J-GAAP
Mar, 2025	349,353	20,930	19,788	11,864	251.9	10	May 14, 2025	J-GAAP
Mar, 2026 Guidance	340,000	20,000	20,000	9,000	178.8	25	Feb 10, 2026	J-GAAP
YoY	-2.7%	-4.4%	+1.1%	-24.1%	-29.0%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Oct - Dec, 2024	86,648	5,342	6,262	3,690	79.3	6.2	Feb 12, 2025	J-GAAP
Jan - Mar, 2025	91,975	5,323	4,742	1,394	29.6	5.8	May 14, 2025	J-GAAP
Apr - Jun, 2025	80,678	4,654	5,042	3,394	69.7	5.8	Aug 5, 2025	J-GAAP
Jul - Sep, 2025	86,657	5,284	5,245	3,126	64.0	6.1	Nov 12, 2025	J-GAAP
Oct - Dec, 2025	86,350	6,127	6,450	824	16.5	7.1	Feb 10, 2026	J-GAAP
YoY	-0.3%	+14.7%	+3.0%	-77.7%	-79.2%