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Citizen Watch, Ordinary Profit Forecast for the Fiscal Year Revised Upward to an Unexpected 26% Increase

Wed Nov 12, 2025 3:30 pm JST Earnings

7762 Citizen Watch Co., Ltd. 【J-GAAP】

Earnings Report

Citizen Watch Co., Ltd. <7762> [TSE Prime] announced its financial results after the market closed on November 12th (15:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2026 (April to September) expanded 16.1 billion yen, an increase 32.0% compared to the same period last year, resulting in an increase in profits compared to the previous forecast of an 18.5% decrease.

In addition, the full-year forecast for consolidated ordinary profit has been revised upward 31.8%, from the previous forecast of 22.0 billion yen to 29.0 billion yen (compared to 23.0 billion yen in the previous period), turning to a 26.0% increase in the consolidated ordinary profit outlook.

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 19.0% from the same period last year, reaching 12.8 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit surged 2.0 times that of the same period last year, reaching 10.0 billion yen. The operating profit margin improved from 9.5% in the same period last year to 9.9%.

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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 152,924 13,542 17,417 13,388 54.3 56.5 Nov 13, 2023 J-GAAP
Apr - Sep, 2024 156,516 12,328 12,266 12,279 50.4 53.3 Nov 11, 2024 J-GAAP
Apr - Sep, 2025 159,250 12,986 16,197 11,880 48.7 55.9 Nov 12, 2025 J-GAAP
YoY +1.7% +5.3% +32.0% -3.2% -3.3%

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 155,000 9,000 10,000 11,000 45.1 23.50 May 13, 2025 J-GAAP
Apr - Sep, 2025 Results 159,250 12,986 16,197 11,880 48.7 23.50 Nov 12, 2025 J-GAAP
Revision Rate +2.7% +44.3% +62.0% +8.0% +8.0%

Guidance Update

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2026 Prev 318,000 20,000 22,000 20,000 82.0 47 May 13, 2025 J-GAAP
Mar, 2026 New 327,000 24,500 29,000 22,000 90.2 47 Nov 12, 2025 J-GAAP
Revision Rate +2.8% +22.5% +31.8% +10.0% +10.0%

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 160,369 8,264 10,758 11,597 47.6 22.50 May 13, 2025 J-GAAP
Oct - Mar, 2025 Guidance 167,750 11,514 12,803 10,120 41.5 23.50 Nov 12, 2025 J-GAAP
YoY +4.6% +39.3% +19.0% -12.7% -12.8%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2024 312,830 25,068 30,810 22,958 93.6 40 May 13, 2024 J-GAAP
Mar, 2025 316,885 20,592 23,024 23,876 97.9 45 May 13, 2025 J-GAAP
Mar, 2026 Guidance 327,000 24,500 29,000 22,000 90.2 47 Nov 12, 2025 J-GAAP
YoY +3.2% +19.0% +26.0% -7.9% -7.9%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2024 80,628 7,644 4,919 3,736 15.3 9.5 Nov 11, 2024 J-GAAP
Oct - Dec, 2024 85,193 6,708 9,721 9,928 40.7 7.9 Feb 12, 2025 J-GAAP
Jan - Mar, 2025 75,176 1,556 1,037 1,669 6.8 2.1 May 13, 2025 J-GAAP
Apr - Jun, 2025 75,282 4,699 6,166 9,186 37.7 6.2 Aug 13, 2025 J-GAAP
Jul - Sep, 2025 83,968 8,287 10,031 2,694 11.0 9.9 Nov 12, 2025 J-GAAP
YoY +4.1% +8.4% +103.9% -27.9% -27.9%

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