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PIGEON, Jan-Sep (Cumulative 3Q) Ordinary Profit Increases by 21%, Jul-Sep Ordinary Profit Increases by 58%

Thu Nov 6, 2025 2:00 pm JST Earnings

7956 PIGEON CORPORATION 【J-GAAP】

Earnings Report

PIGEON CORPORATION <7956> [TSE Prime] announced its financial results in the afternoon session on November 6th (14:00). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending December 2025 (January to September) increased 20.8% from the same period last year, reaching 10.6 billion yen. Progress toward the full-year plan of 12.9 billion yen was 82.7%, almost the same as the five-year average of 81.6%.

Based on the cumulative third-quarter performance announced by the company and the unchanged full-year plan, our calculation indicates that the consolidated ordinary profit for the October to December period (4Q) is expected to drop 49.9% from the same period last year to 2.23 billion yen.

In the most recent three-month period, from July to September (3Q), the consolidated ordinary profit increased 58.0% from the same period last year, reaching 3.79 billion yen. The operating profit margin rose from 10.8% in the same period last year to 12.5%.

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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
Jan - Sep, 2023 72,942 10,183 11,149 7,281 60.9 96.8 Nov 8, 2023 J-GAAP
Jan - Sep, 2024 76,037 8,481 8,833 5,426 45.4 66.5 Nov 7, 2024 J-GAAP
Jan - Sep, 2025 80,526 10,028 10,670 7,035 58.8 82.7 Nov 6, 2025 J-GAAP
YoY +5.9% +18.2% +20.8% +29.7% +29.6%

Current Period Guidance

Second Half Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Jul - Dec, 2024 52,858 6,317 6,851 4,797 40.1 38 Feb 14, 2025 J-GAAP
Jul - Dec, 2025 Guidance 55,966 6,216 6,025 3,776 31.6 38 Aug 7, 2025 J-GAAP
YoY +5.9% -1.6% -12.1% -21.3% -21.3%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Dec, 2023 94,461 10,726 11,522 7,423 62.1 76 Feb 15, 2024 J-GAAP
Dec, 2024 104,171 12,139 13,282 8,371 70.0 76 Feb 14, 2025 J-GAAP
Dec, 2025 Guidance 109,700 12,900 12,900 8,400 70.2 76 Feb 14, 2025 J-GAAP
YoY +5.3% +6.3% -2.9% +0.3% +0.3%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2024 24,724 2,659 2,402 1,852 15.5 10.8 Nov 7, 2024 J-GAAP
Oct - Dec, 2024 28,134 3,658 4,449 2,945 24.6 13.0 Feb 14, 2025 J-GAAP
Jan - Mar, 2025 25,227 3,193 3,214 2,331 19.5 12.7 May 13, 2025 J-GAAP
Apr - Jun, 2025 28,507 3,491 3,661 2,293 19.2 12.2 Aug 7, 2025 J-GAAP
Jul - Sep, 2025 26,792 3,344 3,795 2,411 20.2 12.5 Nov 6, 2025 J-GAAP
YoY +8.4% +25.8% +58.0% +30.2% +30.1%

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