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T.KAWABE, First Half Ordinary Profit Turns to Profit, Jul-Sep Ordinary Profit Increases by 2.8 times

Thu Nov 13, 2025 2:00 pm JST Earnings

8123 T.KAWABE & CO., LTD. 【J-GAAP】

Earnings Report

T.KAWABE & CO., LTD. <8123> [TSE Std] announced its financial results in the afternoon session on November 13th (14:00). The consolidated ordinary profit/loss for the cumulative second quarter of the fiscal year ending March 2026 (April to September) turned into a profit of 127 million yen (compared to a loss of 132 million yen in the same period last year). Progress toward the full-year plan of 379 million yen was 33.5%.

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 significant drop 54.1% from the same period last year to 252 million yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit surged 2.8 times that of the same period last year, reaching 75 million yen. The operating profit/loss margin improved from -0.1% in the same period last year to 1.5%.

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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 5,728 -90 -46 -73 -40.4 ー Nov 13, 2023 J-GAAP
Apr - Sep, 2024 5,594 -188 -132 12 7.0 ー Nov 11, 2024 J-GAAP
Apr - Sep, 2025 6,133 70 127 78 43.2 33.5 Nov 13, 2025 J-GAAP
YoY +9.6% － － +550.0% +518.2%

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 － － May 12, 2025 J-GAAP
Apr - Sep, 2025 Results 6,133 70 127 78 43.2 － Nov 13, 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 13,470 229 379 225 123.3 50 May 12, 2025 J-GAAP
Mar, 2026 New 13,740 229 379 225 123.3 50 Nov 13, 2025 J-GAAP
Revision Rate +2.0% 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 7,175 495 549 399 219.1 50 May 12, 2025 J-GAAP
Oct - Mar, 2025 Guidance 7,337 159 252 147 80.6 50 Nov 13, 2025 J-GAAP
YoY +2.3% -67.9% -54.1% -63.2% -63.2%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2024 13,068 252 355 266 146.3 80 May 13, 2024 J-GAAP
Mar, 2025 12,769 307 417 411 225.6 50 May 12, 2025 J-GAAP
Mar, 2026 Guidance 13,740 229 379 225 123.3 50 Nov 13, 2025 J-GAAP
YoY +7.6% -25.4% -9.1% -45.3% -45.4%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2024 2,876 -3 27 196 114.0 -0.1 Nov 11, 2024 J-GAAP
Oct - Dec, 2024 3,607 227 263 198 108.6 6.3 Feb 14, 2025 J-GAAP
Jan - Mar, 2025 3,568 268 286 201 110.4 7.5 May 12, 2025 J-GAAP
Apr - Jun, 2025 3,048 23 52 34 19.1 0.8 Aug 8, 2025 J-GAAP
Jul - Sep, 2025 3,085 47 75 44 24.3 1.5 Nov 13, 2025 J-GAAP
YoY +7.3% － +177.8% -77.6% -78.7%

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