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Japan Exchange, Net Income Forecast for the Fiscal Year Revised Upward by 1%, Raises Record High Profit Forecast

Wed Oct 29, 2025 12:00 pm JST Earnings

8697 Japan Exchange Group, Inc. 【IFRS】

Earnings Report

Japan Exchange Group, Inc. <8697> [TSE Prime] announced its financial results (based on IFRS) at noon (12:00) on October 29th. The consolidated net income for the cumulative second quarter of the fiscal year ending March 2026 (April to September) increased 6.9% from the same period last year, reaching 34.5 billion yen.

In addition, the full-year forecast for consolidated net income has been revised upward 0.8%, from the previous forecast of 64.5 billion yen to 65.0 billion yen (compared to 61.0 billion yen in the previous period), increasing the growth rate from 5.6% to 6.4%, further surpassing the previous forecast of record-high profits for three consecutive terms.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the consolidated net income for the October to March period (second half) is expected to grow 5.8% from the same period last year, reaching 30.4 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated net income grew 5.9% from the same period last year, reaching 17.5 billion yen. However, the operating profit margin decreased from 58.9% in the same period last year to 56.8%.

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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 73,385 44,499 44,506 31,432 30.2 50.9 Oct 26, 2023 IFRS
Apr - Sep, 2024 81,810 47,718 47,726 32,308 31.1 52.9 Oct 29, 2024 IFRS
Apr - Sep, 2025 89,322 51,279 51,487 34,553 33.5 53.1 Oct 29, 2025 IFRS
YoY +9.2% +7.5% +7.9% +6.9% +7.8%

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 － 25 Sep 24, 2025 IFRS
Apr - Sep, 2025 Results 89,322 51,279 51,487 34,553 33.5 25 Oct 29, 2025 IFRS
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 175,000 95,500 96,000 64,500 62.8 50 Sep 24, 2025 IFRS
Mar, 2026 New 176,000 96,500 97,000 65,000 63.2 50 Oct 29, 2025 IFRS
Revision Rate +0.6% +1.0% +1.0% +0.8% +0.8%

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 80,420 42,404 42,551 28,784 27.7 29 Apr 28, 2025 IFRS
Oct - Mar, 2025 Guidance 86,678 45,221 45,513 30,447 29.6 25 Oct 29, 2025 IFRS
YoY +7.8% +6.6% +7.0% +5.8% +7.0%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2024 152,871 87,444 87,404 60,822 58.5 45.50 Apr 30, 2024 IFRS
Mar, 2025 162,230 90,122 90,277 61,092 58.7 45.50 Apr 28, 2025 IFRS
Mar, 2026 Guidance 176,000 96,500 97,000 65,000 63.2 50 Oct 29, 2025 IFRS
YoY +8.5% +7.1% +7.4% +6.4% +7.7%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2024 41,482 24,427 24,433 16,540 15.9 58.9 Oct 29, 2024 IFRS
Oct - Dec, 2024 39,781 21,723 21,784 14,659 14.1 54.6 Jan 30, 2025 IFRS
Jan - Mar, 2025 40,639 20,681 20,767 14,125 13.6 50.9 Apr 28, 2025 IFRS
Apr - Jun, 2025 43,451 25,233 25,310 17,029 16.4 58.1 Jul 30, 2025 IFRS
Jul - Sep, 2025 45,871 26,046 26,177 17,524 17.0 56.8 Oct 29, 2025 IFRS
YoY +10.6% +6.6% +7.1% +5.9% +6.7%

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