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Mitsubishi Estate, Jul-Sep (2Q) Ordinary Profit Decreases by 24%

Mon Nov 10, 2025 3:30 pm JST Earnings

8802 Mitsubishi Estate Company, Limited 【J-GAAP】

Earnings Report

Mitsubishi Estate Company, Limited <8802> [TSE Prime] announced its financial results after the market closed on November 10th (15:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2026 (April to September) increased 4.0% from the same period last year, reaching 82.6 billion yen. However, Progress toward the full-year plan of 270 billion yen was 30.6%, also falling below the five-year average of 38.0%.

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 grow 2.1% from the same period last year, reaching 187 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit decreased to 26.9 billion yen, a 24.3% decrease compared to the same period last year. The operating profit margin decreased from 15.4% in the same period last year to 11.7%.

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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 587,933 90,314 75,224 41,546 32.3 31.2 Nov 9, 2023 J-GAAP
Apr - Sep, 2024 641,065 99,878 79,442 50,021 39.7 30.2 Nov 7, 2024 J-GAAP
Apr - Sep, 2025 743,204 107,590 82,645 58,071 47.0 30.6 Nov 10, 2025 J-GAAP
YoY +15.9% +7.7% +4.0% +16.1% +18.5%

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 － 23 May 12, 2025 J-GAAP
Apr - Sep, 2025 Results 743,204 107,590 82,645 58,071 47.0 23 Nov 10, 2025 J-GAAP
Revision Rate － － － － －

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 938,747 209,354 183,518 139,335 111.1 22 May 12, 2025 J-GAAP
Oct - Mar, 2025 Guidance 1,106,796 217,410 187,355 136,929 112.9 23 Nov 10, 2025 J-GAAP
YoY +17.9% +3.8% +2.1% -1.7% +1.6%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2024 1,504,687 278,627 241,158 168,432 132.0 40 May 10, 2024 J-GAAP
Mar, 2025 1,579,812 309,232 262,960 189,356 151.0 43 May 12, 2025 J-GAAP
Mar, 2026 Guidance 1,850,000 325,000 270,000 195,000 160.8 46 May 12, 2025 J-GAAP
YoY +17.1% +5.1% +2.7% +3.0% +6.5%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2024 312,826 48,080 35,648 24,080 19.1 15.4 Nov 7, 2024 J-GAAP
Oct - Dec, 2024 406,854 94,600 87,367 55,770 44.4 23.3 Feb 7, 2025 J-GAAP
Jan - Mar, 2025 531,893 114,754 96,151 83,565 66.7 21.6 May 12, 2025 J-GAAP
Apr - Jun, 2025 356,954 62,405 55,672 31,985 25.8 17.5 Aug 7, 2025 J-GAAP
Jul - Sep, 2025 386,250 45,185 26,973 26,086 21.1 11.7 Nov 10, 2025 J-GAAP
YoY +23.5% -6.0% -24.3% +8.3% +10.6%

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