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TOSEI, Net Income Forecast for the Fiscal Year Revised Upward by 10%, Raises Record High Profit Forecast, Dividend Revised Upward by 9 Yen

Mon Jul 7, 2025 2:30 pm JST Earnings

8923 TOSEI CORPORATION 【IFRS】

Earnings Report

TOSEI CORPORATION <8923> [TSE Prime] announced its financial results (based on IFRS) in the afternoon session on July 7th (14:30). The consolidated net income for the cumulative second quarter of the fiscal year ending November 2025 (December 2024 to May 2025) increased 21.6% from the same period last year, reaching 12.2 billion yen.

In addition, the full-year forecast for consolidated net income has been revised upward 10.0%, from the previous forecast of 12.8 billion yen to 14.0 billion yen (compared to 11.9 billion yen in the previous period), increasing the growth rate from 6.9% to 17.5%, further surpassing the previous forecast of record-high profits for four 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 June to November period (second half) is expected to decrease 3.5% from the same period last year to 1.85 billion yen.

In light of the strong performance, the company has increased its planned year-end lump-sum dividend for the current fiscal year from the original plan of 89 yen to 98 yen (compared to 79 yen in the previous period).

In the most recent three-month period, from March to May (2Q), the consolidated net income grew 11.8% from the same period last year, reaching 4.05 billion yen. The operating profit margin rose from 23.4% in the same period last year to 26.4%.

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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
Dec - May, 2022 52,861 12,516 12,072 8,164 86.2 78.9 Jul 5, 2023 IFRS
Dec - May, 2023 57,618 14,901 14,372 10,058 103.9 82.8 Jul 5, 2024 IFRS
Dec - May, 2024 66,058 17,600 16,804 12,226 126.1 84.9 Jul 7, 2025 IFRS
YoY +14.6% +18.1% +16.9% +21.6% +21.4%

First Half Results vs. Previous Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Dec - May, 2024 Guidance ー ー ー ー － 0 Jan 10, 2025 IFRS
Dec - May, 2024 Results 66,058 17,600 16,804 12,226 126.1 0 Jul 7, 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
Nov, 2025 Prev 102,078 20,639 18,800 12,806 132.1 44.50 Jan 10, 2025 IFRS
Nov, 2025 New 98,125 21,617 19,800 14,085 145.3 49 Jul 7, 2025 IFRS
Revision Rate -3.9% +4.7% +5.3% +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
Jun - Nov, 2024 24,573 3,587 2,992 1,927 19.9 39.50 Jan 10, 2025 IFRS
Jun - Nov, 2025 Guidance 32,067 4,017 2,996 1,859 19.2 49 Jul 7, 2025 IFRS
YoY +30.5% +12.0% +0.1% -3.5% -3.6%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Nov, 2023 79,446 16,254 15,310 10,507 109.9 33 Jan 12, 2024 IFRS
Nov, 2024 82,191 18,488 17,364 11,985 123.7 39.50 Jan 10, 2025 IFRS
Nov, 2025 Guidance 98,125 21,617 19,800 14,085 145.3 49 Jul 7, 2025 IFRS
YoY +19.4% +16.9% +14.0% +17.5% +17.4%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Mar - May, 2024 22,750 5,316 5,181 3,623 37.4 23.4 Jul 5, 2024 IFRS
Jun - Aug, 2024 11,801 2,154 1,718 1,176 12.1 18.3 Oct 7, 2024 IFRS
Sep - Nov, 2024 12,772 1,433 1,274 751 7.8 11.2 Jan 10, 2025 IFRS
Dec - Feb, 2024 46,066 12,322 11,830 8,176 84.4 26.7 Apr 7, 2025 IFRS
Mar - May, 2025 19,992 5,278 4,974 4,050 41.8 26.4 Jul 7, 2025 IFRS
YoY -12.1% -0.7% -4.0% +11.8% +11.7%

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