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SUNWELS, Net Income Forecast for the Fiscal Year Loss Widened in Downward Revision

Fri Nov 14, 2025 4:00 pm JST Earnings

9229 SUNWELS Co.,Ltd. 【J-GAAP】

Earnings Report

SUNWELS Co.,Ltd. <9229> [TSE Prime] announced its financial results after the market closed on November 14th (16:00). The net income/loss (non-consolidated) for the cumulative second quarter of the fiscal year ending March 2026 (April to September) turned into a loss of 1.51 billion yen (compared to a profit of 0.24 billion yen in the same period last year).

In addition, the full-year forecast for net income/loss has been revised downward from an expected loss of 1.82 billion yen to a loss of 2.28 billion yen (compared to a loss of 0.92 billion yen in the previous period), indicating an expansion in the loss margin.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the net loss for the October to March period (second half) is expected to further decrease loss of 0.76 billion yen (compared to a loss of 1.16 billion yen in the same period last year).

In the most recent three-month period, from July to September (2Q), the net income/loss turned to a loss of 0.79 billion yen (compared to a profit of 0.11 billion yen in the same period last year). The operating profit/loss margin drastically worsened from 9.5% in the same period last year to -7.1%.

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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 9,188 906 667 335 11.1 38.8 Nov 10, 2023 J-GAAP
Apr - Sep, 2024 13,087 1,237 867 242 7.8 223.5 Feb 12, 2025 J-GAAP
Apr - Sep, 2025 13,407 -993 -1,441 -1,517 -46.8 ー Nov 14, 2025 J-GAAP
YoY +2.4% － － － －

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 － 0 May 15, 2025 J-GAAP
Apr - Sep, 2025 Results 13,407 -993 -1,441 -1,517 -46.8 0 Nov 14, 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 31,106 -369 -1,613 -1,823 -56.2 0 May 15, 2025 J-GAAP
Mar, 2026 New 28,844 -1,039 -2,072 -2,281 -70.3 0 Nov 14, 2025 J-GAAP
Revision Rate -7.3% -181.6% -28.5% -25.1% -25.1%

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 13,409 -123 -479 -1,167 -36.7 0 May 15, 2025 J-GAAP
Oct - Mar, 2025 Guidance 15,437 -46 -631 -764 -23.6 0 Nov 14, 2025 J-GAAP
YoY +15.1% +62.6% -31.7% +34.5% +35.9%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2024 20,107 2,273 1,720 802 26.6 14 May 9, 2024 J-GAAP
Mar, 2025 26,496 1,114 388 -925 -29.1 0 May 15, 2025 J-GAAP
Mar, 2026 Guidance 28,844 -1,039 -2,072 -2,281 -70.3 0 Nov 14, 2025 J-GAAP
YoY +8.9% － － -146.6% -141.5%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2024 6,847 653 446 119 3.8 9.5 Feb 12, 2025 J-GAAP
Oct - Dec, 2024 7,206 496 291 -365 -11.5 6.9 Feb 19, 2025 J-GAAP
Jan - Mar, 2025 6,203 -619 -770 -802 -25.3 -10.0 May 15, 2025 J-GAAP
Apr - Jun, 2025 6,605 -507 -687 -725 -22.4 -7.7 Aug 12, 2025 J-GAAP
Jul - Sep, 2025 6,802 -486 -754 -792 -24.4 -7.1 Nov 14, 2025 J-GAAP
YoY -0.7% － － － －

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