Ichinen Holdings Co.,Ltd. Revises Earnings Forecast — Net Profit Up 72%

Ichinen Holdings Co.,Ltd. (TSE:9619) raised its full-year earnings guidance for the fiscal year ending March 2027, driven by acquisition-related gains and stronger-than-expected operational performance.

ItemBeforeAfterChangeChange %
H1 (Apr–Sep 2026)
RevenueJPY 86.8bnJPY 92.1bnJPY 5.3bn+6.2%
Operating ProfitJPY 6.0bnJPY 5.5bn△JPY 0.6bn△9.5%
Ordinary IncomeJPY 5.8bnJPY 5.1bn△JPY 0.7bn△11.3%
Net ProfitJPY 3.7bnJPY 8.0bnJPY 4.3bn+116.2%
EPSJPY 156.18/shareJPY 337.94/shareJPY 181.76/share+116.3%
Full Year (Apr 2026–Mar 2027)
RevenueJPY 173.0bnJPY 205.1bnJPY 32.1bn+18.5%
Operating ProfitJPY 11.5bnJPY 12.2bnJPY 0.7bn+6.4%
Ordinary IncomeJPY 10.8bnJPY 11.3bnJPY 0.6bn+5.2%
Net ProfitJPY 6.9bnJPY 11.9bnJPY 5.0bn+72.3%
EPSJPY 291.84/shareJPY 503.17/shareJPY 211.33/share+72.4%

The revision reflects the acquisition of Taiyo Hihyo Co., Ltd., Ichinen MAC Co., Ltd., and MC Facom Co., Ltd., now consolidated into group results. The company recognized JPY 4.7bn in negative goodwill gains as special income, boosting net profit substantially. Operating profit and ordinary income (keijo rieki)—Japan-specific metrics capturing non-operating financial items—show more modest gains, reflecting seasonal headwinds in the fertilizer business during the first half.

Investors should note the divergence between operating profit growth and net profit expansion. While the acquisition adds JPY 32.1bn in full-year revenue, the outsized net profit uplift stems primarily from one-time negative goodwill accounting rather than operational leverage. The fertilizer segment’s seasonal weakness pressured H1 margins; full-year integration benefits warrant monitoring.

Source: Original filing (TDnet) | 日本語版

This article is for informational purposes only and does not constitute investment advice. Always verify against the original filing.