Tsuruha Holdings beats mid-year forecast amid fiscal year-end shift

Tsuruha Holdings Inc. announced that its consolidated financial results for the first half of the fiscal year ending February 2026 (March 1, 2025 – August 31, 2025) exceeded its April 11, 2025 forecast. Net sales reached JPY 557,831 million, slightly above the JPY 556,600 million forecast. Operating income was JPY 28,444 million, outperforming the JPY 25,600 million forecast, attributed to improved productivity, personnel expense control, and cost reductions.

Ordinary income also surpassed expectations at JPY 28,818 million, compared to the JPY 25,200 million forecast. Net income attributable to owners of the parent significantly exceeded the forecast, reaching JPY 20,365 million against a forecast of JPY 15,300 million, primarily due to gains from the sale of investment securities. Basic earnings per share were JPY 83.64, higher than the JPY 62.88 projected.

The company noted that the current reporting period and the comparative prior-year period differ due to a change in the fiscal year-end from May 15 to February 28, effective from the fiscal year ended February 28, 2025. Furthermore, a five-for-one stock split was implemented on September 1, 2025, which has been reflected in per-share calculations as if it occurred at the beginning of the previous fiscal year. The full-year consolidated earnings forecast remains undetermined due to the pending business integration with Welcia Holdings Co., Ltd., scheduled for December 1, 2025.