West Holdings Corporation (1407) investor relations material

Executive summary

• Revenue for the six months ended February 2026 increased 2.1% year-over-year to ¥15,180 million, but operating profit declined 9.5% to ¥1,301 million and net profit attributable to shareholders fell 34.6% to ¥357 million.

• The business environment was marked by domestic economic recovery and global uncertainties, with a focus on renewable energy expansion and regulatory changes in Japan.

• The group continued its shift toward non-FIT solar projects and accelerated investment in grid-scale battery storage, while maintaining efforts in energy efficiency and maintenance services.

Financial highlights

• Operating profit margin decreased as operating profit dropped to ¥1,301 million from ¥1,438 million year-over-year.

• Net profit attributable to shareholders was ¥357 million, down from ¥546 million in the prior year period.

• Total assets at period-end were ¥146,042 million, down ¥2,504 million from the previous fiscal year-end.

• Equity ratio declined to 23.5% from 24.4% at the previous year-end.

• Cash and equivalents increased to ¥42,140 million from ¥35,564 million at the previous year-end.

Outlook and guidance

• Full-year revenue is forecast at ¥54,460 million, up 15.3% year-over-year, with operating profit of ¥11,376 million (+31.6%) and net profit attributable to shareholders of ¥6,602 million (+23.2%).

• No changes were made to previously announced full-year guidance.