Results for this period
First quarter1 January 2026–31 March 2026ConsolidatedJapanese GAAPThe width of the band at each stage is based on revenue. The narrower it becomes toward the bottom, the smaller the proportion of revenue that remains as profit. The dotted outline is the full-year forecast and the band inside it is the result for this period. The progress rate is the result divided by the forecast.
塗りつぶした部分が自己資本比率です。総資産のうち、返済のいらない自前の資金がどれだけかを表します。The thin vertical line indicates the level at the end of the previous fiscal year.
Net sales declined because the Ministry of Defense project titled “Space Demonstration of a SAR Satellite Suitable for National Security Applications,” which was delivered and recognized as revenue in the year-earlier period, did not contribute in the current period. The increase in cost of sales was due to the direct costs of the Cabinet Office demonstration project, while the increase in selling, general and administrative expenses was due to higher share-based compensation expense, personnel costs resulting from increased headcount, and outsourcing expenses related to the expansion of the sales structure.
A description of significant events and conditions is included. The company recognizes events or conditions that raise substantial doubt due to continuing operating losses, but has determined that there are no significant concerns regarding cash management for at least one year and that no material uncertainty exists regarding the going concern assumption. The notes section states, “No applicable matters.”
| Item | Details |
|---|---|
| Fiscal Period Classification | First quarter |
| Accounting standards | Japanese GAAP |
| Consolidated / non-consolidated | Consolidated |
| Period Covered | 1 January 2026–31 March 2026 |
| Net Sales | 697 Millions of yen (YoY -38.7%) |
| Operating profit | -1,613 Millions of yen |
| Ordinary income | -1,694 Millions of yen |
| Profit attributable to owners of the parent | -1,731 Millions of yen |
| Net income per share | ¥(13.14) |
| Equity ratio | End of the current fiscal period 74.3 / End of previous period 76.2 |
| Total assets | 48,361 Millions of yen |
| Net assets | 37,303 Millions of yen |
| Full-year earnings forecast | Net Sales 6,353 Millions of yen (YoY +167.3%) / Operating profit -5,467 Millions of yen / Ordinary income 3,010 Millions of yen / Net income 2,624 Millions of yen |
| Revision to Earnings Forecast | Not disclosed |
| Annual Dividend Forecast | ¥0 → ¥0（0.0%） |
| Orders received and order backlog | ¥124,392,987 thousand |
| Depreciation and amortization | ¥594,727 thousand |
| Breakdown of extraordinary income (loss) | Extraordinary income No recognition / Extraordinary loss Loss on Disposal of Fixed Assets ¥1,543 thousand |
| Disclosure regarding the going concern assumption | A description of significant events and conditions is included. The company recognizes events or conditions that raise substantial doubt due to continuing operating losses, but has determined that there are no significant concerns regarding cash management for at least one year and that no material uncertainty exists regarding the going concern assumption. The notes section states, “No applicable matters.” |
| Change in accounting policy | Changes due to revisions to standards No / Other changes No / Change in accounting estimate No / Restatement No |
| Changes in the scope of consolidation | Added: 0 companies; excluded: 0 companies |
| Material subsequent events | No applicable matters. |
| Availability of Supplementary Financial Results Materials | Yes |
| Availability of Financial Results Briefing | No (no target participants specified) |
| Issued Shares at Period-End | 131,879,450 shares |
| Treasury Shares at Period-End | 0 shares |
| Factors Behind Changes in Business Performance | Net sales declined because the Ministry of Defense project titled “Space Demonstration of a SAR Satellite Suitable for National Security Applications,” which was delivered and recognized as revenue in the year-earlier period, did not contribute in the current period. The increase in cost of sales was due to the direct costs of the Cabinet Office demonstration project, while the increase in selling, general and administrative expenses was due to higher share-based compensation expense, personnel costs resulting from increased headcount, and outsourcing expenses related to the expansion of the sales structure. |
Items this document does not state (11)
These are items the company does not state in this document. We do not leave them blank, nor fill them in from other sources or by inference.
The reasons the company gives
The company's own explanation, not something inferred from the numbers.Net sales declined because the Ministry of Defense project titled “Space Demonstration of a SAR Satellite Suitable for National Security Applications,” which was delivered and recognized as revenue in the year-earlier period, did not contribute in the current period. The main factors cited were the direct costs of the Cabinet Office demonstration project in cost of sales, and higher share-based compensation expense, personnel costs resulting from increased headcount, and outsourcing expenses related to the expansion of the sales structure in selling, general and administrative expenses.