Potential for lower future earnings and a net loss

「なお、当社グループのビジネスモデルは売上高及び利益が下期に偏重するため、当中間連結会計期間においては営業損失を計上しております。」

「Net sales were ¥2,345.961 million, up 10.6% year on year; operating profit was ¥173.662 million, up 271.0%; ordinary profit was ¥159.406 million, up 158.3%; and net profit attributable to owners of the parent was ¥109.252 million, up 152.8%.」

「Net sales were ¥677.203 million, up 9.9% year on year; operating loss was ¥188.219 million, compared with operating loss of ¥230.791 million in the same period of the previous year; ordinary loss was ¥181.856 million, compared with ordinary loss of ¥220.769 million; and interim net loss attributable to owners of the parent was ¥130.729 million, compared with interim net loss attributable to owners of the parent of ¥174.608 million.」

「Operating profit was ¥46,811 thousand, down 72.8% from the previous consolidated fiscal year, and ordinary profit was ¥61,719 thousand, down 66.4%. In addition, the Company recorded a gain on negative goodwill of ¥10,511 thousand as extraordinary income arising from the acquisition of the equity interest in 櫻智而望企業管理咨詢（上海）有限公司, announced on 18 February 2025, which was renamed 栄光未来信息技術（上海）有限公司 in April 2025. As a result, profit before income taxes was ¥72,230 thousand, down 60.7% from the previous consolidated fiscal year, and net income attributable to owners of the parent was ¥43,215 thousand, down 66.1%.」

「Operating loss was ¥230,791 thousand (operating loss of ¥161,151 thousand in the same period of the previous year), ordinary loss was ¥220,769 thousand (ordinary loss of ¥145,896 thousand in the same period of the previous year), and interim net loss attributable to owners of the parent was ¥174,608 thousand (interim net loss attributable to owners of the parent of ¥120,235 thousand in the same period of the previous year).」

「Operating loss was ¥161,151 thousand (operating loss of ¥151,674 thousand in the same quarter of the previous year), ordinary loss was ¥145,896 thousand (ordinary loss of ¥148,667 thousand in the same quarter of the previous year), and quarterly net loss attributable to owners of the parent was ¥120,235 thousand (quarterly net loss attributable to owners of the parent of ¥104,289 thousand in the same quarter of the previous year).」

「Operating loss was ¥50,891 thousand (operating loss of ¥45,814 thousand in the same quarter of the previous year), ordinary loss was ¥37,732 thousand (ordinary loss of ¥43,098 thousand in the same quarter of the previous year), and quarterly net loss attributable to owners of the parent was ¥32,536 thousand (quarterly net loss attributable to owners of the parent of ¥32,526 thousand in the same quarter of the previous year).」

「Net sales were ¥2,216.238 million, up 26.2% year on year; operating profit was ¥203.771 million, up 10.1%; ordinary profit was ¥220.248 million, up 17.6%; and net profit attributable to owners of the parent was ¥170.290 million, up 50.3%, setting a new record high.」

「As a result, for the nine months ended December, consolidated net sales were ¥1,688.859 million, up 21.2% year on year; operating profit was ¥170.321 million, up 16.0%; ordinary profit was ¥179.140 million, up 23.2%; and net profit attributable to owners of the parent was ¥119.123 million, up 5.3%.」

「Operating loss was ¥151,674 thousand (operating loss of ¥124,727 thousand in the same quarter of the previous year), ordinary loss was ¥148,667 thousand (ordinary loss of ¥122,863 thousand in the same quarter of the previous year), and quarterly net loss attributable to owners of the parent was ¥104,289 thousand (quarterly net loss attributable to owners of the parent of ¥78,618 thousand in the same quarter of the previous year).」

「Operating loss was ¥45,814 thousand (operating loss of ¥35,682 thousand in the same quarter of the previous year), ordinary loss was ¥43,098 thousand (ordinary loss of ¥34,850 thousand in the same quarter of the previous year), and quarterly net loss attributable to owners of the parent was ¥32,526 thousand (quarterly net loss attributable to owners of the parent of ¥20,874 thousand in the same quarter of the previous year).」

「Net income attributable to owners of the parent was ¥113,281 thousand, up 11.9% from the previous consolidated fiscal year, updating the record high.」

「As a result, for the nine months ended December, consolidated net sales were ¥1,393.319 million, up 11.4% year on year; operating profit was ¥146.837 million, up 24.2%; ordinary profit was ¥145.454 million, up 41.9%; and net profit attributable to owners of the parent was ¥113.149 million, up 56.8%.」

「Operating loss was ¥124,727 thousand (operating loss of ¥44,931 thousand in the same quarter of the previous year), ordinary loss was ¥122,863 thousand (ordinary loss of ¥61,283 thousand in the same quarter of the previous year), and consequently quarterly net loss attributable to owners of the parent was ¥78,618 thousand (quarterly net loss attributable to owners of the parent of ¥38,908 thousand in the same quarter of the previous year).」

「Ordinary loss was ¥34,850 thousand (ordinary loss of ¥14,860 thousand in the same quarter of the previous year), and quarterly net loss attributable to owners of the parent was ¥20,874 thousand (quarterly net loss attributable to owners of the parent of ¥7,905 thousand in the same quarter of the previous year).」

「Net income attributable to owners of the parent was ¥101,205 thousand, up 3.0% from the previous consolidated fiscal year, exceeding ¥100 million for the first time and reaching a record high.」

「As a result, for the nine months ended December, consolidated net sales were ¥1,250.809 million, up 28.9% year on year; operating profit was ¥118.253 million, up 5.0%; ordinary profit was ¥102.475 million, down 8.6%; and net profit attributable to owners of the parent was ¥72.160 million, down 6.1%.」

「Ordinary loss was ¥61,283 thousand (ordinary loss of ¥8,181 thousand in the same quarter of the previous year), and quarterly net loss attributable to owners of the parent was ¥38,908 thousand (quarterly net loss attributable to owners of the parent of ¥5,285 thousand in the same quarter of the previous year).」

「Ordinary loss was ¥14,860 thousand (ordinary profit of ¥6,259 thousand in the same quarter of the previous year), and quarterly net loss attributable to owners of the parent was ¥7,905 thousand (quarterly net profit attributable to owners of the parent of ¥5,689 thousand in the same quarter of the previous year).」

「Net sales amounted to ¥1,305.905 million, up 21.4% from the previous consolidated fiscal year; operating income was ¥135.350 million, up 42.5%; ordinary income was ¥144.337 million, up 41.3%; and net income attributable to owners of the parent was ¥98.276 million, up 28.0%.」

「As a result, for the first nine months of the current consolidated fiscal year, net sales amounted to ¥970.698 million, up 19.2% year on year; operating income was ¥112.585 million, up 121.7%; ordinary income was ¥112.134 million, up 102.8%; and quarterly net income attributable to owners of the parent was ¥76.819 million, up 77.5%.」

「As a result, for the first six months of the current consolidated fiscal year, net sales amounted to ¥427.084 million, up 10.6% year on year; the operating loss was ¥4.923 million, compared with an operating loss of ¥18.273 million in the same quarter of the previous year; the ordinary loss was ¥8.181 million, compared with an ordinary loss of ¥15.224 million; and the quarterly net loss attributable to owners of the parent was ¥5.285 million, compared with a net loss of ¥5.759 million.」

「As a result, for the first quarter of the current consolidated fiscal year, net sales amounted to ¥221.914 million, up 4.7% year on year; operating income was ¥8.288 million, compared with an operating loss of ¥1.079 million in the same quarter of the previous year; ordinary income was ¥6.259 million, up 298.8%; and quarterly net income attributable to owners of the parent was ¥5.689 million, up 49.9%.」

「As a result, for the consolidated fiscal year, net sales amounted to ¥1,076.100 million, up 10.9% from the previous consolidated fiscal year; operating income was ¥94.987 million, up 41.6%; ordinary income was ¥102.162 million, up 40.5%; and net income attributable to owners of the parent was ¥76.799 million, up 38.5%.」

「As a result, for the first nine months of the current consolidated fiscal year, net sales amounted to ¥814.689 million, up 15.9% year on year; operating income was ¥50.774 million, compared with an operating loss of ¥11.387 million in the same quarter of the previous year; ordinary income was ¥55.301 million, compared with an ordinary loss of ¥6.464 million; and quarterly net income attributable to owners of the parent was ¥43.287 million, compared with ¥0.355 million.」

「As a result, for the first six months of the current consolidated fiscal year, net sales amounted to ¥386.267 million, up 5.2% year on year; the operating loss was ¥18.273 million, compared with an operating loss of ¥36.764 million in the same quarter of the previous year; the ordinary loss was ¥15.224 million, compared with an ordinary loss of ¥32.462 million; and the quarterly net loss attributable to owners of the parent was ¥5.759 million, compared with a net loss of ¥18.639 million.」

「As a result, for the first quarter of the current consolidated fiscal year, net sales amounted to ¥211.924 million, up 6.0% year on year; the operating loss was ¥1.079 million, compared with an operating loss of ¥9.329 million in the same quarter of the previous year; ordinary income was ¥1.569 million, compared with an ordinary loss of ¥8.311 million; and net income attributable to owners of the parent was ¥3.796 million, compared with a net loss of ¥5.177 million.」

「As a result, for the first six months of the current consolidated fiscal year, net sales amounted to ¥367.164 million, down 3.4% year on year; the operating loss was ¥36.764 million, compared with operating income of ¥8.304 million in the same quarter of the previous year; the ordinary loss was ¥32.462 million, compared with ordinary income of ¥7.326 million; and the quarterly net loss attributable to owners of the parent was ¥18.639 million, compared with quarterly net income of ¥10.102 million.」

「As a result, for the first quarter of the current consolidated fiscal year, net sales amounted to ¥199.947 million, down 11.8% year on year; the operating loss was ¥9.329 million, compared with operating income of ¥26.992 million in the same quarter of the previous year; the ordinary loss was ¥8.311 million, compared with ordinary income of ¥26.188 million; and the quarterly net loss attributable to owners of the parent was ¥5.177 million, compared with quarterly net income of ¥22.268 million.」

「However, because the Group's principal business, payroll services, is expected to generate recurring monthly sales once a customer has been acquired unless the outsourcing arrangement is terminated for some reason, the possibility of lower earnings due to a sudden, substantial decline in sales is considered low.」

「Although the Group reported net income for the current fiscal year, it cannot guarantee that it will improve profitability or avoid recognizing a net loss in the future.」