FY2027-H1: Checkpoint for assessing progress against the full-year plan

In the first quarter of the fiscal year ending March 2027, revenue was ¥839 million, operating profit was ¥73 million, ordinary profit was ¥60 million, and net profit attributable to owners of the parent was ¥66 million. The full-year forecasts are revenue of ¥3,599 million, operating profit of ¥472 million, ordinary profit of ¥447 million, and net profit of ¥446 million, putting Q1 progress at 23.3%, 15.5%, 13.4%, and 14.8%, respectively. Revenue is close to 25% on a calendar-year basis, but operating profit and the figures below it are lagging revenue.

As a simple reference line for measuring six-month progress, the benchmarks are revenue of ¥1,800 million, operating profit of ¥236 million, ordinary profit of ¥224 million, and net profit of ¥223 million. However, given the possibility that the company’s full-year plan is weighted toward the second half, these are merely benchmarks for mechanically checking progress, not the company’s plan itself. At the next earnings announcement, if cumulative Q2 results are below this reference line, it will be important to determine whether the company can separately explain the timing of contributions from the acquired businesses, the seasonality of the existing businesses, and the timing of hiring and integration costs.

Consolidated results for the fiscal year ended March 2026 were revenue of ¥2,111 million and operating profit of ¥242 million, while the forecasts for the fiscal year ending March 2027 call for revenue growth of 70.5% and operating profit growth of 95.1%. Accordingly, in H1 it will be necessary to examine not only whether revenue and profit are both increasing, but also whether operating profit growth is commensurate with revenue growth. Q1 operating margin was approximately 8.7%, calculated as ¥73 million divided by ¥839 million, while the full-year forecast implies an operating margin of approximately 13.1%, presupposing a substantial improvement in margins in the second half.