Profit must be built up from the third quarter onward to meet the full-year forecast

FY2026-H1 revenue was ¥3,103.345 million, representing 51.7% progress against the full-year forecast of ¥5,998 million. Operating profit was ¥57.418 million, or 53.2% of the ¥108 million full-year forecast. As of the end of the first half, both revenue and operating profit were slightly ahead of the 50% elapsed-calendar-year benchmark. However, year on year, revenue fell 16.4% and operating profit fell 61.2%, so it is necessary to confirm not only the progress rate but also that profit levels have fallen substantially from the previous year.

Working backward from the amounts required in the second half, ¥2,894.655 million is needed to meet the full-year revenue forecast and ¥50.582 million to meet the operating profit forecast. Operating profit would reach the forecast if the first-half result of ¥57.418 million could be maintained to some extent in the second half. However, interim net profit attributable to owners of the parent was ¥25.231 million, only 31.5% of the ¥80 million full-year forecast. On a net profit basis, ¥54.769 million is required in the second half, making the impact of non-operating and extraordinary items, including extraordinary losses and the tax burden, a key focus.

The company's full-year forecasts are revenue of ¥5,998 million, operating profit of ¥108 million, ordinary profit of ¥114 million and net profit attributable to owners of the parent of ¥80 million, representing expected declines of 30.9%, 72.4%, 72.1% and 78.3%, respectively, from the previous fiscal year's results. There was no revision to the earnings forecast in FY2026-H1. The company is maintaining a low full-year plan that incorporates the first-half decline in revenue and profit, although the contraction of the AI-related business and transaction issues at the logistics subsidiary could still result in additional revisions in the second half.

In the next FY2026-Q3 results, we will review nine-month cumulative revenue, operating profit and net profit, as well as the standalone third-quarter profit margin. Key points will be the level of progress against the simple benchmarks of ¥4,498.5 million in revenue, ¥81 million in operating profit and ¥60 million in net profit, and whether the company leaves its full-year forecasts unchanged or revises them to reflect the impact of the subsidiary investigation and business contraction.