Will the plan for substantial revenue growth and a return to operating profitability in FY2027, ending June, begin in FY2027-Q1?

FY2026 revenue increased 11.4% to ¥3,745.9 million from ¥3,362.2 million in the previous fiscal year, but the company still recorded an operating loss of ¥74.9 million. Ordinary income turned positive at ¥17.99 million, and net income attributable to owners of the parent turned positive at ¥5.545 million, but the company had not yet returned to profitability at the operating level. FY2025 had seen an operating loss of ¥1,443.1 million, an ordinary loss of ¥1,629.2 million and a net loss of ¥2,976.8 million. Although earnings improved substantially, the absolute level of operating income remains thin.

For the nine months ended December 2025, revenue was ¥2,708.1 million and the operating loss was ¥277.4 million. Mechanically calculated from the difference between the nine-month and full-year results, fourth-quarter revenue was approximately ¥1,037.8 million and operating income was approximately ¥202.5 million. Accordingly, the sharp improvement toward the end of the fiscal year may have contributed to the reduction in the full-year operating loss, making FY2027-Q1 the first period in which to assess whether that improvement has become established in ordinary operations.

For FY2027, the company forecasts revenue of ¥5,900 million, operating income of ¥250 million, ordinary income of ¥210 million and net income of ¥200 million. Revenue represents a 57.5% increase over FY2026 actual revenue, while the operating margin would be approximately 4.2% on a simple calculation. The source reviewed does not disclose quarterly earnings forecasts, orders received or order backlog, so full-year achievement cannot be determined from first-quarter figures alone. Key points for verification will be revenue progress, operating income or loss, and whether the full-year forecasts are maintained.

First-quarter revenue of ¥1,475 million is a simple, seasonality-free quarterly benchmark based on dividing the full-year forecast by four, not a quarterly target provided by the company. Even so, if revenue falls substantially below this level, it will be necessary to verify the order ramp supporting the FY2027 revenue target of ¥5,900 million. Conversely, confirmation of both operating profitability and strong revenue progress would reinforce the view that the improvement in product mix and yield achieved in FY2026 is continuing.