A strong start in Q1, but H1 will provide another check on progress toward the full-year plan

The first quarter, from April to June 2026, generated revenue of ¥11,002 million, operating profit of ¥645 million, ordinary profit of ¥659 million and net income attributable to owners of the parent of ¥440 million. Year on year, these increased by 13.3%, 14.0%, 14.9% and 11.2%, respectively, indicating growth not only at the top line but also at each profit level from operating profit downward. As the company has not changed its full-year earnings forecast, Q1 alone shows no slowdown requiring a revision to the plan.

The comparable cumulative results for the first half of the previous fiscal year were revenue of ¥21,135 million, operating profit of ¥1,512 million, ordinary profit of ¥1,529 million and net income of ¥1,036 million. Q1 alone represents approximately 52.1% of the previous H1 revenue, 42.7% of operating profit and 42.5% of net income. However, Q1 and cumulative H1 cover different periods, so these ratios cannot be treated as full-year progress rates without adjustment. At the next earnings release, it will be necessary to confirm whether Q2 sales and profit exceed the year-earlier levels and whether growth can be maintained for H1 as a whole.

The company's FY2027 forecasts are revenue of ¥48,100 million, operating profit of ¥3,250 million, ordinary profit of ¥3,300 million and net income of ¥2,150 million. If a simple 50% of the full-year plan is used as the H1 benchmark, the reference figures are revenue of ¥24,050 million, operating profit of ¥1,625 million, ordinary profit of ¥1,650 million and net income of ¥1,075 million. Q1 progress against the full-year plan was 22.9% for revenue, 19.8% for operating profit, 20.0% for ordinary profit and 20.5% for net income, with profit progress slightly behind revenue. As no specific disclosure on seasonality is available, the 50% benchmark should be treated as a mechanical threshold for verification, not as a forecast.

The company cited corporate IT investment, high-performance and high-durability PCs, the opening of the Toyota store, proposal-based sales to universities and corporate customers, wholesale sales of cosmetics and general merchandise, and the digital content business as factors behind Q1 revenue growth. At the next earnings release, it will be necessary to confirm not only whether these initiatives continued to support revenue in Q2, but also whether the full-year forecast remains unchanged or is revised in light of H1 results.