Can the remaining amount under the full-year forecast be achieved in Q4?

For the nine months ended May 2026, revenue was ¥15.11156 billion, operating profit was ¥418.77 million, ordinary profit was approximately ¥488 million, and net income attributable to owners of the parent was approximately ¥361 million. Compared with the same period of the previous year, revenue increased 7.3%, operating profit 29.5%, ordinary profit 24.9%, and net income 36.1%, with profit growth outpacing revenue growth.

The full-year forecasts are revenue of ¥19.7 billion, operating profit of ¥500 million, ordinary profit of ¥600 million, and net income of ¥420 million. A simple calculation from the nine-month results indicates that the remaining amounts required in Q4 are approximately ¥4.59 billion in revenue, ¥81 million in operating profit, ¥112 million in ordinary profit, and ¥59 million in net income. Since operating profit progress was 83.8%, above the 76.7% progress for revenue, the company is structured to reach its operating profit forecast even if additional revenue is somewhat weaker. However, non-operating and extraordinary gains and losses continue to affect ordinary profit and net income.

According to the earnings presentation materials, quarterly operating profit was ¥105 million in Q1, ¥141 million in Q2, and ¥171 million in Q3, while quarterly revenue increased from ¥4.715 billion to ¥5.027 billion and then ¥5.368 billion. It will be necessary to confirm whether this quarter-by-quarter improvement continued into Q4 and whether the high profit progress through Q3 was attributable to temporary factors.

At the consolidated subsidiary Seiun Crown, the company has continued to disclose seasonality in which a larger share of revenue is recorded from Q3 onward, corresponding to customers' fiscal year-end and the start of their new fiscal year. Accordingly, at the next earnings announcement, it will be important to determine, together with revenue and profit breakdowns by subsidiary or business, whether Q4 revenue growth was within the normal range associated with seasonality or reflected structural growth from price revisions, new customer acquisition, and expanded sales of proprietary products.