Profit is tracking ahead of the full-year plan following the upward revision

In Q1, covering April to June 2026, revenue was ¥191.420 billion and operating profit was ¥9.640 billion. Against full-year forecasts of ¥750.000 billion in revenue and ¥26.500 billion in operating profit, the simple progress rates were 25.5% and 36.4%, respectively. Revenue was close to the proportion of the year elapsed, while operating profit had already reached more than one-third of the full-year plan, indicating that profit is ramping up ahead of revenue.

Compared with the same period of the previous year, revenue increased 43.4% from ¥133.529 billion to ¥191.420 billion, while operating profit increased 487.2% from ¥1.641 billion to ¥9.640 billion. Based on Q1 results and the business environment, the company raised its previous forecasts of ¥700.000 billion in revenue and ¥18.000 billion in operating profit by ¥50.000 billion and ¥8.500 billion, respectively. The 47.2% increase in the operating profit forecast was substantially greater than the 7.1% increase in the revenue forecast.

The amounts still required to achieve the full-year targets after Q1 are ¥558.580 billion in revenue and ¥16.860 billion in operating profit. Accordingly, in FY2027-H1 it will be necessary to examine not only the absolute amounts of cumulative Q2 revenue and operating profit, but also whether the amount required in the second half after the end of H1 has become excessively large. The disclosures provided do not include the company’s cumulative Q2 plan.

Because the company’s plan has not been disclosed, the simple half-year run rates of ¥375.000 billion in revenue and ¥13.250 billion in operating profit are merely mechanical benchmarks for tracking progress against the forecasts. They may differ from the company’s own H1 plan, which would reflect seasonality, product prices and foreign-exchange effects. At the next results announcement, H1 actual figures, whether the full-year forecast is maintained or revised again, and the sustainability of margins should be reviewed together to assess whether Q1’s high profit progress is repeatable.