FY2026 first-half revenue reached 58.6% of plan, while adjusted profit progressed to over 70%

Consolidated revenue from January through June 2026 was ¥13,486 million, up 140.0% year on year. Operating profit was ¥2,140 million, ordinary profit was ¥2,086 million, and interim net income attributable to owners of the parent was ¥1,573 million, representing year-on-year increases of 317.5%, 299.8% and 444.9%, respectively. Progress against the full-year revenue forecast of ¥23,000 million was 58.6%, 8.6 percentage points above the simple 50% benchmark for the first half of the year.

On the adjusted metrics emphasized by the company, adjusted EBITDA was ¥2,992 million and adjusted interim net income was ¥1,448 million. Full-year guidance is ¥4,000 million for adjusted EBITDA and ¥2,000 million for adjusted net income, representing progress of 74.8% and 72.4%, respectively. With only ¥1,008 million of adjusted EBITDA and ¥552 million of adjusted net income still required at the end of the first half, the figures are ahead of plan. However, the year-on-year growth includes the full-year contribution from 7 groups acquired from the second quarter of the previous consolidated fiscal year onward, while growth on a like-for-like basis for existing companies has not been disclosed.

In the third quarter, the key checks will be how much of the remaining ¥9,514 million from first-half revenue of ¥13,486 million to full-year revenue of ¥23,000 million has been accumulated, along with the remaining ¥1,008 million of adjusted EBITDA and ¥552 million of adjusted net income. The full-year forecast does not include forecasts for ordinary operating profit, ordinary profit or net income, so adjusted metrics and accounting profits cannot be compared on the same basis for the full year. It will be important to see whether the third-quarter materials provide additional details on the operating-profit outlook, the contributions from acquisitions and existing companies, and whether the full-year forecast is revised.