FY2026 full-year outlook: revenue is ahead of plan as of 3Q, making 4Q operating profit delivery the key focus

Cumulative 3Q revenue for FY2026 was ¥12,265 million and operating profit was ¥2,151 million, up 26.4% and 26.6%, respectively, year on year. The full-year outlook is revenue of ¥17,000 million, operating profit of ¥3,150 million, ordinary profit of ¥3,140 million and net profit attributable to owners of the parent of ¥2,200 million, and had not been revised as of 3Q. Revenue had reached 72.1% of the full-year outlook and operating profit 68.3%, with revenue progress 3.8 percentage points ahead of operating profit progress.

On a simple calculation, the revenue and operating profit required in 4Q to meet the full-year outlook are ¥4,735 million and ¥999 million, respectively. Based on the cumulative 3Q results and full-year results for the fiscal year ended September 2025, 4Q revenue was approximately ¥3,773 million and operating profit approximately ¥915 million. Accordingly, 4Q revenue would need to increase approximately 25.5% year on year and operating profit approximately 9.2%. In particular, the required standalone 4Q operating margin is approximately 21.1%, above the cumulative 3Q operating margin of approximately 17.5%.

Accordingly, at the next full-year results announcement for FY2026, the focus will be not only on confirming higher revenue and profit, but also on how much growth in rental income, absorption of recruitment and site investment costs, and profit contribution from the visualization business emerged in 4Q. Key disclosure points will include whether the FY2026 forecast operating margin of 18.5% was achieved, whether the company reached the full-year outlook without revising it, and whether an outlook for FY2027 revenue and operating profit, together with a link to the medium-term targets, is provided.