FY2027 H1 focus: progress toward the full-year forecast and the build-up of first-half profit

In the first quarter from April to June 2026, revenue was ¥9,018 million, operating profit was ¥1,606 million and ordinary profit was ¥1,706 million. Year on year, revenue increased 21.6%, operating profit increased 15.8% and ordinary profit increased 21.1%. The company attributed the revenue growth to the membership base of its core services, demand related to live events, and increases in electronic ticket issuance and transaction volume.

Progress against the full-year forecasts was 25.1% for revenue, calculated as ¥9,018 million divided by ¥36,000 million, and 27.7% for operating profit, calculated as ¥1,606 million divided by ¥5,800 million. Ordinary profit reached 28.4%, at ¥1,706 million divided by ¥6,000 million, while net income attributable to owners of the parent was ¥666 million, only 19.0% of the ¥3,500 million full-year forecast. Thus, operating performance is slightly ahead of the 25% quarterly time elapsed, but net income is lagging because of extraordinary losses.

First-quarter revenue growth of 21.6% exceeded the full-year forecast of 13.5% growth from the previous fiscal year, while operating profit growth of 15.8% was almost in line with the full-year forecast of 15.9%. This indicates that revenue growth is leading, but that profit growth may not have substantial headroom relative to the full-year plan. The materials provided do not disclose numerical assumptions for quarterly seasonality in revenue and profit or the allocation of profit between the first and second halves.

At the next H1 results announcement, the first point to check will be whether revenue exceeds ¥18,000 million and operating profit exceeds ¥2,900 million, the simple 50% benchmarks. In addition, it will be necessary to check whether membership and electronic ticket transaction volumes maintained growth at levels similar to the first quarter, whether strategic investments and system-related costs have not pushed down the operating margin, and whether the full-year forecasts of ¥36,000 million and ¥5,800 million remain unchanged.