Can FY2027-H1 reach the 50% threshold of the full-year plan?

Revenue in FY2027 1Q was ¥6.053 billion, operating profit was ¥1.777 billion, and net income was ¥1.267 billion. The latest full-year forecast is revenue of ¥24.0 billion, operating profit of ¥6.0 billion, and net income of ¥4.2 billion, putting progress as of 1Q at 25.2%, 29.6%, and 30.2%, respectively. The fact that progress in operating profit and net income is ahead of revenue indicates that profit growth is leading at this stage.

If the full-year plan is allocated evenly between the first and second halves, the first-half benchmarks would be revenue of ¥12.0 billion, operating profit of ¥3.0 billion, and net income of ¥2.1 billion. Based on 1Q results, 2Q alone would need to generate revenue of ¥5.947 billion, operating profit of ¥1.223 billion, and net income of ¥833 million. However, these are mechanical benchmarks that do not reflect a quarterly plan provided by the company and do not take seasonality into account. Actual results should therefore also be assessed in light of the timing of orders and shipments.

The comparable FY2026 results were revenue of ¥18.624 billion, operating profit of ¥3.533 billion, and net income of ¥2.642 billion. The latest FY2027 forecast assumes increases of ¥5.376 billion in revenue, ¥2.467 billion in operating profit, and ¥1.558 billion in net income from FY2026, with the particularly large increase in operating profit standing out. In the first-half results, it will be important to confirm not only whether cumulative amounts have reached 50% of the full-year plan, but also which quarters and product areas are generating this projected profit growth.

The sources currently available do not yet include cumulative first-half results for FY2027 or 2Q standalone revenue and operating profit. Accordingly, the next results announcement will need to address cumulative first-half results, the year-on-year change in 2Q alone, whether the full-year forecasts of ¥24.0 billion and ¥6.0 billion are maintained or revised, and the company's explanation of the revenue and profit required in the second half. In particular, even if first-half operating profit exceeds ¥3.0 billion, if the full-year forecast is maintained, it will be necessary to determine whether higher costs or seasonal demand in the second half have been assumed.