FY2026 full-year outlook above the mid-term plan target, with the next focus on second-half repeatability

For the six months ended June 2026, consolidated revenue was ¥36,376 million, operating profit was ¥2,023 million, ordinary profit was ¥2,624 million, and interim net profit attributable to owners of the parent was ¥1,860 million. Year on year, revenue increased 15.1%, operating profit 42.8%, ordinary profit 45.8%, and net profit 5.5%, with stronger growth through the operating-profit level. The full-year outlook is revenue of ¥75,000 million, operating profit of ¥4,200 million, ordinary profit of ¥4,800 million, and net profit of ¥3,400 million, putting interim progress at 48.5% for revenue and 48.2% for operating profit.

Subtracting interim results from the revised full-year outlook leaves ¥38,624 million in revenue, ¥2,177 million in operating profit, ¥2,176 million in ordinary profit, and ¥1,540 million in net profit required in the second half. The outlook is not based on an assumption that the first-half margins will continue unchanged, so at the third quarter it will be necessary to examine not only cumulative figures but also second-half sales volumes, the degree to which price revisions have taken effect, and the extent to which cost increases have been absorbed. In particular, the plan calls for operating profit in the second half to be approximately the same as in the first half.

By segment, the Packaging Materials-Related Business recorded interim revenue of ¥38,239 million and segment profit of ¥2,089 million, up 15.0% and 35.8%, respectively, year on year. The Real Estate Leasing Business recorded revenue of ¥203 million and segment profit of ¥170 million, up just 2.2% and 2.3%, respectively. Accordingly, the key variable for achieving the full-year outlook is the Packaging Materials-Related Business, and particular attention should be paid at the third quarter to whether its profit growth has slowed.

The targets of the 2024–2026 mid-term management plan are revenue of ¥70,000 million, operating profit of ¥3,000 million, and an operating margin of 4.3%. The current full-year outlook is ¥5,000 million higher for revenue and ¥1,200 million higher for operating profit. At the next results announcement, we will assess whether third-quarter cumulative revenue and operating profit are maintaining this upside and whether the full-year outlook is being left unchanged or revised again.