FY2026 full-year plan: profit is ahead of revenue at the interim stage; reassess likelihood of achievement in Q3

In the FY2026 interim period, revenue was ¥34,879 million, operating profit was ¥2,007 million, ordinary profit was ¥2,194 million, and interim net profit attributable to owners of the parent was ¥1,501 million. Year on year, revenue increased 8.1%, operating profit 22.3%, ordinary profit 19.0%, and net profit 19.9%, with all major profit measures increasing. Progress against the full-year forecast was 49.8% for revenue, 55.0% for operating profit, 57.0% for ordinary profit, and 57.3% for net profit, indicating that profit was ahead of revenue in the first half.

The full-year forecasts are revenue of ¥70,000 million, operating profit of ¥3,650 million, ordinary profit of ¥3,850 million, and net profit of ¥2,620 million. The corresponding changes from the previous year's actual results are limited to increases of 2.7%, 0.7%, and 0.2%, respectively, and a 9.6% decrease in net profit. Since the full-year operating profit growth forecast is limited to 0.7%, compared with 22.3% growth in the interim period, it is necessary to determine whether the plan assumes slower profit growth in the second half or whether the first-half increase was driven by temporary factors. The interim operating margin was approximately 5.8%, above the approximately 5.2% implied by the full-year forecast.

As a benchmark for assessing FY2026-Q3, nine-month cumulative revenue of ¥52,500 million and operating profit of ¥2,737.5 million would represent 75% progress against the full-year plan. This is an analytical benchmark based on simply allocating the full-year forecast across nine months, not a quarterly forecast provided by the company. Even if operating profit exceeds this level, it will be necessary to assess not only growth in the information services business and temporary project-related factors, but also whether the decline in the payment collection services business is narrowing.

As for dividends, the FY2026 annual forecast has been raised to ¥100 from the FY2025 actual dividend of ¥90, but no revision has been made to the latest forecast as of the interim period. In FY2026-Q3, the key checks will be not only whether the earnings forecast remains unchanged, but also the assumptions supporting achievement of ¥70,000 million in revenue and ¥3,650 million in operating profit, second-half margins, and maintenance of the ¥100 annual dividend.