The full-year target after the upward revision requires second-half operating profit of ¥8.56 billion

Revenue for the six months ended June 2026 was ¥45.841 billion and operating profit was ¥9.439 billion, up 34.1% and 79.7%, respectively, from the same period a year earlier. The operating margin also rose to 20.6%, with the company securing approximately 52.4% of its full-year operating profit forecast of ¥18.0 billion in the first half alone. Revenue progress was approximately 48.8%, while profit progress outpaced revenue progress.

Working backward from the full-year forecast, the company needs to generate revenue of ¥48.159 billion and operating profit of ¥8.561 billion in the second half of 2026. This represents increases of approximately 31.8% and 52.5%, respectively, from second-half revenue of ¥36.533 billion and operating profit of ¥5.616 billion in the previous year. In addition to the strong performance through the second quarter, it is necessary to confirm whether the company can maintain high profit levels in the second half.

Company materials state that revenue and operating profit in the Chemicals business exceeded plan, while the Building Materials business fell short of plan. Accordingly, the third quarter should be assessed not only on consolidated progress, but also on the extent to which the Chemicals business's upside can offset the Building Materials business's shortfall, and whether the full-year forecast remains highly achievable even excluding favorable foreign-exchange and market conditions.

Based on a simple time allocation, nine-month revenue of ¥70.5 billion and operating profit of ¥13.5 billion serve as benchmarks. However, because the company's products are subject to seasonality and fluctuations in overseas demand, these figures should not be treated as mechanical forecasts. They should instead be used as checkpoints for assessing the company's progress at the third-quarter stage, its second-half demand assumptions, and whether the full-year forecast is maintained or revised.