How much of the full-year forecast, revised upward, will be confirmed in FY2026-Q3

FY2026-H1 revenue was ¥24.953 billion, operating profit was ¥1.658 billion, and interim profit attributable to owners of the parent was ¥1.395 billion. Following the upward revision, the full-year forecasts are revenue of ¥54.381 billion, operating profit of ¥5.033 billion, and profit attributable to owners of the parent of ¥4.120 billion, putting H1 progress at 45.9%, 32.9% and 33.9%, respectively. Revenue is broadly in line with the passage of half the fiscal year, while operating profit and net profit are more heavily weighted toward the second half.

On a standalone second-quarter basis, revenue was ¥12.851 billion and operating profit was ¥1.473 billion. For Q3, the company expects revenue of ¥13.8–13.9 billion, operating profit of ¥1.5–1.7 billion and growth of more than 25% in the existing business. Accordingly, whether Q3 revenue can grow approximately 7–8% from standalone second-quarter revenue and whether operating profit can be maintained at least at the same level will be direct tests of the achievability of the full-year forecast.

After deducting H1 results from the full-year forecasts, the required second-half revenue is ¥29.428 billion, operating profit is ¥3.375 billion and profit attributable to the parent is ¥2.725 billion. If Q3 revenue is ¥13.85 billion and operating profit is ¥1.6 billion, the midpoint of the forecast ranges, Q4 alone would need to generate approximately ¥15.58 billion in revenue and ¥1.78 billion in operating profit. In the Q3 results, we should assess not only cumulative results but also how the company explains the amounts still required in Q4 and the impact of seasonality.

The company also raised its full-year forecasts in the H1 results to revenue of ¥54.381 billion and operating profit of ¥5.033 billion. Even if performance continues to exceed plan in Q3, management's outlook will differ depending on whether it raises the forecast again or leaves it unchanged because of uncertainty in Q4. As the company reports a single segment, the Q3 results should be reviewed for supplementary regional and industry commentary, in addition to company-wide revenue and operating profit, to assess the substance of progress toward the plan.