FY2026 full-year plan is ahead of schedule as of 3Q, but projects and profitability in the final quarter will be the focus.

3Q cumulative revenue for the fiscal year ending September 2026 was ¥32,171 million, and operating profit was ¥1,152 million. The full-year forecast is ¥40,723 million in revenue and ¥1,400 million in operating profit, putting simple progress rates at 79.0% and 82.3%, respectively. Compared with the 75% of the fiscal year elapsed after nine months, revenue is ahead by approximately 4.0 percentage points and operating profit by approximately 7.3 percentage points.

The amounts required in 4Q to achieve the full-year forecast are ¥8,552 million in revenue and ¥248 million in operating profit. On a simple calculation, the operating margin required in 4Q is approximately 2.90%, below the 3Q cumulative operating margin of approximately 3.58%, meaning the plan could still be achieved at that level. However, this calculation does not take seasonality or the timing of large-project revenue recognition into account, so full-year achievement cannot be assumed based solely on progress through 3Q.

The 3Q results included no revision to the full-year forecast, and the plan of ¥40,723 million in revenue and ¥1,400 million in operating profit was maintained. The 2Q results presentation showed that the forecast had previously been raised from ¥40,446 million in revenue and ¥1,310 million in operating profit. An important point in the latest results is that progress as of 3Q is also ahead of the plan following that upward revision.

At the next results announcement, we will want to confirm which businesses—reseller, enterprise or education—generated the ¥8,552 million of 4Q revenue, whether the timing of acceptance for large projects is reflected in the plan, and whether price revisions, operating efficiencies and SG&A management were effective in securing ¥248 million in operating profit. Because order intake, order backlog and the quantitative assumptions underlying the full-year forecast have not been disclosed, the reliability of the plan will depend on the visibility of final-quarter projects and an explanation of the cost assumptions.