Can the first-quarter earnings lead be sustained in FY2027-H1?

In the first quarter from April to June 2026, revenue was ¥14,186 million, up 3.8% year on year. Operating profit, however, was ¥1,031 million, down 56.1% year on year. Against full-year forecasts of ¥48,000 million in revenue and ¥2,500 million in operating profit, revenue progress was 29.6% and operating profit progress was 41.2%, putting profit progress 11.6 percentage points ahead of revenue progress.

In FY2027-H1, if simply viewed as the halfway point of the annual plan, revenue of ¥24,000 million and operating profit of ¥1,250 million would be the comparison benchmarks. However, the company has not disclosed quarterly earnings plans or specific seasonality figures, so failure to reach 50% alone cannot be taken to indicate that the full-year target will be missed. More important is how much of the first-quarter operating profit progress rate of 41.2% is maintained in cumulative second-quarter results, and whether the gap with revenue narrows.

First-quarter ordinary profit was ¥1,023 million, and profit for the quarter attributable to owners of the parent was ¥565 million. Full-year forecasts are ordinary profit of ¥2,300 million and profit attributable to owners of the parent of ¥1,500 million. The first-quarter results included no revisions to the earnings forecasts. In the next results release, it will be necessary to check not only whether the full-year forecasts remain unchanged, but also the progress rates for cumulative revenue, operating profit, ordinary profit and net profit.

The leisure and entertainment-related business was presented as the main reportable segment, while disclosure of the other business segments was omitted because they were considered immaterial. Accordingly, even when evaluating profit progress in FY2027-H1, it will be difficult to separate the contributions of events, ticket sales and systems-related operations using consolidated figures alone. Whether revenue and profit by segment or business are added will be an important disclosure point in assessing the certainty of the full-year plan.