FY2027-Q1 saw lower revenue and an operating loss; a recovery must be demonstrated in H1.

FY2027-Q1 revenue was ¥363.936 million, down 8.7% from ¥398.756 million in the same period of the previous year. The operating loss was ¥29.836 million, the ordinary loss was ¥31.397 million, and the quarterly net loss attributable to owners of the parent was ¥16.018 million. In the same period of the previous year, the operating loss was ¥43.456 million, the ordinary loss was ¥47.221 million, and the net loss was ¥47.221 million. Despite lower revenue, the loss narrowed.

The full-year forecast is revenue of ¥1,600 million, operating profit of ¥40 million, ordinary profit of ¥35 million, and net profit attributable to owners of the parent of ¥60 million. Q1 revenue progress was approximately 22.7%, slightly below the 25% portion of the year that had elapsed. If half of the full-year forecast is used as a simple H1 benchmark, cumulative H1 revenue of ¥800 million is one reference point, requiring additional revenue of ¥436.064 million after the Q1 result.

On the earnings side, the company recorded an operating loss of ¥29.836 million in Q1, so it will need total operating profit of ¥69.836 million over the remaining three quarters from Q2 onward to reach full-year operating profit of ¥40 million. If operating profit turns positive in H1, the operating profit required in the second half falls to ¥40 million. If losses continue in H1, however, the company will need to demonstrate both revenue scale exceeding the ¥810 million recorded in FY2026-H1 and the ability to absorb costs.

By segment, Q1 operating results were a loss of ¥19.150 million in the Voice business, a loss of ¥6.421 million in the CRM business, and a loss of ¥5.929 million in the Liver Management business. Only the Other business posted a profit, at ¥3.232 million. Thus, although the reduction in the company-wide loss is confirmed, the core Voice business and the new Liver Management business are not yet generating profit.

Q1 revenue and earnings results were disclosed, but the amounts attributable to lower revenue and the reduced loss were not broken down by sales volume, unit price, customer or product. In addition, because the company did not prepare a consolidated cash flow statement for Q1, it is not possible to confirm how the earnings improvement was reflected in working capital or cash flows. In FY2027-H1, revenue of ¥800 million, a return to positive operating income, reduced losses in the main segments, and disclosure of operating cash flow will be specific points for assessing the achievability of the full-year forecast.