First-half progress is broadly on plan, with Q2 confirming attainment of 50%.

FY2027 Q1 revenue was ¥10,126 million and operating profit was ¥1,216 million. Against full-year forecasts of ¥42,500 million in revenue and ¥5,100 million in operating profit, progress was 23.8% for both revenue and operating profit. The gap versus the 25% elapsed-quarter benchmark was approximately 1.2 percentage points, so no significant shortfall or front-loading was identified in Q1 alone.

Using a simple 50% of the full-year plan as the first-half benchmark, first-half cumulative revenue needs to reach ¥21,250 million and operating profit ¥2,550 million. Based on Q1 actuals, standalone Q2 revenue of ¥11,124 million and operating profit of ¥1,334 million would be required to reach these benchmarks. However, quarterly profit allocation may vary depending on the timing of acceptance for software development projects and seasonality. The 50% figure should therefore be treated as a mechanical benchmark for measuring progress, not as the company's first-half forecast.

In the Q1 materials provided, the numerical plans explicitly stated by the company are full-year revenue of ¥42,500 million, operating profit of ¥5,100 million, ordinary profit of ¥5,300 million and net income of ¥3,650 million. No company forecast for first-half cumulative figures or quarterly forecast allocation could be confirmed. Accordingly, at the next results announcement, it will be necessary to check not only first-half cumulative actuals but also the company's assessment against its full-year forecasts, whether the forecasts have been revised, and the remaining revenue and operating profit required in the second half.

At the end of Q1, the amounts remaining to achieve the full-year forecasts were ¥32,374 million in revenue and ¥3,884 million in operating profit. If first-half progress exceeds 50%, revenue required in the second half will be less than ¥21,250 million. If first-half progress falls substantially below 50%, the plan may assume that AI-related demand and higher development unit prices will continue into the second half. Next time, it will be important to check not only changes in actual results but also whether the basis for maintaining the full-year forecasts lies in orders, staffing or unit prices.