First-quarter results fell short on a time-apportioned basis against the full-year plan after the upward revision

First-quarter revenue for the period from 1 April to 30 June 2026 was ¥19,267 million, and operating profit was ¥6,348 million. Against the full-year forecast of ¥93,300 million in revenue and ¥33,700 million in operating profit, progress was therefore 20.6% and 18.8%, respectively. Compared with the 25.0% of the fiscal year elapsed at the end of the first quarter, revenue was approximately 4.4 percentage points behind and operating profit approximately 6.2 percentage points behind.

Working backward from the full-year forecast, the remaining revenue is ¥74,033 million and the remaining operating profit is ¥27,352 million. Using a mechanical benchmark under which 50% of the full-year forecast is earned in the first half, without taking seasonality into account, cumulative first-half revenue would be expected to reach ¥46,650 million and operating profit ¥16,850 million. From the first-quarter results, this would require standalone second-quarter revenue of ¥27,383 million and operating profit of ¥10,502 million, respectively. This is not the company’s first-half forecast, but a benchmark for measuring progress against the plan at the next results announcement.

The current full-year forecast implies revenue growth of 25.3% and operating profit growth of 34.9% against FY2026 revenue of ¥74,476 million and operating profit of ¥24,976 million. First-quarter revenue increased 11.7% year on year and operating profit increased 5.8%, but meeting a simple 50% first-half benchmark would require second-quarter revenue and operating profit to exceed the first-quarter levels. Accordingly, the next results announcement will be an opportunity to assess not merely whether revenue and profit growth continued, but whether maintaining the full-year forecast remains appropriate.

The first-quarter materials disclose full-year revenue and operating profit forecasts, but do not disclose company forecasts for FY2027 H1, order intake or order backlog. At the next results announcement, it will be necessary to review cumulative first-half results, whether the full-year forecast is maintained, raised or lowered for the second half, and whether second-quarter demand was weighted toward the information and communications or semiconductor-related businesses.