Q1 profit ahead of full-year plan; sustainability to be assessed in FY2027 H1

Q1 of the fiscal year ending March 2027, covering 1 April to 30 June 2026, generated revenue of ¥3,121 million, operating profit of ¥198 million, ordinary profit of ¥200 million and profit attributable to owners of the parent of ¥133 million. Year on year, revenue rose 7.0%, operating profit 286.5%, ordinary profit 293.4% and net profit 415.4%, with each level of the income statement remaining profitable.

The full-year forecasts are revenue of ¥12,600 million, operating profit of ¥710 million, ordinary profit of ¥700 million and net profit of ¥445 million, with no changes made as of Q1. Progress against the full-year forecasts was 24.8% for revenue, 27.9% for operating profit, 28.6% for ordinary profit and 29.9% for net profit. Profit progress was ahead of revenue and, even against a simple one-quarter benchmark, was slightly ahead of schedule.

The H1 forecasts are revenue of ¥6,220 million, operating profit of ¥345 million, ordinary profit of ¥340 million and net profit of ¥210 million. A simple calculation of the difference from Q1 results implies that Q2 alone would need to generate revenue of ¥3,099 million, operating profit of ¥147 million, ordinary profit of ¥140 million and net profit of ¥77 million. This is not the company's standalone Q2 forecast, however, but a mechanical calculation that does not reflect seasonality or market fluctuations.

At the next earnings release, the first point to check will be whether H1 results exceeded the forecasts of ¥6,220 million in revenue, ¥345 million in operating profit, ¥340 million in ordinary profit and ¥210 million in net profit. Other key indicators will be whether H1 progress reaches the benchmarks of 49.4% for revenue and 48.6% for operating profit against the full-year forecasts, whether standalone Q2 operating profit was around ¥147 million, and whether the full-year operating profit forecast of ¥710 million is maintained or revised.