Cumulative 3Q FY2026 results are ahead of the full-year plan on profit.

Cumulative 3Q FY2026 revenue was ¥12,145 million, up 17.7% year on year, operating profit was ¥908 million, up 61.8%, ordinary profit was ¥927 million, up 63.3%, and net profit attributable to owners of the parent was ¥528 million, up 112.4%. The full-year forecasts are revenue of ¥16,433 million, operating profit of ¥1,166 million, ordinary profit of ¥1,194 million and net profit of ¥728 million, putting cumulative 3Q progress rates at 73.9% for revenue, approximately 77.9% for operating profit, approximately 77.6% for ordinary profit and approximately 72.5% for net profit.

On a simple remaining-balance basis, the full-year forecasts will be reached if 4Q revenue is ¥4,288 million, operating profit is ¥258 million, ordinary profit is ¥267 million and net profit is ¥200 million. Operating profit is approximately 4 percentage points ahead of revenue in terms of progress, so at this stage the profit forecasts have a relatively higher probability of being achieved. Meanwhile, the net profit progress rate is the lowest among the profit forecasts, requiring confirmation of the 4Q tax burden, non-operating income and expenses, and extraordinary income and expenses.

Revenue of ¥7,948 million and operating profit of ¥598 million were recorded in the first half, making the standalone 3Q increase approximately ¥4,197 million in revenue and approximately ¥310 million in operating profit. It is positive that revenue and profit continued to grow from the first half through 3Q without a significant deterioration in margins, but standalone quarterly orders, order backlog, sales by customer, and the breakdown of unit prices and headcount in operation have not been disclosed. Accordingly, the next results release should clarify whether 4Q achievement depends on the acceptance of a new large-scale project or on the continued progress of existing projects.

At the next release, we will confirm not only whether full-year revenue of ¥16,433 million and operating profit of ¥1,166 million were actually achieved, but also the standalone 4Q gross profit margin and operating profit margin. As the company has a single segment, the lack of a breakdown of revenue and profit by segment continues, and the contribution from AI-related business, high-value-added projects, deeper penetration of existing customers and acquisition of new customers has not been separated. Whether additional disclosure of orders, order backlog and project-level profitability is provided at the full-year close will be a basis for assessing the sustainability of profit growth.