FY2026 Q3: assessing the recovery pace toward achieving full-year guidance

Revenue for the six months ended June 2026 was ¥397.418 million, down 2.1% year on year. Progress toward full-year revenue guidance of ¥1,094 million was 36.3%, below the 50% implied by the elapsed period. Operating loss was ¥60.938 million, ordinary loss was ¥60.603 million, and interim net loss was ¥61.313 million, leaving a substantial gap to full-year guidance of ¥25 million in operating profit, ¥28 million in ordinary profit and ¥30 million in net profit.

Based on a simple calculation from the first-half results, revenue of ¥696.582 million will be required in the second half to achieve full-year revenue guidance. Operating results must also move from the ¥60.938 million first-half loss to a full-year profit of ¥25 million, requiring approximately ¥85.938 million in operating profit in the second half alone. This is not the company’s stated second-half forecast, but a reference level calculated from the difference between first-half results and full-year guidance. In Q3, it will therefore be necessary to assess not only revenue but also the pace of recovery in operating results.

The company has a seasonal pattern in which earnings are concentrated toward the end of the fiscal year. In the fiscal year ended December 2025, Q4 revenue was ¥350.263 million, or 34.1% of the annual total, and operating profit was ¥70.439 million. In the fiscal year ended December 2024, Q4 revenue was also ¥340.164 million, accounting for 33.5% of the annual total. Accordingly, even if the company remains loss-making as of Q3, it cannot immediately be judged to be on track to miss its full-year target based on seasonality alone. However, it is necessary to clarify where nine-month cumulative results stand relative to the previous year’s nine-month cumulative revenue of ¥677 million and operating loss of ¥77 million.

The first-half earnings presentation did not disclose quarterly profit or loss for the three months alone, or the revenue and profit levels required in Q3 and Q4 to achieve full-year guidance. At the Q3 results announcement, we would like to confirm, in addition to cumulative figures, revenue and operating results for July–September alone, the Q4 pipeline and sales outlook in light of seasonality, and whether full-year guidance is maintained or revised.