The FY2027 operating profit growth plan will begin to be tested from the first quarter

FY2026 revenue was ¥25,634 million, up just 1.0% from ¥25,370 million in the previous year. Operating profit, however, was ¥1,100 million, turning positive from an operating loss of ¥1,155 million in the previous year. Profit before tax was ¥925 million, and profit for the year attributable to owners of the parent was ¥465 million, meaning that net income also turned positive from a loss of ¥1,711 million in the previous year.

This improvement was driven more by a recovery from the low profit level of the previous year than by rapid revenue growth. Dividing FY2026 operating profit of ¥1,100 million by revenue of ¥25,634 million gives a simple operating margin of approximately 4.3%. The FY2027 operating profit forecast of ¥2,000 million is ¥899.7 million, or 81.8%, above the FY2026 result, while the projected increase in revenue is only 1.4%. Accordingly, the focus for the next fiscal year will shift from growth in transaction volume alone to margin improvement, including selling, general and administrative expenses and the performance of group companies.

The FY2027 forecasts are revenue of ¥26,000 million, operating profit of ¥2,000 million, profit before tax of ¥1,800 million, and profit for the year attributable to owners of the parent of ¥1,100 million. The forecast operating margin is approximately 7.7%, requiring an improvement of approximately 3.4 percentage points from the approximately 4.3% recorded in FY2026. However, the information provided does not disclose first-quarter seasonality, quarterly profit plans, or the profit contribution from the standalone company and its subsidiaries.

In FY2027-Q1, it will be necessary to check not only whether revenue is growing year on year but also whether that growth is translating into operating profit. Of particular importance will be whether operating profit remains positive and the margin exceeds the FY2026 full-year level, and whether the company provides its assessment of the ¥2,000 million full-year forecast or an explanation for maintaining it. Without disclosure of segment profit, the breakdown of SG&A expenses, and contributions by group company, the information available to quantitatively test the full-year plan will remain limited.