Q3 confirms operating profit is ahead of the full-year plan after the upward revision

In FY2026-H1, revenue was ¥4,413 million, down 0.1% year on year, while operating profit was ¥358 million, ordinary profit was ¥307 million and interim net profit attributable to owners of the parent was ¥201 million. Operating profit rose 31.0% year on year, ordinary profit rose 3.4% and interim net profit rose 15.6%. Profit therefore increased despite revenue remaining almost flat.

At the interim results, the full-year forecasts were revised to revenue of ¥8,657 million, operating profit of ¥630 million, ordinary profit of ¥542 million and net profit attributable to owners of the parent of ¥367 million. On a simple calculation, interim progress rates were 51.0% for revenue, 56.8% for operating profit, 56.6% for ordinary profit and 54.8% for net profit. However, as the company has not disclosed the pre-revision forecasts, the size of the upward revisions and changes in the assumptions incorporated into the second half require supplementary confirmation at the next results announcement.

For FY2026-Q3, 75% of the full-year figures can be used as a mechanical calendar-based benchmark: ¥6,493 million for revenue, ¥472.5 million for operating profit, ¥406.5 million for ordinary profit and ¥275.3 million for net profit. These are not the company’s quarterly forecasts, but reference levels obtained by allocating 75% of the revised full-year figures to 9 months. If operating profit alone is materially above this level at Q3, the improvement in second-half margins may be continuing. If revenue progress is slow, however, it will be necessary to distinguish whether the lead in profit is attributable to temporary cost factors.

At the next results announcement, it will be important to confirm not only whether the revised forecasts remain unchanged, but also whether profit growth in the precision-molded products and other businesses continued through the first 3 quarters and how much the precision mold business’s revenue and profit declines affect the full-year plan. It will also be important to see whether the company provides additional disclosure on the assumptions underlying its forecasts, second-half foreign exchange rates, raw-material prices, the order environment and expected extraordinary gains or losses.