FY2027 fiscal-year forecast is heavily back-end loaded, making FY2027-H1 the point at which its achievability will be tested

The first quarter from April to June 2026 generated revenue of ¥616.272 million, operating profit of ¥8.190 million, ordinary profit of ¥19.065 million, and quarterly net income attributable to owners of the parent of ¥4.394 million. Against the full-year forecasts of ¥4,600 million in revenue, ¥705 million in operating profit, and ¥482 million in net income, progress was only 13.4% for revenue, 1.2% for operating profit, and 0.9% for net income. On a simple comparison with 25% of the fiscal year elapsed, the ramp-up in profit is particularly delayed.

The company explains that it treated the first half as a period of upfront investment in developing and launching its in-house AI services, with a concentrated allocation of development and sales personnel. As a result, the decline in its traditional core services could not be offset by growth in AI-related services. Results are expected to emerge from the second half onward, and the revenue plan is also weighted toward the second half. Accordingly, it is too early to conclude from the first quarter's low progress alone that the full-year plan will be missed, but it is clear that the company needs to generate ¥3,983.728 million in revenue and ¥696.810 million in operating profit in the second half.

For the next update, FY2027-H1, it will be necessary to assess not only the extent of improvement in the second quarter alone, but also whether revenue or profit recovers first. In the first quarter, revenue fell 24.4% year on year, operating profit fell 74.3%, and net income fell 80.8%. Whether the decline in revenue narrows on a first-half cumulative basis and the operating margin rises clearly from approximately 1.3% in the first quarter will determine whether the sharp second-half recovery can be accepted.

At present, the company has not disclosed quarterly revenue or profit plans, order intake, order backlog, or order values by AI service. Even if it maintains the full-year forecast, we will track whether it provides additional explanations, supported by amounts or project counts, regarding the expected FY2027-H1 outcome, the probability of the projects planned for the second half, and what will offset the decline in existing services.