Can the record pace set in H1 be maintained in Q3?

FY2026-H1 revenue was ¥27.31 billion, up 43.6% year on year, while operating profit was ¥7.21 billion, up 93.8%. Ordinary profit was ¥7.18 billion and interim net income attributable to owners of the parent was ¥2.72 billion, up 108.1% and 110.3%, respectively. Revenue growth was driven primarily by continued expansion in demand for data-center processors and contributions from EV products. Based on the H1 figures alone, the ramp-up in demand appears to be providing substantial support for the company’s plan.

Q2 standalone revenue was ¥14.59 billion, operating profit was ¥4.00 billion, ordinary profit was ¥3.92 billion and net income was ¥1.56 billion. Revenue increased 14.7% from ¥12.72 billion in Q1, absorbing higher depreciation, personnel and utility costs associated with advanced capital investment through revenue growth. In the next results announcement, it will be necessary to determine from Q3 standalone revenue and operating profit whether the start of mass production by new customers confirmed in Q2 was a temporary ramp-up or continued to be reflected in Q3 production volumes and utilization rates.

The full-year forecasts are revenue of ¥59.10 billion, operating profit of ¥16.30 billion, ordinary profit of ¥16.10 billion and net income of ¥6.00 billion. A simple calculation of the shortfall from H1 results indicates that H2 will require revenue of ¥31.79 billion, operating profit of ¥9.09 billion, ordinary profit of ¥8.92 billion and net income of ¥3.28 billion. The company has not disclosed its progress rates against the full-year forecasts, so in Q3 it will be necessary to assess not only cumulative results but also the demand outlook for the remaining Q4, data-center processor volumes, the contribution from new customers entering mass production and the sustainability of EV product demand.