Half-year plan half consumed in Q1; the focus for FY2027-H1 is whether Q2 can replicate the performance

In the first quarter of the fiscal year ending March 2027, revenue was ¥3.455 billion, up 19.9% year on year, and operating profit was ¥772 million, up 17.1%. Ordinary profit was also ¥772 million, while quarterly net income attributable to owners of the parent was ¥457 million, with all major profit measures remaining positive. On a Q1-only basis, the company achieved double-digit year-on-year growth in both revenue and profit, and its start against the full-year plan has not materially deteriorated.

Revenue progress against the full-year plan of ¥14.200 billion was 24.3%, while operating profit progress against the ¥3.000 billion plan was 25.8%. The remaining 3 quarters therefore need to generate ¥10.745 billion in revenue and ¥2.228 billion in operating profit, making it necessary at the next Q2 results announcement to determine whether cumulative results including Q1 are above or below a simple quarterly allocation.

The earnings presentation shows Q1 progress against the H1 plan of 50.5% for revenue and 54.8% for operating profit. Mechanically back-calculating from these ratios gives an H1 plan of approximately ¥6.842 billion in revenue and ¥1.409 billion in operating profit, implying Q2 alone of approximately ¥3.387 billion in revenue and ¥637 million in operating profit as reference points. These are back-calculated figures based on the disclosed progress rates, not separate Q2 forecasts provided by the company.

As of Q1, the company had not changed its full-year forecasts of ¥14.200 billion in revenue, ¥3.000 billion in operating profit, ¥3.020 billion in ordinary profit and ¥1.840 billion in net income. The next review should confirm whether cumulative progress against the H1 plan remains in the low 50% range for both revenue and operating profit, whether the contribution from the guarantee business and Carol System, which supported Q1, continues in Q2, and whether maintaining the full-year forecasts remains appropriate.