Profit leads in FY2027-Q1; confirm whether half of the full-year forecast is reached in FY2027-H1

Consolidated revenue in FY2027-Q1 was ¥2,943.8 million, operating profit was ¥144.7 million, ordinary profit was ¥157.6 million, and net profit attributable to owners of the parent was ¥105.6 million. Year on year, these figures increased 15.3%, 48.7%, 40.5%, and 37.0%, respectively, with operating profit expanding faster than revenue.

The full-year forecasts are revenue of ¥11.87 billion, operating profit of ¥485 million, ordinary profit of ¥517 million, and net profit attributable to owners of the parent of ¥346 million. Progress as of Q1 was 24.8% for revenue, 29.8% for operating profit, 30.5% for ordinary profit, and 30.5% for net profit. Revenue was close to the simple quarterly benchmark of 25%, while the profit items were ahead. However, in trading and equipment projects, the timing of revenue and profit recognition may not coincide, so it will be necessary to distinguish whether Q1’s profit lead reflects a sustained improvement in full-year profitability or the timing of project recognition.

The benchmarks for reaching half of the full-year forecast in FY2027-H1 are revenue of ¥5.935 billion, operating profit of ¥242.5 million, ordinary profit of ¥258.5 million, and net profit of ¥173 million. At the next results announcement, it will be necessary to assess whether the increases in AI and semiconductor-related demand, factory automation equipment, industrial PCs, air-conditioning equipment, and information and telecommunications products reported in Q1 continued into Q2. The Q1 report states that revisions to the full-year earnings forecast and annual dividend forecast were made, but does not disclose the pre-revision forecast figures or the extent of the revisions, so the sustainability of the outlook will need to be assessed as of H1.