Can the upside through 3Q translate into a full-year FY2026 result?

Revenue for the nine months of FY2026 was ¥222.824 billion, operating income was ¥7.402 billion, ordinary income was ¥7.602 billion, and net income was ¥5.188 billion. Year on year, revenue rose 6.0%, operating income 34.1%, ordinary income 30.7%, and net income 30.5%, with profit growth outpacing revenue growth. The company has not changed the full-year forecast it revised upward in April, as of 3Q.

The full-year forecast is revenue of ¥294.0 billion, operating income of ¥8.2 billion, ordinary income of ¥8.5 billion, and net income of ¥5.3 billion. Progress after nine months was 75.8% for revenue, 90.3% for operating income, 89.4% for ordinary income, and 97.9% for net income. In particular, only ¥112 million of net income and ¥798 million of operating income remain to reach the full-year forecasts, so the required amount in the final quarter is not high. However, consumer electronics retail is seasonal, and full-year achievement should not be assumed based solely on the progress rate at 3Q.

Revenue of ¥71.176 billion is required in the final quarter, making the first point to check whether the company can maintain year-on-year revenue growth. For operating income, the company needs to add ¥798 million to the nine-month cumulative result of ¥7.402 billion to reach ¥8.2 billion. Compared with the standalone 3Q operating income of ¥3.327 billion, this appears achievable in absolute terms. At the same time, if promotional expenses and personnel costs are concentrated in 4Q, it will be necessary to check whether the operating margin declines substantially from the 4.2% recorded in standalone 3Q.

At the next earnings announcement, the focus will be not only on actual revenue, operating income, ordinary income, and net income, but also on the achievement rates against the full-year forecast revised upward in April, standalone 4Q revenue and operating income, and disclosure of the factors behind any variance from the forecast. The 3Q supplementary materials describe results as exceeding both the previous year and plan, but do not specify progress against the full-year forecast or the revenue and profit levels required for the remaining period. Quantitative verification in the final results will therefore be important.