Can the shortfall in revenue be made up in the fourth quarter to achieve the full-year plan?

For the first 3 quarters of FY2026, revenue was ¥6,896.490 million, operating profit was ¥467.957 million, ordinary profit was ¥465.718 million, and net income was ¥306.579 million. The full-year forecasts are revenue of ¥9,867 million, operating profit of ¥620 million, ordinary profit of ¥617 million, and net income of ¥373 million, representing progress rates of 69.9%, 75.4%, 75.5%, and 82.1%, respectively. Only revenue was approximately 5 percentage points below the 75% benchmark implied by the elapsed period, highlighting the top-line delay relative to profit progress.

A simple back-calculation from the forecasts indicates that the fourth quarter needs to generate approximately ¥2,970.5 million in revenue, ¥152.0 million in operating profit, ¥151.3 million in ordinary profit, and ¥66.4 million in net income. Rounded to the displayed unit of millions of yen, the minimum targets are approximately ¥2,971 million in revenue, ¥152 million in operating profit, and ¥66 million in net income. Standalone third-quarter revenue was ¥2,321 million, so achieving the full-year plan requires exceeding that figure by approximately ¥650 million, or approximately 28%.

In the same period of the previous year, FY2025, standalone fourth-quarter revenue was approximately ¥2,296 million, calculated from full-year revenue of ¥9,213 million and revenue of ¥6,917 million for the first 3 quarters. Operating profit was approximately ¥113 million in the fourth quarter, calculated from full-year operating profit of ¥563 million and ¥450 million for the first 3 quarters. Accordingly, the amount required this fiscal year is approximately ¥675 million higher in revenue and ¥39 million higher in operating profit than the previous year's fourth-quarter results. It cannot be said that these targets will be achieved naturally based solely on historical seasonality.

The company has indicated that it will prioritize highly profitable orders despite a decline in sales to major customers. Accordingly, in the next earnings release, it will be necessary to assess not simply whether the revenue shortfall reflects insufficient volume, but whether revenue could be expanded while maintaining a gross profit margin of around 23.5%. The latest news lists 14 October 2026 as the scheduled earnings announcement date. In addition to the full-year results, it will be important to confirm whether the revenue and profit plans for the next fiscal year remain unchanged.