Q1 profit ahead of sales; assess progress toward the FY2027 full-year forecast in H1

In Q1 from April to June 2026, revenue was ¥5,818 million, up 10.6% year on year, operating profit was ¥263 million, up 170.5%, ordinary profit was ¥311 million, up 166.8%, and net profit attributable to owners of the parent was ¥175 million, up 186.0%. Progress against the full-year forecasts was 25.3% for revenue, 37.6% for operating profit, 40.9% for ordinary profit and 35.7% for net profit, with profit progressing ahead of sales.

Using 50% of the full-year forecasts as a simple benchmark for the first half, the comparison figures are revenue of ¥11,500 million, operating profit of ¥350 million, ordinary profit of ¥380 million and net profit of ¥245 million. At the end of Q1, the amounts still required to achieve the full-year forecasts were ¥17,182 million in revenue and ¥437 million in operating profit. However, seasonality and quarterly fluctuations in orders and sales have not been disclosed, so 50% should not be treated as a mechanical achievement threshold. Progress should be assessed together with year-on-year growth and the maintenance of profit margins.

At the time of the financial results for the fiscal year ended March 2026, the FY2027 earnings outlook had not been determined because of the impact of raw-material prices and the situation in the Middle East. In the Q1 results, the company announced full-year forecasts for the first time, including revenue of ¥23,000 million and operating profit of ¥700 million. Next time, we will assess not only progress in revenue and operating profit, but also whether the company maintains the forecasts through ordinary profit of ¥760 million and net profit of ¥490 million, or revises them because of changes in raw-material and logistics costs or demand.