FY2027 1Q is tracking in line with the full-year plan, but profit progress needs to be reconfirmed at H1.

For the first quarter from 1 April to 30 June 2026, consolidated revenue was ¥7,375 million, operating profit was ¥156 million, ordinary profit was ¥189 million and profit attributable to owners of the parent was ¥128 million. Year on year, revenue increased 7.6%, operating profit increased 21.0% and ordinary profit increased 15.4%, indicating solid progress through the operating-profit level. The full-year forecasts are revenue of ¥28,000 million and operating profit of ¥528 million, and no revisions were made to the earnings forecasts as of Q1.

Progress against the full-year forecasts was 26.3% for revenue, 29.5% for operating profit, 31.1% for ordinary profit and 32.7% for net profit. Compared with the 25.0% of the year elapsed in Q1, revenue was 1.3 percentage points ahead and operating profit was 4.5 percentage points ahead. However, the high net-profit progress rate may be distorted in future comparisons because the company recorded a gain on the sale of investment securities in the year-earlier period. Progress should therefore be assessed primarily using operating profit and ordinary profit.

Simply subtracting the Q1 results from the full-year forecasts leaves ¥20,625 million of revenue, ¥372 million of operating profit, ¥419 million of ordinary profit and ¥263 million of net profit required for the remainder of the year. For FY2027 H1, ¥14,000 million of revenue and ¥264 million of operating profit should be used as simple half-year benchmarks based on an even allocation of the full-year plan. If actual results fall below these levels, it will be necessary to determine whether this reflects seasonality or a plan weighted toward the second half. These are mechanical benchmarks for measuring progress, not half-year forecasts provided by the company.

Based on the latest published information, the next results announcement is scheduled for 11 November 2026. The next review should cover not only cumulative FY2027 H1 revenue and operating profit, but also whether the full-year forecasts of ¥28,000 million and ¥528 million have been maintained or revised, and whether the Q1 increases in revenue and profit continued into Q2.