Ordinary profit at 20.1% of the full-year forecast, net income at 22.0%

In FY2027 Q1, consolidated ordinary income was ¥34,031 million, ordinary profit was ¥6,542 million, and net income attributable to owners of the parent was ¥4,850 million. Compared with ordinary income of ¥27,941 million, ordinary profit of ¥5,643 million, and net income of ¥3,767 million in the same quarter of the previous year, ordinary income increased by ¥6,090 million, ordinary profit by ¥899 million, and net income by ¥1,083 million. In percentage terms, ordinary income increased by approximately 21.8%, ordinary profit by 15.9%, and net income by 28.7%.

The full-year forecasts are ¥32,500 million for ordinary profit and ¥22,000 million for net income, putting progress after Q1 at 20.1% and 22.0%, respectively. Against a benchmark of 25%, assuming an even quarterly allocation, ordinary profit is slightly below that level while net income is close to it. However, the company has not provided a quarterly profit allocation, so these progress rates alone are insufficient to assess the risk of falling short of or exceeding the full-year plan.

FY2026 full-year ordinary profit was ¥24,820 million and net income was ¥17,062 million. The FY2027 full-year forecasts imply year-on-year growth of 30.9% in ordinary profit and 28.9% in net income. Since Q1 profit growth was below these full-year growth rates, FY2027 H1 will need to confirm whether Q1 profit growth is continuing and whether the amount of profit required in the second half is excessive.

The Q1 actual ordinary income of ¥34,031 million has been disclosed, but no full-year ordinary income forecast has been provided. In addition, neither actual nor forecast operating profit, which corresponds to operating profit for a general operating company, has been disclosed, preventing verification of full-year progress in revenue or the operating margin. In FY2027 H1, it will be important to check the full-year outlook for ordinary income, cumulative progress in ordinary profit, and whether the full-year forecasts have been revised.