First-quarter strength is broadly in line with the full-year plan, but profit progress needs to be confirmed in the first half.

The first quarter from April to June 2026 generated revenue of ¥15,199 million, operating profit of ¥981 million, ordinary profit of ¥1,086 million and quarterly net profit attributable to owners of the parent of ¥628 million. Compared with revenue of ¥12,956 million and operating profit of ¥810 million in the same period of the previous year, revenue increased 17.3% and operating profit increased 21.1%. Operating margin was 6.46%, an improvement of approximately 0.20 percentage points from approximately 6.25% in the same period of the previous year.

Progress against the full-year forecast was 25.8% for revenue, calculated as ¥15,199 million ÷ ¥59,000 million, and 23.9% for operating profit, calculated as ¥981 million ÷ ¥4,100 million. Compared with the simple 25.0% time-based progress after three months, revenue was 0.8 percentage points ahead, while operating profit was 1.1 percentage points behind. Progress was approximately 25.6% for ordinary profit and approximately 23.2% for net profit. Across the profit measures, this was reasonably a start broadly in line with the full-year plan rather than a substantial beat.

To achieve the full-year plan after the end of the first quarter, the company needs to generate an additional ¥43,801 million in revenue and ¥3,119 million in operating profit over the remaining three quarters. Results for the fiscal year ended March 2026 were revenue of ¥57,972 million and operating profit of ¥4,044 million, while the FY2027 full-year forecasts are ¥59,000 million and ¥4,100 million, representing growth of only 1.8% and 1.4%, respectively. Accordingly, the first quarter's 17.3% year-on-year revenue growth does not itself indicate the full-year growth rate, and the first half will need to establish whether it reflects a one-off contribution from projects or an expansion in underlying demand.

The information provided does not separately state the company's forecast for cumulative second-quarter results. Revenue of ¥29,500 million and operating profit of ¥2,050 million are merely benchmarks obtained by halving the full-year forecasts. Since these are not formal thresholds adjusted for seasonality, FY2027-H1 should be assessed using cumulative results together with whether the full-year forecasts remain unchanged or are revised, operating margin, and progress in ordinary profit and net profit.