Full-year profitability is now in sight after the upward revision, but the standalone Q2 loss means H2 repeatability still needs to be confirmed.

For the FY2026 interim period, consolidated revenue was ¥931.095 million, operating profit was ¥31.956 million, ordinary profit was ¥32.589 million, and interim net income attributable to owners of the parent was ¥34.023 million. The full-year forecast revised in August is revenue of ¥1,817 million, operating profit of ¥47 million, ordinary profit of ¥50 million, and net income of ¥50 million, putting operating profit progress at 67.9%. As this is the first year of consolidation, a formal comparison with the same period of the previous year is not possible. At least against the company's plan, however, profit is ahead of revenue in terms of progress.

The standalone quarterly pattern is not uniformly stable, however. First-quarter revenue was ¥502 million and operating profit was ¥36 million, whereas standalone second-quarter revenue was ¥428 million and the operating result was a ¥5 million loss. In the standalone second quarter, the Marketing DX business secured revenue of ¥385 million and operating profit of ¥128 million, while the Technology business recorded revenue of ¥43 million and an operating loss of ¥78 million. As a result, quarterly group profit is susceptible to the burden of up-front investment in the Technology business.

Looking at the full-year forecast simply as the remaining amount, the company would need to add ¥885.905 million in revenue and ¥15.044 million in operating profit after the interim period to reach the revised plan. Since most of the required operating profit has already been generated by the interim period, FY2026-Q3 should confirm not only whether the plan can be achieved, but also whether the ¥5 million standalone second-quarter loss was temporary and whether the Technology business's investment burden will continue into H2.

The supplementary materials state that interim-period revenue represented 52.8% of the full-year forecast, but using the revised full-year revenue forecast of ¥1,817 million as the denominator gives 51.2% mathematically. Since 52.8% is consistent with using the pre-revision full-year revenue forecast of ¥1,762 million as the denominator, FY2026-Q3 should verify across the materials when the revenue forecast was revised, which denominator was used for the progress rate, and how the H2 plan is defined.