Can the full-year forecast be achieved in the final 2 months of the 17-month fiscal period?

The fiscal year ending August 2026 is an irregular 17-month fiscal period resulting from a change in the fiscal year-end, so it should be interpreted differently from normal quarterly progress. For the cumulative five quarters through the end of June 2026, operating revenue was ¥49,041 million, operating profit was ¥3,638 million, ordinary profit was ¥3,430 million, and net income attributable to owners of the parent was ¥4,705 million. The full-year forecasts are operating revenue of ¥59,300 million, operating profit of ¥4,200 million, ordinary profit of ¥4,040 million, and net income of ¥4,520 million. Progress was 82.7% for operating revenue and 86.6% for operating profit.

Cumulative results through the fourth quarter ended March 2026 were operating revenue of ¥37,865 million and operating profit of ¥3,124 million. In the fifth quarter, operating revenue increased by ¥11,176 million and operating profit by ¥514 million. The shortfall against the full-year forecasts is ¥10,259 million for operating revenue and ¥562 million for operating profit, requiring an operating margin of approximately 5.5% over July and August. The cumulative five-quarter operating margin is approximately 7.4%, so the target appears achievable on a simple calculation. However, the irregular fiscal period is affected by seasonality, and achievement should not be judged solely on cumulative progress.

Because the year-ago period does not represent a normal 12-month period or the same scope of consolidation, the company has not provided year-on-year changes. Accordingly, what can be confirmed this time is progress in monetary terms against the forecasts. It is not possible to compare whether the underlying existing businesses improved from the previous year or how they performed excluding the consolidation effects of きずなグループ and こころネット. As of the fifth quarter, there has been no revision to the earnings forecasts. The final amount achieved against the forecasts, including the effects after the consolidation of こころネット, will be a key point of assessment at the next results announcement.

At the next results announcement, it will be important to confirm actual results against operating revenue of ¥59,300 million, operating profit of ¥4,200 million, ordinary profit of ¥4,040 million, and net income of ¥4,520 million, as well as whether the July and August results can be broken down between the existing businesses, きずなグループ, and こころネットグループ. Even if the remaining ¥562 million of operating profit is achieved, it will be necessary to distinguish between achievement at the operating profit level and an increase in net income driven solely by extraordinary gains such as gains on negative goodwill.