Key points from ACSL's latest results and market trends. Revenue for the first half of the fiscal year ending December 2026 was approximately ¥1.6 billion, a significant increase, although the operating loss remained. Expansion in North America and the accumulation of government procurement orders are attracting attention.
From early to mid-October, the share price fell from ¥1,287 to ¥1,226. Trading concentrated at one point on 7 October, when volume rose 186% from the previous day to 1,215,100 shares. Short-term indicators deteriorated after the point at which a sell signal from the Parabolic indicator was reported, and the share price fell from the ¥1,300 range to the ¥1,200 range.
According to ACSL's earnings summary, revenue for the first half of the fiscal year ending December 2026 was approximately ¥1.6 billion, up 68.9% year on year, driven by rapid expansion in North America. Meanwhile, the operating loss remained at approximately ¥375 million, and the equity ratio improved to 46.6%.
Performance has been on an improving trend over the past 12 quarters, with signs of recovery including a narrowing net loss margin. Based on the earnings summaries and securities reports, the medium- to long-term performance checkpoints include expanding sales in North America and building up government procurement orders.
Risks to watch going forward include tighter export screening, securing components, financing terms and regulatory compliance. Operational risks associated with expansion in North America and the burden on internal controls have also been highlighted.
Overall, growth in the North American market and progress on government projects are attracting attention as factors that could determine the recovery in performance.