PowerX’s expanding orders for large-scale battery storage equipment and its return to profitability will be key factors shaping its outlook. Orders currently disclosed are concentrated mainly in the next fiscal year, making progress on deliveries and the achievement of profitability in the current fiscal year the main focus.
PowerX focuses on selling large-scale battery storage equipment and manufactures and sells BESS products at its main factory in Okayama. The company listed on the TSE Growth Market in December 2025, and its representative, Ito Masahiro (伊藤 正裕), has experience developing new products. Over the medium to long term, growth will depend on expanding recurring revenue from operations and maintenance services, in addition to equipment sales.
Revenue for the cumulative second quarter of the fiscal year ending December 2026 was ¥6.893 billion, up 48.3% year on year. The company posted an operating loss of ¥1.073 billion and a net loss of ¥1.551 billion, and did not reach profitability. The full-year revenue forecast was raised from ¥38 billion to ¥40 billion, but part of the additional revenue is being allocated to research and development and other expenses, and has not translated into higher profit. The company disclosed confirmed orders of ¥40.397 billion and revenue including recognized sales of ¥41.560 billion, but it also has ¥78.423 billion in unrecognized equipment sales, so attention is required to the definition used in the financial results.
By segment, BESS and Power were profitable, while the EV charging business was loss-making, and company-wide costs in the first half weighed on total profit. The focus will be on whether increased shipments in the second half lead to lower storage costs and an improved fixed-cost ratio. Against the backdrop of support from renewable energy policy and growing demand from AI data centers, the company assumes 2027 revenue of ¥68 billion to ¥72 billion, operating profit of ¥5.5 billion to ¥7 billion, and net profit of ¥5 billion to ¥6 billion.
On 16 October, the company disclosed a new order worth ¥4.854 billion. Revenue recognition is expected to be concentrated in the next fiscal year, while the Nikko and Miyagi-Shiroishi projects are also progressing toward confirmed orders. Going forward, key factors will include progress on deliveries and cash collection, securing orders, and improving profit margins and cash flow. The company plans to assess deliveries and profit improvement in the third-quarter results scheduled for 12 November, while reviewing delivery delays and trends in inventory and accounts receivable as a whole.