FY March 2026 Q3 Financial Summary [Japanese GAAP] (Consolidated)

Performance Overview

In the cumulative consolidated Q3 period of FY March 2026, net sales surged to JPY 15,929 million (up 673.0% YoY). This was driven by the commencement of service provision in the new AI infrastructure business (September 2025) and steady growth in existing businesses. On the other hand, significant upfront investment for the AI infrastructure business resulted in an operating loss of JPY 332 million (compared to an operating loss of JPY 281 million in the same period last year), and a net loss attributable to owners of parent for the quarter of JPY 566 million (widened from a loss of JPY 403 million last year). Adjusted EBITDA turned positive to JPY 698 million from a loss in the previous year. Domestic operations improved significantly, with net sales of JPY 15,103 million and segment profit of JPY 1,158 million due to the expansion of the AI infrastructure business, while overseas operations also remained solid.

Financial Position and Outlook

Total assets increased significantly to JPY 22,333 million (up 386.1% from the previous fiscal year-end) and net assets rose to JPY 16,316 million (up 579.8% from the previous fiscal year-end). This was mainly due to increased accounts receivable related to the AI data center business and increase in tangible fixed assets such as GPU server purchases. Total liabilities also increased to JPY 6,016 million, but based on evaluation of cash flow plans, sufficient funds are deemed secured through 2026-12-31, and no material uncertainty exists regarding the going concern assumption. There is no revision to the earnings guidance, and growth in the AI infrastructure business along with steady performance of existing businesses is expected to continue.