QPS Holdings (464A), a Tokyo Stock Exchange Growth-listed earth observation satellite data company, on Oct. 14 raised its operating profit forecast for the year ending May 31, 2027, to ¥2.0 billion from ¥300 million, a 566.7% increase, and lifted its net profit forecast to ¥2.7 billion from ¥1.9 billion.
The company said a review found that about ¥1.2 billion in subsidized research and development costs, which it had planned to book under selling, general and administrative expenses, will not be recorded in the current fiscal year. Together with lower-than-planned satellite depreciation and other cost reductions, operating profit is now expected to come in ¥1.7 billion above the previous forecast.
About ¥500 million in R&D subsidy income that had been slated for non-operating income this year is now expected to be booked in the following fiscal year or later. As a result, recurring profit is forecast at ¥3.2 billion, up from ¥2.0 billion. The revenue forecast was unchanged at ¥10.0 billion.
| Item | Previous | Revised | Change |
|---|---|---|---|
| Revenue | ¥10.0 billion | ¥10.0 billion | - |
| Operating profit | ¥300 million | ¥2.0 billion | +566.7% |
| Recurring profit | ¥2.0 billion | ¥3.2 billion | +60.0% |
| Net profit | ¥1.9 billion | ¥2.7 billion | +42.1% |
| EPS | ¥34.01 | ¥48.29 | - |
For the first quarter ended Aug. 31, the company reported revenue of ¥1,895 million, operating profit of ¥594 million and net profit of ¥480 million, or ¥8.59 per share. QPS Holdings was established on Dec. 1, 2025, through a sole-share transfer as the parent of QPS Kenkyujo, so no year-earlier comparisons are available. During the quarter it launched two small SAR satellites, QPS-SAR No. 13 on Aug. 6 and No. 18 on Aug. 20.
The equity ratio stood at 75.4% at the end of August. The company disclosed that events or conditions exist that may cast significant doubt on its ability to continue as a going concern, citing heavy upfront investment in satellite manufacturing and launches and the time needed to recover it. Its full-year dividend forecast remains zero.
| Hikari Tsushin, Inc. | |
| Offer price | ¥1,000 per common share |
| M&A / TOB | 1 |
| Guidance | 0 |
| Buybacks | 0 |
| Dividends | 0 |
| Capital | 0 |
| Earnings | 0 |
| People | 0 |
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