Ichigo Q1: Green Power Revenue Jumps 18%

Ichigo Inc. reported first-quarter results for fiscal 2027 on July 15, with the green power business driving a sharp revenue gain.

Revenue from the green power segment rose 18% year-over-year, the company said in its earnings presentation. The growth came from higher electricity sales at its solar and biomass plants, which ran at higher utilization rates than the same quarter last year.

The company's overall revenue for the quarter ended May 31 was ¥14.2 billion, up from ¥12.8 billion a year earlier. Operating income came in at ¥4.1 billion, compared with ¥3.6 billion in the prior-year period.

Ichigo's real estate segment posted a more modest gain, with revenue rising 4% to ¥5.8 billion. The company said occupancy rates at its office properties held steady at 94%, while rental income from its logistics facilities ticked up.

Net income attributable to shareholders was ¥2.3 billion, or ¥8.42 per share, versus ¥2.0 billion, or ¥7.31 per share, a year ago.

The company maintained its full-year guidance for operating income of ¥17.0 billion, which would represent a 6% increase from fiscal 2026.