Worth reading
69In focus
0–100. This measures how worthwhile something is to read, not how good or bad the company is.Direction
Mixed performance
Direction inferred from the company’s description.Scale
194.1
Year-on-year revenue growth (%)Wording
Conditional
How definitive the wording is.Contents of this document
Results presentationSecond quarter of the fiscal year ending March 202710 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥1,670 million+194.1%
Operating profit¥174 million+144.0%
Ordinary income¥149 million+127.3%
Net income¥123 million+95.1%
Results for the three months of the current quarterOperating income of ¥101 million, up from ¥73 million in the first quarter. Other standalone three-month P&L items: Not disclosed
Full-year earnings forecast
Net Sales
¥3,965 million
Adjusted operating profit (EBITDA)
¥721 million
Operating profit
¥472 million
Ordinary income
¥447 million
Net income for the current fiscal year
¥446 million
Progress against full-year forecast 通期の予想に対して、いまどこまで進んだかの割合です。
Net Sales42.1%
Adjusted operating profit (EBITDA)44.4%
Operating profit36.8%
Ordinary income33.3%
Interim net income27.7%
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
Progressing steadily. Underlying progress against the plan for operating income, excluding one-time expenses, was approximately 44%Key points of the Q&AKey questions raised by investors at the briefing and the company's answers
Acquisition criteria and goodwill impairment risk, funding for acquisitions and dilution, outlook for the SaaS business, improving share liquidity, dividend policy, share buybacks and cancellations, and the policy on transitioning to IFRSBreakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
M&A-related acquisition costsApproximately ¥32 million (one-time expense)
Equity-method investment losses¥18 million
Interest expenses¥16 million
Tax Expense¥26 million
New initiatives
- Launch of the Second Medium-Term Management Plan, “Project Phoenix II”
- Promotion of AI-driven management
- Continuation of DX roll-up M&A
- Acquisition of the customer staffing business
- Making ICS株式会社 a wholly owned subsidiary
- Use of AI in M&A and business processes
- Regular online shareholder briefings and IR meetings
Key KPIsA metric the company considers important as a management benchmark.
- Adjusted operating profit (EBITDA)¥320 millionYear on year against the same period last year+156.5%
- EPS¥5.88
- ROE17.7 %
- Number of M&A transactions completed3 projects
- Interest-Bearing Debt¥1,858 millionYear on year against the same period last year+¥521 million versus the end of the previous fiscal year
- Equity ratio38.4 %
- D/E ratio1.27 Times
Medium-term management plan targets
Target fiscal yearFiscal year ending March 2029
Market capitalization¥30 billion
Net Sales¥10 billion
Adjusted operating profit (EBITDA)¥2 billion
Financial targets
Debt-to-equity ratioWithin 1.0–1.5x (management target)
Equity ratioTargeting and maintaining 40%
Market Size / Share
The shortage of engineers is expected to expand to approximately 790,000 by 2030. There are several thousand IT companies nationwide with revenue of ¥1 billion to ¥3 billion and positive EBITDA but no successorNumber of employees
Number of Employees280 consolidated, 123 non-consolidated (as of 31 March 2026)
Changes and hiring plans during the periodAdded 192 employees through the customer staffing business. Upfront investment in future recruitment and related initiatives is planned
Acquisition of treasury shares
To be considered as necessary. Specific acquisition limit, number of shares and period: Not disclosed| Item | Details |
|---|---|
| Document type | Results presentation |
| Fiscal Period Covered | Second quarter of the fiscal year ending March 2027 |
| Net Sales | ¥1,670 million (YoY +194.1%) |
| Operating profit | ¥174 million (YoY +144.0%) |
| Ordinary income | ¥149 million (YoY +127.3%) |
| Net income | ¥123 million (YoY +95.1%) |
| Results for the three months of the current quarter | Operating income of ¥101 million, up from ¥73 million in the first quarter. Other standalone three-month P&L items: Not disclosed |
| Full-year earnings forecast | Net Sales ¥3,965 million / Adjusted operating profit (EBITDA) ¥721 million / Operating profit ¥472 million / Ordinary income ¥447 million / Net income for the current fiscal year ¥446 million |
| Progress against full-year forecast | Net Sales 42.1% / Adjusted operating profit (EBITDA) 44.4% / Operating profit 36.8% / Ordinary income 33.3% / Interim net income 27.7% |
| Self-assessment against the plan | Progressing steadily. Underlying progress against the plan for operating income, excluding one-time expenses, was approximately 44% |
| Breakdown of Factors Affecting the Change | M&A-related acquisition costs Approximately ¥32 million (one-time expense) / Equity-method investment losses ¥18 million / Interest expenses ¥16 million / Tax Expense ¥26 million |
| Key KPIs | Indicator name Adjusted operating profit (EBITDA) / Value ¥320 million / Year on year against the same period last year ¥156.5 million, Indicator name EPS / Value ¥5.88 / Year on year against the same period last year Not disclosed, Indicator name ROE / Value 17.7 % / Year on year against the same period last year Not disclosed, Indicator name Number of M&A transactions completed / Value 3 projects / Year on year against the same period last year Not disclosed, Indicator name Interest-Bearing Debt / Value ¥1,858 million / Year on year against the same period last year +¥521 million versus the end of the previous fiscal year, Indicator name Equity ratio / Value 38.4 % / Year on year against the same period last year Not disclosed, Indicator name D/E ratio / Value 1.27 Times / Year on year against the same period last year Not disclosed |
| Number of employees | Number of Employees 280 consolidated, 123 non-consolidated (as of 31 March 2026) / Changes and hiring plans during the period Added 192 employees through the customer staffing business. Upfront investment in future recruitment and related initiatives is planned |
| Medium-term management plan targets | Target fiscal year Fiscal year ending March 2029 / Market capitalization ¥30 billion / Net Sales ¥10 billion / Adjusted operating profit (EBITDA) ¥2 billion |
| Financial targets | Debt-to-equity ratio Within 1.0–1.5x (management target) / Equity ratio Targeting and maintaining 40% |
| Acquisition of treasury shares | To be considered as necessary. Specific acquisition limit, number of shares and period: Not disclosed |
| Market Size / Share | The shortage of engineers is expected to expand to approximately 790,000 by 2030. There are several thousand IT companies nationwide with revenue of ¥1 billion to ¥3 billion and positive EBITDA but no successor |
| Key points of the Q&A | Acquisition criteria and goodwill impairment risk, funding for acquisitions and dilution, outlook for the SaaS business, improving share liquidity, dividend policy, share buybacks and cancellations, and the policy on transitioning to IFRS |
| New initiatives | Launch of the Second Medium-Term Management Plan, “Project Phoenix II”, Promotion of AI-driven management, Continuation of DX roll-up M&A, Acquisition of the customer staffing business, Making ICS株式会社 a wholly owned subsidiary, Use of AI in M&A and business processes, Regular online shareholder briefings and IR meetings |
Items this document does not state (12)
Gross Profit MarginOperating profit marginSelling, general and administrative expensesSegment resultsUnit price and quantity metricsNumber of stores and locationsAssumptions Underlying the Business OutlookRisk amount incorporated into the outlookAnnual DividendPayout ratioCapital expendituresOrders received and order backlog
These are items the company does not state in this document. We do not leave them blank, nor fill them in from other sources or by inference.
The reasons the company gives
The company's own explanation, not something inferred from the numbers.The increases in revenue and profit were attributable to a five-month contribution from Sales Performer, increased DX revenue following the consolidation of YNP, and business expansion through M&A. The decline in interim net income was due to the impact of an equity-method investment loss of ¥18 million, interest expenses of ¥16 million and income tax expenses of ¥26 million, including the reversal of deferred tax assets.
How to read this page
This is not the documentKomori reads the disclosure the company filed and writes this summary. Figures are as stated by the company and are not audited.
Weight is not a verdictIt measures how much this changes what the company had already told the market. It is not a view on the shares.
Corrections happenIf the company reissues this disclosure, the page is rebuilt from the corrected version and the revision number moves up.