Worth reading
53Recurring
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
6
Hundreds of millions of yenWording
Avoiding a definitive answer
How definitive the wording is.Contents of this document
Summary of Q&AFull year of the fiscal year ending January 202612 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Gross Profit MarginDown 11% year on year in the inspection business, although the decline is an apparent one caused by the transfer of expenses from SG&A to cost of sales
Full-year earnings forecastThe figures from revenue through net income for the fiscal year ending January 2027 are stated to be shown on the slides, but are not disclosed in the text
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
Compared with the earnings forecast announced on 15 December 2025, revenue and operating income exceeded the forecast, while net income attributable to owners of the parent was generally within the forecast range. Compared with the initial forecast, however, actual results were lowerKey points of the Q&AKey questions raised by investors at the briefing and the company's answers
The company addressed geopolitical risks and growth potential in Saudi Arabia, prospects following the fire in Indonesia, the decline in domestic UTM subsidies, new businesses, investment in human resources, surveillance projects and low-priced products for domestic surveying. Specific details of the surveillance projects were not disclosed due to confidentiality obligationsBreakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
¥341 million in extraordinary losses related to the fire, compared with the initial forecast of ¥700 million. The year-on-year change in operating income for the fiscal year ending January 2027 includes approximately ¥600 million in upfront investment for non-linear growth
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
Revenue in Indonesia is expected to decline. Growth is expected in TerraXross1, the Saudi Arabian business and Unifly. Q1 revenue is expected to account for a relatively small proportion of the full-year forecastNew initiatives
Investment in TerraXross1's mass-production capabilities, distributor network, sales and marketing; expansion of infrastructure inspection projects in Saudi Arabia; strengthening of Unifly's development capabilities and specialized workforce; entry into new business areas; investment in human capital; reinforcement of low-priced products for domestic surveying; and consideration of entering new survey areas for disaster recoveryKey KPIsA metric the company considers important as a management benchmark.
Overseas revenue ratio: recently above 60%. The company described itself as the world's No. 1 drone services company and the global leader in the number of countries that have introduced UTMUnit price and quantity metricsThese figures show sales broken down by price and volume.
TerraXross1 product price: one-third that of competing products. Total cost of ownership, including cloud usage and maintenance fees: one-quarter to one-fifth that of competitorsSegment results
Drone Solutions: Revenue increased on growth in inspection and agriculture and the contribution from the Indonesian base. Traffic Management: Revenue was flat year on year, while the operating loss widened due to the weaker yen against the euro and costs related to the acquisition of AloftRisk amount incorporated into the outlookThe amount representing the range of variation the company expects in its forecast.
Not disclosed. Further progress with TerraXross1, whose outlook is highly uncertain, and the development of new businesses have not been incorporated into the earnings forecastMarket Size / Share
The market accessible to TerraXross1 is at least several billion yen in size. The company described itself as the world's No. 1 drone services company and the global leader in the number of countries that have introduced UTMOrders received and order backlog
Specific figures were not disclosed. The company said that large orders and inquiries are accumulating in Saudi ArabiaNumber of employees
Not disclosed. The company plans to strengthen the recruitment of specialized personnel and engineers| Item | Details |
|---|---|
| Document type | Summary of Q&A |
| Fiscal Period Covered | Full year of the fiscal year ending January 2026 |
| Gross Profit Margin | Down 11% year on year in the inspection business, although the decline is an apparent one caused by the transfer of expenses from SG&A to cost of sales |
| Full-year earnings forecast | The figures from revenue through net income for the fiscal year ending January 2027 are stated to be shown on the slides, but are not disclosed in the text |
| Self-assessment against the plan | Compared with the earnings forecast announced on 15 December 2025, revenue and operating income exceeded the forecast, while net income attributable to owners of the parent was generally within the forecast range. Compared with the initial forecast, however, actual results were lower |
| Segment results | Drone Solutions: Revenue increased on growth in inspection and agriculture and the contribution from the Indonesian base. Traffic Management: Revenue was flat year on year, while the operating loss widened due to the weaker yen against the euro and costs related to the acquisition of Aloft |
| Breakdown of Factors Affecting the Change | ¥341 million in extraordinary losses related to the fire, compared with the initial forecast of ¥700 million. The year-on-year change in operating income for the fiscal year ending January 2027 includes approximately ¥600 million in upfront investment for non-linear growth |
| Key KPIs | Overseas revenue ratio: recently above 60%. The company described itself as the world's No. 1 drone services company and the global leader in the number of countries that have introduced UTM |
| Unit price and quantity metrics | TerraXross1 product price: one-third that of competing products. Total cost of ownership, including cloud usage and maintenance fees: one-quarter to one-fifth that of competitors |
| Number of employees | Not disclosed. The company plans to strengthen the recruitment of specialized personnel and engineers |
| Assumptions Underlying the Business Outlook | Revenue in Indonesia is expected to decline. Growth is expected in TerraXross1, the Saudi Arabian business and Unifly. Q1 revenue is expected to account for a relatively small proportion of the full-year forecast |
| Risk amount incorporated into the outlook | Not disclosed. Further progress with TerraXross1, whose outlook is highly uncertain, and the development of new businesses have not been incorporated into the earnings forecast |
| Orders received and order backlog | Specific figures were not disclosed. The company said that large orders and inquiries are accumulating in Saudi Arabia |
| Market Size / Share | The market accessible to TerraXross1 is at least several billion yen in size. The company described itself as the world's No. 1 drone services company and the global leader in the number of countries that have introduced UTM |
| Key points of the Q&A | The company addressed geopolitical risks and growth potential in Saudi Arabia, prospects following the fire in Indonesia, the decline in domestic UTM subsidies, new businesses, investment in human resources, surveillance projects and low-priced products for domestic surveying. Specific details of the surveillance projects were not disclosed due to confidentiality obligations |
| New initiatives | Investment in TerraXross1's mass-production capabilities, distributor network, sales and marketing; expansion of infrastructure inspection projects in Saudi Arabia; strengthening of Unifly's development capabilities and specialized workforce; entry into new business areas; investment in human capital; reinforcement of low-priced products for domestic surveying; and consideration of entering new survey areas for disaster recovery |
Items this document does not state (15)
Net SalesOperating profitOrdinary incomeNet incomeOperating profit marginSelling, general and administrative expensesResults for the three months of the current quarterProgress against full-year forecastNumber of stores and locationsMedium-term management plan targetsFinancial targetsAnnual DividendPayout ratioAcquisition of treasury sharesCapital expenditures
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 forecast beat for the fiscal year ended January 2026 was mainly due to revenue from the Indonesian base significantly exceeding expectations. Factors cited for missing the initial forecast and the widening losses included a fire at the Indonesian subsidiary, costs related to the acquisition of Aloft, impairment losses, a decline in domestic ICT projects, reduced subsidies, lower revenue at Unifly, and the weaker yen against the euro. For the fiscal year ending January 2027, the company will make upfront investments, including entry into new business areas and hiring, to achieve non-linear growth.
How to read this page
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