Worth reading
51Recurring
0–100. This measures how worthwhile something is to read, not how good or bad the company is.Direction
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Direction inferred from the company’s description.Scale
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Displayed only when the document provides numerical figures.Wording
Avoiding a definitive answer
How definitive the wording is.Contents of this document
Summary of Q&AFiscal year ending May 202611 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Results for the three months of the current quarterThe company explained that operating profit for the fourth quarter alone was below the year-earlier level; the figure is Not disclosed
Full-year earnings forecast
Net Sales
¥11,100 million
Operating profit
¥1,450 million
Annual Dividend
¥65 per share
What the company explained in this material
Key points of the Q&AKey questions raised by investors at the briefing and the company's answers
The drivers of the record-high results for the fiscal year ended May 2026, reasons for the decline in fourth-quarter standalone profit, the outlook for higher revenue and profits in the fiscal year ending May 2027, growth in the IT subscription and ITAD businesses, demand related to GIGA School and AI infrastructure, the Sagamihara Technical Center, M&A and alliances, the medium- to long-term strategy, investment in human capital, and shareholder returnsBreakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
The reversal of one-off revenue, upfront depreciation expense, special bonuses, recurring revenue from long-term subscriptions, higher sales prices, and growth in service revenue
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
Normalization of demand for Windows OS upgrades, a concentration of earnings in the fourth quarter, and operations based on a target asset utilization rate of 80% or higherNew initiatives
- Expansion of support services into IT operations management, networking, security and servers
- Expansion of the ITAD business to servers, storage, networking equipment and other products
- Opening of the Sagamihara Technical Center
- Handling collection and data erasure projects for GIGA School devices
- Continued consideration of M&A and alliances
Key KPIsA metric the company considers important as a management benchmark.
- Subscription asset utilization rate81.6 %
- Acquisition cost of subscription assets¥19,278 million
- Customer Base15,000 companies
- ITAD units received vs. fiscal year ended May 20200.6 times
- ITAD sales price per unit vs. fiscal year ended May 20201.9 times
- ITAD segment profit vs. fiscal year ended May 20202.6 times
Unit price and quantity metricsThese figures show sales broken down by price and volume.
- ITAD units received vs. fiscal year ended May 20200.6 times
- ITAD sales price per unit vs. fiscal year ended May 20201.9 times
Segment results
ITAD Business
Segment profit
¥1,362 million
ComparisonFiscal year ended May 2020
Medium-term management plan targets
The company has not disclosed a medium-term management plan, and numerical targets are Not disclosedNumber of stores and locations
The Sagamihara Technical Center opened in June 2026 after relocating operations from the former Tokyo-Heiwajima location. The total number of locations at the fiscal year-end and the number of openings and closures are Not disclosedAnnual Dividend
Fiscal year ending May 2026
¥52 per share
Forecast for the fiscal year ending May 2027
Regular dividend
¥57 per share
Commemorative dividend
¥8 per share
Annual Dividend
¥65 per share
Payout ratio
30 % or higher
DOE
5 % or higher
| Item | Details |
|---|---|
| Document type | Summary of Q&A |
| Fiscal Period Covered | Fiscal year ending May 2026 |
| Results for the three months of the current quarter | The company explained that operating profit for the fourth quarter alone was below the year-earlier level; the figure is Not disclosed |
| Full-year earnings forecast | Net Sales ¥11,100 million / Operating profit ¥1,450 million / Annual Dividend ¥65 per share |
| Segment results | ITAD Business Segment profit ¥1,362 million / Comparison Fiscal year ended May 2020 |
| Breakdown of Factors Affecting the Change | The reversal of one-off revenue, upfront depreciation expense, special bonuses, recurring revenue from long-term subscriptions, higher sales prices, and growth in service revenue |
| Key KPIs | Subscription asset utilization rate 81.6 %, Acquisition cost of subscription assets ¥19,278 million, Customer Base 15,000 companies, ITAD units received vs. fiscal year ended May 2020 0.6 times, ITAD sales price per unit vs. fiscal year ended May 2020 1.9 times, ITAD segment profit vs. fiscal year ended May 2020 2.6 times |
| Unit price and quantity metrics | ITAD units received vs. fiscal year ended May 2020 0.6 times, ITAD sales price per unit vs. fiscal year ended May 2020 1.9 times |
| Number of stores and locations | The Sagamihara Technical Center opened in June 2026 after relocating operations from the former Tokyo-Heiwajima location. The total number of locations at the fiscal year-end and the number of openings and closures are Not disclosed |
| Assumptions Underlying the Business Outlook | Normalization of demand for Windows OS upgrades, a concentration of earnings in the fourth quarter, and operations based on a target asset utilization rate of 80% or higher |
| Medium-term management plan targets | The company has not disclosed a medium-term management plan, and numerical targets are Not disclosed |
| Annual Dividend | Fiscal year ending May 2026 ¥52 per share / Forecast for the fiscal year ending May 2027 Regular dividend ¥57 per share / Commemorative dividend ¥8 per share / Annual Dividend ¥65 per share |
| Payout ratio | 30 % or higher |
| Key points of the Q&A | The drivers of the record-high results for the fiscal year ended May 2026, reasons for the decline in fourth-quarter standalone profit, the outlook for higher revenue and profits in the fiscal year ending May 2027, growth in the IT subscription and ITAD businesses, demand related to GIGA School and AI infrastructure, the Sagamihara Technical Center, M&A and alliances, the medium- to long-term strategy, investment in human capital, and shareholder returns |
| New initiatives | Expansion of support services into IT operations management, networking, security and servers, Expansion of the ITAD business to servers, storage, networking equipment and other products, Opening of the Sagamihara Technical Center, Handling collection and data erasure projects for GIGA School devices, Continued consideration of M&A and alliances |
Items this document does not state (16)
Net SalesOperating profitOrdinary incomeNet incomeGross Profit MarginOperating profit marginSelling, general and administrative expensesProgress against full-year forecastSelf-assessment against the planNumber of employeesRisk amount incorporated into the outlookFinancial targetsAcquisition of treasury sharesCapital expendituresOrders received and order backlogMarket Size / Share
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 reasons cited for the record-high results for the fiscal year ended May 2026 were demand for Windows OS upgrades, growth in recurring revenue from long-term contracts in the IT subscription business, and the securing of newer equipment and expansion of sales channels in the ITAD business. The expected increase in revenue and profits for the fiscal year ending May 2027 is attributed to the buildup of recurring revenue, growth in IT services, and higher ITAD sales prices and service revenue.
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.
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Corrections happenIf the company reissues this disclosure, the page is rebuilt from the corrected version and the revision number moves up.