Worth reading
69In focus
0–100. This measures how worthwhile something is to read, not how good or bad the company is.Direction
Improvement
Direction inferred from the company’s description.Scale
48
¥ billion (revenue: ¥19.7 billion to ¥24.5 billion)Wording
Avoiding a definitive answer
How definitive the wording is.Items stated in the management plan
FormulatedNet Sales+0.1%
基準 2,025Target2,028100 million
Operating profit+0.1%
基準 2,025Target2,028100 million
Operating profit margin+3.0pt
基準 2,025Target2,028％
ROE+3.0pt
基準 2,025Target2,028％
Each line is the climb from the baseline the document states to the target it sets. The slope is scaled against the largest climb in this document. For metrics expressed as percentages, differences are shown in percentage points (pt).The increase shown by the dotted line is calculated from the two reported figures because the company did not provide the amount of growth.
What happened to the previous plan60% (target as of FY25) → 44% (FY25 actual)（Approximately –26.7%）-26.7%Calculated from the two disclosed figures
Total investment planThe company indicates approximately ¥13.0 billion of investable capital, but does not expressly state that this is the total investment over the plan period.
Investment amount by sectorField R&D investment / Amount Not disclosed, Field M&A and other investments to strengthen the business platform and support growth / Amount Not disclosed, Field Launch and miniaturization of analog edge AI chips / Amount Not disclosed, Field Human resources investment / Amount Not disclosed
Statements about the use of capital
Payout ratio / DOE policyThe company will continue to pay stable dividends and increase dividends in line with profit growth. It will use a consolidated payout ratio of 50% and a consolidated dividend-on-equity ratio (DOE) of 8.0% as guidelines. No applicable period is specified.The payout ratio is the proportion of profit paid out as dividends, while DOE is the ratio of dividends to net assets.
Key initiatives
01Promote the Soliton Zero Trust Solution
02Promote the stock business
03Promote the cloud migration and functional enhancement of IT security products
04Invest to strengthen the business platform and support growth, including M&A
05Promote the global business
06Invest in the development of analog edge AI chips
07Human resources investment
08Improve employee compensation and benefits
09Training investment
10Use of AI
11Expand market share in the public sector
12Expand applications for remote operation
13Accelerating overseas expansion
14Launch analog edge AI chips
Plan assumptionsThe number of shares and foreign exchange rates used in calculating EPS and ROE are based on those as of the end of December 2025., The market size is converted into yen using an exchange rate of USD 1 = ¥160.
Segment targetSegment IT Security / Net Sales ¥18.5 billion → ¥22.5 billion / Operating profit ¥3.7 billion → ¥5.5 billion / Period FY25 actual → FY28 target / CAGR Revenue 7%, operating profit 14%, Segment Visual Communications / Net Sales ¥1.05 billion → ¥1.65 billion / Operating profit –¥110 million → ¥170 million / Period FY25 actual → FY28 target / CAGR Revenue 16%, Segment Eco New Business Development / Net Sales ¥190 million → ¥350 million / Operating profit –¥180 million → –¥160 million / Period FY25 actual → FY28 target / CAGR Revenue 22%, Segment Head office expenses / Amount ¥580 million → ¥510 million / Notes The FY2025 actual figure has been adjusted for comparison with FY2028.
Non-financial targetsIndicator Average salary / Target value Approximately 13% increase / Timing Comparison between 2020 and 2024, Indicator Time spent on new development and research as a percentage of working hours in the development division / Target value 10～20％ / Timing Not disclosed, Indicator Stock-business ratio / Target value Approximately 44% to 55% / Timing 2025 to 2028
Size of the Target MarketMarket Domestic zero-trust security market / Scale Approximately ¥778.2 billion (2030) / Growth rate 2025–2030 CAGR 18.8% / Source Japan Zero Trust Security Market Size & Outlook, 2030, Market Domestic desktop virtualization market / Scale Approximately ¥224.2 billion (estimated for 2030) / Growth rate 2026–2034 CAGR 9.2% / Source Japan Desktop Virtualization Market Size & Forecast 2034, Market Domestic IDaaS market / Scale ¥19.2 billion (2025), ¥22.2 billion (2026), ¥25.0 billion (2027), ¥27.5 billion (2028) / Growth rate 2025–2028 CAGR 12.6% / Source 2025 Network Security Business Market Research Compendium, Market Edition (Fuji Chimera Research Institute), Market Domestic dataless client market / Scale ¥4.4 billion (2025), ¥6.6 billion (2026), ¥9.4 billion (2027), ¥10.9 billion (2028) / Growth rate 2025–2028 CAGR 25.2% / Source Demand Forecast Survey for Dataless Clients among Domestic Corporations (MM Research Institute), Market Remote operation sector / Scale Approximately ¥80 billion / Growth rate Not disclosed / Source Estimate based on installing remote-operation systems in 1% of approximately 1 million hydraulic excavators in Japan, Market Airborne LTE / Scale Approximately ¥2 billion / Growth rate Not disclosed / Source Estimate based on installing the system in half of approximately 1,300 helicopters in Japan
Risks identified by the company
Declining working-age population and shortage of security personnel
US–China tensions and geopolitical risks
Semiconductor supply chain
Increasing sophistication and acceleration of cyberattacks using AI
Tightening regulations
Tightening data privacy regulations
Responding to generative AI and AI transformation
Responding to post-quantum cryptography
Reason for revision or withdrawal
As the use of AI and digitalization become prerequisites for corporate activities, the company considers it important to adapt to change and evolve into an organization that supports society's digital transformation while ensuring robust security and safety.
| Item | Details |
|---|---|
| Plan name | Mid-Term Management Plan (2026–2028) |
| Plan period | Three fiscal years from the fiscal year ending December 2026 through the fiscal year ending December 2028 |
| Progress against the plan | Formulated |
| Sales Target | ¥19.7 billion (actual for the fiscal year ended December 2025) → ¥24.5 billion (target for the fiscal year ending December 2028)（CAGR 7.4％） |
| Operating profit target | ¥2.8 billion (actual for the fiscal year ended December 2025) → ¥5.0 billion (target for the fiscal year ending December 2028)（CAGR 20.6％） |
| Operating profit margin target | 14.4% (actual for the fiscal year ended December 2025) → 20.4% (target for the fiscal year ending December 2028) |
| ROE target | 18.0% (actual for the fiscal year ended December 2025) → 20.0% (target for the fiscal year ending December 2028) |
| Payout ratio / DOE policy | The company will continue to pay stable dividends and increase dividends in line with profit growth. It will use a consolidated payout ratio of 50% and a consolidated dividend-on-equity ratio (DOE) of 8.0% as guidelines. No applicable period is specified. |
| Total investment plan | The company indicates approximately ¥13.0 billion of investable capital, but does not expressly state that this is the total investment over the plan period. |
| Investment amount by sector | Field R&D investment / Amount Not disclosed, Field M&A and other investments to strengthen the business platform and support growth / Amount Not disclosed, Field Launch and miniaturization of analog edge AI chips / Amount Not disclosed, Field Human resources investment / Amount Not disclosed |
| Segment target | Segment IT Security / Net Sales ¥18.5 billion → ¥22.5 billion / Operating profit ¥3.7 billion → ¥5.5 billion / Period FY25 actual → FY28 target / CAGR Revenue 7%, operating profit 14%, Segment Visual Communications / Net Sales ¥1.05 billion → ¥1.65 billion / Operating profit –¥110 million → ¥170 million / Period FY25 actual → FY28 target / CAGR Revenue 16%, Segment Eco New Business Development / Net Sales ¥190 million → ¥350 million / Operating profit –¥180 million → –¥160 million / Period FY25 actual → FY28 target / CAGR Revenue 22%, Segment Head office expenses / Amount ¥580 million → ¥510 million / Notes The FY2025 actual figure has been adjusted for comparison with FY2028. |
| Non-financial targets | Indicator Average salary / Target value Approximately 13% increase / Timing Comparison between 2020 and 2024, Indicator Time spent on new development and research as a percentage of working hours in the development division / Target value 10～20％ / Timing Not disclosed, Indicator Stock-business ratio / Target value Approximately 44% to 55% / Timing 2025 to 2028 |
| Plan assumptions | The number of shares and foreign exchange rates used in calculating EPS and ROE are based on those as of the end of December 2025., The market size is converted into yen using an exchange rate of USD 1 = ¥160. |
| Key initiatives | Promote the Soliton Zero Trust Solution, Promote the stock business, Promote the cloud migration and functional enhancement of IT security products, Invest to strengthen the business platform and support growth, including M&A, Promote the global business, Invest in the development of analog edge AI chips, Human resources investment, Improve employee compensation and benefits, Training investment, Use of AI, Expand market share in the public sector, Expand applications for remote operation, Accelerating overseas expansion, Launch analog edge AI chips |
| Results under the previous plan | 60% (target as of FY25) → 44% (FY25 actual)（Approximately –26.7%） |
| Reason for revision or withdrawal | As the use of AI and digitalization become prerequisites for corporate activities, the company considers it important to adapt to change and evolve into an organization that supports society's digital transformation while ensuring robust security and safety. |
| Size of the Target Market | Market Domestic zero-trust security market / Scale Approximately ¥778.2 billion (2030) / Growth rate 2025–2030 CAGR 18.8% / Source Japan Zero Trust Security Market Size & Outlook, 2030, Market Domestic desktop virtualization market / Scale Approximately ¥224.2 billion (estimated for 2030) / Growth rate 2026–2034 CAGR 9.2% / Source Japan Desktop Virtualization Market Size & Forecast 2034, Market Domestic IDaaS market / Scale ¥19.2 billion (2025), ¥22.2 billion (2026), ¥25.0 billion (2027), ¥27.5 billion (2028) / Growth rate 2025–2028 CAGR 12.6% / Source 2025 Network Security Business Market Research Compendium, Market Edition (Fuji Chimera Research Institute), Market Domestic dataless client market / Scale ¥4.4 billion (2025), ¥6.6 billion (2026), ¥9.4 billion (2027), ¥10.9 billion (2028) / Growth rate 2025–2028 CAGR 25.2% / Source Demand Forecast Survey for Dataless Clients among Domestic Corporations (MM Research Institute), Market Remote operation sector / Scale Approximately ¥80 billion / Growth rate Not disclosed / Source Estimate based on installing remote-operation systems in 1% of approximately 1 million hydraulic excavators in Japan, Market Airborne LTE / Scale Approximately ¥2 billion / Growth rate Not disclosed / Source Estimate based on installing the system in half of approximately 1,300 helicopters in Japan |
| Risks identified | Declining working-age population and shortage of security personnel, US–China tensions and geopolitical risks, Semiconductor supply chain, Increasing sophistication and acceleration of cyberattacks using AI, Tightening regulations, Tightening data privacy regulations, Responding to generative AI and AI transformation, Responding to post-quantum cryptography |
| Date of board resolution | 19 March 2026 |
| Publication date | 19 March 2026 |
Items this document does not state (5)
Net income targetROIC targetTreasury share acquisition policyCost of capitalSelf-assessment of PBR and share price
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.As the use of AI and digitalization become prerequisites for corporate activities, the company aims to evolve into an organization that supports society's digital transformation while ensuring robust security and safety. It intends to balance investment in next-generation growth drivers with sustained profit growth.
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.