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
124
Year-on-year change in operating income (%)Wording
Conditional
How definitive the wording is.Contents of this document
Earnings presentationInterim period of the fiscal year ending December 202614 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥10,022 million+15.1%
Operating profit¥1,777 million+124.0%
Ordinary income¥1,882 million+140.8%
Net income¥1,447 million+150.8%
Gross Profit Margin50.1%
Operating profit margin17.7%
Selling, general and administrative expenses¥3,240 million
Full-year earnings forecast
Net Sales
¥22,300 million
Operating profit
¥3,900 million
Ordinary income
¥3,950 million
Profit attributable to owners of the parent
¥2,670 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 Sales44.9%
Operating profit45.6%
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
Progress ahead of the company planBreakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
- Revenue increase¥1,311 million
- Increase in costs of sales¥-157 million
- Personnel and outsourcing expenses, etc.¥43 million
- Advertising and sales promotion expenses¥-29 million
- Communication expenses¥-3 million
- Research and development costs¥-155 million
- Other¥-26 million
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
Risks related to the uncertain external environment are discussed, but numerical assumptions for foreign exchange rates, raw material prices and other factors are not disclosedNew initiatives
- Launch of a new license plan integrating NetAttest EPS and Soliton OneGate
- Personal information auto-detection functionality to be included as standard in the new version of FileZen S
- Signing of a memorandum of cooperation with UNDP to promote remote construction technology in Ukraine
- Participation in an autonomous driving demonstration project for small EV buses with Tokyu Bus
- Free lending of wearable cameras and a cloud-based video distribution service to municipalities affected by the Kumamoto Earthquake
- Development and launch of analog edge AI chips
Key KPIsA metric the company considers important as a management benchmark.
- Number of users adopting new NetAttest EPS licenses17 10,000 people
- Domestic share of the RADIUS appliance marketNo.1
- Stock business ratio in IT security45%
- 2028 stock business ratio targetApproximately 55%
Unit price and quantity metricsThese figures show sales broken down by price and volume.
The company stated that it aims to increase ARPU (average revenue per user), but the actual ARPU is not disclosedSegment results
IT Security
Net Sales
¥9,437 million+15.3%
Segment profit
¥2,335 million+85.8%
Visual Communications
Net Sales
¥495 million+16.0%
Segment profit
¥-131 million
Eco New Business Development
Net Sales
¥89 million-6.2%
Segment profit
¥-113 million
Medium-term management plan targets
2028Revenue of ¥24.5 billion, operating profit of ¥5.0 billion, operating margin of 20.4%, EPS of ¥184 and ROE of 20.0%
2027Revenue of ¥22.3 billion and operating profit of ¥3.9 billion
Financial targets
ROE
FY26 target16.9%
FY27 target17.5%
FY28 target20.0%
Equity ratio
Actual results52.7%
Market Size / Share
No. 1 domestic share of the RADIUS appliance market (for more than 20 consecutive years)Number of stores and locations
The number of locations is provided, but the period-end number and the number of openings and closures during the period are not disclosedNumber of employees
655 people
Record date31 December 2025
Annual Dividend
Annual
¥72 per share
Interim
¥30 per share
End of period
¥42 per share
Payout ratio
Approximately 50.0%
Forecast after revision50.0%
Shareholder Equity Dividend RatioApproximately 8.0% (estimated at 9.3%)
| Item | Details |
|---|---|
| Document type | Earnings presentation |
| Fiscal Period Covered | Interim period of the fiscal year ending December 2026 |
| Net Sales | ¥10,022 million (YoY +15.1%) |
| Operating profit | ¥1,777 million (YoY +124.0%) |
| Ordinary income | ¥1,882 million (YoY +140.8%) |
| Net income | ¥1,447 million (YoY +150.8%) |
| Gross Profit Margin | 50.1% |
| Operating profit margin | 17.7% |
| Selling, general and administrative expenses | ¥3,240 million |
| Full-year earnings forecast | Net Sales ¥22,300 million / Operating profit ¥3,900 million / Ordinary income ¥3,950 million / Profit attributable to owners of the parent ¥2,670 million |
| Progress against full-year forecast | Net Sales 44.9% / Operating profit 45.6% |
| Self-assessment against the plan | Progress ahead of the company plan |
| Segment results | IT Security Net Sales ¥9,437 million (YoY +15.3%) / Segment profit ¥2,335 million (YoY +85.8%) / Visual Communications Net Sales ¥495 million (YoY +16.0%) / Segment profit ¥-131 million / Eco New Business Development Net Sales ¥89 million (YoY -6.2%) / Segment profit ¥-113 million |
| Breakdown of Factors Affecting the Change | Factors Revenue increase / Amount ¥1,311 million, Factors Increase in costs of sales / Amount ¥-157 million, Factors Personnel and outsourcing expenses, etc. / Amount ¥43 million, Factors Advertising and sales promotion expenses / Amount ¥-29 million, Factors Communication expenses / Amount ¥-3 million, Factors Research and development costs / Amount ¥-155 million, Factors Other / Amount ¥-26 million |
| Key KPIs | Indicator name Number of users adopting new NetAttest EPS licenses / Value 17 10,000 people / Year on year against the same period last year Not disclosed, Indicator name Domestic share of the RADIUS appliance market / Value No.1 / Year on year against the same period last year Not disclosed, Indicator name Stock business ratio in IT security / Value 45% / Year on year against the same period last year Not disclosed, Indicator name 2028 stock business ratio target / Value Approximately 55% / Year on year against the same period last year Not disclosed |
| Unit price and quantity metrics | The company stated that it aims to increase ARPU (average revenue per user), but the actual ARPU is not disclosed |
| Number of stores and locations | The number of locations is provided, but the period-end number and the number of openings and closures during the period are not disclosed |
| Number of employees | 655 people |
| Assumptions Underlying the Business Outlook | Risks related to the uncertain external environment are discussed, but numerical assumptions for foreign exchange rates, raw material prices and other factors are not disclosed |
| Medium-term management plan targets | 2028 Revenue of ¥24.5 billion, operating profit of ¥5.0 billion, operating margin of 20.4%, EPS of ¥184 and ROE of 20.0% / 2027 Revenue of ¥22.3 billion and operating profit of ¥3.9 billion |
| Financial targets | ROE FY26 target 16.9% / FY27 target 17.5% / FY28 target 20.0% / Equity ratio Actual results 52.7% / Target Not disclosed |
| Annual Dividend | Annual ¥72 per share / Interim ¥30 per share / End of period ¥42 per share |
| Payout ratio | Approximately 50.0% |
| Market Size / Share | No. 1 domestic share of the RADIUS appliance market (for more than 20 consecutive years) |
| New initiatives | Launch of a new license plan integrating NetAttest EPS and Soliton OneGate, Personal information auto-detection functionality to be included as standard in the new version of FileZen S, Signing of a memorandum of cooperation with UNDP to promote remote construction technology in Ukraine, Participation in an autonomous driving demonstration project for small EV buses with Tokyu Bus, Free lending of wearable cameras and a cloud-based video distribution service to municipalities affected by the Kumamoto Earthquake, Development and launch of analog edge AI chips |
Items this document does not state (6)
Results for the three months of the current quarterRisk amount incorporated into the outlookAcquisition of treasury sharesCapital expendituresOrders received and order backlogKey points of the Q&A
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.Revenue increased because sales of proprietary products and services remained strong and the company captured replacement demand associated with the end of life of the legacy version of NetAttest EPS. Higher sales of high-margin proprietary products and services improved the gross profit margin, while cost controls also contributed to higher profit.
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.