Worth reading
48Recurring
0–100. This measures how worthwhile something is to read, not how good or bad the company is.Direction
Deterioration
Direction inferred from the company’s description.Scale
3052417888
Yen (market capitalization; listing maintenance criterion: ¥4,000,000,000)Wording
Avoiding a definitive answer
How definitive the wording is.Items stated in the management plan
FormulatedStatements about the use of capital
Payout ratio / DOE policyThe Company cannot pay dividends at present because it has reported losses for 4 consecutive years and retained earnings are negative. It will focus on expanding earnings and strive to implement an appropriate dividend policy. The applicable period is Not disclosed.The payout ratio is the proportion of profit paid out as dividends, while DOE is the ratio of dividends to net assets.
Self-assessment of PBR and share priceThe PBR is Not disclosed. The Company stated that the share price fell “substantially” and then “further” due to the sale of shares by a major shareholder and changes to the shareholder benefit program. It will enhance the appeal of its business value and future prospects to create an environment conducive to an increase in the share price.PBR is a measure of how many times the share price is the book value per share.
Key initiatives
01(1) Increasing corporate value
02(2) Increasing the number of shares outstanding
03(3) Strengthening IR activities
04(4) Strengthening shareholder returns
05[Phase 1] Launch of a domestic GPU procurement and sales business
06[Phase 2] Joint development and operation of AI data centers
07[Phase 3] Attracting global AI operators to the Japanese market
Plan assumptionsThe Company states that demand in Japan’s GPU market is “strong while supply is insufficient,” but the numerical assumptions are Not disclosed.
Size of the Target MarketThe Company provides a qualitative description of strong demand and insufficient supply in Japan’s GPU market, but the market size, growth rate and source are Not disclosed.
Risks identified by the company
The risk of being designated as a Security Under Supervision if the Company fails to meet the market capitalization criterion during the improvement period through 31 March 2027
The risk of subsequently being designated as a Security to Be Delisted and delisted on 1 October 2027 if compliance is still not confirmed
The risk that the share price and market capitalization will be affected by sales of the Company’s shares by large shareholders and changes to the shareholder benefit program
The risk that the conversion into shares of the convertible bonds with stock acquisition rights already issued, or the exercise of stock acquisition rights, will not progress and will not contribute to an increase in market capitalization
| Item | Details |
|---|---|
| Plan name | Plan to Meet the Listing Maintenance Criteria |
| Plan period | Start year: Not disclosed; final year: through 31 March 2027 |
| Progress against the plan | Formulated |
| Payout ratio / DOE policy | The Company cannot pay dividends at present because it has reported losses for 4 consecutive years and retained earnings are negative. It will focus on expanding earnings and strive to implement an appropriate dividend policy. The applicable period is Not disclosed. |
| Self-assessment of PBR and share price | The PBR is Not disclosed. The Company stated that the share price fell “substantially” and then “further” due to the sale of shares by a major shareholder and changes to the shareholder benefit program. It will enhance the appeal of its business value and future prospects to create an environment conducive to an increase in the share price. |
| Plan assumptions | The Company states that demand in Japan’s GPU market is “strong while supply is insufficient,” but the numerical assumptions are Not disclosed. |
| Key initiatives | (1) Increasing corporate value, (2) Increasing the number of shares outstanding, (3) Strengthening IR activities, (4) Strengthening shareholder returns, [Phase 1] Launch of a domestic GPU procurement and sales business, [Phase 2] Joint development and operation of AI data centers, [Phase 3] Attracting global AI operators to the Japanese market |
| Size of the Target Market | The Company provides a qualitative description of strong demand and insufficient supply in Japan’s GPU market, but the market size, growth rate and source are Not disclosed. |
| Risks identified | The risk of being designated as a Security Under Supervision if the Company fails to meet the market capitalization criterion during the improvement period through 31 March 2027, The risk of subsequently being designated as a Security to Be Delisted and delisted on 1 October 2027 if compliance is still not confirmed, The risk that the share price and market capitalization will be affected by sales of the Company’s shares by large shareholders and changes to the shareholder benefit program, The risk that the conversion into shares of the convertible bonds with stock acquisition rights already issued, or the exercise of stock acquisition rights, will not progress and will not contribute to an increase in market capitalization |
| Publication date | 29 June 2026 |
Items this document does not state (15)
Sales TargetOperating profit targetOperating profit margin targetNet income targetROE targetROIC targetTreasury share acquisition policyCost of capitalTotal investment planInvestment amount by sectorSegment targetNon-financial targetsResults under the previous planReason for revision or withdrawalDate of board resolution
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 share price fell substantially following the partial transfer and subsequent sale of additional shares by a major shareholder, and fell further following changes to the shareholder benefit program. The Company also cited a lack of positive business catalysts and insufficient IR and PR activities.
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.