Worth reading
59In focus
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
-1778
¥ millions (year-on-year change in revenue)Wording
Conditional
How definitive the wording is.Contents of this document
Financial results presentationFiscal year ending March 2026, full year8 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥5,686 million
Operating profit¥-1,876 million
Ordinary income¥-1,651 million
Net income¥-1,708 million
Selling, general and administrative expenses¥2,687 million
Results for the three months of the current quarter
Net Sales
¥2,313 million
Adjusted EBITDA
¥786 million
Full-year earnings forecast
Fiscal Period CoveredFiscal year ending March 2027
Net Sales
¥7,000 million
License-based revenue
¥3,000 million
Project-based revenue
¥4,000 million
Adjusted EBITDA
¥50 million
What the company explained in this material
Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
Year-on-year sales
Increase in corporate licenses and other factors1,423
Changes in project contracting structure, timing shifts and other factors-3,201
Year-on-year change in adjusted EBITDA
Increase in license-based revenue194
Reduction in cost of sales228
SG&A cost reduction52
Improved profitability at subsidiaries25
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
Exchange rate¥145/USD (used to calculate the pipeline from FY26 onward)
New initiatives
- Strengthening the development of AI-native data and products
- Roll-up M&A of surveying companies
- Use of AI through a partnership with Microsoft Japan
- Participation in the NVIDIA Omniverse Partner Council Japan
- Developing 3Dmapspocket® into an integrated 3D spatial platform
Key KPIsA metric the company considers important as a management benchmark.
- Number of countries entered26 countries
- Overseas revenue ratio74 %
- High-precision 3D data coverage180 10,000 km
- Growth rate of license-based revenue121 %
- Number of mass-production vehicle models equipped38 Models
Unit price and quantity metricsThese figures show sales broken down by price and volume.
Mass-production licenses are calculated as unit price × quantity (number of vehicles). The exchange-rate assumption from FY27 onward is ¥145/USD.Segment results
Project-based revenue
¥3,092 million
License-based revenue
¥2,594 million
Domestic revenue
¥1,456 million
Overseas revenue
¥4,229 million
Market Size / Share
Physical AI market sizeUS$82,791 million in 2035
Market Growth Rate30% CAGR
Number of employees
235 people as of May 2026
| Item | Details |
|---|---|
| Document type | Financial results presentation |
| Fiscal Period Covered | Fiscal year ending March 2026, full year |
| Net Sales | ¥5,686 million |
| Operating profit | ¥-1,876 million |
| Ordinary income | ¥-1,651 million |
| Net income | ¥-1,708 million |
| Selling, general and administrative expenses | ¥2,687 million |
| Results for the three months of the current quarter | Net Sales ¥2,313 million / Adjusted EBITDA ¥786 million |
| Full-year earnings forecast | Fiscal Period Covered Fiscal year ending March 2027 / Net Sales ¥7,000 million / License-based revenue ¥3,000 million / Project-based revenue ¥4,000 million / Adjusted EBITDA ¥50 million |
| Segment results | Project-based revenue ¥3,092 million / License-based revenue ¥2,594 million / Domestic revenue ¥1,456 million / Overseas revenue ¥4,229 million |
| Breakdown of Factors Affecting the Change | Year-on-year sales Increase in corporate licenses and other factors 1,423 / Changes in project contracting structure, timing shifts and other factors -3,201 / Year-on-year change in adjusted EBITDA Increase in license-based revenue 194 / Reduction in cost of sales 228 / SG&A cost reduction 52 / Improved profitability at subsidiaries 25 |
| Key KPIs | Number of countries entered 26 countries, Overseas revenue ratio 74 %, High-precision 3D data coverage 180 10,000 km, Growth rate of license-based revenue 121 %, Number of mass-production vehicle models equipped 38 Models |
| Unit price and quantity metrics | Mass-production licenses are calculated as unit price × quantity (number of vehicles). The exchange-rate assumption from FY27 onward is ¥145/USD. |
| Number of employees | 235 people (as of May 2026) |
| Assumptions Underlying the Business Outlook | Exchange rate ¥145/USD (used to calculate the pipeline from FY26 onward) |
| Market Size / Share | Physical AI market size US$82,791 million in 2035 / Market Growth Rate 30% CAGR |
| New initiatives | Strengthening the development of AI-native data and products, Roll-up M&A of surveying companies, Use of AI through a partnership with Microsoft Japan, Participation in the NVIDIA Omniverse Partner Council Japan, Developing 3Dmapspocket® into an integrated 3D spatial platform |
Items this document does not state (14)
Gross Profit MarginOperating profit marginProgress against full-year forecastSelf-assessment against the planNumber of stores and locationsRisk amount incorporated into the outlookMedium-term management plan targetsFinancial targetsAnnual DividendPayout ratioAcquisition 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.The decline in revenue was mainly due to changes in the contracting structure for project-based engagements, a reduction in government projects, overseas auto projects being pushed into the following period, and customers curbing investment and development activities due to the impact of U.S. tariff policies. Improvements in license-based revenue and adjusted EBITDA resulted from an increase in corporate license engagements, lower cost of sales for project-based engagements, improved profitability at subsidiaries, and reductions in selling, general and administrative expenses.
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.