Worth reading
63In 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
196
¥ million (year-on-year increase in operating income)Wording
Conditional
How definitive the wording is.Contents of this document
Earnings presentationFiscal year ending March 2026, full year9 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥38,928 million-2.1%
Operating profit¥2,626 million+8.1%
Ordinary income¥2,582 million+13.4%
Net income¥1,181 million+87.7%
Selling, general and administrative expenses¥7,374 million
Operating profit margin
Rate6.7
Year-on-year change (points)0.6
Results for the three months of the current quarterQuarterly standalone trends, including net sales of ¥9,380 million and operating profit of ¥730 million for 4Q FY3/26
Full-year earnings forecast
Net Sales
¥41,080 million
Operating profit
¥2,730 million
Ordinary income
¥2,730 million
Profit attributable to owners of the parent
¥1,850 million
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
The DH Group business finished above the Company's forecastBreakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
DH Group EBITDA
Increase in gross profit from higher sales523
Decline in gross margin-186
Increase in selling, general and administrative expenses-82
Impact of subsidiary sales and M&A-109
AGEST Group EBITDA
Decrease in gross profit from lower sales-43
Decline in gross margin-6
Control of SG&A expenses10
New initiatives
- Withdrawal of the spin-off listing policy
- Establishment of a CVC-related business and investment of approximately ¥500 million annually
- External sales of TFACT, an AI testing tool
- Provision of SBOM Archi, an SBOM management tool
- Introducing HumanOps OS, an AI-enabled collaborative operations platform
- Establishment of a local entity in Thailand, business and capital alliances with overseas companies, and the consolidation of HUWIZ
Key KPIsA metric the company considers important as a management benchmark.
- Number of customers ordering QA solutions787 companiesYear on year against the same period last yearUp from 719 companies
- Average annual customer spend on QA solutions¥17 millionYear on year against the same period last yearDown from ¥19 million
- Number of QA solutions engineers1,048 peopleYear on year against the same period last yearUp from 1,041 people
Unit price and quantity metricsThese figures show sales broken down by price and volume.
Number of ordering customers
FY3/25719 companies
FY3/26787 companies
Average annual customer spend
FY3/25¥19 million
FY3/26¥17 million
Segment results
DH Group
Net Sales23,130
Revenue unit¥ million
Year-on-year change in revenue-3.2
Underlying year-on-year change in net sales11.2
Segment profit2,245
Profit unit¥ million
Year-on-year change in profit15.7
AGEST Group
Net Sales15,994
Revenue unit¥ million
Year-on-year change in revenue-1
Segment profit380
Profit unit¥ million
Year-on-year change in profit-22.1
Number of employees
Number of Employees1,048 QA solutions engineers
Change during the periodDomestic +23 people, overseas -16 people
Annual Dividend
Annual dividend per share¥25
Interim¥12.5
End of period¥12.5
Payout ratio
30.1| Item | Details |
|---|---|
| Document type | Earnings presentation |
| Fiscal Period Covered | Fiscal year ending March 2026, full year |
| Net Sales | ¥38,928 million (YoY -2.1%) |
| Operating profit | ¥2,626 million (YoY +8.1%) |
| Ordinary income | ¥2,582 million (YoY +13.4%) |
| Net income | ¥1,181 million (YoY +87.7%) |
| Operating profit margin | Rate 6.7 / Year-on-year change (points) 0.6 |
| Selling, general and administrative expenses | ¥7,374 million |
| Results for the three months of the current quarter | Quarterly standalone trends, including net sales of ¥9,380 million and operating profit of ¥730 million for 4Q FY3/26 |
| Full-year earnings forecast | Net Sales ¥41,080 million / Operating profit ¥2,730 million / Ordinary income ¥2,730 million / Profit attributable to owners of the parent ¥1,850 million |
| Self-assessment against the plan | The DH Group business finished above the Company's forecast |
| Segment results | DH Group Net Sales 23,130 / Revenue unit ¥ million / Year-on-year change in revenue -3.2 / Underlying year-on-year change in net sales 11.2 / Segment profit 2,245 / Profit unit ¥ million / Year-on-year change in profit 15.7 / AGEST Group Net Sales 15,994 / Revenue unit ¥ million / Year-on-year change in revenue -1 / Segment profit 380 / Profit unit ¥ million / Year-on-year change in profit -22.1 |
| Breakdown of Factors Affecting the Change | DH Group EBITDA Increase in gross profit from higher sales 523 / Decline in gross margin -186 / Increase in selling, general and administrative expenses -82 / Impact of subsidiary sales and M&A -109 / AGEST Group EBITDA Decrease in gross profit from lower sales -43 / Decline in gross margin -6 / Control of SG&A expenses 10 |
| Key KPIs | Indicator name Number of customers ordering QA solutions / Value 787 companies / Year on year against the same period last year Up from 719 companies, Indicator name Average annual customer spend on QA solutions / Value ¥17 million / Year on year against the same period last year Down from ¥19 million, Indicator name Number of QA solutions engineers / Value 1,048 people / Year on year against the same period last year Up from 1,041 people |
| Unit price and quantity metrics | Number of ordering customers FY3/25 719 companies / FY3/26 787 companies / Average annual customer spend FY3/25 ¥19 million / FY3/26 ¥17 million |
| Number of employees | Number of Employees 1,048 QA solutions engineers / Change during the period Domestic +23 people, overseas -16 people |
| Annual Dividend | Annual dividend per share ¥25 / Interim ¥12.5 / End of period ¥12.5 |
| Payout ratio | 30.1 |
| New initiatives | Withdrawal of the spin-off listing policy, Establishment of a CVC-related business and investment of approximately ¥500 million annually, External sales of TFACT, an AI testing tool, Provision of SBOM Archi, an SBOM management tool, Introducing HumanOps OS, an AI-enabled collaborative operations platform, Establishment of a local entity in Thailand, business and capital alliances with overseas companies, and the consolidation of HUWIZ |
Items this document does not state (12)
Gross Profit MarginProgress against full-year forecastNumber of stores and locationsAssumptions Underlying the Business OutlookRisk amount incorporated into the outlookMedium-term management plan targetsFinancial targetsAcquisition of treasury sharesCapital expendituresOrders received and order backlogMarket Size / ShareKey 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.Net sales were affected by the exclusion from consolidation of a subsidiary sold in the previous fiscal year. The underlying increases in sales and profit were driven by growth in domestic debugging services against the backdrop of the launch of Nintendo Switch 2, an increase in higher-margin domestic debugging services, and AGEST's business structure reforms. Net income increased due to higher operating profit and a reduction in extraordinary losses, despite a decline from the previous fiscal year's gain on the sale of shares in an affiliated company.
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