Worth reading
76Important
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
9.9
Year-on-year change in net sales (%)Wording
Definitive
How definitive the wording is.Contents of this document
Earnings presentationThird quarter of the fiscal year ending December 202613 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥14,415 million+9.9%
Operating profit¥1,629 million+22.0%
Ordinary income¥1,620 million+21.4%
Net income¥1,071 million+19.7%
Full-year earnings forecast
Net Sales
¥19,238 million
Operating profit
¥1,909 million
Ordinary income
¥1,900 million
Net income
¥1,308 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 Sales74.9%
Recurring sales76.8%
Operating profit85.3%
Ordinary income85.3%
Net income82.0%
Distribution cloud business revenue67.8%
Government cloud business revenue80.7%
Trust business revenue73.3%
Mobile network business revenue73.4%
Distribution cloud business ordinary profit51.0%
Government cloud business ordinary profit104.2%
Trust business ordinary profit14.2%
Mobile network business ordinary profit58.4%
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
Revenue and profit are progressing broadly in line with the plan.Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
Revenue up
¥2 100 million
Increase in distribution cloud cost of sales
¥-2.8 100 million
Increase in software amortization
¥-0.1 100 million
Increase in SG&A expenses
¥-0.4 100 million
Contribution from government cloud projects
¥5.4 100 million
Trust large-scale development projects
¥0.6 100 million
Changes to Trust's incentive structure, promotional expenses, personnel expenses, etc.
¥-1.2 100 million
Strengthening of Mobile's internal information systems, etc.
¥-0.5 100 million
New initiatives
- Development aimed at adding AI functionality to @rmsV6 in the Distribution Cloud business
- Release of an emergency-order continuation function for the retail EDI system ‘BXNOAH’
- Implementation of AI functionality in ‘みんなの窓口’ (One-Stop Public Service Counter) and ActiveCity in the Government Cloud business
- Establishment of a centralized headquarters operations site for the Mobile Network business
- Construction of a verifiable credentials (VC) distribution platform and wallet for the Trust business
- Introduction of a Restricted Stock Incentive Plan for the Employee Shareholding Association
Key KPIsA metric the company considers important as a management benchmark.
Recurring sales
¥7,395 million+13.3%
Distribution cloud ARR
¥44.3 100 million
Number of stores using core systems
1,276 stores
Number of IDs using C2Platform
863 ID
RetailPro locations overseas
203 stores
RetailPro locations in Japan
39 stores
Segment results
Distribution Cloud business
Net Sales
¥4,053 million
Year-on-year revenue5.3%
Ordinary income
¥408 million
Year-on-year change in ordinary profit-26.0%
Government Cloud business
Net Sales
¥6,997 million
Year-on-year revenue15.3%
Ordinary income
¥1,408 million
Year-on-year change in ordinary profit63.1%
Trust business
Net Sales
¥263 million
Year-on-year revenue212.5%
Ordinary income
¥0 million
Year-on-year change in ordinary profitNot comparable
Mobile Network business
Net Sales
¥3,101 million
Year-on-year revenue-0.2%
Ordinary income
¥182 million
Year-on-year change in ordinary profit-41.4%
Medium-term management plan targets
Net Sales
¥221 100 million
Target fiscal year2,030
Recurring revenue
¥126 100 million
Target fiscal year2,030
Ordinary income
¥30 100 million
Target fiscal year2,030
ROE
13 % or higher
Target fiscal year2,030
PER
17 times or more
Target fiscal year2,030
PBR
2.2 times or more
Target fiscal year2,030
Financial targets
ROE targetAt least 13.0% (2030)
Actual ROE15.3% (fiscal 2025)
P/B ratio targetAt least 2.2x (2030)
PER targetAt least 17x (2030)
Market Size / Share
Industry-average PBR of 2.6x, industry-average ROE of 12.1% and industry-average PER of 21.4x were presented. Market size and market share were Not disclosed.Number of stores and locations
The JR Wakayama Station-front store was closed and the Aeon Town Kishigawa store was opened. The total number of stores at the end of the period was Not disclosed.Number of employees
903 people
As ofEnd of December 2025
Capital expenditures
¥46 100 million five-year cumulative fixed-asset investment under the medium-term management plan
Annual Dividend
35 yen per share
BreakdownInterim and year-end breakdown: Not disclosed
Acquisition of treasury shares
A policy of executing flexible share repurchases was mentioned. The repurchase amount, number of shares and period were Not disclosed.| Item | Details |
|---|---|
| Document type | Earnings presentation |
| Fiscal Period Covered | Third quarter of the fiscal year ending December 2026 |
| Net Sales | ¥14,415 million (YoY +9.9%) |
| Operating profit | ¥1,629 million (YoY +22.0%) |
| Ordinary income | ¥1,620 million (YoY +21.4%) |
| Net income | ¥1,071 million (YoY +19.7%) |
| Full-year earnings forecast | Net Sales ¥19,238 million / Operating profit ¥1,909 million / Ordinary income ¥1,900 million / Net income ¥1,308 million |
| Progress against full-year forecast | Net Sales 74.9% / Recurring sales 76.8% / Operating profit 85.3% / Ordinary income 85.3% / Net income 82.0% / Distribution cloud business revenue 67.8% / Government cloud business revenue 80.7% / Trust business revenue 73.3% / Mobile network business revenue 73.4% / Distribution cloud business ordinary profit 51.0% / Government cloud business ordinary profit 104.2% / Trust business ordinary profit 14.2% / Mobile network business ordinary profit 58.4% |
| Self-assessment against the plan | Revenue and profit are progressing broadly in line with the plan. |
| Segment results | Distribution Cloud business Net Sales ¥4,053 million / Year-on-year revenue 5.3% / Ordinary income ¥408 million / Year-on-year change in ordinary profit -26.0% / Government Cloud business Net Sales ¥6,997 million / Year-on-year revenue 15.3% / Ordinary income ¥1,408 million / Year-on-year change in ordinary profit 63.1% / Trust business Net Sales ¥263 million / Year-on-year revenue 212.5% / Ordinary income ¥0 million / Year-on-year change in ordinary profit Not comparable / Mobile Network business Net Sales ¥3,101 million / Year-on-year revenue -0.2% / Ordinary income ¥182 million / Year-on-year change in ordinary profit -41.4% |
| Breakdown of Factors Affecting the Change | Revenue up ¥2 100 million / Increase in distribution cloud cost of sales ¥-2.8 100 million / Increase in software amortization ¥-0.1 100 million / Increase in SG&A expenses ¥-0.4 100 million / Contribution from government cloud projects ¥5.4 100 million / Trust large-scale development projects ¥0.6 100 million / Changes to Trust's incentive structure, promotional expenses, personnel expenses, etc. ¥-1.2 100 million / Strengthening of Mobile's internal information systems, etc. ¥-0.5 100 million |
| Key KPIs | Recurring sales ¥7,395 million (YoY +13.3%) / Distribution cloud ARR ¥44.3 100 million / Number of stores using core systems 1,276 stores / Number of IDs using C2Platform 863 ID / RetailPro locations overseas 203 stores / RetailPro locations in Japan 39 stores |
| Number of stores and locations | The JR Wakayama Station-front store was closed and the Aeon Town Kishigawa store was opened. The total number of stores at the end of the period was Not disclosed. |
| Number of employees | 903 people |
| Medium-term management plan targets | Net Sales ¥221 100 million / Recurring revenue ¥126 100 million / Ordinary income ¥30 100 million / ROE 13 % or higher / PER 17 times or more / PBR 2.2 times or more |
| Financial targets | ROE target At least 13.0% (2030) / Actual ROE 15.3% (fiscal 2025) / P/B ratio target At least 2.2x (2030) / PER target At least 17x (2030) |
| Annual Dividend | 35 yen per share |
| Acquisition of treasury shares | A policy of executing flexible share repurchases was mentioned. The repurchase amount, number of shares and period were Not disclosed. |
| Capital expenditures | ¥46 100 million (five-year cumulative fixed-asset investment under the medium-term management plan) |
| Market Size / Share | Industry-average PBR of 2.6x, industry-average ROE of 12.1% and industry-average PER of 21.4x were presented. Market size and market share were Not disclosed. |
| New initiatives | Development aimed at adding AI functionality to @rmsV6 in the Distribution Cloud business, Release of an emergency-order continuation function for the retail EDI system ‘BXNOAH’, Implementation of AI functionality in ‘みんなの窓口’ (One-Stop Public Service Counter) and ActiveCity in the Government Cloud business, Establishment of a centralized headquarters operations site for the Mobile Network business, Construction of a verifiable credentials (VC) distribution platform and wallet for the Trust business, Introduction of a Restricted Stock Incentive Plan for the Employee Shareholding Association |
Items this document does not state (10)
Gross Profit MarginOperating profit marginSelling, general and administrative expensesResults for the three months of the current quarterUnit price and quantity metricsAssumptions Underlying the Business OutlookRisk amount incorporated into the outlookPayout ratioOrders 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.In the Government Cloud business, projects including the standardization of municipalities' core business systems, disaster-prevention construction and document management contributed to results. In the Distribution Cloud business, revenue increased as services expanded, while labor and other costs rose as the company strengthened its organization for new implementation projects. In the Mobile Network business, changes to the incentive structure, higher sales promotion expenses and increased personnel costs resulting from higher salary levels reduced 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.