Worth reading
82Important
Scored from 4 of 5 sectionsDirection
Improvement
Direction inferred from the company’s description.Scale
7029
¥ million (revenue plan for the fiscal year ending March 2029)Wording
Avoiding a definitive answer
How definitive the wording is.Items stated in the management plan
Partially revisedSales Target2027/3 5,073 / 2028/3 5,966 / 2029/3 Not disclosed → 2027/3 5,135 / 2028/3 6,069 / 2029/3 7,029（2027/3 +1.2% (calculated value) / 2028/3 +1.7% (calculated value) / 2029/3 Not disclosed）
Operating profit target2027/3 1,112 / 2028/3 1,386 / 2029/3 Not disclosed → 2027/3 1,452 / 2028/3 1,730 / 2029/3 1,951（2027/3 +30.6% (calculated value) / 2028/3 +24.8% (calculated value) / 2029/3 Not disclosed）
Operating profit margin target2027/3 21.9 / 2028/3 23.2 / 2029/3 Not disclosed → 2027/3 28.3 / 2028/3 28.5 / 2029/3 27.8
Net income target2027/3 843 / 2028/3 1,033 / 2029/3 Not disclosed → 2027/3 1,133 / 2028/3 1,339 / 2029/3 1,492（2027/3 +34.4% (calculated value) / 2028/3 +29.6% (calculated value) / 2029/3 Not disclosed）
What happened to the previous planNot disclosed → FY2026/3 actual: sales of ¥4,348 million, operating profit of ¥1,364 million, and net income attributable to owners of the parent of ¥1,099 million
Statements about the use of capital
Payout ratio / DOE policyThe basic policy is to provide stable and consistent returns to shareholders, while also implementing flexible shareholder returns as appropriate. The dividend forecast for the fiscal year ending March 2027 is ¥18.0 per share, with a payout ratio of 12.6%. The applicable period is the forecast for the fiscal year ending March 2027.The payout ratio is the proportion of profit paid out as dividends, while DOE is the ratio of dividends to net assets.
Key initiatives
01Focus on cyber defense
02Strengthening recruitment
03Strengthen sales of the FFRI yarai series
04Other key initiatives
05NICT demonstration project
06シャインテック
07N.F.ラボラトリーズ
Plan assumptionsRevenue growth is expected from an increase in National Security Services projects., Projects requiring profit elimination under the K Program are also scheduled to be carried out in the fiscal year ending March 2027., Personnel expenses are expected to increase as the number of security engineers grows, along with higher recruitment costs from intensified hiring activities.
Segment targetSegment Cybersecurity business / FY2027/3 sales target ¥4,796 million / Profit Target Not disclosed, Segment Security Products / FY2027/3 sales target ¥1,767 million / Profit Target Not disclosed, Segment National Security Service / FY2027/3 sales target ¥2,159 million / Profit Target Not disclosed, Segment Other Security Services / FY2027/3 sales target ¥870 million / Profit Target Not disclosed, Segment Software Development and Testing business / FY2027/3 sales target ¥338 million / Profit Target Not disclosed
Size of the Target MarketMarket Domestic security product market / FY2023 ¥994,208 million / FY2024 ¥1,082,865 million / FY2025 ¥1,179,908 million / Source JNSA Research Committee, “Domestic Information Security Market: FY2024 Survey Report”, Market Domestic security services market / FY2023 ¥672,363 million / FY2024 ¥716,662 million / FY2025 ¥765,954 million / Source JNSA Research Committee, “Domestic Information Security Market: FY2024 Survey Report”
Risks identified by the company
The possibility that defects may arise in products and services
The possibility of losing credibility as a result of cyberattacks or other incidents
The possibility of being unable to respond to technological innovation or obsolescence
Changes in the business environment
Reason for revision or withdrawal
The plan calls for revenue and profit growth, with National Security Services as the growth driver. The company will continue expanding its workforce, primarily security engineers, to capture demand.
| Item | Details |
|---|---|
| Plan name | Medium-Term Management Plan (fiscal years ending March 2027 to March 2029) |
| Plan period | Fiscal years ending March 2027 to March 2029 |
| Progress against the plan | Partially revised |
| Sales Target | 2027/3 5,073 / 2028/3 5,966 / 2029/3 Not disclosed → 2027/3 5,135 / 2028/3 6,069 / 2029/3 7,029（2027/3 +1.2% (calculated value) / 2028/3 +1.7% (calculated value) / 2029/3 Not disclosed） |
| Operating profit target | 2027/3 1,112 / 2028/3 1,386 / 2029/3 Not disclosed → 2027/3 1,452 / 2028/3 1,730 / 2029/3 1,951（2027/3 +30.6% (calculated value) / 2028/3 +24.8% (calculated value) / 2029/3 Not disclosed） |
| Operating profit margin target | 2027/3 21.9 / 2028/3 23.2 / 2029/3 Not disclosed → 2027/3 28.3 / 2028/3 28.5 / 2029/3 27.8 |
| Net income target | 2027/3 843 / 2028/3 1,033 / 2029/3 Not disclosed → 2027/3 1,133 / 2028/3 1,339 / 2029/3 1,492（2027/3 +34.4% (calculated value) / 2028/3 +29.6% (calculated value) / 2029/3 Not disclosed） |
| Payout ratio / DOE policy | The basic policy is to provide stable and consistent returns to shareholders, while also implementing flexible shareholder returns as appropriate. The dividend forecast for the fiscal year ending March 2027 is ¥18.0 per share, with a payout ratio of 12.6%. The applicable period is the forecast for the fiscal year ending March 2027. |
| Segment target | Segment Cybersecurity business / FY2027/3 sales target ¥4,796 million / Profit Target Not disclosed, Segment Security Products / FY2027/3 sales target ¥1,767 million / Profit Target Not disclosed, Segment National Security Service / FY2027/3 sales target ¥2,159 million / Profit Target Not disclosed, Segment Other Security Services / FY2027/3 sales target ¥870 million / Profit Target Not disclosed, Segment Software Development and Testing business / FY2027/3 sales target ¥338 million / Profit Target Not disclosed |
| Plan assumptions | Revenue growth is expected from an increase in National Security Services projects., Projects requiring profit elimination under the K Program are also scheduled to be carried out in the fiscal year ending March 2027., Personnel expenses are expected to increase as the number of security engineers grows, along with higher recruitment costs from intensified hiring activities. |
| Key initiatives | Focus on cyber defense, Strengthening recruitment, Strengthen sales of the FFRI yarai series, Other key initiatives, NICT demonstration project, シャインテック, N.F.ラボラトリーズ |
| Results under the previous plan | Not disclosed → FY2026/3 actual: sales of ¥4,348 million, operating profit of ¥1,364 million, and net income attributable to owners of the parent of ¥1,099 million |
| Reason for revision or withdrawal | The plan calls for revenue and profit growth, with National Security Services as the growth driver. The company will continue expanding its workforce, primarily security engineers, to capture demand. |
| Size of the Target Market | Market Domestic security product market / FY2023 ¥994,208 million / FY2024 ¥1,082,865 million / FY2025 ¥1,179,908 million / Source JNSA Research Committee, “Domestic Information Security Market: FY2024 Survey Report”, Market Domestic security services market / FY2023 ¥672,363 million / FY2024 ¥716,662 million / FY2025 ¥765,954 million / Source JNSA Research Committee, “Domestic Information Security Market: FY2024 Survey Report” |
| Risks identified | The possibility that defects may arise in products and services, The possibility of losing credibility as a result of cyberattacks or other incidents, The possibility of being unable to respond to technological innovation or obsolescence, Changes in the business environment |
| Publication date | June 2026 (exact day not specified) |
Items this document does not state (9)
ROE targetROIC targetTreasury share acquisition policyCost of capitalSelf-assessment of PBR and share priceTotal investment planInvestment amount by sectorNon-financial targetsDate 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.To capture demand by using the increase in National Security Services projects as a growth driver and expanding the workforce, primarily security engineers.
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.