Worth reading
72In 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
24.5
Year-on-year change in revenue (%)Wording
Conditional
How definitive the wording is.Results for this period
Full year1 September 2025–31 August 2026ConsolidatedJapanese GAAPNet Sales161,600¥ millionYear on year +24.5%Progress 85.1%
Operating profit17,445¥ millionYear on year +11.6%
Ordinary income13,320¥ millionYear on year -12.3%
Net income attributable to owners of the parent7,430¥ millionYear on year -16.8%
The width of the band at each stage is based on revenue. The narrower it becomes toward the bottom, the smaller the proportion of revenue that remains as profit. The dotted outline is the full-year forecast and the band inside it is the result for this period. The progress rate is the result divided by the forecast.
Net income per share¥28.72
Operating Margin10.8％
Financial position at period-end
Total assets109,685¥ million
of which net assets 42,197 ¥ millionEquity ratio 37.9%vs. prior year-end -14.8pt
塗りつぶした部分が自己資本比率です。総資産のうち、返済のいらない自前の資金がどれだけかを表します。The thin vertical line indicates the level at the end of the previous fiscal year.
Cash inflows and outflows
Operating+13,723
Investment-22,376
Financials+15,967
Net change+7,314
Stacked from zero: upward is an increase in cash, downward a decrease (in ¥ million).The net change represented by the dotted line is the total of three items, calculated from figures provided by the company.
Cash and cash equivalents at end of period¥30,935 million
Segment revenueConsulting ¥19,263 million (YoY +30.3%), Development ¥65,107 million (YoY +35.8%), Testing ¥64,382 million (YoY +11.7%), BPaaS ¥5,157 million (YoY +35.1%), Investment platform ¥638 million, Other ¥12,218 million (YoY +22.2%)
Segment profitConsulting ¥5,449 million (YoY +26.9%), Development ¥5,838 million (YoY +16.0%), Testing ¥16,897 million (YoY +6.1%), BPaaS ¥801 million (YoY +76.0%), Investment platform ¥-361 million, Other ¥1,503 million (YoY +43.7%)
Outlook and shareholder returns
Full-year earnings forecast
Net Sales¥190,000 million (YoY +17.6%)
Operating profitNot disclosed
Ordinary incomeNot disclosed
Net incomeNot disclosed
Adjusted operating profit¥25,000 million (YoY +23.4%)
Adjusted net income attributable to owners of the parent¥16,500 million (YoY +63.0%)
Annual Dividend Forecast¥4.53 → ¥5.2（+14.9%）
Payout ratio15.8% (fiscal year ended August 2026)
Factors Behind Changes in Business Performance
Revenue increased due to strengthened sales activities, the consolidation of 株式会社ニッセイコム and the promotion of AI utilization. On the other hand, increased hiring costs, a temporary decline in utilization as sales resources were concentrated on securing large future projects, and higher equity-method investment losses weighed on profit.
Disclosure regarding the going concern assumption
Not applicable.
Change in accounting policy
基準改正に伴う変更 Noそれ以外の変更 No見積りの変更 No修正再表示 No
Changes in the scope of consolidationNew 2 companies (株式会社ニッセイコム, STEP CO.,LTD.) / Excluded 0 companies
Material subsequent eventsOn 15 October 2026, the Company decided to establish a limited partnership with 株式会社SHIFTグロース・キャピタル as the general partner. It entered into a basic agreement with TOKYO GAS CO.,LTD. to make a combined investment of ¥15 billion, and the fund is scheduled to be formed on 1 December 2026.
Impairment loss¥556 million: goodwill and operating assets of the test segment and certain other consolidated subsidiaries
Breakdown of extraordinary income (loss)Extraordinary income Gain on changes in equity interests ¥17 million, Gain on sale of investment securities ¥412 million / Extraordinary loss Impairment Losses ¥556 million, Impairment Loss on Investment Securities ¥302 million
Depreciation and amortization¥2,297 million
Availability of Supplementary Financial Results MaterialsYes
Availability of Financial Results BriefingYes (for analysts and institutional investors)
Issued Shares at Period-End267,500,670
Treasury Shares at Period-End11,883,699
| Item | Details |
|---|---|
| Fiscal Period Classification | Full year |
| Accounting standards | Japanese GAAP |
| Consolidated / non-consolidated | Consolidated |
| Period Covered | 1 September 2025–31 August 2026 |
| Net Sales | ¥161,600 million (YoY +24.5%) |
| Operating profit | ¥17,445 million (YoY +11.6%) |
| Ordinary income | ¥13,320 million (YoY -12.3%) |
| Profit attributable to owners of the parent | ¥7,430 million (YoY -16.8%) |
| Net income per share | ¥28.72 |
| Operating Margin | 10.8％ |
| Equity ratio | End of the current fiscal period 37.9 / End of previous period 52.7 |
| Total assets | ¥109,685 million |
| Net assets | ¥42,197 million |
| Cash flows from operating activities | ¥13,723 million |
| Cash flows from investing activities | ¥-22,376 million |
| Cash flows from financing activities | ¥15,967 million |
| Cash and cash equivalents at end of period | ¥30,935 million |
| Full-year earnings forecast | Net Sales ¥190,000 million (YoY +17.6%) / Operating profit Not disclosed / Ordinary income Not disclosed / Net income Not disclosed / Adjusted operating profit ¥25,000 million (YoY +23.4%) / Adjusted net income attributable to owners of the parent ¥16,500 million (YoY +63.0%) |
| Annual Dividend Forecast | ¥4.53 → ¥5.2（+14.9%） |
| Payout ratio | 15.8% (fiscal year ended August 2026) |
| Segment revenue | Consulting ¥19,263 million (YoY +30.3%), Development ¥65,107 million (YoY +35.8%), Testing ¥64,382 million (YoY +11.7%), BPaaS ¥5,157 million (YoY +35.1%), Investment platform ¥638 million, Other ¥12,218 million (YoY +22.2%) |
| Segment profit | Consulting ¥5,449 million (YoY +26.9%), Development ¥5,838 million (YoY +16.0%), Testing ¥16,897 million (YoY +6.1%), BPaaS ¥801 million (YoY +76.0%), Investment platform ¥-361 million, Other ¥1,503 million (YoY +43.7%) |
| Depreciation and amortization | ¥2,297 million |
| Impairment loss | ¥556 million: goodwill and operating assets of the test segment and certain other consolidated subsidiaries |
| Breakdown of extraordinary income (loss) | Extraordinary income Gain on changes in equity interests ¥17 million, Gain on sale of investment securities ¥412 million / Extraordinary loss Impairment Losses ¥556 million, Impairment Loss on Investment Securities ¥302 million |
| Disclosure regarding the going concern assumption | Not applicable. |
| Change in accounting policy | Changes due to revisions to standards No / Other changes No / Change in accounting estimate No / Restatement No |
| Changes in the scope of consolidation | New 2 companies (株式会社ニッセイコム, STEP CO.,LTD.) / Excluded 0 companies |
| Material subsequent events | On 15 October 2026, the Company decided to establish a limited partnership with 株式会社SHIFTグロース・キャピタル as the general partner. It entered into a basic agreement with TOKYO GAS CO.,LTD. to make a combined investment of ¥15 billion, and the fund is scheduled to be formed on 1 December 2026. |
| Availability of Supplementary Financial Results Materials | Yes |
| Availability of Financial Results Briefing | Yes (for analysts and institutional investors) |
| Issued Shares at Period-End | 267,500,670 |
| Treasury Shares at Period-End | 11,883,699 |
| Factors Behind Changes in Business Performance | Revenue increased due to strengthened sales activities, the consolidation of 株式会社ニッセイコム and the promotion of AI utilization. On the other hand, increased hiring costs, a temporary decline in utilization as sales resources were concentrated on securing large future projects, and higher equity-method investment losses weighed on profit. |
Items this document does not state (4)
Revision to Earnings ForecastShareholder Return PolicyRegional salesOrders received and order backlog
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.Revenue increased due to factors including strengthened sales activities and the inclusion of 株式会社ニッセイコム in the scope of consolidation. Operating income did not grow as much as revenue because hiring costs increased as recruitment activities returned to normal, while utilization temporarily deteriorated as sales resources were concentrated on securing large future projects. Below operating income, results were affected by factors including the increase in equity-method investment losses from ¥75 million to ¥3,861 million.
How to read this page
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