Worth reading
61In focus
0–100. This measures how worthwhile something is to read, not how good or bad the company is.Direction
Improvement
Direction inferred from the company’s description.Scale
11220
¥ million (revenue for the fiscal year ended March 2026)Wording
Conditional
How definitive the wording is.Contents of this document
Earnings presentationFiscal year ending March 20269 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales11,220 million yen+9.0%
Operating profit1,879 million yen+4.8%
Ordinary income2,062 million yen+8.9%
Net income1,509 million yen+12.3%
Selling, general and administrative expenses¥1,446 million SG&A expenses as a percentage of revenue: not disclosed
Operating profit margin16.8% (17.4% in the same period of the previous year, down 0.6 percentage points year on year)
Results for the three months of the current quarterJanuary-March 2026: revenue ¥3,151 million, operating profit ¥515 million, operating margin 16.3%
Full-year earnings forecast
Net Sales
11,800 million yen
Cost of sales
8,160 million yen
Gross profit
3,640 million yen
Selling, General and Administrative Expenses
1,660 million yen
Operating profit
1,980 million yen
Ordinary income
2,300 million yen
Net income for the current fiscal year
1,575 million yen
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。Achievement rate against the initial forecast for the fiscal year ended March 2026: revenue 104.9%, cost of sales 105.7%, gross profit 103.0%, SG&A expenses 104.1%, operating profit 102.2%, ordinary profit 102.6%, net income 108.2%
What the company explained in this material
Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
- Outsourcing costs¥4,115 million, up 9.2% year on year
- Procurement¥607 million, up 77.5% year on year
- Research and development costs¥217 million, up 43.8% year on year
- R&D subsidy income¥109 million, up 179.2% year on year
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
The Company expects a demand environment similar to the previous fiscal year and will focus on the social infrastructure field, led by government agencies. The assumptions include an increase in employee numbers, regular salary increases and base pay increases, outsourcing costs, R&D expenses and the statutory effective tax rate, but several specific assumptions are not disclosed.New initiatives
- Promote alliances with research institutions at universities, government and companies, and with hardware vendors
- Strengthen R&D in space, robotics, edge AI and quantum computing
- Transition to a new development and governance model in which AI agents execute software development processes
- Strengthen technical education focused on AI, design thinking, data science, security and cloud computing
- Participate in the development of lunar resource exploration equipment under JAXA's Space Strategy Fund program
- Develop middleware for quantum computers with KDDI and others
Key KPIsA metric the company considers important as a management benchmark.
- Orders received14,023 million yenYear on year against the same period last year130.0%
- Order backlog9,065 million yenYear on year against the same period last year144.8%
- Equity ratio82.9 %Year on year against the same period last yearUp 3.7 percentage points year on year
Segment results
- Mobile NetworkNet Sales¥740 millionYear on year against the same period last year80.3%
- InternetNet Sales¥1,784 millionYear on year against the same period last year133.5%
- Social Infrastructure SystemsNet Sales¥5,537 millionYear on year against the same period last year111.3%
- Advanced Space SystemsNet Sales¥3,158 millionYear on year against the same period last year103.1%
Financial targets
Actual equity ratio: 82.9% (79.2% in the previous fiscal year). Targets for ROE, ROIC and the D/E ratio are not disclosed.Orders received and order backlog
Orders received: ¥14,023 million; order backlog: ¥9,065 million. Of the order backlog, ¥6,658 million is expected to contribute to revenue in the fiscal year ending March 2027, and ¥2,406 million from the fiscal year ending March 2028 onward.Annual Dividend
The forecast for the fiscal year ending March 2027 is ¥62 per share. The interim and year-end breakdown is not disclosed.Payout ratio
A payout ratio of approximately 40% is used as a guideline. The forecast for the fiscal year ending March 2027 is not disclosed.| Item | Details |
|---|---|
| Document type | Earnings presentation |
| Fiscal Period Covered | Fiscal year ending March 2026 |
| Net Sales | 11,220 million yen (YoY +9.0%) |
| Operating profit | 1,879 million yen (YoY +4.8%) |
| Ordinary income | 2,062 million yen (YoY +8.9%) |
| Net income | 1,509 million yen (YoY +12.3%) |
| Operating profit margin | 16.8% (17.4% in the same period of the previous year, down 0.6 percentage points year on year) |
| Selling, general and administrative expenses | ¥1,446 million (SG&A expenses as a percentage of revenue: not disclosed) |
| Results for the three months of the current quarter | January-March 2026: revenue ¥3,151 million, operating profit ¥515 million, operating margin 16.3% |
| Full-year earnings forecast | Net Sales 11,800 million yen / Cost of sales 8,160 million yen / Gross profit 3,640 million yen / Selling, General and Administrative Expenses 1,660 million yen / Operating profit 1,980 million yen / Ordinary income 2,300 million yen / Net income for the current fiscal year 1,575 million yen |
| Progress against full-year forecast | Achievement rate against the initial forecast for the fiscal year ended March 2026: revenue 104.9%, cost of sales 105.7%, gross profit 103.0%, SG&A expenses 104.1%, operating profit 102.2%, ordinary profit 102.6%, net income 108.2% |
| Segment results | Segment Mobile Network / Net Sales ¥740 million / Year on year against the same period last year 80.3%, Segment Internet / Net Sales ¥1,784 million / Year on year against the same period last year 133.5%, Segment Social Infrastructure Systems / Net Sales ¥5,537 million / Year on year against the same period last year 111.3%, Segment Advanced Space Systems / Net Sales ¥3,158 million / Year on year against the same period last year 103.1% |
| Breakdown of Factors Affecting the Change | Factors Outsourcing costs / Amount ¥4,115 million, up 9.2% year on year, Factors Procurement / Amount ¥607 million, up 77.5% year on year, Factors Research and development costs / Amount ¥217 million, up 43.8% year on year, Factors R&D subsidy income / Amount ¥109 million, up 179.2% year on year |
| Key KPIs | Indicator Orders received / Value 14,023 million yen / Year on year against the same period last year 130.0%, Indicator Order backlog / Value 9,065 million yen / Year on year against the same period last year 144.8%, Indicator Equity ratio / Value 82.9 % / Year on year against the same period last year Up 3.7 percentage points year on year |
| Assumptions Underlying the Business Outlook | The Company expects a demand environment similar to the previous fiscal year and will focus on the social infrastructure field, led by government agencies. The assumptions include an increase in employee numbers, regular salary increases and base pay increases, outsourcing costs, R&D expenses and the statutory effective tax rate, but several specific assumptions are not disclosed. |
| Financial targets | Actual equity ratio: 82.9% (79.2% in the previous fiscal year). Targets for ROE, ROIC and the D/E ratio are not disclosed. |
| Annual Dividend | The forecast for the fiscal year ending March 2027 is ¥62 per share. The interim and year-end breakdown is not disclosed. |
| Payout ratio | A payout ratio of approximately 40% is used as a guideline. The forecast for the fiscal year ending March 2027 is not disclosed. |
| Orders received and order backlog | Orders received: ¥14,023 million; order backlog: ¥9,065 million. Of the order backlog, ¥6,658 million is expected to contribute to revenue in the fiscal year ending March 2027, and ¥2,406 million from the fiscal year ending March 2028 onward. |
| New initiatives | Promote alliances with research institutions at universities, government and companies, and with hardware vendors, Strengthen R&D in space, robotics, edge AI and quantum computing, Transition to a new development and governance model in which AI agents execute software development processes, Strengthen technical education focused on AI, design thinking, data science, security and cloud computing, Participate in the development of lunar resource exploration equipment under JAXA's Space Strategy Fund program, Develop middleware for quantum computers with KDDI and others |
Items this document does not state (11)
Gross Profit MarginSelf-assessment against the planUnit price and quantity metricsNumber of stores and locationsNumber of employeesRisk amount incorporated into the outlookMedium-term management plan targetsAcquisition of treasury sharesCapital expendituresMarket 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.Growth was driven by contactless IC-related business, DX services for private-sector companies, projects for government agencies including in the medical, environmental and judicial fields, and development in autonomous vehicle operation and space and astronomy. Orders received increased, particularly for projects for government agencies and space-related projects. Cost of sales and SG&A expenses were affected by higher personnel and outsourcing costs, while net income was affected by tax credits under the wage increase promotion tax regime.
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