Worth reading
58In 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
240
million yen (amount of downward revision to full-year operating income forecast)Wording
Conditional
How definitive the wording is.Contents of this document
Earnings presentation materialsThird quarter of the fiscal year ending December 20268 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥16,504 million+21.3%
Operating profit¥200 million-32.4%
Ordinary income¥249 million-31.3%
Net income¥155 million-34.0%
Full-year earnings forecast
Net Sales
¥21,000 million
Operating profit
¥210 million
Ordinary income
¥270 million
Profit attributable to owners of the parent
¥170 million
EBITDA
¥300 million
ROIC
6.9 %
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 Sales78.6
Operating profit95.5
Ordinary income92.5
Profit attributable to owners of the parent91.6
EBITDA87.5
Product & Services stock revenue74.4
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
Net sales are expected to exceed the previous forecast, while profit at each stage is expected to fall below the previous forecast.Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
Full-year operating profit forecast vs. previous forecast
Software Sales and Solutions7
Consulting and Integration14
Products and Services-250
Document management applications-300
Other products50
Corporate Expenses-11
Total-240
Consolidated revenue
Strong sales of Red Hat and Elastic-related products2,899
Consolidated operating profit
Declining revenue from document management applications and rising SG&A expenses-96
New initiatives
- Gluegent Gate CIAM B2B service launched in August 2026
- Deployment and continued development of AI agent functionality for Gluegent Flow
- Expansion of shareholder benefits
Key KPIsA metric the company considers important as a management benchmark.
- Product & Services stock revenue¥3,014 million
- Recurring revenue ratio80.1 %
- Progress against the full-year forecast for stock revenue from Products & Services74.4 %
- Gluegent Flow contract renewal rate99.52 %
- Gluegent Flow ARRYear on year against the same period last year+32.4%
- Gluegent Gate ARRYear on year against the same period last year+10.4%
- Total ARR for the Gluegent series¥927 millionYear on year against the same period last year+19.0%
Segment results
Products and Services
Net Sales
¥3,764 million+3.8%
Operating profit
¥497 million-3.9%
Consulting and Integration
Net Sales
¥2,440 million-7.8%
Operating profit
¥217 million-29.3%
Software Sales and Solutions
Net Sales
¥10,307 million+40.4%
Operating profit
¥108 million+102.4%
Number of employees
Number of Employees544 people
Record date31 December 2025
Annual Dividend
Annual dividend per share¥5
Payout ratio
Fiscal year ending December 2027 and beyondAt least 30%
| Item | Details |
|---|---|
| Document type | Earnings presentation materials |
| Fiscal Period Covered | Third quarter of the fiscal year ending December 2026 |
| Net Sales | ¥16,504 million (YoY +21.3%) |
| Operating profit | ¥200 million (YoY -32.4%) |
| Ordinary income | ¥249 million (YoY -31.3%) |
| Net income | ¥155 million (YoY -34.0%) |
| Full-year earnings forecast | Net Sales ¥21,000 million / Operating profit ¥210 million / Ordinary income ¥270 million / Profit attributable to owners of the parent ¥170 million / EBITDA ¥300 million / ROIC 6.9 % |
| Progress against full-year forecast | Net Sales 78.6 / Operating profit 95.5 / Ordinary income 92.5 / Profit attributable to owners of the parent 91.6 / EBITDA 87.5 / Product & Services stock revenue 74.4 |
| Self-assessment against the plan | Net sales are expected to exceed the previous forecast, while profit at each stage is expected to fall below the previous forecast. |
| Segment results | Products and Services Net Sales ¥3,764 million (YoY +3.8%) / Operating profit ¥497 million (YoY -3.9%) / Consulting and Integration Net Sales ¥2,440 million (YoY -7.8%) / Operating profit ¥217 million (YoY -29.3%) / Software Sales and Solutions Net Sales ¥10,307 million (YoY +40.4%) / Operating profit ¥108 million (YoY +102.4%) |
| Breakdown of Factors Affecting the Change | Full-year operating profit forecast vs. previous forecast Software Sales and Solutions 7 / Consulting and Integration 14 / Products and Services -250 / Document management applications -300 / Other products 50 / Corporate Expenses -11 / Total -240 / Consolidated revenue Strong sales of Red Hat and Elastic-related products 2,899 / Consolidated operating profit Declining revenue from document management applications and rising SG&A expenses -96 |
| Key KPIs | Indicator name Product & Services stock revenue / Value ¥3,014 million / Year on year against the same period last year Not disclosed, Indicator name Recurring revenue ratio / Value 80.1 % / Year on year against the same period last year Not disclosed, Indicator name Progress against the full-year forecast for stock revenue from Products & Services / Value 74.4 % / Year on year against the same period last year Not disclosed, Indicator name Gluegent Flow contract renewal rate / Value 99.52 % / Year on year against the same period last year Not disclosed, Indicator name Gluegent Flow ARR / Value Not disclosed / Year on year against the same period last year 32.4, Indicator name Gluegent Gate ARR / Value Not disclosed / Year on year against the same period last year 10.4, Indicator name Total ARR for the Gluegent series / Value ¥927 million / Year on year against the same period last year ¥19 million |
| Number of employees | Number of Employees 544 people / Record date 31 December 2025 / Changes and hiring plans during the period Not disclosed |
| Annual Dividend | Annual dividend per share ¥5 / Interim and Year-End Breakdown Not disclosed |
| Payout ratio | Fiscal year ending December 2027 and beyond At least 30% |
| New initiatives | Gluegent Gate CIAM B2B service launched in August 2026, Deployment and continued development of AI agent functionality for Gluegent Flow, Expansion of shareholder benefits |
Items this document does not state (15)
Gross Profit MarginOperating profit marginSelling, general and administrative expensesResults for the three months of the current quarterUnit price and quantity metricsNumber 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.The net sales forecast was revised upward because product sales in Software Sales & Solutions performed strongly. The profit forecast was revised downward because sales of the document management application fell short of plan, due in part to changes in the revenue structure associated with the shift to a subscription model. The decline in profit for the nine months ended December was attributed to the inability to absorb the increase in selling, general and administrative expenses because of the decrease in revenue from the document management application.
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.