Komori
System Research (3771) · RiskMaterialised

Risks of development delays, cost increases, and market fluctuations for software packages

First written in FY2016. 15 of 35 entries say "Mitigated", first in FY2017-Q1. Latest entry: 2026-10-28.

35entries
11years
2from disclosures
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How it moved
ProgressHeldSoftenedWorseMitigatedFY2019-Q3 – FY2020WorsenedFY2021-Q1 – FY2022-Q2MitigatedFY2024-Q1 – FY20252016: 320162017: 420172018: 420182019: 320192020: 420202021: 420212022: 420222023: 320232024: 120242025: 220252026: 32026
Same theme, other companies
Sluggish Package SalesA theme 4 companies write about · 5 as a headwind · 0 as a tailwind

System Research moved to the "Worse" side of this theme in 2026.

0 other companies' latest entry also says "Materialised".

Ridges = years it wrote progress, valleys = years it wrote worse. Most hopeful companies at the back. Drag to turn, scroll to zoom, right-drag to pan. On a phone, two fingers turn and pinch to zoom; one finger scrolls the page.
Full recordFilings, disclosures and news, newest first
  1. 2026-10-28MaterialisedEarnings

    「ソフトウエアプロダクト業務におきましては、中小企業向けパッケージソフトの売上が伸び悩んだことにより、売上高は180百万円(前年同期比4.8%減)となりました。」

    中小企業向けパッケージソフトの販売面のリスクが、前年同期比4.8%減の実績として継続して表れている。
  2. FY2026MaterialisedAnnual report

    「In the software product business, sales were ¥354 million, down 15.9% year on year, as sales of package software for small and medium-sized enterprises stagnated」

    The sales risk associated with package software for small and medium-sized enterprises materialized in actual results as a 15.9% year-on-year decline in revenue.
  3. 2026-05-11MaterialisedEarnings

    「ソフトウエアプロダクト業務におきましては、中小企業向けパッケージソフトの売上が伸び悩んだことにより354百万円(前年同期比15.9%減)となり、」

    パッケージソフト販売面のリスクが、通期売上高の前年同期比15.9%減として引き続き実績に表れた。
  4. FY2026-H1MaterialisedAnnual report

    「Revenue was ¥189 million, down 11.8% year on year, because sales of packaged software for small and medium-sized businesses remained sluggish.」

    The sales risk associated with package software materialized in actual results as an 11.8% year-on-year decline in revenue from products for small and medium-sized enterprises.
  5. FY2025MitigatedAnnual report

    「Revenue from the software products business was ¥421 million, up 18.6% year on year, mainly because sales increased for “CTI Connectel,” a call-center system.」

    The recovery in software package sales has continued, driven in part by higher CTI Connectel sales.
  6. FY2024-Q3MitigatedAnnual report

    「Revenue from the software products business, including packaged software sales, was ¥269 million, up 14.6% year on year, due to special demand for systems supporting the introduction of the invoice system and mandatory electronic preservation of books and records.」

    Although package software sales continued to stagnate, revenue increased 14.6% year on year due to special demand related to regulatory changes, and sales risk has recently declined.
  7. FY2024-Q2MitigatedAnnual report

    「Revenue was ¥180 million, up 16.0% year on year, mainly because sales increased for “Simplex,” sales and customer management software for mail-order businesses.」

    Higher Simplex sales were cited as a driver of the recovery in software product sales, and business revenue increased 16.0% year on year. Sales risk has recently declined.
  8. FY2024-Q1MitigatedAnnual report

    「Revenue from the software products business, including packaged software sales, was ¥80 million, up 34.9% year on year, mainly because sales increased for “Simplex,” sales and customer management software for mail-order businesses.」

    While package software sales continued to stagnate, revenue from the software product business increased 34.9% year on year due in part to higher Simplex sales, and sales risk has recently declined.
  9. FY2023-Q3WorsenedAnnual report

    「Revenue from the software products business, including packaged software sales, was ¥235 million, down 2.7% year on year.」

    The sales risk associated with package software and other products resurfaced as a 2.7% year-on-year decline in revenue. The disclosure indicates that the recovery in sales following the reversal of special demand has not taken hold.
  10. FY2023-Q2MitigatedAnnual report

    「Revenue from the software products business was ¥155 million, up 0.5% year on year, despite sluggish packaged software sales.」

    While package software sales continued to be viewed as stagnant, revenue increased 0.5% year on year, temporarily halting the deterioration in sales from the 17.5% year-on-year decline in FY2023-Q1.
  11. FY2023-Q1WorsenedAnnual report

    「Revenue from the software products business was ¥59 million, down 17.5% year on year, as sales of packaged software remained sluggish.」

    The market and sales risk associated with new package software sales materialized as a 17.5% year-on-year decline in revenue.
  12. FY2022WorsenedAnnual report

    「Revenue from the software products business was ¥316 million, down 6.9% year on year, as new sales of packaged software and other products remained sluggish.」

    Revenue from the software product business declined 6.9% year on year due to stagnation in new sales of package software and other products.
  13. FY2022-Q3MitigatedAnnual report

    「Revenue from the software products business, including packaged software sales, was ¥241 million, up 0.7% year on year.」

    Software product sales increased 0.7% year on year, with the downward trend in sales following the reversal of special demand turning into a slight increase on a cumulative basis for the current quarter.
  14. FY2022-Q2WorsenedAnnual report

    「Revenue from the software products business was ¥154 million, down 3.4% year on year, as sales of packaged software remained sluggish.」

    Package software sales continued to stagnate, and revenue from the software product business declined 3.4% year on year.
  15. FY2022-Q1WorsenedAnnual report

    「Revenue from the software products business was ¥72 million, down 3.3% year on year, as sales of packaged software remained sluggish.」

    Package software sales continued to stagnate, and revenue from the software product business declined 3.3% year on year.
  16. FY2021WorsenedAnnual report

    「Revenue from the software products business was ¥339 million, down 41.7% year on year, because of the absence of the previous year's surge in demand for consumption tax increase-compliant versions.」

    The decline in software product sales following the reversal of special demand for versions adapted to the consumption tax increase widened to 41.7% year on year.
  17. FY2021-Q3WorsenedAnnual report

    「Revenue from the software products business was ¥239 million, down 48.0% year on year, because of the absence of the previous year's surge in demand for consumption tax increase-compliant versions.」

    The decline in software product sales following the reversal of special demand for versions adapted to the consumption tax increase widened to 48.0% year on year, and sales risk worsened.
  18. FY2021-Q2WorsenedAnnual report

    「Revenue from the software products business was ¥160 million, down 47.5% year on year, a substantial decline due to the absence of the previous year's surge in demand for consumption tax increase-compliant versions.」

    The decline in software product sales following the reversal of special demand for versions adapted to the consumption tax increase widened to 47.5% year on year, and market and sales risks worsened.
  19. FY2021-Q1MaterialisedAnnual report

    「Revenue from the software products business was ¥75 million, down 30.4% year on year, partly because of the absence of the surge in demand for consumption tax increase-compliant versions.」

    The sales risk associated with package software products materialized in actual results as a 30.4% year-on-year decline following the reversal of special demand.
  20. FY2020MitigatedAnnual report

    「Revenue from the software products business was ¥583 million, up 29.0% year on year, mainly because sales volumes increased for consumption tax increase-compliant versions of packaged software such as “BIG Payroll Neo” and “BIG Financial Accounting Neo.”」

    Package software sales increased 29.0% year on year, and the recent risk of sales stagnation has declined, according to the disclosure.
  21. FY2020-Q3MitigatedAnnual report

    「Sales were ¥461 million, up 61.1% year on year, mainly because sales volumes increased for packaged software such as “BIG Payroll Neo” and “BIG Financial Accounting Neo.”」

    Package software unit sales increased, driving a 61.1% year-on-year increase in revenue, so market volatility risk on the sales side has recently declined.
  22. FY2020-Q2MitigatedAnnual report

    「Sales were ¥305 million, up 55.6% year on year, mainly because sales volumes increased for consumption tax increase-compliant versions of packaged software such as “BIG Payroll Neo” and “BIG Financial Accounting Neo.”」

    Revenue from the software product business increased 55.6% year on year due to higher unit sales of versions adapted to the consumption tax increase, and sales risk has recently declined.
  23. FY2019MitigatedAnnual report

    「In software product operations, revenue was ¥452.260 million, up 23.3% year on year, driven by sales of Simplex, a next-generation mail-order system, and WArm+, a browser-based CRM solution.」

    Software product sales increased 23.3% year on year, and the recovery in sales progressed.
  24. FY2019-Q3MitigatedAnnual report

    「Revenue was ¥286.344 million, up 4.8% year on year, driven by sales of Simplex, a next-generation mail-order system, and WArm+, a browser-based CRM solution.」

    Software product sales increased 4.8% year on year, an acceleration from the 0.2% increase in the previous quarter. Sales risk has recently declined.
  25. FY2019-Q2RestatedAnnual report

    「Revenue was ¥196.592 million, up 0.2% year on year, driven by sales of Simplex, a next-generation mail-order system, and WArm+, a browser-based CRM solution.」

    Sales of package software-related products increased 0.2% year on year, slightly exceeding the previous year's level on the sales side.
  26. FY2019-Q1MitigatedAnnual report

    「In the software product business, sales recovered, driven by CTI (computer telephony integration)-related products, which attracted many inquiries from mail-order operators, and revenue was ¥95.919 million, up 4.9% year on year.」

    Sales of CTI-related products and others increased 4.9% year on year, and the recovery in package software product sales has continued.
  27. FY2018MaterialisedAnnual report

    「In the software product business, sales were ¥366.654 million, down 6.8% year on year, as package software sales stagnated.」

    The sales risk associated with package software materialized in the current fiscal year as a 6.8% year-on-year decline in revenue.
  28. FY2018-Q3MaterialisedAnnual report

    「In the software product business, sales were ¥273.203 million, down 1.2% year on year, as package software sales stagnated.」

    The stagnation in package software sales resurfaced, and cumulative revenue for the first three quarters declined 1.2% year on year.
  29. FY2018-Q2MitigatedAnnual report

    「In software product operations, sales recovered for CTI (computer telephony integration)-related products, which are in strong demand among mail-order operators, and revenue was ¥196.042 million, up 4.6% year on year.」

    The recovery in software product sales continued, with sales up 4.6% year on year, so market volatility risk on the sales side has recently declined.
  30. FY2018-Q1MitigatedAnnual report

    「In software product operations, sales recovered for CTI (computer telephony integration)-related products, which are in strong demand among mail-order operators, and revenue was ¥91.412 million, up 3.1% year on year.」

    Software product sales recovered, rising 3.1% year on year, so market volatility risk on the sales side has recently declined.
  31. FY2017MaterialisedAnnual report

    「In the software products business, package software sales slowed, resulting in revenue of ¥393,760 thousand, down 0.6% year on year.」

    The package software market and sales risk materialized as a 0.6% year-on-year decline in revenue in FY2017.
  32. FY2017-Q3RestatedAnnual report

    「In the software products business, the slowdown in package software sales eased, and sales for Simplex, a core next-generation mail-order package, among other core products, were recovering. Revenue was ¥276,524 thousand, up 6.8% year on year.」

    The company continues to recognize that the slowdown in package software sales eased and that sales, including those of core products, are recovering.
  33. FY2017-Q2RestatedAnnual report

    「In the software products business, the slowdown in package software sales eased, and sales recovered for Simplex, a core next-generation mail-order package, among other products. Revenue was ¥187,260 thousand, up 9.5% year on year.」

    The company continues to recognize that the slowdown in package software sales eased and that sales, including those of core products, recovered.
  34. FY2017-Q1MitigatedAnnual report

    「In the software products business, the slowdown in package software sales eased, and sales recovered for Simplex, a core next-generation mail-order package, among other products. Revenue was ¥88,639 thousand, up 20.1% year on year.」

    The company states that the slowdown in package software sales eased and sales, including those of core products, recovered. The sales risk from market fluctuations has consequently diminished.
  35. FY2016First statedAnnual report

    「Software package development may be delayed, incur higher costs or encounter quality and accuracy problems due to unforeseen circumstances exceeding expectations, such as upgrades to operating systems and development tools or the termination of product support by vendors.」

    The company identifies updates to operating systems and development tools, the end of support, and market trends as risk factors for the package business.
Moved together

"Addressing highly specialized business areas" moved the same way as this thread, in the same document, in 23 of its 35 moves.

232017161413★123456
  1. ★This thread
  2. 1Addressing highly specialized business areas23×
  3. 2Development of Cloud Services and E-commerce-Related Business20×
  4. 3Increases in Net Sales and Profit and Improvement in ROE17×
  5. 4Recovery in the Information Services Industry and Growth in Software Demand16×
  6. 5Recurring Orders and Repeat Transactions from Existing Customers14×
  7. 6High SE Utilization and Improved Gross Margin13×

★ is this thread; numbers match the list above. The number on a line is how many documents both moved the same way in; lines between the other threads count the documents they moved together in too. Threads that move together often sit closer.

When this could move next
System Research's next results are scheduled for 2026-10-28. Read the earnings preview It last moved in the Earnings of 2026-10-28: "Materialised".
News
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