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System Research (3771) · FactAdvancedLatest Earnings (2026-10-28): "Restated"

Recovery in the Information Services Industry and Growth in Software Demand

First written in FY2017-Q1. 22 of 38 entries say "Advanced", first in FY2017-Q3. Latest entry: 2026-10-28.

38entries
11years
3from disclosures
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How it moved
ProgressHeldSoftenedWorseAdvancedFY2019-Q3 – FY20202016: 220162017: 420172018: 420182019: 420192020: 420202021: 420212022: 420222023: 320232024: 320242025: 220252026: 42026
Same theme, other companies
Expansion of Japan's Information Services and IT MarketsA theme 34 companies write about · 0 as a headwind · 34 as a tailwind

The whole theme swung hardest in 2020: 3 of 21 companies on the "Worse" side.

14 other companies' latest entry also says "Restated".

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.
Showing 14 of the 34 companies compared. The sentences above are computed from all 34.
Full recordFilings, disclosures and news, newest first
  1. 2026-10-28RestatedEarnings

    「DX(デジタルトランスフォーメーション)技術を活用した業務効率化や企業の基幹システム刷新、生成AIやAgentic AI(一般的にAIエージェントと呼ばれる)の活用拡大、成長分野へのデジタル投資などIT投資需要は依然として旺盛であることを示しております。」

    情報サービス市場について、DX、基幹システム刷新、生成AI・Agentic AIなどを背景とするIT投資需要の旺盛さを再確認している。
  2. FY2026AdvancedAnnual report

    「The software investment plan for March 2026 was up 10.5% year on year, indicating that IT investment demand remains strong, driven by the promotion of DX (digital transformation) to improve operational efficiency and address labor shortages, as well as the renewal of companies' core systems.」

    The information services market is described as continuing to see strong IT investment demand, with software investment plans up 10.5% year on year, supported by DX and the renewal of core systems.
  3. FY2026-H1AdvancedAnnual report

    「According to the Bank of Japan's September 2025 Tankan (Short-Term Economic Survey of Enterprises), the software investment plan for September 2025 was up 12.9% year on year, indicating that corporate IT investment demand remains strong, driven by efforts to address labor shortages through the use of DX (digital transformation) technologies and the renewal of core systems.」

    The market environment for the information services industry is described as remaining strong, with software investment plans up 12.9% year on year and demand for IT investment continuing to be robust.
  4. FY2025AdvancedAnnual report

    「According to the Ministry of Internal Affairs and Communications' "Current Survey of Service Industries," total sales in the information services industry in January 2025 increased 15.4% year on year, marking the 34th consecutive monthly increase. Within this total, sales in the contracted software development industry increased 21.8%. Corporate demand for IT investment remains strong as companies advance reforms to business processes and business models using DX (digital transformation) technologies.」

    Sales in the information services industry increased 15.4% year on year, marking the 34th consecutive monthly increase, while sales in the contracted software development industry increased 21.8%.
  5. FY2025-H1Overall market growth; product declineAnnual report

    「Total sales in the information services industry in August 2024 increased 3.7% year on year. By category, sales of the mainstay "contracted software" increased 6.9%, "software products" declined 10.0%, and "system operation and management services" increased 1.8%. Although results varied by type of business activity, the figures indicate that companies' appetite for IT investment remains strong, including product development to reform operations and expand businesses using DX (digital transformation) technologies and the replacement of legacy systems.」

    Overall sales in the information services industry, contracted software, and system operation and management services increased, while software products declined 10.0% year on year. Despite divergent results among business categories, appetite for IT investment in DX and legacy-system replacement remains strong.
  6. FY2024AdvancedAnnual report

    「Total sales in the information services industry in February 2024 increased 9.3% year on year. Sales of the mainstay "contracted software" increased 10.6% year on year, "software products" increased 10.3%, and "system operation and management services" increased 3.7%. Corporate demand for IT investment remains strong as companies advance reforms to business processes and business models using DX (digital transformation) technologies.」

    Overall sales in the information services industry and all three major categories increased year on year, and the view that corporate IT investment demand remains strong against the backdrop of DX continues.
  7. FY2024-Q3Overall market growth continues; product decline widensAnnual report

    「Total sales in the information services industry in November 2023 increased 4.0% year on year. By category, sales of the mainstay "contracted software" increased 8.1%, "software products" declined 13.5%, and "system operation and management services" increased 0.7%. Although results varied by type of business activity, demand for DX (digital transformation)-related IT investment aimed at addressing labor shortages and reducing and streamlining workloads remained strong.」

    Overall sales in the information services industry continued to increase, as did strong demand for DX-related IT investment, while software products declined 13.5% year on year, widening the divergence among business categories.
  8. FY2024-Q2AdvancedAnnual report

    「Total sales in the information services industry in August 2023 increased 7.7% year on year, marking the 17th consecutive monthly increase. By category, sales of the mainstay "contracted software" increased 10.4%, "software products" declined 2.1%, and "system operation and management services" increased 4.7%. Although companies' appetite for IT investment, particularly investment related to DX (digital transformation), remains strong amid system upgrades, the results varied by type of business activity.」

    Total sales in the information services industry increased 7.7% year on year, marking the 17th consecutive monthly increase. Contracted software and system operation and management services increased, while software products declined, indicating divergent results by business category.
  9. FY2024-Q1AdvancedAnnual report

    「Total sales in the information services industry in May 2023 increased 8.3% year on year, marking the 14th consecutive monthly increase. By category, sales of the mainstay "contracted software" increased 10.9%, "software products" increased 7.2%, and "system operation and management services" increased 3.1%. The figures indicate that companies' appetite for IT investment remains strong, including investment in product development to expand businesses and strengthen competitiveness and business-process reform through DX (digital transformation).」

    Sales in the information services industry increased 8.3% year on year, marking the 14th consecutive monthly increase, and all categories, including contracted software, software products, and system operation and management services, increased.
  10. FY2023-Q3AdvancedAnnual report

    「Total sales in the information services industry in November 2022 increased 7.1% year on year, marking the eighth consecutive monthly increase. By category, sales of the mainstay "contracted software" increased 8.7%, "software products" increased 3.8%, and "system operation and management services" increased 7.1%. Companies continued to transform their business structures in anticipation of living with COVID-19 and invest in product development and DX (digital transformation) to strengthen competitiveness, indicating that appetite for IT investment remains strong.」

    Sales in the information services industry increased 7.1% year on year, marking the eighth consecutive monthly increase, and all categories, including contracted software, software products, and system operation and management services, increased.
  11. FY2023-Q2AdvancedAnnual report

    「Total sales in the information services industry in August 2022 increased 7.3% year on year, marking the fifth consecutive monthly increase. By category, sales of the mainstay "contracted software" increased 5.9%, "software products" increased 18.5%, and "system operation and management services" increased 2.0%. The figures indicate that, despite increasing uncertainty over the outlook, companies' appetite for IT investment, particularly DX (digital transformation) investment aimed at expanding their businesses and strengthening competitiveness, remains strong.」

    Sales in the information services industry increased 7.3% year on year, marking the fifth consecutive monthly increase, and all three categories, contracted software, software products, and system operation and management services, increased.
  12. FY2023-Q1RestatedAnnual report

    「Total sales in the information services industry in May 2022 increased 4.2% year on year, marking the second consecutive monthly increase. By category, sales of the mainstay "contracted software" increased 5.2% and "software products" increased 1.3%, while "system operation and management services" declined 1.9%. The figures indicate that demand for corporate IT investment, particularly investment related to DX (digital transformation), remains strong.」

    Overall sales in the information services industry, contracted software, and software products increased, and the view that corporate IT investment demand, particularly DX-related demand, remains strong continues.
  13. FY2022AdvancedAnnual report

    「Total sales in the information services industry in February 2022 increased 5.8% year on year, marking the 11th consecutive monthly increase. Sales of the mainstay "contracted software" increased 2.3% year on year, "software products" increased 27.8%, and "system operation and management services" increased 0.9%, indicating a recovery from the phase of restrained IT investment during the COVID-19 pandemic.」

    Overall sales in the information services industry and all three major categories increased year on year, indicating a recovery from the phase of restrained IT investment during the COVID-19 pandemic.
  14. FY2022-Q3AdvancedAnnual report

    「Total sales in the information services industry in November 2021 increased 7.6% year on year. By category, sales of the mainstay "contracted software" increased 5.8%, "software products" increased 18.8%, and "system operation and management services" increased 2.0%. The industry appears to have emerged from the phase of restrained IT investment during the COVID-19 pandemic and shifted to a growth trend.」

    Overall sales in the information services industry and all three major categories increased year on year, indicating a shift from restrained IT investment to a growth trend.
  15. FY2022-Q2Market polarizationAnnual report

    「Total sales in the information services industry in August 2021 increased 3.4% year on year. By category, sales of the mainstay "contracted software" increased 6.1%, while "software products" fell 3.7% and "system operation and management services" fell 1.6%. The figures reflect a polarized market, with some companies cautious about IT investment due to the impact of COVID-19 and others actively investing.」

    Overall sales in the information services industry increased 3.4% year on year, but growth in contracted software coexisted with declines in software products and system operation and management services, indicating a polarization in companies' approach to IT investment.
  16. FY2022-Q1AdvancedAnnual report

    「Total sales in the information services industry in May 2021 increased 8.1% year on year, marking the second consecutive monthly increase. By category, sales of the mainstay "contracted software" increased 8.7%, "software products" increased 16.1%, and "system operation and management services" increased 4.8%. The market is on an expansionary trend, driven by investment to build remote-work environments and the continued progress of digital transformation (DX).」

    Sales in the information services industry increased 8.1% year on year, marking the second consecutive monthly increase, and all three categories, contracted software, software products, and system operation and management services, increased. The market is described as being on an expansionary trend, supported by investment in remote work and the progress of DX.
  17. FY2021WorsenedAnnual report

    「Total sales in the information services industry increased 3.3% year on year in January 2021, the first increase in six months, but fell 4.1% year on year in February 2021, declining again after the previous month's increase.」

    The information services industry declined again after a temporary increase, with contracted software, software products, and system operation and management services also declining.
  18. FY2021-Q3WorsenedAnnual report

    「Total sales in the information services industry in November 2020 fell 1.2% year on year, marking the fourth consecutive monthly decline. By category, sales of the mainstay "contracted software" fell 1.4%, "software products" fell 1.3%, and "system operation and management services" increased 0.3%.」

    Total sales across the information services industry fell 1.2% year on year, marking the fourth consecutive monthly decline. Contracted software and software products also declined.
  19. FY2021-Q2WorsenedAnnual report

    「Total sales in the information services industry in August 2020 fell 3.5% year on year, marking the first decline in two months. By category, sales of the mainstay "contracted software" fell 3.0%, "software products" increased 4.0%, and "system operation and management services" declined 2.2%.」

    Total sales in the information services industry fell 3.5% year on year, declining for the first time in two months. Contracted software and system operation and management services also declined.
  20. FY2021-Q1WorsenedAnnual report

    「Total sales in the information services industry in May 2020 declined 4.1% year on year, marking the first decline in 20 months. By category, contracted software declined 6.5% year on year, software products increased 9.0%, and contracted systems and other operations management services declined 1.2%.」

    Total sales across the information services industry declined 4.1% year on year, turning downward for the first time in 20 months. Contracted software and contracted systems and other operations management services also declined.
  21. FY2020AdvancedAnnual report

    「Total sales in the information services industry in February 2020 increased 4.4% year on year, marking 17 consecutive months of growth.」

    Sales in the information services industry increased 4.4% year on year, marking 17 consecutive months of growth.
  22. FY2020-Q3AdvancedAnnual report

    「Total sales in the information services industry in November 2019 increased for the 14th consecutive month year on year, although the monthly increase was modest at 0.1%. By category, contracted software increased 2.9% year on year, while software products declined 9.8% and contracted systems and other operations management services declined 0.6%.」

    The information services industry as a whole posted year-on-year growth for 14 consecutive months. However, the increase was limited to 0.1%, and the major categories other than contracted software declined.
  23. FY2020-Q2AdvancedAnnual report

    「Meanwhile, according to the Ministry of Economy, Trade and Industry's Survey of Selected Service Industries, total sales in the information services industry, to which the group belongs, increased 6.4% year on year in August 2019, marking 11 consecutive months of growth. By category, contracted software increased 4.3% year on year, software products increased 14.6%, and contracted systems and other operations management services increased 1.7%, reflecting corporate IT investment demand driven by business transformation using digital technologies and measures to address the increasingly serious labor shortage.」

    Sales in the information services industry increased 6.4% year on year, marking 11 consecutive months of growth, while contracted software and software products also exceeded the previous year's levels.
  24. FY2020-Q1AdvancedAnnual report

    「Total sales in the information services industry in May 2019 increased 4.2% year on year, marking 8 consecutive months of growth. By category, contracted software increased 5.1% year on year, software products increased 8.0%, and contracted systems and other operations management services declined 1.4%.」

    Total sales across the information services industry increased 4.2% year on year, marking 8 consecutive months of growth. Contracted software and software products also increased.
  25. FY2019AdvancedAnnual report

    「Total sales in the information services industry remained broadly flat in the first half of fiscal 2018, from April through September, but increased 5.8% year on year in October 2018 and continued to rise for 5 consecutive months, reaching a 3.4% year-on-year increase in February 2019.」

    The information services industry recovered from flat performance in the first half, recording year-on-year growth for 5 consecutive months.
  26. FY2019-Q3AdvancedAnnual report

    「Total sales in the information services industry in November 2018 increased 6.0% year on year. Although sales had remained broadly flat during the current period, including months of year-on-year declines, they increased for the second consecutive month following a 5.4% year-on-year increase in October. By category, contracted software increased 3.9% year on year, software products increased 23.4%, and contracted systems and other operations management services increased 2.5%.」

    Sales in the information services industry increased for the second consecutive month following October, rising 6.0% year on year in November. All major business categories also exceeded the previous year's levels.
  27. FY2019-Q2Renewed growth, while contracted software continues to declineAnnual report

    「Total sales in the information services industry in August 2018 increased 1.2% year on year, turning upward again after declining in July. By category, contracted software declined 1.2% year on year, while software products increased 8.8% and contracted systems and other operations management services increased 3.6%.」

    The information services industry as a whole turned from a decline in July to a 1.2% year-on-year increase in August, while contracted software declined 1.2% year on year.
  28. FY2019-Q1Industry-wide recovery, while contracted software continues to declineAnnual report

    「According to the Ministry of Economy, Trade and Industry's Survey of Selected Service Industries, total sales in the information services industry, to which the group belongs, increased 1.0% year on year in May 2018, turning upward after 3 consecutive months of declines. By category, however, contracted software declined 0.9% year on year, while software products increased 5.5% and contracted systems and other operations management services increased 3.4%. Contracted software had declined year on year for 5 consecutive months.」

    The information services industry as a whole turned from 3 consecutive months of declines to a 1.0% year-on-year increase, while core contracted software continued to decline for 5 consecutive months, showing a combination of recovery and weakness.
  29. FY2018WorsenedAnnual report

    「Total sales in the information services industry had increased for 2 consecutive months after declining 3.2% year on year in November 2017, but declined 1.7% year on year again in February 2018. Contracted software declined 4.0% year on year.」

    The information services industry turned down again after a recovery phase, while contracted software declined 4.0% year on year.
  30. FY2018-Q3AdvancedAnnual report

    「Total sales in the information services industry in November 2017 increased 7.7% year on year. Although sales had temporarily declined 0.2% year on year in August 2017, they increased for 3 consecutive months from September. By category, contracted software declined 4.6% year on year, while software products increased 61.4% and contracted systems and other operations management services increased 4.8%.」

    After declining in August, the information services industry grew for 3 consecutive months from September, with sales up 7.7% year on year in November. Software products and contracted systems and other operations management services also increased.
  31. FY2018-Q2Decline after 12 consecutive months of growthAnnual report

    「Total sales in the information services industry had increased year on year for 12 consecutive months through July 2017, but declined 0.2% year on year in August. By category, contracted software declined 2.2% year on year, while software products increased 9.1% and contracted systems and other operations management services increased 2.7%.」

    After 12 consecutive months of growth, total sales in the information services industry turned down in August, declining 0.2% year on year. By business category, contracted software declined, while software products and contracted systems and other operations management services increased.
  32. FY2018-Q1AdvancedAnnual report

    「Total sales in the information services industry in May 2017 increased 3.6% year on year, marking 10 consecutive months of growth.」

    Sales in the information services industry increased 3.6% year on year, extending the period of growth to 10 consecutive months.
  33. FY2017AdvancedAnnual report

    「Total sales in the information services industry in February 2017 increased 2.3% year on year, marking 7 consecutive months of growth despite a temporary 1.0% year-on-year decline in July 2016.」

    After a temporary decline, the information services industry posted year-on-year growth for 7 consecutive months, maintaining its recovery trend.
  34. FY2017-Q3AdvancedAnnual report

    「According to the Ministry of Economy, Trade and Industry's Survey of Selected Service Industries, total sales in the information services industry, to which the group belongs, declined 0.1% and 0.8% year on year in June and July 2016, respectively, before turning upward from August and reaching a 6.6% year-on-year increase in November. By category, contracted software increased 2.8% year on year, software products increased 25.2%, and contracted systems and other operations management services increased 5.0%.」

    The information services industry continued its upward trend after a temporary decline, with total sales up 6.6% year on year in November. All major business categories also exceeded the previous year's levels.
  35. FY2017-Q2Recovery after a temporary slowdownAnnual report

    「Total sales in the information services industry declined 0.1% and 0.8% year on year in June and July 2016, respectively, before turning upward in August, when they increased 4.0% year on year. By category, contracted software increased 2.6% year on year, software products increased 4.4%, and contracted systems and other operations management services increased 6.2%.」

    The information services industry posted modest declines in June and July before turning upward in August, and its main business categories also exceeded the previous year's levels.
  36. FY2017-Q1First statedAnnual report

    「Meanwhile, according to the Ministry of Economy, Trade and Industry's Survey of Selected Service Industries, total sales in the information services industry in May 2016 increased 3.5% year on year. Although sales had temporarily declined 2.0% year on year in March 2016, they recovered, posting growth in the 3% range for 2 consecutive months. Sales of the core category, contracted software, increased 1.4% year on year, software products increased 16.3%, and contracted systems and other operations management services increased 2.8%.」

    The market environment is characterized by a recovery in sales across the information services industry and year-on-year increases in contracted software, software products, and contracted systems and other operations management services.
Moved together

"Increases in Net Sales and Profit and Improvement in ROE" moved the same way as this thread, in the same document, in 22 of its 38 moves.

221817161616★123456
  1. ★This thread
  2. 1Increases in Net Sales and Profit and Improvement in ROE22×
  3. 2Development of Cloud Services and E-commerce-Related Business18×
  4. 3Recurring Orders and Repeat Transactions from Existing Customers17×
  5. 4Risks of development delays, cost increases, and market fluctuations for software packages16×
  6. 5IT Investment Demand and Engineer Shortages in Nagoya and Tokyo16×
  7. 6High SE Utilization and Improved Gross Margin16×

★ 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: "Restated".
News
No news is linked to this thread yet. When an article touches it, it will appear here by date.
Recovery in the Information Services Industry and Growth in Software Demand | SYSTEM RESEARCH CO.,LTD. (3771) | Komori