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
11.2
¥100 million (shortfall in tradable share market capitalization)Wording
Conditional
How definitive the wording is.Items stated in the management plan
FormulatedStatements about the use of capital
Payout ratio / DOE policyThe company will pay the higher of the amount calculated based on a 50.0% payout ratio and the latest dividend forecast. It will continue this policy going forward as an effectively progressive dividend policy with a specified floor. Applicable period: going forwardThe payout ratio is the proportion of profit paid out as dividends, while DOE is the ratio of dividends to net assets.
Self-assessment of PBR and share priceNo PBR is stated. Tradable share market capitalization is ¥8.88 billion, below the ¥10.0 billion criterion, and the company assesses that its share price has not reached the target level. Against the current share price of ¥431.6, the required level is approximately ¥486 or higher, representing an increase of approximately 13%.PBR is a measure of how many times the share price is the book value per share.
Key initiatives
01Optimize the excessive expansion of customization (measure addressing Issue 1)
02Bring customized projects to completion and establish a framework for packaging them
03Achieve reliable earnings growth through appropriate price revisions for products and services
04Disclose a medium-term management plan (measure addressing Issue 2)
05B2B model (0th strategy): deepen sales and pursue new opportunities through AI eBASE
06B2B model (1st strategy): support registration of products with ebisu and establish it as the de facto standard
07B2B2C model (2nd strategy): rebuild the execution scenario and expand awareness through TV commercials
08Strengthen IR and information communications
09Use retained earnings for growth investments (measure addressing Issue 3)
10Launch the next 3rd strategy (DATA eBASE) and pursue effective M&A
11Return profits to shareholders in line with growth in ordinary profit
Plan assumptionsAssumes that the number of tradable shares will be maintained at the current level of 205,944 units (20.59 million shares), Uses the current share price, defined as the average share price of ¥431.6 for January-March 2026
Non-financial targetsIndicator Shareholders / Target value 800 people / Timing Not disclosed, Indicator Number of tradable shares / Target value 20,000 units / Timing Not disclosed, Indicator Tradable share ratio / Target value 35％ / Timing Not disclosed
Risks identified by the company
If compliance with the listing maintenance criteria cannot be confirmed by the end of March 2027, the company may be designated as a security under supervision (confirmation pending)
Depending on the TSE review results, the company may be designated as a security to be delisted and delisted on 1 October 2027
| Item | Details |
|---|---|
| Plan name | Plan to Meet Prime Market Listing Maintenance Criteria (Entering Improvement Period) |
| Plan period | Start: Not disclosed; End: end of March 2027 (improvement period) |
| Progress against the plan | Formulated |
| Payout ratio / DOE policy | The company will pay the higher of the amount calculated based on a 50.0% payout ratio and the latest dividend forecast. It will continue this policy going forward as an effectively progressive dividend policy with a specified floor. Applicable period: going forward |
| Self-assessment of PBR and share price | No PBR is stated. Tradable share market capitalization is ¥8.88 billion, below the ¥10.0 billion criterion, and the company assesses that its share price has not reached the target level. Against the current share price of ¥431.6, the required level is approximately ¥486 or higher, representing an increase of approximately 13%. |
| Non-financial targets | Indicator Shareholders / Target value 800 people / Timing Not disclosed, Indicator Number of tradable shares / Target value 20,000 units / Timing Not disclosed, Indicator Tradable share ratio / Target value 35％ / Timing Not disclosed |
| Plan assumptions | Assumes that the number of tradable shares will be maintained at the current level of 205,944 units (20.59 million shares), Uses the current share price, defined as the average share price of ¥431.6 for January-March 2026 |
| Key initiatives | Optimize the excessive expansion of customization (measure addressing Issue 1), Bring customized projects to completion and establish a framework for packaging them, Achieve reliable earnings growth through appropriate price revisions for products and services, Disclose a medium-term management plan (measure addressing Issue 2), B2B model (0th strategy): deepen sales and pursue new opportunities through AI eBASE, B2B model (1st strategy): support registration of products with ebisu and establish it as the de facto standard, B2B2C model (2nd strategy): rebuild the execution scenario and expand awareness through TV commercials, Strengthen IR and information communications, Use retained earnings for growth investments (measure addressing Issue 3), Launch the next 3rd strategy (DATA eBASE) and pursue effective M&A, Return profits to shareholders in line with growth in ordinary profit |
| Risks identified | If compliance with the listing maintenance criteria cannot be confirmed by the end of March 2027, the company may be designated as a security under supervision (confirmation pending), Depending on the TSE review results, the company may be designated as a security to be delisted and delisted on 1 October 2027 |
| Publication date | 19 June 2026 |
Items this document does not state (15)
Sales TargetOperating profit targetOperating profit margin targetNet income targetROE targetROIC targetTreasury share acquisition policyCost of capitalTotal investment planInvestment amount by sectorSegment targetResults under the previous planReason for revision or withdrawalSize of the Target MarketDate of board resolution
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 company identified the deterioration in profitability caused by the excessive expansion of customized projects, insufficient communication of its growth vision due to the absence of a medium-term management plan, and its failure to make sufficient use of retained earnings for growth investments as the fundamental reasons why the share price has not reached the target level.
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.