Worth reading
64In 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
200
¥100 million (revenue target for the fiscal years ending March 2030–2032)Wording
Avoiding a definitive answer
How definitive the wording is.Items stated in the management plan
FormulatedNet Sales+17.4%
基準 7,751Target9,100million / ¥100 million
Operating profit+20.2%
基準 932Target1,120million yen
Operating profit margin+1.0pt
基準 26Target27%
Net income for the current fiscal year+15.3%
基準 737Target850million yen
Each line is the climb from the baseline the document states to the target it sets. The slope is scaled against the largest climb in this document. For metrics expressed as percentages, differences are shown in percentage points (pt).The increase shown by the dotted line is calculated from the two reported figures because the company did not provide the amount of growth.
What happened to the previous planNot disclosed → ¥1,530 million (FY27/3 forecast)
Investment amount by sectorField Growth investments (human capital investments and advertising expenses) / Amount Not disclosed, Field Investments and M&A / Amount Not disclosed
Statements about the use of capital
Payout ratio / DOE policyFrom the fiscal year ended March 2025 onward, the company will generally pursue progressive dividends, using a payout ratio of 15% or more as a guideline.The payout ratio is the proportion of profit paid out as dividends, while DOE is the ratio of dividends to net assets.
Treasury share acquisition policyThe company will conduct flexible share repurchases. In May 2026, it established a repurchase limit of 1 million shares and ¥350 million.
Self-assessment of PBR and share priceThe company states that it aims to increase its share price through capital gains and achieve sustained share price growth over the medium to long term, but its assessment of PBR and the current share price level is not disclosed.PBR is a measure of how many times the share price is the book value per share.
Key initiatives
0101. Enhancing customer value through a multiproduct strategy
0202. Turning the company into a "bidding strategist" through AI agents
0303. Improving productivity through public-private collaboration
0401. Accompanying BPO services to complete AI implementation
0502. A recurring-revenue strategy
0603. Growing the existing BPO business as a robust source of earnings
0701. fondesk: Building a foundation for renewed medium- to long-term growth
0802. Photo: Establishing a more profitable business structure through earnings improvement and fully realizing M&A synergies with YSS
Plan assumptionsApproximately 16 million workers and approximately ¥69 trillion in labor force value are expected to be lost by 2040., The overall medium- to long-term bidding and procurement market is valued at ¥28 trillion., The AI market is considered a rapidly growing market expected to triple in approximately 5 years., Generative AI is used by approximately 80% of organizations.
Segment targetPeriod FY27/3 / Segment Govtech Business / Net Sales ¥4,330 million / EBITDA ¥1,950 million, Period FY27/3 / Segment BPO Services / Net Sales ¥2,150 million / EBITDA ¥400 million, Period FY27/3 / Segment fondesk / Net Sales ¥1,300 million / EBITDA ¥300 million, Period FY27/3 / Segment Photo (en-photo, OurPhoto, and YSS) / Net Sales ¥1,300 million / EBITDA ¥90 million, Period FY30～32/3 / Segment Govtech Business / Net Sales ¥10 billion / Profit Not disclosed, Period FY30～32/3 / Segment BPO Services / Net Sales ¥5 billion / Profit Not disclosed, Period FY30～32/3 / Segment Other businesses (new growth areas) / Net Sales ¥5 billion / Profit Not disclosed
Size of the Target MarketMarket Overall bidding and procurement market / Scale ¥28 trillion / Source Not disclosed, Market AI market / Scale Approximately threefold growth in 5 years / Source Calculated from IDC's forecast of investment spending from 2024 to 2029 in "IDC Announces 2024 Japan AI Systems Market Forecast" (1 May 2025)
Risks identified by the company
Risks related to achieving talent development under "ULURU Sustainable Growth" (delays in the hiring plan, slower growth across the organization, and lower execution capabilities)
Risks related to the use of AI and digital technologies and the maintenance of information security
Risk of erosion of NJSS's distinctiveness and competitive advantages
Compliance Risk
Reason for revision or withdrawal
Various initiatives progressed steadily during the fiscal year ended March 2026. Based on the challenges of the previous growth strategy and the company's vision for the future, the company formulated a new growth strategy for the new segments. To accelerate the pace of management and communicate more directly to investors and other stakeholders the progress of the Govtech business, the source of growth, the company changed its segments from the fiscal year ending March 2027.
| Item | Details |
|---|---|
| Plan name | ULURU Sustainable Growth |
| Plan period | FY27/3 (business strategy) / FY30–32/3 (medium-term financial targets) |
| Progress against the plan | Formulated |
| Sales Target | 7,751 (FY26/3 actual) → 9,100 (FY27/3 forecast) / ¥20 billion (FY30–32/3 target)（17.4% (FY27/3 forecast compared with FY26/3 actual)） |
| Operating profit target | 932 (FY26/3 actual) → 1,120 (FY27/3 forecast)（20.1%） |
| Operating profit margin target | 12.0% (FY26/3 actual) → 12.3% (FY27/3 forecast) |
| Net income target | 737 (FY26/3 actual) → 850 (FY27/3 forecast)（15.3%） |
| Payout ratio / DOE policy | From the fiscal year ended March 2025 onward, the company will generally pursue progressive dividends, using a payout ratio of 15% or more as a guideline. |
| Treasury share acquisition policy | The company will conduct flexible share repurchases. In May 2026, it established a repurchase limit of 1 million shares and ¥350 million. |
| Self-assessment of PBR and share price | The company states that it aims to increase its share price through capital gains and achieve sustained share price growth over the medium to long term, but its assessment of PBR and the current share price level is not disclosed. |
| Investment amount by sector | Field Growth investments (human capital investments and advertising expenses) / Amount Not disclosed, Field Investments and M&A / Amount Not disclosed |
| Segment target | Period FY27/3 / Segment Govtech Business / Net Sales ¥4,330 million / EBITDA ¥1,950 million, Period FY27/3 / Segment BPO Services / Net Sales ¥2,150 million / EBITDA ¥400 million, Period FY27/3 / Segment fondesk / Net Sales ¥1,300 million / EBITDA ¥300 million, Period FY27/3 / Segment Photo (en-photo, OurPhoto, and YSS) / Net Sales ¥1,300 million / EBITDA ¥90 million, Period FY30～32/3 / Segment Govtech Business / Net Sales ¥10 billion / Profit Not disclosed, Period FY30～32/3 / Segment BPO Services / Net Sales ¥5 billion / Profit Not disclosed, Period FY30～32/3 / Segment Other businesses (new growth areas) / Net Sales ¥5 billion / Profit Not disclosed |
| Plan assumptions | Approximately 16 million workers and approximately ¥69 trillion in labor force value are expected to be lost by 2040., The overall medium- to long-term bidding and procurement market is valued at ¥28 trillion., The AI market is considered a rapidly growing market expected to triple in approximately 5 years., Generative AI is used by approximately 80% of organizations. |
| Key initiatives | 01. Enhancing customer value through a multiproduct strategy, 02. Turning the company into a "bidding strategist" through AI agents, 03. Improving productivity through public-private collaboration, 01. Accompanying BPO services to complete AI implementation, 02. A recurring-revenue strategy, 03. Growing the existing BPO business as a robust source of earnings, 01. fondesk: Building a foundation for renewed medium- to long-term growth, 02. Photo: Establishing a more profitable business structure through earnings improvement and fully realizing M&A synergies with YSS |
| Results under the previous plan | Not disclosed → ¥1,530 million (FY27/3 forecast) |
| Reason for revision or withdrawal | Various initiatives progressed steadily during the fiscal year ended March 2026. Based on the challenges of the previous growth strategy and the company's vision for the future, the company formulated a new growth strategy for the new segments. To accelerate the pace of management and communicate more directly to investors and other stakeholders the progress of the Govtech business, the source of growth, the company changed its segments from the fiscal year ending March 2027. |
| Size of the Target Market | Market Overall bidding and procurement market / Scale ¥28 trillion / Source Not disclosed, Market AI market / Scale Approximately threefold growth in 5 years / Source Calculated from IDC's forecast of investment spending from 2024 to 2029 in "IDC Announces 2024 Japan AI Systems Market Forecast" (1 May 2025) |
| Risks identified | Risks related to achieving talent development under "ULURU Sustainable Growth" (delays in the hiring plan, slower growth across the organization, and lower execution capabilities), Risks related to the use of AI and digital technologies and the maintenance of information security, Risk of erosion of NJSS's distinctiveness and competitive advantages, Compliance Risk |
| Publication date | 24 June 2026 |
Items this document does not state (6)
ROE targetROIC targetCost of capitalTotal investment planNon-financial targetsDate 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 reasons cited were the steady progress of various initiatives during the fiscal year ended March 2026, the formulation of a new growth strategy based on the challenges of the previous growth strategy and the company's vision for the future, and the desire to accelerate the pace of management and communicate more directly to stakeholders the progress of the Govtech business, the source of growth.
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