Worth reading
81Important
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
17.3
Year-on-year change in operating profit (%)Wording
Conditional
How definitive the wording is.Contents of this document
Earnings presentationSecond quarter of the fiscal year ending December 202612 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥4,552 million+17.0%
Operating profit¥1,410 million+17.3%
Ordinary income¥1,461 million +33.9%profit before tax
Net income¥1,003 million +33.0%profit attributable to owners of the parent
Selling, general and administrative expenses¥1,476 million
Gross Profit Margin
Rate63.9%
Year-on-year change (points)Down 1.9 percentage points (65.8% in the year-earlier period)
Operating profit margin
Rate31.0%
Year-on-year change (points)Up 0.1 percentage points (30.9% in the year-earlier period)
Full-year earnings forecast
Revenue
¥9,572 million
Operating profit
¥2,930 million
Pretax profit
¥2,964 million
Profit for the period attributable to owners of the parent
¥2,147 million
CS business revenue
¥6,603 million
CS business operating profit
¥2,780 million
MS business revenue
¥2,968 million
MS business operating profit
¥150 million
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。
Revenue47.6%
CS business revenue46.1%
MS business revenue50.8%
Operating profit48.1%
CS business operating profit44.6%
MS business operating profit113.0%
Pretax profit49.3%
Profit for the period attributable to owners of the parent46.7%
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
The CS business came in slightly below its first-half plan, while operating profit in the MS business exceeded its first-half plan. The full-year earnings plan was maintained.Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
Revenue
Increases in the number of technical specialists and salaries, outsourcing costs, maintenance expenses, consumables, materials, and depreciation
Year-on-year change in amount
¥661 million
Operating profit
Year-on-year change in amount
¥207 million
Pretax profit
Year-on-year change in amount
¥369 million
Improvement in financial income and expenses¥161 million, reflecting an increase in foreign exchange gains
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
Full-year plan for new customer contracts104 companies
FY2028 KPI outlookThe plan assumptions for actual results, forecasts and outlook are shown for ARPA, Customer Churn Rate and NRR
New initiatives
- Offering an AI daily-report completion feature and developing AI functions
- Plans to offer an MCP server that enables AI agents to use ZAC more easily
- Launch of ZAC sales in Vietnam
- Introducing and expanding Semrush Enterprise
- Strengthening of sales and production structures at overseas offices
Key KPIsA metric the company considers important as a management benchmark.
- Contracted licenses364 Thousand licensesYear on year against the same period last year+8.7%
- Contracted licenses per company478 LicensingYear on year against the same period last year+3.7%
- MRR¥389 millionYear on year against the same period last year+8.0%
- Number of new contracts15 companies
- Number of cancellations10 companies
Unit price and quantity metricsThese figures show sales broken down by price and volume.
ARPAZAC and ZAC Enterprise: ¥663.8 thousand; Reforma PSA: ¥69.0 thousand. Increased due to a change in the customer mix
Contracted licenses364 thousand licenses
Contracted licenses per company478 licenses
Segment results
CS business
Revenue
¥3,043 million+12.7%
Operating profit
¥1,240 million+3.1%
MS business
Revenue
¥1,509 million+26.7%
Operating profit
¥169 million
Market Size / Share
Approximately 44,000 target companies in Japan and approximately 24,000 target companies in Vietnam. More than 1,100 cumulative ZAC implementationsNumber of employees
Number of Employees621 employees on a consolidated basis (as of the end of June 2026). Average quarterly headcount by business: 279 in the CS business and 259 in the MS business
Changes during the period and hiring planNew graduates joining in April: 22 in the CS business and 8 in the MS business
Annual Dividend
Annual dividend per share¥50.00
Interim¥25.00
End of period¥25.00 per share (planned)
Payout ratio
41.6% (as shown in the chart)Acquisition of treasury shares
The amount, number of shares and period for the acquisition limit are Not disclosed. The policy is to make a comprehensive decision on share repurchases after considering the business environment and other factors| Item | Details |
|---|---|
| Document type | Earnings presentation |
| Fiscal Period Covered | Second quarter of the fiscal year ending December 2026 |
| Net Sales | ¥4,552 million (YoY +17.0%) |
| Operating profit | ¥1,410 million (YoY +17.3%) |
| Ordinary income | ¥1,461 million (profit before tax) (YoY +33.9%) |
| Net income | ¥1,003 million (profit attributable to owners of the parent) (YoY +33.0%) |
| Gross Profit Margin | Rate 63.9% / Year-on-year change (points) Down 1.9 percentage points (65.8% in the year-earlier period) |
| Operating profit margin | Rate 31.0% / Year-on-year change (points) Up 0.1 percentage points (30.9% in the year-earlier period) |
| Selling, general and administrative expenses | ¥1,476 million |
| Full-year earnings forecast | Revenue ¥9,572 million / Operating profit ¥2,930 million / Pretax profit ¥2,964 million / Profit for the period attributable to owners of the parent ¥2,147 million / CS business revenue ¥6,603 million / CS business operating profit ¥2,780 million / MS business revenue ¥2,968 million / MS business operating profit ¥150 million |
| Progress against full-year forecast | Revenue 47.6% / CS business revenue 46.1% / MS business revenue 50.8% / Operating profit 48.1% / CS business operating profit 44.6% / MS business operating profit 113.0% / Pretax profit 49.3% / Profit for the period attributable to owners of the parent 46.7% |
| Self-assessment against the plan | The CS business came in slightly below its first-half plan, while operating profit in the MS business exceeded its first-half plan. The full-year earnings plan was maintained. |
| Segment results | CS business Revenue ¥3,043 million (YoY +12.7%) / Operating profit ¥1,240 million (YoY +3.1%) / MS business Revenue ¥1,509 million (YoY +26.7%) / Operating profit ¥169 million |
| Breakdown of Factors Affecting the Change | Revenue Year-on-year change in amount ¥661 million / Factors Increases in the number of technical specialists and salaries, outsourcing costs, maintenance expenses, consumables, materials, and depreciation / Operating profit Year-on-year change in amount ¥207 million / Pretax profit Year-on-year change in amount ¥369 million / Improvement in financial income and expenses ¥161 million, reflecting an increase in foreign exchange gains |
| Key KPIs | Contracted licenses 364 Thousand licenses, Contracted licenses per company 478 Licensing, MRR ¥389 million, Number of new contracts 15 companies, Number of cancellations 10 companies |
| Unit price and quantity metrics | ARPA ZAC and ZAC Enterprise: ¥663.8 thousand; Reforma PSA: ¥69.0 thousand. Increased due to a change in the customer mix / Contracted licenses 364 thousand licenses / Contracted licenses per company 478 licenses |
| Number of employees | Number of Employees 621 employees on a consolidated basis (as of the end of June 2026). Average quarterly headcount by business: 279 in the CS business and 259 in the MS business / Changes during the period and hiring plan New graduates joining in April: 22 in the CS business and 8 in the MS business |
| Assumptions Underlying the Business Outlook | Full-year plan for new customer contracts 104 companies / FY2028 KPI outlook The plan assumptions for actual results, forecasts and outlook are shown for ARPA, Customer Churn Rate and NRR |
| Annual Dividend | Annual dividend per share ¥50.00 / Interim ¥25.00 / End of period ¥25.00 per share (planned) |
| Payout ratio | 41.6% (as shown in the chart) |
| Acquisition of treasury shares | The amount, number of shares and period for the acquisition limit are Not disclosed. The policy is to make a comprehensive decision on share repurchases after considering the business environment and other factors |
| Market Size / Share | Approximately 44,000 target companies in Japan and approximately 24,000 target companies in Vietnam. More than 1,100 cumulative ZAC implementations |
| New initiatives | Offering an AI daily-report completion feature and developing AI functions, Plans to offer an MCP server that enables AI agents to use ZAC more easily, Launch of ZAC sales in Vietnam, Introducing and expanding Semrush Enterprise, Strengthening of sales and production structures at overseas offices |
Items this document does not state (8)
Results for the three months of the current quarterNumber of stores and locationsRisk amount incorporated into the outlookMedium-term management plan targetsFinancial targetsCapital expendituresOrders received and order backlogKey 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.In the Cloud Solutions business, recurring revenue increased as orders for large projects grew, while expenses such as advertising and promotional costs also increased, and the business came in slightly below its first-half plan due to delays in acquiring small and medium-sized projects. In the Marketing Solutions business, orders from major customers recovered and overseas outsourcing costs were kept under control, among other factors, resulting in performance above the first-half plan. On a consolidated basis, the improvement in financial income and expenses was attributed to an increase in foreign exchange gains.
How to read this page
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