Worth reading
82Important
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
180
¥ million (downward revision to the operating profit forecast)Wording
Conditional
How definitive the wording is.Contents of this document
Financial results presentationFiscal year ending December 2026: third quarter11 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥4,334 million+22.3%
Operating profit¥230 million+96.3%
Ordinary income¥229 million+96.2%
Net income¥122 million+130.7%
Selling, general and administrative expenses¥822 million
Gross Profit Margin
Rate24.3%
Year-on-year change (points)+0.9pt
Operating profit margin
Rate5.3%
Year-on-year change (points)+2.0pt
Results for the three months of the current quarter
Net Sales¥1,710 million (up 14.6% year on year)
Gross profit¥442 million (up 9.8% year on year)
Gross Profit Margin25.9% (down 1.1 pts year on year)
Operating profit¥170 million (up 6.5% year on year)
Operating profit margin10.0% (down 0.8 pts year on year)
Ordinary income¥172 million (up 13.3% year on year)
Quarterly net income¥105 million (down 14.1% year on year)
Full-year earnings forecast
Net Sales¥5,850 million
Operating profit¥300 million
Ordinary income¥300 million
Profit attributable to owners of the parent¥140 million
Earnings per share¥3.46
Annual Dividend¥2 per share
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。
Net Sales102.6% (full-year forecast versus the initial plan of ¥5,700 million)
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
Sales are expected to exceed the forecast, while profit for the current fiscal year will fall short of plan.Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
Focused investment in security measuresApproximately -¥60 million
Acceptance timing pushed into the following fiscal periodApproximately -¥50 million
Expanded AI initiativesApproximately -¥60 million
Subsidiary falling short of profit planApproximately -¥40 million
Revenue growth and margin improvementApproximately +¥30 million
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
Fourth-quarter revenue outlook¥1,516 million
Fourth-quarter operating profit forecastApproximately ¥70 million
New initiatives
- Development and pilot testing of AI-based behavioral monitoring
- Third-party assessment by an external specialist organization
- Expansion of penetration testing and source-code assessments
- Introduction of a multi-factor authentication solution for administrators
- Launch of a new behavioral monitoring solution and first commercial deployment in FY2027
- Opening of a security consultation desk
- Overseas commercial rollout of the securities white-label service for SBI Thai Online Securities
- PoC for LastEvidence, an audit-trail platform, with SBI Securities
Key KPIsA metric the company considers important as a management benchmark.
EBITDA¥461 million (up 85.2% year on year)
EBITDA margin15.1% (14.7% in the same period of the previous year)
Recurring revenue¥576 million
Spot revenue¥1,135 million (up 40.7% quarter on quarter)
Stock revenue mix33.6%
Spot gross margin40.4%
Equity ratio64.1% (up 17.8 pts from the end of the previous fiscal year)
ROE7.4% (9-month cumulative, annualized)
Book value per share¥63.49
Medium-term management plan targets
Target fiscal year2029
Consolidated salesApproximately ¥10 billion
Operating profit margin20% range
ROE20%
Recurring revenue ratioOver 60%
Corporate HistoryPrime Market level
Comparison with current positionConsolidated revenue of ¥5.05 billion, operating margin of 5.1%, ROE of 3.6%, recurring revenue ratio in the 40% range, and TSE Standard Market
Financial targets
ROE target20% (2029)
Actual ROE7.4% (9-month cumulative, annualized)
Actual equity ratio64.1% (at the end of the third quarter)
Risk amount incorporated into the outlookThe amount representing the range of variation the company expects in its forecast.
Estimated losses from unauthorized access incidentApproximately ¥50 million (extraordinary loss, expected to be recorded in the fourth quarter)
Annual Dividend
Annual dividend per share¥2 per share
Payout ratio
Approximately 58% (based on expected net profit of ¥140 million after the revision)Acquisition of treasury shares
Approximately ¥202 million (conducted from April to August 2026)| Item | Details |
|---|---|
| Document type | Financial results presentation |
| Fiscal Period Covered | Fiscal year ending December 2026: third quarter |
| Net Sales | ¥4,334 million (YoY +22.3%) |
| Operating profit | ¥230 million (YoY +96.3%) |
| Ordinary income | ¥229 million (YoY +96.2%) |
| Net income | ¥122 million (YoY +130.7%) |
| Gross Profit Margin | Rate 24.3% / Year-on-year change (points) +0.9pt |
| Operating profit margin | Rate 5.3% / Year-on-year change (points) +2.0pt |
| Selling, general and administrative expenses | ¥822 million |
| Results for the three months of the current quarter | Net Sales ¥1,710 million (up 14.6% year on year) / Gross profit ¥442 million (up 9.8% year on year) / Gross Profit Margin 25.9% (down 1.1 pts year on year) / Operating profit ¥170 million (up 6.5% year on year) / Operating profit margin 10.0% (down 0.8 pts year on year) / Ordinary income ¥172 million (up 13.3% year on year) / Quarterly net income ¥105 million (down 14.1% year on year) |
| Full-year earnings forecast | Net Sales ¥5,850 million / Operating profit ¥300 million / Ordinary income ¥300 million / Profit attributable to owners of the parent ¥140 million / Earnings per share ¥3.46 / Annual Dividend ¥2 per share |
| Progress against full-year forecast | Net Sales 102.6% (full-year forecast versus the initial plan of ¥5,700 million) / Other Not disclosed |
| Self-assessment against the plan | Sales are expected to exceed the forecast, while profit for the current fiscal year will fall short of plan. |
| Breakdown of Factors Affecting the Change | Focused investment in security measures Approximately -¥60 million / Acceptance timing pushed into the following fiscal period Approximately -¥50 million / Expanded AI initiatives Approximately -¥60 million / Subsidiary falling short of profit plan Approximately -¥40 million / Revenue growth and margin improvement Approximately +¥30 million |
| Key KPIs | EBITDA ¥461 million (up 85.2% year on year) / EBITDA margin 15.1% (14.7% in the same period of the previous year) / Recurring revenue ¥576 million / Spot revenue ¥1,135 million (up 40.7% quarter on quarter) / Stock revenue mix 33.6% / Spot gross margin 40.4% / Equity ratio 64.1% (up 17.8 pts from the end of the previous fiscal year) / ROE 7.4% (9-month cumulative, annualized) / Book value per share ¥63.49 |
| Assumptions Underlying the Business Outlook | Fourth-quarter revenue outlook ¥1,516 million / Fourth-quarter operating profit forecast Approximately ¥70 million |
| Risk amount incorporated into the outlook | Estimated losses from unauthorized access incident Approximately ¥50 million (extraordinary loss, expected to be recorded in the fourth quarter) |
| Medium-term management plan targets | Target fiscal year 2029 / Consolidated sales Approximately ¥10 billion / Operating profit margin 20% range / ROE 20% / Recurring revenue ratio Over 60% / Corporate History Prime Market level / Comparison with current position Consolidated revenue of ¥5.05 billion, operating margin of 5.1%, ROE of 3.6%, recurring revenue ratio in the 40% range, and TSE Standard Market |
| Financial targets | ROE target 20% (2029) / Actual ROE 7.4% (9-month cumulative, annualized) / Actual equity ratio 64.1% (at the end of the third quarter) |
| Annual Dividend | Annual dividend per share ¥2 per share / Interim and Year-End Breakdown Not disclosed |
| Payout ratio | Approximately 58% (based on expected net profit of ¥140 million after the revision) |
| Acquisition of treasury shares | Approximately ¥202 million (conducted from April to August 2026) |
| New initiatives | Development and pilot testing of AI-based behavioral monitoring, Third-party assessment by an external specialist organization, Expansion of penetration testing and source-code assessments, Introduction of a multi-factor authentication solution for administrators, Launch of a new behavioral monitoring solution and first commercial deployment in FY2027, Opening of a security consultation desk, Overseas commercial rollout of the securities white-label service for SBI Thai Online Securities, PoC for LastEvidence, an audit-trail platform, with SBI Securities |
Items this document does not state (8)
Segment resultsUnit price and quantity metricsNumber of stores and locationsNumber of employeesCapital expendituresOrders received and order backlogMarket Size / ShareKey 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.Concentrated investment in security measures in the fourth quarter following the unauthorized access incident, acceptance slipping into the following fiscal year as customers reassessed development priorities and the Company reassigned personnel, higher AI-related costs in preparation for the new medium-term management plan, and some subsidiaries falling short of their profit plans.
How to read this page
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