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Financial results presentation4011Headwaters Co.,LtdInformation and Communications, Services and Others

Supplementary Materials for the First Quarter Financial Results for the Fiscal Year Ending December 2026

In the first quarter of the fiscal year ending December 2026, revenue increased to 170.8% of the year-earlier level, and the Company swung from an operating loss in the same period of the previous year to an operating profit. It also transitioned from its AI Solutions business to an AI Platform business and reorganized into three segments.

Worth reading
55In 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
170.8
Year-on-year change in revenue (%)
Wording
Conditional
How definitive the wording is.

Contents of this document

Supplementary materials to the earnings reportFirst quarter of the fiscal year ending December 20266 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥1,262,400 thousand+170.8%
Operating profit¥135,293 thousand
Ordinary income¥52,075 thousand
Net income¥12,449 thousand
Selling, general and administrative expenses¥431,632 thousand
Gross Profit Margin
Rate44.9
Year-on-year change (points)4.6
Operating profit margin
Rate10.7
Results for the three months of the current quarter
Net Sales
¥1,262,400 thousand
Operating profit
¥135,293 thousand
Ordinary income
¥52,075 thousand
Net income
¥12,449 thousand
Full-year earnings forecast
Net Sales
¥8,555,000 thousand
Operating profit
¥650,332 thousand
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 Sales14.8
Operating profit18
Ordinary income8.4
Net income3.2
Enterprise AI Solutions revenue20.1
AI Workflow Engineering revenue9.3
What the company explained in this material
Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
  • Derivative Valuation Losses¥-21,226 thousand
  • Equity-method investment loss¥-55,243 thousand
New initiatives
  • Transition from the AI Solutions business to the AI Platform business
  • Reorganization into three segments: Enterprise AI Solutions, AI Workflow Engineering, and DATA & AI Engine
  • Announcement of SyncLect Data Intelligence
  • Launch of an improvement-cycle model supporting the conversion of conventional SaaS into AI agents
  • Strengthening of context engineering
Key KPIsA metric the company considers important as a management benchmark.
  • Number of projects (Enterprise AI Solutions)193 Engagements
  • Number of projects (AI Workflow Engineering)40 Engagements
  • Revenue per project (Enterprise AI Solutions)5,742 Thousand yen/project
  • Revenue per project (AI Workflow Engineering)6,163 Thousand yen/project
  • Number of employees401 people
    Year on year against the same period last year+148 people year on year
  • Revenue per employee¥1,118 thousand
  • Customer Base147 companies
  • Revenue per customer¥8,588 thousand
Unit price and quantity metricsThese figures show sales broken down by price and volume.
  • Revenue per project (Enterprise AI Solutions)5,742 Thousand yen/project
  • Number of projects (Enterprise AI Solutions)193 Engagements
  • Revenue per project (AI Workflow Engineering)6,163 Thousand yen/project
  • Number of projects (AI Workflow Engineering)40 Engagements
  • Revenue per customer¥8,588 thousand
  • Customer Base147 companies
Segment results
  • Enterprise AI Solutions
    Net Sales¥1,108,299 thousand (YoY +156.3%)
    Operating profit¥116,731 thousand
  • AI Workflow Engineering
    Net Sales¥246,516 thousand (YoY +255.8%)
    Operating profit¥17,778 thousand
  • DATA & AI Engine
  • Intersegment Transactions
    Net Sales¥-92,415 thousand
    Operating profit¥783 thousand
Number of employees
Number of Employees401 people
Change during the periodNet increase of 12 people from the previous quarter and 148 people from the same quarter of the previous year
Hiring planNet increase of 100 people
Contents of this document
ItemDetails
Document typeSupplementary materials to the earnings report
Fiscal Period CoveredFirst quarter of the fiscal year ending December 2026
Net Sales¥1,262,400 thousand (YoY +170.8%)
Operating profit¥135,293 thousand
Ordinary income¥52,075 thousand
Net income¥12,449 thousand
Gross Profit MarginRate 44.9 / Year-on-year change (points) 4.6
Operating profit marginRate 10.7 / Year-on-year change (points) Not disclosed
Selling, general and administrative expenses¥431,632 thousand
Results for the three months of the current quarterNet Sales ¥1,262,400 thousand / Operating profit ¥135,293 thousand / Ordinary income ¥52,075 thousand / Net income ¥12,449 thousand
Full-year earnings forecastNet Sales ¥8,555,000 thousand / Operating profit ¥650,332 thousand / Ordinary income Not disclosed / Net income Not disclosed
Progress against full-year forecastNet Sales 14.8 / Operating profit 18 / Ordinary income 8.4 / Net income 3.2 / Enterprise AI Solutions revenue 20.1 / AI Workflow Engineering revenue 9.3
Segment resultsSegment Enterprise AI Solutions / Net Sales ¥1,108,299 thousand (YoY +156.3%) / Operating profit ¥116,731 thousand, Segment AI Workflow Engineering / Net Sales ¥246,516 thousand (YoY +255.8%) / Operating profit ¥17,778 thousand, Segment DATA & AI Engine / Net Sales Not disclosed / Operating profit Not disclosed, Segment Intersegment Transactions / Net Sales ¥-92,415 thousand / Operating profit ¥783 thousand
Breakdown of Factors Affecting the ChangeFactors Derivative Valuation Losses / Amount ¥-21,226 thousand, Factors Equity-method investment loss / Amount ¥-55,243 thousand
Key KPIsIndicator name Number of projects (Enterprise AI Solutions) / Value 193 Engagements / Year on year against the same period last year Not disclosed, Indicator name Number of projects (AI Workflow Engineering) / Value 40 Engagements / Year on year against the same period last year Not disclosed, Indicator name Revenue per project (Enterprise AI Solutions) / Value 5,742 Thousand yen/project / Year on year against the same period last year Not disclosed, Indicator name Revenue per project (AI Workflow Engineering) / Value 6,163 Thousand yen/project / Year on year against the same period last year Not disclosed, Indicator name Number of employees / Value 401 people / Year on year against the same period last year +148 people year on year, Indicator name Revenue per employee / Value ¥1,118 thousand / Year on year against the same period last year Not disclosed, Indicator name Customer Base / Value 147 companies / Year on year against the same period last year Not disclosed, Indicator name Revenue per customer / Value ¥8,588 thousand / Year on year against the same period last year Not disclosed
Unit price and quantity metricsIndicator name Revenue per project (Enterprise AI Solutions) / Value 5,742 Thousand yen/project, Indicator name Number of projects (Enterprise AI Solutions) / Value 193 Engagements, Indicator name Revenue per project (AI Workflow Engineering) / Value 6,163 Thousand yen/project, Indicator name Number of projects (AI Workflow Engineering) / Value 40 Engagements, Indicator name Revenue per customer / Value ¥8,588 thousand, Indicator name Customer Base / Value 147 companies
Number of employeesNumber of Employees 401 people / Change during the period Net increase of 12 people from the previous quarter and 148 people from the same quarter of the previous year / Hiring plan Net increase of 100 people
New initiativesTransition from the AI Solutions business to the AI Platform business, Reorganization into three segments: Enterprise AI Solutions, AI Workflow Engineering, and DATA & AI Engine, Announcement of SyncLect Data Intelligence, Launch of an improvement-cycle model supporting the conversion of conventional SaaS into AI agents, Strengthening of context engineering
Items this document does not state (13)
Self-assessment against the planNumber of stores and locationsAssumptions Underlying the Business OutlookRisk amount incorporated into the outlookMedium-term management plan targetsFinancial targetsAnnual DividendPayout ratioAcquisition of treasury sharesCapital 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.

Revenue increased as the Company captured demand for AI agents, raised average revenue per sale by deepening its loyal-client strategy, expanded adoption of AI-driven development, and undertook more large-scale projects. For operating profit, the Company concentrated resources by specializing in industries such as financial services and manufacturing.

How to read this page

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Corrections happenIf the company reissues this disclosure, the page is rebuilt from the corrected version and the revision number moves up.
Supplementary Materials for the First Quarter Financial Results for the Fiscal Year Ending December 2026 | Headwaters Co.,Ltd (4011) timely disclosure | Komori