Worth reading
51Recurring
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
20.5
Year-on-year growth in FY2026 revenue (%)Wording
Avoiding a definitive answer
How definitive the wording is.Items stated in the management plan
Partially revisedOperating profit marginNot disclosed → 10% or higher
Only the target level is shown because the current level for comparison was not provided.What happened to the previous plan¥10 billion ARR (FY2027) → ARR of ¥4.99 billion at the end of FY2025-0.1%Calculated from the two disclosed figures
Key initiatives
01Increase adoption of SPIDER+Workspace and strengthen the solution business
02Expand sales of package-based plans
03Co-creation with digitally advanced companies
04Increase adoption among existing major customers
05Develop new customers that have not yet adopted the service
06Strengthen efforts to develop priority markets beyond Vietnam in overseas expansion
Plan assumptionsAccelerate growth in the contract value per existing customer (ARPU/ARPA) as the primary driver of ARR growth, Year-end ARR target of ¥6 billion, up 20% year on year, ARR growth is expected to accelerate from FY2026 Q2 onward, with FY2026 Q1 marking the bottom of the slowdown in ARR growth, Gross margin on revenue of at least 73%, the FY2025 full-year average, Selling, general and administrative expenses of ¥1.0–1.1 billion per quarter, Free cash flow was negative ¥103 million in FY2025, and is expected to remain at a similar negative level in FY2026
Segment targetSegment Software / Target Growth of at least 20% CAGR through FY2028, Segment Solutions Business / Target Revenue of ¥2 billion
Non-financial targetsIndicator name Company-level churn rate / Target value Below 1% / Timing FY2026
Size of the Target MarketConstruction investment ¥68 trillion in FY2025 and ¥84 trillion in FY2035 / Construction DX market size Approximately ¥900 billion / Number of companies adopting construction management cloud services 21,559 companies in FY2022, approximately 98,000 companies in FY2029, CAGR of 24.7% / Source Japan Federation of Construction Contractors, “Long-Term Vision 2.0 for the Construction Industry, Part II, Chapter 1: Outlook for the Construction Market and Workforce in 2035”, Deloitte Tohmatsu MIC Research Institute Co., Ltd., “MIC IT Report, December 2025: Trends in the Construction Management Cloud Services Market and Vendor Share”, Ministry of Land, Infrastructure, Transport and Tourism, “FY2020 Construction Investment Outlook”; SPEEDA, “Housing, Renovation and Repair Industry”; Japan Users' Association for Information Systems, “2020 Corporate IT Trends Survey Report”
Risks identified by the company
The risk that a rapid and prolonged contraction in the construction market could result in customers experiencing deteriorating business conditions or bankruptcy, affecting the Company's financial position and operating results
The risk that competition could intensify beyond the Company's expectations if leading competitors with strong financial resources and brand power use those resources more extensively than at present to sell their services and products, affecting the Company's financial position and operating results
The risk that delays in responding to technological innovation could reduce the Company's technological capabilities and competitiveness, or that increased spending to respond to technological innovation could affect the Company's financial position and operating results
The risk that the Company's business and operating results could be affected if the benefits of upfront investments fail to materialize as expected
The risk that the Company's financial position and operating results could be affected if it is unable to secure and develop highly capable personnel, or if employee attrition increases after hiring
Reason for revision or withdrawal
The timing of the target was changed based on business progress in FY2025.
| Item | Details |
|---|---|
| Plan name | Medium-Term Strategy |
| Plan period | FY2026～FY2028 |
| Progress against the plan | Partially revised |
| Operating profit margin target | Not disclosed → 10% or higher |
| Segment target | Segment Software / Target Growth of at least 20% CAGR through FY2028, Segment Solutions Business / Target Revenue of ¥2 billion |
| Non-financial targets | Indicator name Company-level churn rate / Target value Below 1% / Timing FY2026 |
| Plan assumptions | Accelerate growth in the contract value per existing customer (ARPU/ARPA) as the primary driver of ARR growth, Year-end ARR target of ¥6 billion, up 20% year on year, ARR growth is expected to accelerate from FY2026 Q2 onward, with FY2026 Q1 marking the bottom of the slowdown in ARR growth, Gross margin on revenue of at least 73%, the FY2025 full-year average, Selling, general and administrative expenses of ¥1.0–1.1 billion per quarter, Free cash flow was negative ¥103 million in FY2025, and is expected to remain at a similar negative level in FY2026 |
| Key initiatives | Increase adoption of SPIDER+Workspace and strengthen the solution business, Expand sales of package-based plans, Co-creation with digitally advanced companies, Increase adoption among existing major customers, Develop new customers that have not yet adopted the service, Strengthen efforts to develop priority markets beyond Vietnam in overseas expansion |
| Results under the previous plan | ¥10 billion ARR (FY2027) → ARR of ¥4.99 billion at the end of FY2025 |
| Reason for revision or withdrawal | The timing of the target was changed based on business progress in FY2025. |
| Size of the Target Market | Construction investment ¥68 trillion in FY2025 and ¥84 trillion in FY2035 / Construction DX market size Approximately ¥900 billion / Number of companies adopting construction management cloud services 21,559 companies in FY2022, approximately 98,000 companies in FY2029, CAGR of 24.7% / Source Japan Federation of Construction Contractors, “Long-Term Vision 2.0 for the Construction Industry, Part II, Chapter 1: Outlook for the Construction Market and Workforce in 2035”, Deloitte Tohmatsu MIC Research Institute Co., Ltd., “MIC IT Report, December 2025: Trends in the Construction Management Cloud Services Market and Vendor Share”, Ministry of Land, Infrastructure, Transport and Tourism, “FY2020 Construction Investment Outlook”; SPEEDA, “Housing, Renovation and Repair Industry”; Japan Users' Association for Information Systems, “2020 Corporate IT Trends Survey Report” |
| Risks identified | The risk that a rapid and prolonged contraction in the construction market could result in customers experiencing deteriorating business conditions or bankruptcy, affecting the Company's financial position and operating results, The risk that competition could intensify beyond the Company's expectations if leading competitors with strong financial resources and brand power use those resources more extensively than at present to sell their services and products, affecting the Company's financial position and operating results, The risk that delays in responding to technological innovation could reduce the Company's technological capabilities and competitiveness, or that increased spending to respond to technological innovation could affect the Company's financial position and operating results, The risk that the Company's business and operating results could be affected if the benefits of upfront investments fail to materialize as expected, The risk that the Company's financial position and operating results could be affected if it is unable to secure and develop highly capable personnel, or if employee attrition increases after hiring |
| Publication date | 24 March 2026 |
Items this document does not state (12)
Sales TargetOperating profit targetNet income targetROE targetROIC targetPayout ratio / DOE policyTreasury share acquisition policyCost of capitalSelf-assessment of PBR and share priceTotal investment planInvestment amount by sectorDate 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 timing of the ¥10 billion ARR target was changed based on business progress in FY2025.
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.