Worth reading
76Important
Scored from 5 of 6 sectionsDirection
Mixed performance
Direction inferred from the company’s description.Scale
14.8
Year-on-year revenue growth (%)Wording
Conditional
How definitive the wording is.Contents of this document
Financial results presentationFull fiscal year ended February 202611 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥10,626 million+14.8%
Operating profit¥592 million-9.8%
Ordinary income¥616 million-8.4%
Net income¥452 million-9.3%
Selling, general and administrative expenses¥1,214 million
Gross Profit Margin
Rate17.0%
Year on year against the same period last year△1.6pt
Operating profit margin
Rate5.6%
Year on year against the same period last year△1.5pt
Results for the three months of the current quarter
Net Sales¥2,810 million
Cloud Integration¥333 million
MSP¥630 million
Cloud license resale¥1,847 million
Full-year earnings forecast
Net Sales
¥12,516 million
Cloud Integration
¥2,835 million
MSP
¥1,439 million
Cloud license resale
¥8,241 million
Gross profit
¥2,133 million
Operating profit
¥605 million
Ordinary income
¥617 million
Net income attributable to owners of the parent
¥454 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。
Achievement rate against FY2026/02 forecasts
Net Sales93.1%
Cloud Integration78.4%
MSP93.8%
Cloud license resale99.7%
Gross profit87.1%
Operating profit80.1%
Ordinary income82.5%
Net income for the current fiscal year81.9%
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
Revenue fell short of plan, resulting in shortfalls in operating profit, ordinary profit and net profit.Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
Growth in cloud license resale and MSP, a decline in cloud integration, higher SG&A expenses following the acquisition of スカイ３６５ as a subsidiary, and increased growth investments
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
Revenue target for FY2028/02 and beyondBased on the assumptions that the impact of M&A is realized, multiple large cloud license resale contracts are secured, and multiple large SAP system projects are won
New initiatives
- Acquisition of スカイ３６５ as a subsidiary and expansion of the MSP business
- Opening of スカイ３６５'s Nha Trang, Vietnam office
- Promotion to SAP Gold Partner
- Launch of an accounting document registration and approval solution for SAP S/4HANA Cloud Public Edition
- Entering into a partnership with SNP Japan and launching BeeX Swifty Moving Service
- Launch of an SAP data extraction and analytics solution using AWS
- Obtaining SAP Analytics and Planning Specialization
Key KPIsA metric the company considers important as a management benchmark.
- Recurring revenue ratio77.0%Year on year against the same period last yearUp from 69.3%
- Cloud license resale accounts892 AccountsYear on year against the same period last year700 accounts
- Engineer ratio (consolidated)75.8%
- Leads generated at AWS Summit Japan 20253,725 EngagementsYear on year against the same period last year2x the prior-year level
- Leads generated at SAP NOW AI Tour Tokyo and the JSUG Conference2,797 Engagements
Segment results
Cloud Integration
Net Sales
¥2,446 million
Year on year against the same period last year△13.8%
MSP
Net Sales
¥1,352 million
Year on year against the same period last yearUp 51.2% year on year
Cloud license resale
Net Sales
¥6,827 million
Year on year against the same period last yearUp 23.6% year on year
Medium-term management plan targets
Revenue for the fiscal year ending February 2030¥20–22 billion
Revenue in FY2028/02¥16–17 billion
Orders received and order backlog
Order intake and order backlog: Not disclosed. Cloud integration orders totaled 205 in Q4Number of stores and locations
Opened an overseas MSP office in Nha Trang, Vietnam. Number of stores and openings/closures during the period: Not disclosedNumber of employees
Number of Employees256 people
Change during the periodStandalone basis: up 16 people, from 184 at the end of the previous fiscal year to 200 at the end of Q4
Annual Dividend
Fiscal year ended February 2026¥25.00 per share
End of period¥25.00 per share
| Item | Details |
|---|---|
| Document type | Financial results presentation |
| Fiscal Period Covered | Full fiscal year ended February 2026 |
| Net Sales | ¥10,626 million (YoY +14.8%) |
| Operating profit | ¥592 million (YoY -9.8%) |
| Ordinary income | ¥616 million (YoY -8.4%) |
| Net income | ¥452 million (YoY -9.3%) |
| Gross Profit Margin | Rate 17.0% / Year on year against the same period last year △1.6pt |
| Operating profit margin | Rate 5.6% / Year on year against the same period last year △1.5pt |
| Selling, general and administrative expenses | ¥1,214 million |
| Results for the three months of the current quarter | Net Sales ¥2,810 million / Cloud Integration ¥333 million / MSP ¥630 million / Cloud license resale ¥1,847 million |
| Full-year earnings forecast | Net Sales ¥12,516 million / Cloud Integration ¥2,835 million / MSP ¥1,439 million / Cloud license resale ¥8,241 million / Gross profit ¥2,133 million / Operating profit ¥605 million / Ordinary income ¥617 million / Net income attributable to owners of the parent ¥454 million |
| Progress against full-year forecast | Achievement rate against FY2026/02 forecasts Net Sales 93.1% / Cloud Integration 78.4% / MSP 93.8% / Cloud license resale 99.7% / Gross profit 87.1% / Operating profit 80.1% / Ordinary income 82.5% / Net income for the current fiscal year 81.9% |
| Self-assessment against the plan | Revenue fell short of plan, resulting in shortfalls in operating profit, ordinary profit and net profit. |
| Segment results | Cloud Integration Net Sales ¥2,446 million / Year on year against the same period last year △13.8% / MSP Net Sales ¥1,352 million / Year on year against the same period last year Up 51.2% year on year / Cloud license resale Net Sales ¥6,827 million / Year on year against the same period last year Up 23.6% year on year |
| Breakdown of Factors Affecting the Change | Growth in cloud license resale and MSP, a decline in cloud integration, higher SG&A expenses following the acquisition of スカイ３６５ as a subsidiary, and increased growth investments |
| Key KPIs | Indicator name Recurring revenue ratio / Value 77.0% / Year on year against the same period last year Up from 69.3%, Indicator name Cloud license resale accounts / Value 892 Accounts / Year on year against the same period last year 700 accounts, Indicator name Engineer ratio (consolidated) / Value 75.8% / Year on year against the same period last year Not disclosed, Indicator name Leads generated at AWS Summit Japan 2025 / Value 3,725 Engagements / Year on year against the same period last year 2x the prior-year level, Indicator name Leads generated at SAP NOW AI Tour Tokyo and the JSUG Conference / Value 2,797 Engagements / Year on year against the same period last year Not disclosed |
| Number of stores and locations | Opened an overseas MSP office in Nha Trang, Vietnam. Number of stores and openings/closures during the period: Not disclosed |
| Number of employees | Number of Employees 256 people / Change during the period Standalone basis: up 16 people, from 184 at the end of the previous fiscal year to 200 at the end of Q4 |
| Assumptions Underlying the Business Outlook | Revenue target for FY2028/02 and beyond Based on the assumptions that the impact of M&A is realized, multiple large cloud license resale contracts are secured, and multiple large SAP system projects are won |
| Medium-term management plan targets | Revenue for the fiscal year ending February 2030 ¥20–22 billion / Revenue in FY2028/02 ¥16–17 billion |
| Annual Dividend | Fiscal year ended February 2026 ¥25.00 per share / Interim Not disclosed / End of period ¥25.00 per share |
| Orders received and order backlog | Order intake and order backlog: Not disclosed. Cloud integration orders totaled 205 in Q4 |
| New initiatives | Acquisition of スカイ３６５ as a subsidiary and expansion of the MSP business, Opening of スカイ３６５'s Nha Trang, Vietnam office, Promotion to SAP Gold Partner, Launch of an accounting document registration and approval solution for SAP S/4HANA Cloud Public Edition, Entering into a partnership with SNP Japan and launching BeeX Swifty Moving Service, Launch of an SAP data extraction and analytics solution using AWS, Obtaining SAP Analytics and Planning Specialization |
Items this document does not state (8)
Unit price and quantity metricsRisk amount incorporated into the outlookFinancial targetsPayout ratioAcquisition of treasury sharesCapital expendituresMarket 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 was driven by cloud license resale and MSP, while cloud integration declined due to a lack of large projects. Operating profit declined because of the decrease in highly profitable cloud integration, higher SG&A expenses following the acquisition of スカイ３６５ as a subsidiary, and growth investments in personnel, marketing and overseas offices.
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.