Worth reading
68In focus
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
—
Displayed only when the document provides numerical figures.Wording
Avoiding a definitive answer
How definitive the wording is.Items stated in the management plan
Partially revisedNet Sales0.0%
基準 2,400Target2,400million
Operating profit+0.0%
基準 2,028Target2,029million
Net income for the current fiscal year+0.0%
基準 2,028Target2,029million
Each line is the climb from the baseline the document states to the target it sets. The slope is scaled against the largest climb in this document. The increase shown by the dotted line is calculated from the two reported figures because the company did not provide the amount of growth.
What happened to the previous planNet Sales 1,900 / Operating profit 50 / Net income for the current fiscal year 30 → Net Sales 1,721 / Operating profit -97 / Net income for the current fiscal year -151（Net Sales ▲9.4% / Operating profit ▲294.0% / Net income for the current fiscal year ▲603.3%）
Key initiatives
01Acquire projects involving the expansion, renewal and stable operation of existing systems
02Maintain an organization with in-depth knowledge of diverse wireless standards, including 5G and millimeter wave, capable of making optimal proposals
03Expand the disaster-prevention information distribution system to local governments outside Ibaraki Prefecture
04Provide technical support for railway apps operated by private railway companies and others
05Strengthen cooperation with business services related to transportation IC cards
06Conduct demonstrations of digital tickets at railway companies other than Nankai on an ongoing basis and establish a path to commercialization
07Strengthen Konpurin (ID photo service), including new offerings
08Strengthen the new Apa-raku Wi-Fi business and scale back hospital Wi-Fi, where sales efficiency is low
09Strengthen the MMS and TNT businesses in cooperation with subsidiaries
10Commercialize the Ouchi Monitor service using electricity data
Plan assumptionsMake growth in the Solutions business, including subsidiary MMS Marketing, the growth engine, Plan to pursue a recovery in the Wireless Innovation and Mobility Innovation businesses, Reduce the cost ratio to 54% insofar as possible, Selling, general and administrative expenses of ¥780 million in the fiscal year ending March 2027, ¥800 million in the fiscal year ending March 2028, and ¥820 million in the fiscal year ending March 2029, Use an exchange rate of ¥160 to the US dollar when converting market size into yen
Segment targetBusiness area Wireless Innovation / Sales Target Fiscal year ending March 2027 600 / Fiscal year ending March 2028 650 / Fiscal year ending March 2029 700 / Profit Target Not disclosed, Business area Mobility Innovation / Sales Target Fiscal year ending March 2027 100 / Fiscal year ending March 2028 100 / Fiscal year ending March 2029 200 / Profit Target Not disclosed, Business area Solutions / Sales Target Fiscal year ending March 2027 1,200 / Fiscal year ending March 2028 1,250 / Fiscal year ending March 2029 1,500 / Profit Target Not disclosed, Business area MMS Marketing (within Solutions) / Sales Target Fiscal year ending March 2027 600 / Fiscal year ending March 2028 650 / Fiscal year ending March 2029 800 / Profit Target Operating profit of at least ¥100 million in the fiscal year ending March 2027
Size of the Target MarketMarket Wi-Fi market / Scale $2,370.70 million in 2024 (approximately ¥379.3 billion), $6,175.20 million in 2032 (approximately ¥988.0 billion) / Growth rate CAGR12.6％ / Source H＆I Global Reseach, Market Wi-Fi market / Scale $2,348.40 million in 2025 (approximately ¥375.7 billion), $5,989.30 million in 2034 (approximately ¥958.2 billion) / Growth rate CAGR10.96％ / Source IMARC Group, Market IT investment related to social infrastructure, including railways / Scale Approximately ¥600–700 billion annually / Growth rate Not disclosed / Source Research published by Yano Research Institute Ltd. on 20 December 2023, Market Corporate promotional spending / Scale ¥15 trillion annually / Growth rate Not disclosed / Source Not disclosed
Risks identified by the company
Delisting decision on the Growth Market
Trends among major customers
Recruitment and Development of Human Resources
Mitigation of seasonal factors
Competitive relationship
Procurement difficulties due to external factors
Reason for revision or withdrawal
Although the Solutions business was broadly in line with plan in the fiscal year ending March 2026, the Wireless Innovation business fell significantly short, and the launch of the Mobility Innovation business was also delayed. The resulting deviation made it necessary to revise the previous plan. At the same time, the business environment for the increasingly important Solutions business is improving, prompting a revision of the existing plan.
| Item | Details |
|---|---|
| Plan name | Business Plan and Growth Potential |
| Plan period | Fiscal years ending March 2027 to March 2029 |
| Progress against the plan | Partially revised |
| Sales Target | 2,400 (fiscal year ending March 2028) → 2,000 (fiscal year ending March 2028), 2,400 (fiscal year ending March 2029)（▲16.7% (fiscal year ending March 2028)） |
| Operating profit target | 250 (fiscal year ending March 2028) → 100 (fiscal year ending March 2028), 250 (fiscal year ending March 2029)（▲60.0% (fiscal year ending March 2028)） |
| Net income target | 180 (fiscal year ending March 2028) → 60 (fiscal year ending March 2028), 180 (fiscal year ending March 2029)（▲66.7% (fiscal year ending March 2028)） |
| Segment target | Business area Wireless Innovation / Sales Target Fiscal year ending March 2027 600 / Fiscal year ending March 2028 650 / Fiscal year ending March 2029 700 / Profit Target Not disclosed, Business area Mobility Innovation / Sales Target Fiscal year ending March 2027 100 / Fiscal year ending March 2028 100 / Fiscal year ending March 2029 200 / Profit Target Not disclosed, Business area Solutions / Sales Target Fiscal year ending March 2027 1,200 / Fiscal year ending March 2028 1,250 / Fiscal year ending March 2029 1,500 / Profit Target Not disclosed, Business area MMS Marketing (within Solutions) / Sales Target Fiscal year ending March 2027 600 / Fiscal year ending March 2028 650 / Fiscal year ending March 2029 800 / Profit Target Operating profit of at least ¥100 million in the fiscal year ending March 2027 |
| Plan assumptions | Make growth in the Solutions business, including subsidiary MMS Marketing, the growth engine, Plan to pursue a recovery in the Wireless Innovation and Mobility Innovation businesses, Reduce the cost ratio to 54% insofar as possible, Selling, general and administrative expenses of ¥780 million in the fiscal year ending March 2027, ¥800 million in the fiscal year ending March 2028, and ¥820 million in the fiscal year ending March 2029, Use an exchange rate of ¥160 to the US dollar when converting market size into yen |
| Key initiatives | Acquire projects involving the expansion, renewal and stable operation of existing systems, Maintain an organization with in-depth knowledge of diverse wireless standards, including 5G and millimeter wave, capable of making optimal proposals, Expand the disaster-prevention information distribution system to local governments outside Ibaraki Prefecture, Provide technical support for railway apps operated by private railway companies and others, Strengthen cooperation with business services related to transportation IC cards, Conduct demonstrations of digital tickets at railway companies other than Nankai on an ongoing basis and establish a path to commercialization, Strengthen Konpurin (ID photo service), including new offerings, Strengthen the new Apa-raku Wi-Fi business and scale back hospital Wi-Fi, where sales efficiency is low, Strengthen the MMS and TNT businesses in cooperation with subsidiaries, Commercialize the Ouchi Monitor service using electricity data |
| Results under the previous plan | Net Sales 1,900 / Operating profit 50 / Net income for the current fiscal year 30 → Net Sales 1,721 / Operating profit -97 / Net income for the current fiscal year -151（Net Sales ▲9.4% / Operating profit ▲294.0% / Net income for the current fiscal year ▲603.3%） |
| Reason for revision or withdrawal | Although the Solutions business was broadly in line with plan in the fiscal year ending March 2026, the Wireless Innovation business fell significantly short, and the launch of the Mobility Innovation business was also delayed. The resulting deviation made it necessary to revise the previous plan. At the same time, the business environment for the increasingly important Solutions business is improving, prompting a revision of the existing plan. |
| Size of the Target Market | Market Wi-Fi market / Scale $2,370.70 million in 2024 (approximately ¥379.3 billion), $6,175.20 million in 2032 (approximately ¥988.0 billion) / Growth rate CAGR12.6％ / Source H＆I Global Reseach, Market Wi-Fi market / Scale $2,348.40 million in 2025 (approximately ¥375.7 billion), $5,989.30 million in 2034 (approximately ¥958.2 billion) / Growth rate CAGR10.96％ / Source IMARC Group, Market IT investment related to social infrastructure, including railways / Scale Approximately ¥600–700 billion annually / Growth rate Not disclosed / Source Research published by Yano Research Institute Ltd. on 20 December 2023, Market Corporate promotional spending / Scale ¥15 trillion annually / Growth rate Not disclosed / Source Not disclosed |
| Risks identified | Delisting decision on the Growth Market, Trends among major customers, Recruitment and Development of Human Resources, Mitigation of seasonal factors, Competitive relationship, Procurement difficulties due to external factors |
| Publication date | June 2026 |
Items this document does not state (11)
Operating profit margin targetROE targetROIC targetPayout ratio / DOE policyTreasury share acquisition policyCost of capitalSelf-assessment of PBR and share priceTotal investment planInvestment amount by sectorNon-financial targetsDate 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 fiscal year ending March 2026 deviated from the previous plan due to the failure to secure a major project in the Wireless Innovation business, delays in launching the Mobility Innovation business, and deterioration in the cost of hardware projects. Meanwhile, the business environment for the Solutions business is improving, and the existing plan was revised in anticipation of growth in the Solutions business, including MMS, and a recovery in market conditions.
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