Worth reading
80Important
Scored from 5 of 6 sectionsDirection
Neutral
Direction inferred from the company’s description.Scale
—
Displayed only when the document provides numerical figures.Wording
Conditional
How definitive the wording is.Contents of this document
Summary of Q&AFirst quarter of the fiscal year ending December 202611 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Operating profit margin
Rate10% in 2023, 17% in 2024 and 24% in 2025. The company aims for approximately 20% to 25% over the medium to long term.
What the company explained in this material
Key points of the Q&AKey questions raised by investors at the briefing and the company's answers
Growth investments and the progress of new businesses, adoption of the Receivables Collection Robot, the strategy for achieving sales growth of more than 30%, M&A policy, operating margin targets, shareholder returns, the unchanged full-year forecast, reasons for the decrease in cost of sales, segment profit, competitive advantages, market size, churn rates, usage volumes and average customer spending, personnel challenges, and the response to the abolition of bills and checks.Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
Factors behind the decrease in cost of sales: lower depreciation expenses resulting from a decrease in software intangible assets. Server costs increased slightly as the business expanded.
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
The plan assumes that the new businesses will achieve annual profitability within 5 years and eliminate accumulated losses within 10 years. Other numerical assumptions are Not disclosed.New initiatives
The Receivables Collection Robot was launched in March 2026. The company is developing 3 new businesses, including RBF and cross-border remittance DX. It is investing in new businesses, existing businesses and M&A.Key KPIsA metric the company considers important as a management benchmark.
- Company-wide churn rate0.73 %
- Subscription Pay churn rate0.85 %
- Invoice Management Robot churn rate0.64 %
- Target churn rate0.6〜0.7
- Actual ROE45 Approximately %
- Market size CAGR (receivables collection)32.6 %
- Market size CAGR (cross-border remittance DX)28.4 %
Unit price and quantity metricsThese figures show sales broken down by price and volume.
The payment value processed by Subscription Pay, the number of invoices issued by the Invoice Management Robot and the number of receivables collected by the Receivables Collection Robot affect usage-based fees and average customer spending.Medium-term management plan targets
Operating margin of approximately 20% to 25% and ROE of at least 25%. The target year is Not disclosed.Financial targets
ROE target of at least 25%; approximately 45% in the previous year's results.Market Size / Share
CAGR of 32.6% for the receivables collection market and 28.4% for the cross-border remittance DX market.Payout ratio
The company intends to steadily increase its payout ratio, but a specific numerical target is Not disclosed.Acquisition of treasury shares
In February 2025, the company conducted a share buyback of more than 3% of total shares issued. The amount, number of shares and period for the current buyback are Not disclosed.| Item | Details |
|---|---|
| Document type | Summary of Q&A |
| Fiscal Period Covered | First quarter of the fiscal year ending December 2026 |
| Operating profit margin | Rate 10% in 2023, 17% in 2024 and 24% in 2025. The company aims for approximately 20% to 25% over the medium to long term. / Year-on-year change (points) Not disclosed |
| Breakdown of Factors Affecting the Change | Factors behind the decrease in cost of sales: lower depreciation expenses resulting from a decrease in software intangible assets. Server costs increased slightly as the business expanded. |
| Key KPIs | Indicator name Company-wide churn rate / Value 0.73 % / Year on year against the same period last year Not disclosed, Indicator name Subscription Pay churn rate / Value 0.85 % / Year on year against the same period last year Not disclosed, Indicator name Invoice Management Robot churn rate / Value 0.64 % / Year on year against the same period last year Not disclosed, Indicator name Target churn rate / Value 0.6〜0.7 / Year on year against the same period last year Not disclosed, Indicator name Actual ROE / Value 45 Approximately % / Year on year against the same period last year Not disclosed, Indicator name Market size CAGR (receivables collection) / Value 32.6 % / Year on year against the same period last year Not disclosed, Indicator name Market size CAGR (cross-border remittance DX) / Value 28.4 % / Year on year against the same period last year Not disclosed |
| Unit price and quantity metrics | The payment value processed by Subscription Pay, the number of invoices issued by the Invoice Management Robot and the number of receivables collected by the Receivables Collection Robot affect usage-based fees and average customer spending. |
| Assumptions Underlying the Business Outlook | The plan assumes that the new businesses will achieve annual profitability within 5 years and eliminate accumulated losses within 10 years. Other numerical assumptions are Not disclosed. |
| Medium-term management plan targets | Operating margin of approximately 20% to 25% and ROE of at least 25%. The target year is Not disclosed. |
| Financial targets | ROE target of at least 25%; approximately 45% in the previous year's results. |
| Payout ratio | The company intends to steadily increase its payout ratio, but a specific numerical target is Not disclosed. |
| Acquisition of treasury shares | In February 2025, the company conducted a share buyback of more than 3% of total shares issued. The amount, number of shares and period for the current buyback are Not disclosed. |
| Market Size / Share | CAGR of 32.6% for the receivables collection market and 28.4% for the cross-border remittance DX market. |
| Key points of the Q&A | Growth investments and the progress of new businesses, adoption of the Receivables Collection Robot, the strategy for achieving sales growth of more than 30%, M&A policy, operating margin targets, shareholder returns, the unchanged full-year forecast, reasons for the decrease in cost of sales, segment profit, competitive advantages, market size, churn rates, usage volumes and average customer spending, personnel challenges, and the response to the abolition of bills and checks. |
| New initiatives | The Receivables Collection Robot was launched in March 2026. The company is developing 3 new businesses, including RBF and cross-border remittance DX. It is investing in new businesses, existing businesses and M&A. |
Items this document does not state (17)
Net SalesOperating profitOrdinary incomeNet incomeGross Profit MarginSelling, general and administrative expensesResults for the three months of the current quarterFull-year earnings forecastProgress against full-year forecastSelf-assessment against the planSegment resultsNumber of stores and locationsNumber of employeesRisk amount incorporated into the outlookAnnual DividendCapital expendituresOrders received and order backlog
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 company explained that, among its new businesses, it launched the Receivables Collection Robot in March 2026 and is also investing in RBF and cross-border remittance DX. It attributed the decrease in cost of sales mainly to lower depreciation expenses resulting from a decrease in software intangible assets. It also explained that it had invested largely as planned, except for some unspent advertising expenses, as the reason for leaving its full-year earnings outlook unchanged.
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.