Worth reading
64In 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
1830
¥ million (operating profit target for the fiscal year ending March 2029)Wording
Conditional
How definitive the wording is.Items stated in the management plan
FormulatedNet Sales+46.7%
基準 3,721Target5,460million (versus actual results for the fiscal year ended March 2026)
Operating profit+64.6%
基準 1,112Target1,830million (versus actual results for the fiscal year ended March 2026)
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.
Net income for the current fiscal year¥716 million (actual results for the fiscal year ended March 2026; no target stated for the fiscal year ending March 2029) → Not disclosed
ROE20.0% (actual results for the fiscal year ended March 2026) → Not disclosed
Only the target level is shown because the current level for comparison was not provided.What happened to the previous planNot disclosed → Actual results for the fiscal year ended March 2026: revenue of ¥3,721 million and operating profit of ¥1,112 million
Investment amount by sectorField Growth Investment / Amount Not disclosed, Field Acquire customer bases and technologies through M&A / Amount Not disclosed, Field Expand distribution channels through external partnerships / Amount Not disclosed
Statements about the use of capital
Payout ratio / DOE policyDuring the plan period, the company will provide shareholder returns flexibly, targeting a payout ratio of 35% to 55%, and achieve a stable and sustained level of returns with DOE of at least 6.0%.The payout ratio is the proportion of profit paid out as dividends, while DOE is the ratio of dividends to net assets.
Key initiatives
01Advancement of PDB-Platform
02Expansion of the customer base and market coverage
03Greater use of AI and reinforcement of development capabilities
04Strengthening business operations to support sustainable growth
Plan assumptionsNew lease accounting standards scheduled to take effect in April 2027, Progress in the full-scale adoption of AI technology in business operations, Growing demand for more diverse and sophisticated industrial infrastructure, The new medium-term management plan was formulated as a fixed three-year plan rather than using a rolling-plan approach
Segment targetSegment Cloud Business / Sales target Approximately 10% annual growth / Profit Target Not disclosed / Period Fiscal years ending March 2027 through March 2029, Segment Solutions Business / Sales target Approximately 20% annual growth / Profit Target Not disclosed / Period Fiscal years ending March 2027 through March 2029, Segment Companywide / Sales target ¥4,200 million for the fiscal year ending March 2027, ¥4,740 million for the fiscal year ending March 2028, and ¥5,460 million for the fiscal year ending March 2029 / Profit Target ¥1,340 million for the fiscal year ending March 2027, ¥1,510 million for the fiscal year ending March 2028, and ¥1,830 million for the fiscal year ending March 2029 / Period Fiscal years ending March 2027 through March 2029
Size of the Target MarketMarket Japanese domestic real estate / Scale Approximately ¥2,847 trillion / Source Not disclosed, Market The company’s business areas (corporate-owned and public real estate) / Scale Approximately ¥1,500 trillion / Source Prepared by the company based on the Ministry of Land, Infrastructure, Transport and Tourism, “Utilization of Public Real Estate (PRE) through Real Estate Securitization Methods” (February 2022), Market Domestic AI systems market / Scale ¥1,341.2 billion in 2024 and ¥4,187.3 billion in 2029 / Growth rate CAGR25.6％ / Source IDC Japan press release, “IDC Japan Announces Forecast for the Domestic AI Systems Market” (1 May 2025), Market Document information management products, services and solutions market / Scale ¥374.0 billion in fiscal 2025 / Growth rate CAGR9.8％ / Source “2023 Market Trends Survey for Document Information Management-Related Products and Services,” Japan Document Information Management Association, Market PropTech market (B2B) / Scale ¥713.8 billion in fiscal 2022 and ¥1,860.0 billion in fiscal 2030 / Growth rate CAGR10.9％ / Source Yano Research Institute Ltd., “2024 PropTech Market: Current Conditions and Outlook” (April 2024), Market Japan's public cloud services market / Scale ¥4,142.3 billion in 2024 and ¥8,816.4 billion in 2029 / Growth rate CAGR16.3％ / Source IDC Japan press release, “IDC Japan Announces Forecast for the Domestic Public Cloud Services Market” (20 February 2025)
Risks identified by the company
Moves by competitors, including new market entry by companies with strong financial resources and brand recognition
Adoption of the New Lease Accounting Standard
Information management, information leakage and system failures
Providing services that meet customer needs, including delays in providing such services and providing services that do not align with customer needs
Reason for revision or withdrawal
As the “foundation-building phase” of the previous medium-term management plan is taking shape, the next three years will be positioned as a “monetization phase,” emphasizing quality and advancing monetization rather than pursuing quantitative business expansion. In addition, new demand is emerging as a result of structural changes in the external environment, including AI and the application of the new lease accounting standards.
| Item | Details |
|---|---|
| Plan name | New Medium-Term Management Plan (fiscal years ending March 2027 to March 2029) |
| Plan period | Fiscal years ending March 2027 through March 2029 |
| Progress against the plan | Formulated |
| Sales Target | ¥3,721 million (versus actual results for the fiscal year ended March 2026) → ¥5,460 million (versus actual results for the fiscal year ended March 2026)（+46.7%） |
| Operating profit target | ¥1,112 million (versus actual results for the fiscal year ended March 2026) → ¥1,830 million (versus actual results for the fiscal year ended March 2026)（+64.6%） |
| Net income target | ¥716 million (actual results for the fiscal year ended March 2026; no target stated for the fiscal year ending March 2029) → Not disclosed |
| ROE target | 20.0% (actual results for the fiscal year ended March 2026) → Not disclosed |
| Payout ratio / DOE policy | During the plan period, the company will provide shareholder returns flexibly, targeting a payout ratio of 35% to 55%, and achieve a stable and sustained level of returns with DOE of at least 6.0%. |
| Investment amount by sector | Field Growth Investment / Amount Not disclosed, Field Acquire customer bases and technologies through M&A / Amount Not disclosed, Field Expand distribution channels through external partnerships / Amount Not disclosed |
| Segment target | Segment Cloud Business / Sales target Approximately 10% annual growth / Profit Target Not disclosed / Period Fiscal years ending March 2027 through March 2029, Segment Solutions Business / Sales target Approximately 20% annual growth / Profit Target Not disclosed / Period Fiscal years ending March 2027 through March 2029, Segment Companywide / Sales target ¥4,200 million for the fiscal year ending March 2027, ¥4,740 million for the fiscal year ending March 2028, and ¥5,460 million for the fiscal year ending March 2029 / Profit Target ¥1,340 million for the fiscal year ending March 2027, ¥1,510 million for the fiscal year ending March 2028, and ¥1,830 million for the fiscal year ending March 2029 / Period Fiscal years ending March 2027 through March 2029 |
| Plan assumptions | New lease accounting standards scheduled to take effect in April 2027, Progress in the full-scale adoption of AI technology in business operations, Growing demand for more diverse and sophisticated industrial infrastructure, The new medium-term management plan was formulated as a fixed three-year plan rather than using a rolling-plan approach |
| Key initiatives | Advancement of PDB-Platform, Expansion of the customer base and market coverage, Greater use of AI and reinforcement of development capabilities, Strengthening business operations to support sustainable growth |
| Results under the previous plan | Not disclosed → Actual results for the fiscal year ended March 2026: revenue of ¥3,721 million and operating profit of ¥1,112 million |
| Reason for revision or withdrawal | As the “foundation-building phase” of the previous medium-term management plan is taking shape, the next three years will be positioned as a “monetization phase,” emphasizing quality and advancing monetization rather than pursuing quantitative business expansion. In addition, new demand is emerging as a result of structural changes in the external environment, including AI and the application of the new lease accounting standards. |
| Size of the Target Market | Market Japanese domestic real estate / Scale Approximately ¥2,847 trillion / Source Not disclosed, Market The company’s business areas (corporate-owned and public real estate) / Scale Approximately ¥1,500 trillion / Source Prepared by the company based on the Ministry of Land, Infrastructure, Transport and Tourism, “Utilization of Public Real Estate (PRE) through Real Estate Securitization Methods” (February 2022), Market Domestic AI systems market / Scale ¥1,341.2 billion in 2024 and ¥4,187.3 billion in 2029 / Growth rate CAGR25.6％ / Source IDC Japan press release, “IDC Japan Announces Forecast for the Domestic AI Systems Market” (1 May 2025), Market Document information management products, services and solutions market / Scale ¥374.0 billion in fiscal 2025 / Growth rate CAGR9.8％ / Source “2023 Market Trends Survey for Document Information Management-Related Products and Services,” Japan Document Information Management Association, Market PropTech market (B2B) / Scale ¥713.8 billion in fiscal 2022 and ¥1,860.0 billion in fiscal 2030 / Growth rate CAGR10.9％ / Source Yano Research Institute Ltd., “2024 PropTech Market: Current Conditions and Outlook” (April 2024), Market Japan's public cloud services market / Scale ¥4,142.3 billion in 2024 and ¥8,816.4 billion in 2029 / Growth rate CAGR16.3％ / Source IDC Japan press release, “IDC Japan Announces Forecast for the Domestic Public Cloud Services Market” (20 February 2025) |
| Risks identified | Moves by competitors, including new market entry by companies with strong financial resources and brand recognition, Adoption of the New Lease Accounting Standard, Information management, information leakage and system failures, Providing services that meet customer needs, including delays in providing such services and providing services that do not align with customer needs |
| Publication date | 28 May 2026 |
Items this document does not state (8)
Operating profit margin targetROIC targetTreasury share acquisition policyCost of capitalSelf-assessment of PBR and share priceTotal investment planNon-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 “foundation-building phase” of the previous medium-term management plan is taking shape, while structural changes in the external environment, including the full-scale adoption of AI technology in business operations, the application of the new lease accounting standards, and the diversification and sophistication of industrial infrastructure, are causing new demand to emerge.
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