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Earnings presentation materials4447PBsystems,Inc.Information and Communications, Services and Others

Supplementary Financial Results Materials for the Fiscal Year Ending September 2026

For the fiscal year ended September 2026, revenue increased 3.2% year on year and operating profit increased 75.4%, but both revenue and operating profit fell short of the full-year plan. For the fiscal year ending September 2027, revenue of ¥3,000 million and operating profit of ¥268 million are planned.

Worth reading
67In 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
75.4
Year-on-year change in operating profit (%)
Wording
Conditional
How definitive the wording is.

Contents of this document

Supplementary materials to the earnings summaryFiscal year ending September 202610 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥2,719 million+3.2%
Operating profit¥218 million+75.4%
Ordinary income¥228 million+79.4%
Net income¥165 million+93.5%
Gross Profit Margin28.0%
Operating profit margin8.1%
Selling, general and administrative expenses¥543 million
Results for the three months of the current quarterRevenue of ¥895 million and operating profit of ¥123 million (fourth quarter of the fiscal year ended September 2026)
Full-year earnings forecast
Net Sales
¥3,000 million
Operating profit
¥268 million
Ordinary income
¥276 million
Net income for the current fiscal year
¥187 million
ROE
15.9%
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。For the plan for the fiscal year ending September 2027, quarterly progress plans are shown for revenue and operating profit. Revenue: 1Q 19.3%, 2Q 38.7%, 3Q 41.3%, 4Q 66.7%. Operating profit: 1Q negative, 2Q 14.1%, 3Q 39.7%, with the 4Q progress plan shown. For actual results for the fiscal year ended September 2026, the corresponding percentages against the forecast are shown as 90.6% for revenue, 89.0% for operating profit, 90.8% for ordinary profit, and 100.3% for net profit.
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
Missed budget
Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
  • Deferral of projects scheduled for revenue recognition because of delayed hardware deliveries
  • Customers postponing system upgrades
  • Delays in budgeting and construction schedules for projects for local governments and overseas facilities
  • Increase in engineer personnel expenses and other costs¥58.5 million
  • Increase in personnel expenses included in selling, general and administrative expenses¥2.4 million
  • Decrease in other expenses¥-32 million
New initiatives
  • Proposing Cloudflare's cloud-based WAF to existing customers
  • Entering into a partnership agreement with Synology Japan
  • Launching the VDI Security Emergency Rescue (VSER) service
  • Expanding MetaWalkers' participation in disaster-prevention and other events
  • Expanding the Tokyo Sales Department and strengthening its sales staff in the fiscal year ending September 2027
  • Modernizing business systems through the use of AI
  • Introducing and testing workstations for local LLMs/SLMs
Key KPIsA metric the company considers important as a management benchmark.
  • Order value¥2,734 million
    Year on year against the same period last year+8.7%
  • Engineers' billable utilization rate68.7%
    Year on year against the same period last yearImproved from 54.7% in the fiscal year ended September 2025
  • Security-related revenue¥193 million
  • Number of security-related customers74 companies
  • Dependence on 1 major customer10.6%
    Year on year against the same period last yearDown from 33% in the fiscal year ended September 2024
Segment results
Secure Cloud Systems Business
Net Sales
¥2,582 million+1.2%
Segment Profit or Loss
¥217 million+50.5%
Operating profit margin
8.4%
Year-on-year change (points)+2.8 percentage points
Emotional systems business
Net Sales
¥136 million+67.9%
Segment Profit or Loss
¥1 million
Change from the same period of the previous year+¥21 million
Operating profit margin
1.4%
Medium-term management plan targets
ROE
Target30%
Target fiscal yearFiscal year ending September 2030
Actual results14.4% actual for the fiscal year ended September 2026, versus 14.0% planned
Financial targets
ROE
Target30%
Target fiscal yearFiscal year ending September 2030
Actual results14.4%
Orders received and order backlog
Orders received
¥2,734 million
Order backlog
Total
¥7.28 100 million+2.3%
Secure Cloud Systems Business
¥7.06 100 million+14.5%
Emotional systems business
¥0.22 100 million-76.8%
Number of employees
Number of Employees81 people (fiscal year ended September 2026)
Change during the periodUp 8 people from the previous fiscal year
Hiring planAn increase of 10 people is planned for the fiscal year ending September 2027; 6 candidates received job offers against a plan to hire 8 new graduates in 2027
Annual Dividend
Fiscal year ending September 2026
Annual¥22.5 per share
Interim¥10
End of period¥12.5
Forecast for the fiscal year ending September 2027
Annual¥22.5–23
Interim¥10
End of period¥12.5–13
Contents of this document
ItemDetails
Document typeSupplementary materials to the earnings summary
Fiscal Period CoveredFiscal year ending September 2026
Net Sales¥2,719 million (YoY +3.2%)
Operating profit¥218 million (YoY +75.4%)
Ordinary income¥228 million (YoY +79.4%)
Net income¥165 million (YoY +93.5%)
Gross Profit Margin28.0%
Operating profit margin8.1%
Selling, general and administrative expenses¥543 million
Results for the three months of the current quarterRevenue of ¥895 million and operating profit of ¥123 million (fourth quarter of the fiscal year ended September 2026)
Full-year earnings forecastNet Sales ¥3,000 million / Operating profit ¥268 million / Ordinary income ¥276 million / Net income for the current fiscal year ¥187 million / ROE 15.9%
Progress against full-year forecastFor the plan for the fiscal year ending September 2027, quarterly progress plans are shown for revenue and operating profit. Revenue: 1Q 19.3%, 2Q 38.7%, 3Q 41.3%, 4Q 66.7%. Operating profit: 1Q negative, 2Q 14.1%, 3Q 39.7%, with the 4Q progress plan shown. For actual results for the fiscal year ended September 2026, the corresponding percentages against the forecast are shown as 90.6% for revenue, 89.0% for operating profit, 90.8% for ordinary profit, and 100.3% for net profit.
Self-assessment against the planMissed budget
Segment resultsSecure Cloud Systems Business Net Sales ¥2,582 million (YoY +1.2%) / Segment Profit or Loss ¥217 million (YoY +50.5%) / Operating profit margin 8.4% / Emotional systems business Net Sales ¥136 million (YoY +67.9%) / Segment Profit or Loss ¥1 million / Operating profit margin 1.4%
Breakdown of Factors Affecting the ChangeFactors Deferral of projects scheduled for revenue recognition because of delayed hardware deliveries / Amount Not disclosed, Factors Customers postponing system upgrades / Amount Not disclosed, Factors Delays in budgeting and construction schedules for projects for local governments and overseas facilities / Amount Not disclosed, Factors Increase in engineer personnel expenses and other costs / Amount ¥58.5 million, Factors Increase in personnel expenses included in selling, general and administrative expenses / Amount ¥2.4 million, Factors Decrease in other expenses / Amount ¥-32 million
Key KPIsIndicator name Order value / Value ¥2,734 million / Year on year against the same period last year +8.7%, Indicator name Engineers' billable utilization rate / Value 68.7% / Year on year against the same period last year Improved from 54.7% in the fiscal year ended September 2025, Indicator name Security-related revenue / Value ¥193 million / Year on year against the same period last year Not disclosed, Indicator name Number of security-related customers / Value 74 companies / Year on year against the same period last year Not disclosed, Indicator name Dependence on 1 major customer / Value 10.6% / Year on year against the same period last year Down from 33% in the fiscal year ended September 2024
Number of employeesNumber of Employees 81 people (fiscal year ended September 2026) / Change during the period Up 8 people from the previous fiscal year / Hiring plan An increase of 10 people is planned for the fiscal year ending September 2027; 6 candidates received job offers against a plan to hire 8 new graduates in 2027
Medium-term management plan targetsROE Target 30% / Target fiscal year Fiscal year ending September 2030 / Actual results 14.4% actual for the fiscal year ended September 2026, versus 14.0% planned
Financial targetsROE Target 30% / Target fiscal year Fiscal year ending September 2030 / Actual results 14.4%
Annual DividendFiscal year ending September 2026 Annual ¥22.5 per share / Interim ¥10 / End of period ¥12.5 / Forecast for the fiscal year ending September 2027 Annual ¥22.5–23 / Interim ¥10 / End of period ¥12.5–13
Orders received and order backlogOrders received ¥2,734 million / Order backlog Total ¥7.28 100 million (YoY +2.3%) / Secure Cloud Systems Business ¥7.06 100 million (YoY +14.5%) / Emotional systems business ¥0.22 100 million (YoY -76.8%)
New initiativesProposing Cloudflare's cloud-based WAF to existing customers, Entering into a partnership agreement with Synology Japan, Launching the VDI Security Emergency Rescue (VSER) service, Expanding MetaWalkers' participation in disaster-prevention and other events, Expanding the Tokyo Sales Department and strengthening its sales staff in the fiscal year ending September 2027, Modernizing business systems through the use of AI, Introducing and testing workstations for local LLMs/SLMs
Items this document does not state (9)
Unit price and quantity metricsNumber of stores and locationsAssumptions Underlying the Business OutlookRisk amount incorporated into the outlookPayout 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.

The shortfall against the plan for the fiscal year ended September 2026 was due to customers postponing system upgrades because of hardware delivery delays and price increases, delays in budgeting and construction schedules for projects for local governments and overseas facilities, and issues in managing the sales structure, project progress and order probability. The increase in profit was attributed to strengthening service projects, bringing junior engineers up to full productivity sooner, and increasing implementation revenue.

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Supplementary Financial Results Materials for the Fiscal Year Ending September 2026 | PBsystems,Inc. (4447) timely disclosure | Komori