Worth reading
79Important
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
650
¥ million (operating profit forecast for the fiscal year ending March 2027)Wording
Conditional
How definitive the wording is.Contents of this document
Presentation materials for financial resultsFiscal year ending March 2026, full year9 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥4,393 million+6.8%
Operating profit¥354 million-44.6%
Ordinary income¥374 million-41.7%
Net income¥178 million-67.7%
Gross Profit Margin73 %
Operating profit margin8.1 %
Results for the three months of the current quarter
Net Sales
¥1,129 million
Year on year against the same period last year+7.3%
Operating profit
¥53 million
Year on year against the same period last year-32.0%
Ordinary income
¥68 million
Year on year against the same period last year-13.7%
Net income for the current fiscal year
¥-35 million
Full-year earnings forecast
Fiscal Period CoveredFiscal year ending March 2027
Net Sales
¥4,734 million
Operating profit
¥650 million
Ordinary income
¥652 million
Profit attributable to owners of the parent
¥484 million
Number of paid contracts
19,700 Engagements
Number of cancellations
396 Engagements
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
Revenue fell short of the initial plan, while operating profit met the planKey points of the Q&AKey questions raised by investors at the briefing and the company's answers
- Reasons for the full-year revenue shortfall against the plan: the Company set a high new customer acquisition target.
- Forecast operating profit for the fiscal year ending March 2027: improvement in the earnings structure through top-line growth and the liquidation of overseas subsidiaries, among other measures.
- Shareholder returns: the Company will continue to pay no dividend and prioritize growth investments. The Company will continue to consider share buybacks.
- Impact of AI agents: the Company will respond through a space-based billing model and through data, UI, and MCP servers.
- Liquidation of overseas subsidiaries: the Company will shift from a local-entity model to global operations centered on domestic bases.
- M&A: the Company is considering executing deals during the fiscal year ending March 2027, targeting business collaboration and adjacent fields.
Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
Full-year cost structure for the fiscal year ended March 2026
Labor Costs779
Communication expenses536
Other manufacturing costs123
Transfer to software assets-289
Personnel Expenses1,360
Advertising expenses696
Other831
Liquidation of overseas subsidiaries
Business restructuring provision98
Expected earnings improvement effect¥300–400 million
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
Communication expenses¥646 million for the full year, up 20.7% year on year, reflecting an increase in users, the introduction of efficiency tools, and higher AWS usage resulting from feature development and implementation
Advertising expenses¥566 million for the full year, down 18.7% year on year
Company-wide personnel expenses¥1,987 million for the full year, including ¥744 million in labor costs, down 3.4% year on year
New initiatives
- 正式 launch of the Backlog AI Assistant
- Promotion of the Nu Source new-business creation program
- Development of collaboration features with postalk
- Dissolution and liquidation of Nulab USA and Nulab Netherlands B.V.
- Promotion of new product development and M&A
- Release of the Backlog MCP server and support for AI agents
Key KPIsA metric the company considers important as a management benchmark.
- Number of paid contracts18,906 EngagementsYear on year against the same period last year+350 contracts
- Number of paid Backlog contracts15,676 EngagementsYear on year against the same period last year+913 contracts
- Number of paid users150 10,000 people
- Monthly churn rate (revenue basis)0.27 %
- Monthly churn rate (contract basis)1.07 %
- ARR¥4,574 million
- LTV/CAC10.9 timesYear on year against the same period last yearDown
Number of employees
207 people
As ofAs of 31 March 2026, consolidated group
Annual Dividend
Fiscal year ending March 2026¥0 per share
Forecast for the fiscal year ending March 2027¥0 per share
Acquisition of treasury shares
Approximately ¥100 million
PeriodFiscal year ending March 2026
| Item | Details |
|---|---|
| Document type | Presentation materials for financial results |
| Fiscal Period Covered | Fiscal year ending March 2026, full year |
| Net Sales | ¥4,393 million (YoY +6.8%) |
| Operating profit | ¥354 million (YoY -44.6%) |
| Ordinary income | ¥374 million (YoY -41.7%) |
| Net income | ¥178 million (YoY -67.7%) |
| Gross Profit Margin | 73 % |
| Operating profit margin | 8.1 % |
| Results for the three months of the current quarter | Net Sales ¥1,129 million / Operating profit ¥53 million / Ordinary income ¥68 million / Net income for the current fiscal year ¥-35 million |
| Full-year earnings forecast | Fiscal Period Covered Fiscal year ending March 2027 / Net Sales ¥4,734 million / Operating profit ¥650 million / Ordinary income ¥652 million / Profit attributable to owners of the parent ¥484 million / Number of paid contracts 19,700 Engagements / Number of cancellations 396 Engagements |
| Self-assessment against the plan | Revenue fell short of the initial plan, while operating profit met the plan |
| Breakdown of Factors Affecting the Change | Full-year cost structure for the fiscal year ended March 2026 Labor Costs 779 / Communication expenses 536 / Other manufacturing costs 123 / Transfer to software assets -289 / Personnel Expenses 1,360 / Advertising expenses 696 / Other 831 / Liquidation of overseas subsidiaries Business restructuring provision 98 / Expected earnings improvement effect ¥300–400 million |
| Key KPIs | Number of paid contracts 18,906 Engagements, Number of paid Backlog contracts 15,676 Engagements, Number of paid users 150 10,000 people, Monthly churn rate (revenue basis) 0.27 %, Monthly churn rate (contract basis) 1.07 %, ARR ¥4,574 million, LTV/CAC 10.9 times |
| Number of employees | 207 people |
| Assumptions Underlying the Business Outlook | Communication expenses ¥646 million for the full year, up 20.7% year on year, reflecting an increase in users, the introduction of efficiency tools, and higher AWS usage resulting from feature development and implementation / Advertising expenses ¥566 million for the full year, down 18.7% year on year / Company-wide personnel expenses ¥1,987 million for the full year, including ¥744 million in labor costs, down 3.4% year on year |
| Annual Dividend | Fiscal year ending March 2026 ¥0 per share / Forecast for the fiscal year ending March 2027 ¥0 per share |
| Acquisition of treasury shares | Amount Approximately ¥100 million / Period Fiscal year ending March 2026 |
| Key points of the Q&A | Reasons for the full-year revenue shortfall against the plan: the Company set a high new customer acquisition target., Forecast operating profit for the fiscal year ending March 2027: improvement in the earnings structure through top-line growth and the liquidation of overseas subsidiaries, among other measures., Shareholder returns: the Company will continue to pay no dividend and prioritize growth investments. The Company will continue to consider share buybacks., Impact of AI agents: the Company will respond through a space-based billing model and through data, UI, and MCP servers., Liquidation of overseas subsidiaries: the Company will shift from a local-entity model to global operations centered on domestic bases., M&A: the Company is considering executing deals during the fiscal year ending March 2027, targeting business collaboration and adjacent fields. |
| New initiatives | 正式 launch of the Backlog AI Assistant, Promotion of the Nu Source new-business creation program, Development of collaboration features with postalk, Dissolution and liquidation of Nulab USA and Nulab Netherlands B.V., Promotion of new product development and M&A, Release of the Backlog MCP server and support for AI agents |
Items this document does not state (12)
Selling, general and administrative expensesProgress against full-year forecastSegment resultsUnit price and quantity metricsNumber of stores and locationsRisk amount incorporated into the outlookMedium-term management plan targetsFinancial targetsPayout ratioCapital expendituresOrders received and order backlogMarket Size / Share
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 fell short of the plan because the Company set a new customer acquisition target above its historical performance in pursuit of renewed growth. The decline in operating profit was attributable to strategic investments in areas including AI and new products, particularly higher advertising and promotional expenses. The decline in net income was due to extraordinary losses, including a ¥98 million provision for business-structure improvements associated with the liquidation of overseas subsidiaries. The Company explained that profitability is expected to improve through cost reductions from the liquidation of overseas subsidiaries, higher profitability in the core business, and initiatives to raise prices.
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.