Worth reading
71In 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
505
¥ million (year-on-year change in operating profit)Wording
Conditional
How definitive the wording is.Contents of this document
Earnings presentationFiscal year ending March 202614 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥13,276 million+7.9%
Operating profit¥0.6 million
Ordinary income¥-73 million
Net income¥-60 million net income attributable to owners of the parent
Selling, general and administrative expenses¥3,795 million
Gross Profit Margin28.6%; year-on-year change not disclosed
Operating profit marginApproximately 0.0%; year-on-year change not disclosed
Results for the three months of the current quarterQuarterly standalone revenue trends are presented. In Q4 FY3/26, recurring revenue was ¥2,355 million and transaction-based revenue was ¥552 million.
Full-year earnings forecastFiscal year ending March 2027: revenue of ¥16,535 million, operating income of ¥831 million, ordinary income of ¥737 million, net income attributable to owners of the parent of ¥600 million, EBITDA of ¥3,491 million, and ROE of 8.0%.
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。Achievement against the revised forecast for the fiscal year ended March 2026: consolidated revenue 101.0%, recurring revenue 100.4%, center usage fees 100.1%, QR and barcode settlement fees 100.5%, registration and setup fees 103.4%, transaction-based revenue 103.4%, payment terminal sales 102.0%, development revenue 108.5%, Other 100.5%, web space 101.0%, and Four J 100.0%.
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
Although the initial forecast was not achieved, operating income returned to profitability against the revised forecast because of higher revenue and cost containment.Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
Standalone operating income bridge: recurring gross profit +¥497 million, transaction-based gross profit (terminals and development revenue) +¥72 million, transaction-based gross profit (Other) -¥210 million, indirect costs -¥86 million, relocation impact -¥313 million, company-wide selling, general and administrative expenses -¥2,896 million, and company-wide operating income +¥522 million (standalone figures shown in the chart).
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
Expansion of the QR and barcode payment market, strong QR and barcode settlement fees, recognition of terminal sales revenue that shifted between periods, and growth in the subsidiaries' existing businesses and the resulting synergies. Numerical assumptions were not disclosed.New initiatives
The intercorporate payments service "Shiharai Kakumei" (B2B payments service) was launched on 3 March 2026. The company partnered with NEC to introduce electronic money payments at beverage vending machines, expanded its terminal sales partnership with Toyota Finance, began accepting orders for the new "UT-X11" terminal for large chain stores, and added JR West's "Wesmo!" and the Sapporo-area electronic money service "SAPICA".Key KPIsA metric the company considers important as a management benchmark.
Payment processing volume (GMV) of ¥5.5 trillion (+13.6% year on year), 2.8 billion payment transactions (+12.0%), 1.21 million active connected terminals (+110,000 from the previous fiscal year-end), 43 supported brands, and a variable-fee revenue ratio of 47.3% in Q4 FY3/26.Unit price and quantity metricsThese figures show sales broken down by price and volume.
1.21 million active connected terminals, terminal revenue per unit +5% year on year, payment processing volume of ¥5.5 trillion, and 2.8 billion payment transactions. The combination of average customer spend and customer numbers was not disclosed.Segment results
By service and revenue category: recurring revenue of ¥9,262 million (+13.9% year on year), transaction-based revenue of ¥2,440 million (-13.1%), web space revenue of ¥1,431 million (+5.1%), and フォー・ジェイ revenue of ¥142 million (no comparable figure for the previous year). Profit figures by category were not disclosed.Medium-term management plan targets
Consolidated revenue of ¥100 billion in fiscal 2030. The indicative breakdown is ¥40 billion from the payments business and ¥60 billion from the information processing business.Financial targets
Forecast ROE of 8.0% for the fiscal year ending March 2027. Other financial targets and results were not disclosed.Market Size / Share
Domestic cashless payment value in 2025: ¥162.7 trillion; TMN payment processing volume: ¥5.5 trillion; TMN share: 1.1%. The intercorporate payments market for small and medium-sized enterprises was ¥280 trillion, and the retail IT investment market was ¥2.4 trillion.Number of stores and locations
Locations comprise the head office, Kansai office, and Niigata office. The number of stores and store openings and closures were not disclosed.Number of employees
296 employees (as of 31 March 2026, standalone). Changes during the fiscal year and the hiring plan were not disclosed.Annual Dividend
Not disclosed. Dividends for FY3/28 onward are under consideration.Acquisition of treasury shares
In June 2025, the company borrowed ¥4 billion to fund share repurchases. The number of shares and repurchase period under the authorization, as well as the actual repurchase amount, were not disclosed.| Item | Details |
|---|---|
| Document type | Earnings presentation |
| Fiscal Period Covered | Fiscal year ending March 2026 |
| Net Sales | ¥13,276 million (YoY +7.9%) |
| Operating profit | ¥0.6 million |
| Ordinary income | ¥-73 million |
| Net income | ¥-60 million (net income attributable to owners of the parent) |
| Gross Profit Margin | 28.6%; year-on-year change not disclosed |
| Operating profit margin | Approximately 0.0%; year-on-year change not disclosed |
| Selling, general and administrative expenses | ¥3,795 million |
| Results for the three months of the current quarter | Quarterly standalone revenue trends are presented. In Q4 FY3/26, recurring revenue was ¥2,355 million and transaction-based revenue was ¥552 million. |
| Full-year earnings forecast | Fiscal year ending March 2027: revenue of ¥16,535 million, operating income of ¥831 million, ordinary income of ¥737 million, net income attributable to owners of the parent of ¥600 million, EBITDA of ¥3,491 million, and ROE of 8.0%. |
| Progress against full-year forecast | Achievement against the revised forecast for the fiscal year ended March 2026: consolidated revenue 101.0%, recurring revenue 100.4%, center usage fees 100.1%, QR and barcode settlement fees 100.5%, registration and setup fees 103.4%, transaction-based revenue 103.4%, payment terminal sales 102.0%, development revenue 108.5%, Other 100.5%, web space 101.0%, and Four J 100.0%. |
| Self-assessment against the plan | Although the initial forecast was not achieved, operating income returned to profitability against the revised forecast because of higher revenue and cost containment. |
| Segment results | By service and revenue category: recurring revenue of ¥9,262 million (+13.9% year on year), transaction-based revenue of ¥2,440 million (-13.1%), web space revenue of ¥1,431 million (+5.1%), and フォー・ジェイ revenue of ¥142 million (no comparable figure for the previous year). Profit figures by category were not disclosed. |
| Breakdown of Factors Affecting the Change | Standalone operating income bridge: recurring gross profit +¥497 million, transaction-based gross profit (terminals and development revenue) +¥72 million, transaction-based gross profit (Other) -¥210 million, indirect costs -¥86 million, relocation impact -¥313 million, company-wide selling, general and administrative expenses -¥2,896 million, and company-wide operating income +¥522 million (standalone figures shown in the chart). |
| Key KPIs | Payment processing volume (GMV) of ¥5.5 trillion (+13.6% year on year), 2.8 billion payment transactions (+12.0%), 1.21 million active connected terminals (+110,000 from the previous fiscal year-end), 43 supported brands, and a variable-fee revenue ratio of 47.3% in Q4 FY3/26. |
| Unit price and quantity metrics | 1.21 million active connected terminals, terminal revenue per unit +5% year on year, payment processing volume of ¥5.5 trillion, and 2.8 billion payment transactions. The combination of average customer spend and customer numbers was not disclosed. |
| Number of stores and locations | Locations comprise the head office, Kansai office, and Niigata office. The number of stores and store openings and closures were not disclosed. |
| Number of employees | 296 employees (as of 31 March 2026, standalone). Changes during the fiscal year and the hiring plan were not disclosed. |
| Assumptions Underlying the Business Outlook | Expansion of the QR and barcode payment market, strong QR and barcode settlement fees, recognition of terminal sales revenue that shifted between periods, and growth in the subsidiaries' existing businesses and the resulting synergies. Numerical assumptions were not disclosed. |
| Medium-term management plan targets | Consolidated revenue of ¥100 billion in fiscal 2030. The indicative breakdown is ¥40 billion from the payments business and ¥60 billion from the information processing business. |
| Financial targets | Forecast ROE of 8.0% for the fiscal year ending March 2027. Other financial targets and results were not disclosed. |
| Annual Dividend | Not disclosed. Dividends for FY3/28 onward are under consideration. |
| Acquisition of treasury shares | In June 2025, the company borrowed ¥4 billion to fund share repurchases. The number of shares and repurchase period under the authorization, as well as the actual repurchase amount, were not disclosed. |
| Market Size / Share | Domestic cashless payment value in 2025: ¥162.7 trillion; TMN payment processing volume: ¥5.5 trillion; TMN share: 1.1%. The intercorporate payments market for small and medium-sized enterprises was ¥280 trillion, and the retail IT investment market was ¥2.4 trillion. |
| New initiatives | The intercorporate payments service "Shiharai Kakumei" (B2B payments service) was launched on 3 March 2026. The company partnered with NEC to introduce electronic money payments at beverage vending machines, expanded its terminal sales partnership with Toyota Finance, began accepting orders for the new "UT-X11" terminal for large chain stores, and added JR West's "Wesmo!" and the Sapporo-area electronic money service "SAPICA". |
Items this document does not state (5)
Risk amount incorporated into the outlookPayout ratioCapital expendituresOrders received and order backlogKey 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.Operating income improved because of higher revenue, a significant decrease in outsourced services expenses following completion of the data center relocation, and efforts to contain selling, general and administrative expenses and other costs. The revenue shortfall was attributed to the year-on-year impact of a large terminal sales project and "Other" revenue failing to exceed expectations.
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.