Worth reading
65In 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
2
Decrease in the ROE target (percentage points)Wording
Avoiding a definitive answer
How definitive the wording is.Items stated in the management plan
Partially revisedNet Sales+24.5%
基準 13,276Target16,535million
Operating profit+0.0%
基準 2,026Target2,027million
Net income for the current fiscal year+0.0%
基準 2,026Target2,027million
ROE0.0pt
基準 2,027Target2,027%
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. For metrics expressed as percentages, differences are shown in percentage points (pt).The increase shown by the dotted line is calculated from the two reported figures because the company did not provide the amount of growth.
What happened to the previous planNet Sales 13,144 / Operating profit -63 / Profit attributable to owners of the parent -124 / EBITDA 2,441 → Net Sales 13,276 / Operating profit 0.6 / Profit attributable to owners of the parent -60 / EBITDA 2,591
Total investment planApproximately ¥1.7 billion (approximately ¥1.05 billion in investments to strengthen the business foundation plus approximately ¥650 million in business growth investments)
Investment amount by sectorField Investment to strengthen the operating base / Amount Approximately ¥1.05 billion, Field Business growth investments / Amount Approximately ¥650 million, Field Improvement and new development of information processing, and other initiatives / Amount Approximately ¥240 million, Field Other investments related to development and other initiatives / Amount Approximately ¥400 million
Statements about the use of capital
Payout ratio / DOE policyThe company will consider dividends from the fiscal year ending March 2028 onward. Numerical targets for the payout ratio and DOE: not disclosed.The payout ratio is the proportion of profit paid out as dividends, while DOE is the ratio of dividends to net assets.
Key initiatives
01Measures to expand the merchant base
02Collaboration initiatives with other payment providers
03Expansion of the vending machine and payment terminal markets and business domains
04Expansion of payment volumes
05Expansion of payment brands
06Promotion of upselling and cross-selling initiatives
07Expansion of the information processing domain
08Pursuit of proactive M&A
09Capture of non-linear growth through M&A
10Steady growth in the existing payment services business
Plan assumptionsExpansion of the QR and barcode payment market, Recognition of revenue from terminal sales deferred from the original reporting period, Absence of data center relocation costs, Existing payment businesses are expected to grow at a CAGR of around 10%
Segment targetSegment Recurring income / Sales Target ¥10,679 million / Profit Target Not disclosed, Segment Transaction-based revenue / Sales Target ¥3,778 million / Profit Target Not disclosed, Segment Web Space / Sales Target ¥1,577 million / Profit Target Not disclosed, Segment Four-Jay / Sales Target ¥499 million / Profit Target Not disclosed
Size of the Target MarketMarket Domestic cashless payment value in 2025 / Scale ¥162 trillion / Source Ministry of Economy, Trade and Industry, “Cashless Payment Ratio in 2025,” 31 March 2026, Market Domestic cashless payment ratio / Scale 58.0% in 2025, 65% in 2030, with an ultimate target of 80% / Source Ministry of Economy, Trade and Industry; Nomura Research Institute,Ltd., Market Smart payment market in 2031 / Scale Approximately ¥243 trillion / Source Nomura Research Institute,Ltd. press release, 16 March 2026, Market Business-to-business cashless payment value / Scale ¥5 trillion / Source Not disclosed, Market Business-to-business payments market among small and medium-sized enterprises / Scale ¥280 trillion / Source Yano Research Institute, “FY2022 Project Report on the Optimization of the Transaction and Service Environment,” March 2023, Market Retail IT investment / Scale ¥2.4 trillion / Source Retail sales of ¥163 trillion × IT investment ratio of 1.65%, Market Manufacturers’ promotional and marketing expenses / Scale ¥13 trillion / Source Advertising expenditure in FY2022 + wholesale sales of ¥431 trillion × IT investment ratio of 1.46%
Risks identified by the company
Changes in cashless payment usage patterns could reduce electronic money usage in the future, resulting in lower transaction volumes, fewer new projects, and fewer connected terminals.
An increase in new entrants due to the proliferation of QR and barcode payments and other factors could change the competitive environment and affect business performance.
Reason for revision or withdrawal
The materials disclosed on 27 June 2025 forecast net income of ¥349 million for the fiscal year ended March 2026, but actual net income was a loss of ¥60 million. Accordingly, the target figures for the fiscal year ending March 2027 were also revised.
| Item | Details |
|---|---|
| Plan name | Matters Concerning the Business Plan and Growth Potential |
| Plan period | Actual results for the fiscal year ended March 2026 to FY2030 (desired state) |
| Progress against the plan | Partially revised |
| Sales Target | 13,276 (actual results for the fiscal year ended March 2026) → 16,535 (forecast for the fiscal year ending March 2027)（+24.5%） |
| Operating profit target | 0.6 (actual results for the fiscal year ended March 2026) → 831 (forecast for the fiscal year ending March 2027) |
| Net income target | -60 (actual results for the fiscal year ended March 2026) → 600 (forecast for the fiscal year ending March 2027) |
| ROE target | 10.0% (previously disclosed target for the fiscal year ending March 2027) → 8.0% (target for the fiscal year ending March 2027)（△20.0%） |
| Payout ratio / DOE policy | The company will consider dividends from the fiscal year ending March 2028 onward. Numerical targets for the payout ratio and DOE: not disclosed. |
| Total investment plan | Approximately ¥1.7 billion (approximately ¥1.05 billion in investments to strengthen the business foundation plus approximately ¥650 million in business growth investments) |
| Investment amount by sector | Field Investment to strengthen the operating base / Amount Approximately ¥1.05 billion, Field Business growth investments / Amount Approximately ¥650 million, Field Improvement and new development of information processing, and other initiatives / Amount Approximately ¥240 million, Field Other investments related to development and other initiatives / Amount Approximately ¥400 million |
| Segment target | Segment Recurring income / Sales Target ¥10,679 million / Profit Target Not disclosed, Segment Transaction-based revenue / Sales Target ¥3,778 million / Profit Target Not disclosed, Segment Web Space / Sales Target ¥1,577 million / Profit Target Not disclosed, Segment Four-Jay / Sales Target ¥499 million / Profit Target Not disclosed |
| Plan assumptions | Expansion of the QR and barcode payment market, Recognition of revenue from terminal sales deferred from the original reporting period, Absence of data center relocation costs, Existing payment businesses are expected to grow at a CAGR of around 10% |
| Key initiatives | Measures to expand the merchant base, Collaboration initiatives with other payment providers, Expansion of the vending machine and payment terminal markets and business domains, Expansion of payment volumes, Expansion of payment brands, Promotion of upselling and cross-selling initiatives, Expansion of the information processing domain, Pursuit of proactive M&A, Capture of non-linear growth through M&A, Steady growth in the existing payment services business |
| Results under the previous plan | Net Sales 13,144 / Operating profit -63 / Profit attributable to owners of the parent -124 / EBITDA 2,441 → Net Sales 13,276 / Operating profit 0.6 / Profit attributable to owners of the parent -60 / EBITDA 2,591 |
| Reason for revision or withdrawal | The materials disclosed on 27 June 2025 forecast net income of ¥349 million for the fiscal year ended March 2026, but actual net income was a loss of ¥60 million. Accordingly, the target figures for the fiscal year ending March 2027 were also revised. |
| Size of the Target Market | Market Domestic cashless payment value in 2025 / Scale ¥162 trillion / Source Ministry of Economy, Trade and Industry, “Cashless Payment Ratio in 2025,” 31 March 2026, Market Domestic cashless payment ratio / Scale 58.0% in 2025, 65% in 2030, with an ultimate target of 80% / Source Ministry of Economy, Trade and Industry; Nomura Research Institute,Ltd., Market Smart payment market in 2031 / Scale Approximately ¥243 trillion / Source Nomura Research Institute,Ltd. press release, 16 March 2026, Market Business-to-business cashless payment value / Scale ¥5 trillion / Source Not disclosed, Market Business-to-business payments market among small and medium-sized enterprises / Scale ¥280 trillion / Source Yano Research Institute, “FY2022 Project Report on the Optimization of the Transaction and Service Environment,” March 2023, Market Retail IT investment / Scale ¥2.4 trillion / Source Retail sales of ¥163 trillion × IT investment ratio of 1.65%, Market Manufacturers’ promotional and marketing expenses / Scale ¥13 trillion / Source Advertising expenditure in FY2022 + wholesale sales of ¥431 trillion × IT investment ratio of 1.46% |
| Risks identified | Changes in cashless payment usage patterns could reduce electronic money usage in the future, resulting in lower transaction volumes, fewer new projects, and fewer connected terminals., An increase in new entrants due to the proliferation of QR and barcode payments and other factors could change the competitive environment and affect business performance. |
| Publication date | 26 June 2026 |
Items this document does not state (7)
Operating profit margin targetROIC targetTreasury share acquisition policyCost of capitalSelf-assessment of PBR and share priceNon-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 company expects higher sales and profits in the fiscal year ending March 2027, citing strong QR and barcode settlement fees amid the expansion of the QR and barcode payment market, the recognition of revenue from terminal sales that were deferred from the original reporting period, and the absence of data center relocation costs. The ROE target was revised because net income for the fiscal year ended March 2026 was an actual loss of ¥60 million, compared with the previous forecast of ¥349 million.
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