Worth reading
46Recurring
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
170375
Thousands of yen (operating income)Wording
Conditional
How definitive the wording is.Contents of this document
Earnings presentationSecond quarter of the fiscal year ending December 202610 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥1,298,807 thousand+16.3%
Operating profit¥170,375 thousand+149.9%
Ordinary income¥181,034 thousand+159.2%
Net income¥112,244 thousand+146.2%
Gross Profit Margin71 %
Operating profit margin13.1 %
Selling, general and administrative expenses¥751,600 thousand
Full-year earnings forecast
Net Sales
¥3,109,128 thousand
Gross profit
¥2,106,340 thousand
Selling, general and administrative expenses
¥1,793,975 thousand
Operating profit
¥312,364 thousand
Ordinary income
¥312,369 thousand
Net income for the current fiscal year
¥207,673 thousand
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。
Net Sales41.8 %
Gross profit43.7 %
Selling, general and administrative expenses41.9 %
Operating profit54.3 %
Ordinary income58 %
Net income for the current fiscal year54 %
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
Progressing steadily and in line with planBreakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
- Agent fees associated with increased hiring
- Higher communications expenses aimed at improving service quality
The company identifies the factors but does not state the amount attributable to each one.
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
- AssumptionsMandatory application of the new lease accounting standard to large companies from April 2027FiguresFY2026 upper-end targets of ¥3.55 billion in revenue, 76 companies adopting the new lease-related offering, and 38 companies beginning monthly billing
- AssumptionsWinning large-scale strategic AI projectsFigures¥100 million–¥400 million
New initiatives
- Focus Steward on expense matching, payment matching, and compliance with the new lease accounting standard
- Begin selling Steward for the new lease accounting standard through the SAP Store
- Form a business partnership with DCP to improve accounting operations using tokenized deposits
- Promote efforts to win large-scale strategic AI projects
Key KPIsA metric the company considers important as a management benchmark.
- Average revenue per account (ARPA)¥1,047 thousand/month
- Monthly churn rate0.84 %
- Annual recurring revenue (ARR)¥2,262,060 thousand
- EBITDA¥263,902 thousand
- ROE14.8 %Year on year against the same period last year+2.6pt
- ROIC15 %Year on year against the same period last year+2.8pt
- Companies adopting the service180 companiesYear on year against the same period last yearUp 26 companies over the past year
Unit price and quantity metricsThese figures show sales broken down by price and volume.
Average revenue per account (ARPA)¥1,047 thousand per month
Customer Base180 customer companies (as of the end of June 2026)
ARR calculation formulaARPA × number of customers × 12 months
Medium-term management plan targets
Target fiscal year2028
Net Sales¥10 billion
Operating profit margin10%
Financial targets
Actual results
ROE14.8%
ROIC15.0%
Equity ratio53.9%
Market Size / Share
Japan
TAM¥4.5 trillion
SAM¥75.5 billion
United States
TAMApproximately ¥19.3 trillion
SAMApproximately ¥167.4 billion
ShareNo. 1 in revenue and market share in the accounting AI platform segment and in invoices and receipts among AI OCR vendors
Number of employees
Number of Employees80 people
Change during the periodIncreased from 74 people at the end of December 2025 to 80 people at the end of June 2026 (Q1: -1, Q2: +7)
Hiring planPlans to increase headcount by 14, from 74 to 88 people
| Item | Details |
|---|---|
| Document type | Earnings presentation |
| Fiscal Period Covered | Second quarter of the fiscal year ending December 2026 |
| Net Sales | ¥1,298,807 thousand (YoY +16.3%) |
| Operating profit | ¥170,375 thousand (YoY +149.9%) |
| Ordinary income | ¥181,034 thousand (YoY +159.2%) |
| Net income | ¥112,244 thousand (YoY +146.2%) |
| Gross Profit Margin | 71 % |
| Operating profit margin | 13.1 % |
| Selling, general and administrative expenses | ¥751,600 thousand |
| Full-year earnings forecast | Net Sales ¥3,109,128 thousand / Gross profit ¥2,106,340 thousand / Selling, general and administrative expenses ¥1,793,975 thousand / Operating profit ¥312,364 thousand / Ordinary income ¥312,369 thousand / Net income for the current fiscal year ¥207,673 thousand |
| Progress against full-year forecast | Net Sales 41.8 % / Gross profit 43.7 % / Selling, general and administrative expenses 41.9 % / Operating profit 54.3 % / Ordinary income 58 % / Net income for the current fiscal year 54 % |
| Self-assessment against the plan | Progressing steadily and in line with plan |
| Breakdown of Factors Affecting the Change | Factors Agent fees associated with increased hiring / Amount Not disclosed, Factors Higher communications expenses aimed at improving service quality / Amount Not disclosed |
| Key KPIs | Indicator name Average revenue per account (ARPA) / Value ¥1,047 thousand/month / Year on year against the same period last year Not disclosed, Indicator name Monthly churn rate / Value 0.84 % / Year on year against the same period last year Not disclosed, Indicator name Annual recurring revenue (ARR) / Value ¥2,262,060 thousand / Year on year against the same period last year Not disclosed, Indicator name EBITDA / Value ¥263,902 thousand / Year on year against the same period last year Not disclosed, Indicator name ROE / Value 14.8 % / Year on year against the same period last year +2.6pt, Indicator name ROIC / Value 15 % / Year on year against the same period last year +2.8pt, Indicator name Companies adopting the service / Value 180 companies / Year on year against the same period last year Up 26 companies over the past year |
| Unit price and quantity metrics | Average revenue per account (ARPA) ¥1,047 thousand per month / Customer Base 180 customer companies (as of the end of June 2026) / ARR calculation formula ARPA × number of customers × 12 months |
| Number of employees | Number of Employees 80 people / Change during the period Increased from 74 people at the end of December 2025 to 80 people at the end of June 2026 (Q1: -1, Q2: +7) / Hiring plan Plans to increase headcount by 14, from 74 to 88 people |
| Assumptions Underlying the Business Outlook | Assumptions Mandatory application of the new lease accounting standard to large companies from April 2027 / Figures FY2026 upper-end targets of ¥3.55 billion in revenue, 76 companies adopting the new lease-related offering, and 38 companies beginning monthly billing, Assumptions Winning large-scale strategic AI projects / Figures ¥100 million–¥400 million |
| Medium-term management plan targets | Target fiscal year 2028 / Net Sales ¥10 billion / Operating profit margin 10% |
| Financial targets | ROE Not disclosed / ROIC Not disclosed / Actual results ROE 14.8% / ROIC 15.0% / Equity ratio 53.9% |
| Market Size / Share | Japan TAM ¥4.5 trillion / SAM ¥75.5 billion / United States TAM Approximately ¥19.3 trillion / SAM Approximately ¥167.4 billion / Share No. 1 in revenue and market share in the accounting AI platform segment and in invoices and receipts among AI OCR vendors |
| New initiatives | Focus Steward on expense matching, payment matching, and compliance with the new lease accounting standard, Begin selling Steward for the new lease accounting standard through the SAP Store, Form a business partnership with DCP to improve accounting operations using tokenized deposits, Promote efforts to win large-scale strategic AI projects |
Items this document does not state (10)
Results for the three months of the current quarterSegment resultsNumber of stores and locationsRisk amount incorporated into the outlookAnnual DividendPayout ratioAcquisition of treasury sharesCapital 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.In addition to higher revenue, operating profit increased year on year. The company cited higher agent fees associated with increased hiring and higher communications expenses aimed at improving service quality as factors behind the quarterly decline in profit.
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.