Worth reading
74In focus
0–100. This measures how worthwhile something is to read, not how good or bad the company is.Direction
Deterioration
Direction inferred from the company’s description.Scale
-438
¥ million (versus the previous plan's FY2026 revenue target)Wording
Conditional
How definitive the wording is.Items stated in the management plan
Partially revisedNet SalesNot disclosed → ¥4,000 million
Operating profitNot disclosed → ¥1,120 million
Operating profit marginNot disclosed → 28 ％
ROE19.5 % (FY2025 actual) → Not disclosed
Only the target level is shown because the current level for comparison was not provided.What happened to the previous planRevenue 2,320, operating profit 519, net income 352 → Revenue 2,333, operating profit 556, net income 405（Revenue +0.6%, operating profit +7.1%, net income +15.1%）+0.6%Calculated from the two disclosed figures
Statements about the use of capital
Payout ratio / DOE policyThe company uses a payout ratio of 20% or more as a guideline and aims to increase dividends in line with earnings growth. It began paying dividends in the fiscal year ending March 2026, with a dividend of ¥15.00 per share. The DOE policy is not disclosed.The payout ratio is the proportion of profit paid out as dividends, while DOE is the ratio of dividends to net assets.
Treasury share acquisition policyFrom February to May 2025, the company set a maximum of 120,000 shares and ¥120 million. From December 2025 to March 2026, it set a maximum of 160,000 shares and ¥300 million. Actual results were 110,200 shares and ¥119 million, and 160,000 shares and ¥299 million, respectively.
Key initiatives
01Expand SOC services for Microsoft 365 and increase sales of systems integration support, including license sales
02Increase profitability by developing SOC services into AI analyst services and strengthen delivery capacity
03Expand and provide existing services for the Ministry of Economy, Trade and Industry's supply chain security assessment program
04Upgrade to a competitive SOC infrastructure that makes maximum use of AI to achieve greater sophistication and labor efficiency
05Provide services in areas of strength to customers and partners as low-touch services
06Expand the partner base capable of increasing sales of solutions in areas of strength
07Unique solutions with global appeal
08Pledge to provide free support (forensics/incident handling) in the event of a major incident
Plan assumptionsJapan's domestic network security business market was ¥710.03 billion in FY2024 and is projected to reach ¥1.1756 trillion in FY2030, representing a CAGR (2030/2024) of 6.2%. The product market CAGR is 6.3%, and the services market CAGR is 6.0%. The global endpoint security market was $14.5104 billion in 2024, with year-on-year growth of 17.6%.
Segment targetSegment SOC / FY2026 ¥2,037 million / FY2027 ¥2,447 million / FY2028 ¥2,975 million, Segment Consulting / FY2026 ¥702 million / FY2027 ¥853 million / FY2028 ¥880 million
Non-financial targetsIndicator name Number of employees / Target value 87 (FY2026), 98 (FY2027), 106 (FY2028) / Timing Each fiscal year, Indicator name Percentage of revenue generated through sales partners / Target value 70％ / Timing FY2028, Indicator name Number of sales partners / Target value At least 5 times / Timing Not disclosed
Size of the Target MarketJapan's domestic network security business market: ¥710.03 billion in FY2024, ¥1.1756 trillion in FY2030, and a CAGR (2030/2024) of 6.2%. Source: Fuji Chimera Research Institute, 2025 Network Security Business Comprehensive Market Research <Market Edition>. Global endpoint security market: $14.5104 billion in 2024, up 17.6% year on year. Source: IDC's Semiannual Software Tracker, 2025.
Reason for revision or withdrawal
Revised revenue and other figures from FY2026 onward due to insufficient accumulation of recurring revenue from Microsoft product monitoring and partner sales.
| Item | Details |
|---|---|
| Plan name | Medium-Term Management Plan (FY2026-FY2028) |
| Plan period | FY2026～FY2028 |
| Progress against the plan | Partially revised |
| Sales Target | Not disclosed → ¥4,000 million |
| Operating profit target | Not disclosed → ¥1,120 million |
| Operating profit margin target | Not disclosed → 28 ％ |
| ROE target | 19.5 % (FY2025 actual) → Not disclosed |
| Payout ratio / DOE policy | The company uses a payout ratio of 20% or more as a guideline and aims to increase dividends in line with earnings growth. It began paying dividends in the fiscal year ending March 2026, with a dividend of ¥15.00 per share. The DOE policy is not disclosed. |
| Treasury share acquisition policy | From February to May 2025, the company set a maximum of 120,000 shares and ¥120 million. From December 2025 to March 2026, it set a maximum of 160,000 shares and ¥300 million. Actual results were 110,200 shares and ¥119 million, and 160,000 shares and ¥299 million, respectively. |
| Segment target | Segment SOC / FY2026 ¥2,037 million / FY2027 ¥2,447 million / FY2028 ¥2,975 million, Segment Consulting / FY2026 ¥702 million / FY2027 ¥853 million / FY2028 ¥880 million |
| Non-financial targets | Indicator name Number of employees / Target value 87 (FY2026), 98 (FY2027), 106 (FY2028) / Timing Each fiscal year, Indicator name Percentage of revenue generated through sales partners / Target value 70％ / Timing FY2028, Indicator name Number of sales partners / Target value At least 5 times / Timing Not disclosed |
| Plan assumptions | Japan's domestic network security business market was ¥710.03 billion in FY2024 and is projected to reach ¥1.1756 trillion in FY2030, representing a CAGR (2030/2024) of 6.2%. The product market CAGR is 6.3%, and the services market CAGR is 6.0%. The global endpoint security market was $14.5104 billion in 2024, with year-on-year growth of 17.6%. |
| Key initiatives | Expand SOC services for Microsoft 365 and increase sales of systems integration support, including license sales, Increase profitability by developing SOC services into AI analyst services and strengthen delivery capacity, Expand and provide existing services for the Ministry of Economy, Trade and Industry's supply chain security assessment program, Upgrade to a competitive SOC infrastructure that makes maximum use of AI to achieve greater sophistication and labor efficiency, Provide services in areas of strength to customers and partners as low-touch services, Expand the partner base capable of increasing sales of solutions in areas of strength, Unique solutions with global appeal, Pledge to provide free support (forensics/incident handling) in the event of a major incident |
| Results under the previous plan | Revenue 2,320, operating profit 519, net income 352 → Revenue 2,333, operating profit 556, net income 405（Revenue +0.6%, operating profit +7.1%, net income +15.1%） |
| Reason for revision or withdrawal | Revised revenue and other figures from FY2026 onward due to insufficient accumulation of recurring revenue from Microsoft product monitoring and partner sales. |
| Size of the Target Market | Japan's domestic network security business market: ¥710.03 billion in FY2024, ¥1.1756 trillion in FY2030, and a CAGR (2030/2024) of 6.2%. Source: Fuji Chimera Research Institute, 2025 Network Security Business Comprehensive Market Research <Market Edition>. Global endpoint security market: $14.5104 billion in 2024, up 17.6% year on year. Source: IDC's Semiannual Software Tracker, 2025. |
| Publication date | 13 May 2026 |
Items this document does not state (8)
Net income targetROIC targetCost of capitalSelf-assessment of PBR and share priceTotal investment planInvestment amount by sectorRisks identifiedDate 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.Revised revenue and other figures from FY2026 onward due to insufficient accumulation of recurring revenue from Microsoft product monitoring and partner sales.
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.