Komori
Financial Results Presentation6532BayCurrent,Inc.Information and Communications, Services and Others

Supplementary Financial Results Material for the First Quarter of the Fiscal Year Ending February 2027

In Q1 FY2027, demand emerged in the cybersecurity and defense fields in addition to DX and AI, driving a 29.9% year-on-year increase in revenue and a 19.5% increase in EBITDA. Revenue exceeded plan, while expenses also exceeded plan due to upfront investments in hiring and training and in capturing new demand. The full-year forecasts remain unchanged at ¥190,000 million in revenue and ¥66,500 million in EBITDA.

Worth reading
67In focus
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
29.9
Year-on-year change (revenue, %)
Wording
Conditional
How definitive the wording is.

Contents of this document

Supplementary materials to the earnings reportFirst quarter of the fiscal year ending February 202711 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales44,576 Millions of yen+29.9%
Results for the three months of the current quarter
Net Sales
44,576 Millions of yen+29.9%
EBITDA
14,888 Millions of yen+19.5%
Full-year earnings forecast
Net Sales
190,000 Millions of yen
Operating profit
64,800 Millions of yen
EBITDA
66,500 Millions of yen
Profit for the period
48,100 Millions of yen
EPS
¥323.79
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 Sales23.5%
EBITDA22.4%
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
Revenue exceeded plan, EBITDA was broadly in line with plan, and expenses exceeded plan
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
  • DX/AI investment by major domestic companies
    AssumptionsExpected to remain on an expansionary trend over the next 3–5 years
  • Revenue contribution from the DX/AI fields
    AssumptionsApproximately 50–60% of total revenue
  • Revenue contribution from the cybersecurity and defense fields
    AssumptionsApproximately 10–20% of total revenue by FY2028
  • Utilization rate
    Assumptions80–90%, with the full-year average expected to be around 85%
  • EBITDA margin
    Assumptions30–40%, with the full-year average expected to be around 35%
New initiatives
  • Started a strategic collaboration with IFS Japan
  • Aims to hire and train approximately 200 IFS consultants
  • Train 200 cybersecurity specialists
  • Joined GenAI/SUM as a strategic partner and held the GenAI/SUM Executive Round
Key KPIsA metric the company considers important as a management benchmark.
  • Number of projects21.2 Year on year %
  • Revenue per consultant5.9 Year on year %
  • Number of consultants5,676 People
    Year on year against the same period last year+19.0%
  • Total employees7,812 People
    Year on year against the same period last year+28.4%
Medium-term management plan targets
Target valueFY2029 revenue of ¥250,000 million and an EBITDA margin of 30–40%
Target fiscal yearFY2029
Comparison with actual resultsFY2026 actual revenue of ¥148,332 million, EBITDA of ¥52,125 million and an EBITDA margin of 35.1%; FY2027 forecast revenue of ¥190,000 million, EBITDA of ¥66,500 million and an EBITDA margin of 35.0%
Financial targets
EBITDA margin of 30–40% (FY2027 forecast: 35.0%; FY2026 actual: 35.1%)
Market Size / Share
  • Domestic consulting market size¥2 trillion
  • Domestic consulting market growth rate10 Annual growth rate %
  • Number of consultants in Japan7 10,000 people
  • Domestic DX investment¥14.4 trillion
  • Domestic AI investment1,440 Hundreds of millions of yen
Number of employees
Number of Employees7,812 People
Hiring planApproximately 710 new graduates are expected to join the company during the fiscal year, including administrative staff, with around 550 expected to be counted as consultants by Q3
Annual Dividend
Annual130 Yen per share
Interim65 Yen per share
End of period65 Yen per share
Payout ratio
Targeting 40% on an IFRS basis
Acquisition of treasury shares
The company plans to return surplus cash to shareholders, primarily through share buybacks. The amount, number of shares and specific period covered by the acquisition framework are Not disclosed
Contents of this document
ItemDetails
Document typeSupplementary materials to the earnings report
Fiscal Period CoveredFirst quarter of the fiscal year ending February 2027
Net Sales44,576 Millions of yen (YoY +29.9%)
Results for the three months of the current quarterNet Sales 44,576 Millions of yen (YoY +29.9%) / EBITDA 14,888 Millions of yen (YoY +19.5%)
Full-year earnings forecastNet Sales 190,000 Millions of yen / Operating profit 64,800 Millions of yen / EBITDA 66,500 Millions of yen / Profit for the period 48,100 Millions of yen / EPS ¥323.79
Progress against full-year forecastNet Sales 23.5% / EBITDA 22.4%
Self-assessment against the planRevenue exceeded plan, EBITDA was broadly in line with plan, and expenses exceeded plan
Key KPIsIndicator name Number of projects / Value 21.2 Year on year (%), Indicator name Revenue per consultant / Value 5.9 Year on year (%), Indicator name Number of consultants / Value 5,676 People / Year on year against the same period last year +19.0%, Indicator name Total employees / Value 7,812 People / Year on year against the same period last year +28.4%
Number of employeesNumber of Employees 7,812 People / Change during the period Not disclosed / Hiring plan Approximately 710 new graduates are expected to join the company during the fiscal year, including administrative staff, with around 550 expected to be counted as consultants by Q3
Assumptions Underlying the Business OutlookItem DX/AI investment by major domestic companies / Assumptions Expected to remain on an expansionary trend over the next 3–5 years, Item Revenue contribution from the DX/AI fields / Assumptions Approximately 50–60% of total revenue, Item Revenue contribution from the cybersecurity and defense fields / Assumptions Approximately 10–20% of total revenue by FY2028, Item Utilization rate / Assumptions 80–90%, with the full-year average expected to be around 85%, Item EBITDA margin / Assumptions 30–40%, with the full-year average expected to be around 35%
Medium-term management plan targetsTarget value FY2029 revenue of ¥250,000 million and an EBITDA margin of 30–40% / Target fiscal year FY2029 / Comparison with actual results FY2026 actual revenue of ¥148,332 million, EBITDA of ¥52,125 million and an EBITDA margin of 35.1%; FY2027 forecast revenue of ¥190,000 million, EBITDA of ¥66,500 million and an EBITDA margin of 35.0%
Financial targetsEBITDA margin of 30–40% (FY2027 forecast: 35.0%; FY2026 actual: 35.1%)
Annual DividendAnnual 130 Yen per share / Interim 65 Yen per share / End of period 65 Yen per share
Payout ratioTargeting 40% on an IFRS basis
Acquisition of treasury sharesThe company plans to return surplus cash to shareholders, primarily through share buybacks. The amount, number of shares and specific period covered by the acquisition framework are Not disclosed
Market Size / ShareItem Domestic consulting market size / Value ¥2 trillion, Item Domestic consulting market growth rate / Value 10 Annual growth rate (%), Item Number of consultants in Japan / Value 7 10,000 people, Item Domestic DX investment / Value ¥14.4 trillion, Item Domestic AI investment / Value 1,440 Hundreds of millions of yen
New initiativesStarted a strategic collaboration with IFS Japan, Aims to hire and train approximately 200 IFS consultants, Train 200 cybersecurity specialists, Joined GenAI/SUM as a strategic partner and held the GenAI/SUM Executive Round
Items this document does not state (14)
Operating profitOrdinary incomeNet incomeGross Profit MarginOperating profit marginSelling, general and administrative expensesSegment resultsBreakdown of Factors Affecting the ChangeUnit price and quantity metricsNumber of stores and locationsRisk amount incorporated into the outlookCapital 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 demand for DX and AI, new demand emerged in the cybersecurity and defense fields against a backdrop of increased risks following the emergence of frontier AI and increased defense spending. The number of projects increased and their value-added content rose, resulting in revenue per consultant exceeding plan. Meanwhile, expenses exceeded plan due to aggressive investments in hiring and training and upfront investments to capture new demand.

How to read this page

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Supplementary Financial Results Material for the First Quarter of the Fiscal Year Ending February 2027 | BayCurrent,Inc. (6532) timely disclosure | Komori