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
490
¥ million (year-on-year change in operating profit/loss)Wording
Conditional
How definitive the wording is.Contents of this document
Financial results presentationFiscal year ended February 202613 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥2,585 million+1.3%
Operating profit¥252 million
Net income¥173 million
Selling, general and administrative expenses¥637 million, SG&A-to-sales ratio of 24.6%
Gross Profit MarginYear-on-year change disclosed (cost ratio improved by 2.2 percentage points, from 68.6% to 66.5%). Gross profit margin: not disclosed
Operating profit margin9.8%; year-on-year increase of 3.5 percentage points (the previous fiscal year's 6.3% was calculated excluding the impact of goodwill impairment loss)
Results for the three months of the current quarterThe quarterly trend chart presents standalone quarterly revenue, cost of revenue, SG&A expenses and other items for the fiscal year ended February 2026. However, aggregate figures in a standalone quarterly income statement format are not disclosed
Full-year earnings forecast
Revenue
¥2,757 million
Operating profit
¥355 million
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。
Revenue94.1% (actual revenue against the forecast of ¥2,746 million for the fiscal year ended February 2026)
Operating profit101.9% (actual operating profit against the forecast of ¥247 million)
Profit for the period attributable to owners of the parent114.7% (actual profit attributable to owners of the parent against the forecast of ¥151 million)
Revenue achievement rate against the forecast for the fiscal year ending February 202725.9%
What the company explained in this material
Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
- Revenue: MSR up 2.8%, SaaS down 18.7%, consulting and other businesses up 8.1%
- Cost of revenue: down 1.9% year on year. Lower MSR production costs and tighter control of product procurement and outsourcing expenses were factors behind the decrease, while higher depreciation expenses from future investments were a factor behind the increase
- SG&A expenses: down 2.2% year on year. Reductions in travel and transportation expenses, entertainment expenses, and the provision for doubtful accounts were factors behind the decrease, while higher depreciation expenses from future investments were a factor behind the increase
- MSR gross margin: improved by 4.6 percentage points. Monitor incentive ratio down 1.1 percentage points, personnel expense ratio down 1.4 percentage points, and outsourcing expense ratio down 2.1 percentage points
- Average selling price: up 7.7% year on year
New initiatives
- Business expansion centered on the proprietary consumer experience data platform "CX Grid"
- Reducing report-checking costs through company-wide use of AI
- Reducing monitor assignment costs through ID integration with LINE and ongoing improvements to the new monitor website
- Expanding the scope of CX Grid beyond customer service improvement to marketing and product development
- A proposal was submitted to transfer ¥56,974,714 from other capital surplus to retained earnings brought forward to offset the deficit
Key KPIsA metric the company considers important as a management benchmark.
- Domestic monitor base62 10,000 people
- Annual surveys conducted20 ten thousand items
- Volume of report comments1,400 Characters
- Customer Retention Rate92 %
- Annual increase in monitor base2 10,000 people
Unit price and quantity metricsThese figures show sales broken down by price and volume.
- Average selling price: up 7.7% year on year
- The company plans to make increasing customer spend per account the centerpiece of its growth model
Segment results
MSR
SalesUp 2.8% year on year (regular surveys up 5.8%; overseas-related surveys down 7.4%)
SaaS
SalesDown 18.7% year on year (team surveys down 1.1%)
Consulting and other businesses
SalesUp 8.1% year on year (regular consulting up 2.4%; subsidies and grants consulting up 94.6%)
Medium-term management plan targets
Revenue
Target fiscal yearFiscal year ending February 2030
Target value¥3.7 billion
Operating profit
Target fiscal yearFiscal year ending February 2030
Target value¥610 million
Operating profit margin
Actual results9%
Target17%
Financial targets
ROE
Minimum level10%
Average and long-term targets15%
Cumulative total payout ratio
Target100% (Japanese GAAP, non-consolidated, during the period of the medium-term management plan)
Market Size / Share
Market share figure: not disclosed. The company cited 620,000 monitors as one of Japan's largest monitor assetsOrders received and order backlog
Orders receivedDown 2.0% year on year (specific amount not disclosed)
Opening order backlog¥714 million for the fiscal year ending February 2027, up 1.6% from the current fiscal year
Opening direct-profit order backlogUp 6.1% from the current fiscal year (specific amount not disclosed)
Number of employees
Headcount and hiring plans: not disclosed (the company referred to making its expanded workforce fully productive)Annual Dividend
¥0 for the fiscal year ending February 2027 (interim ¥0, year-end ¥0). The company also stated that it would pay no dividends for the fiscal year ended February 2026Payout ratio
Target payout ratio of 20% under IFRS (consolidated) and 30% under Japanese GAAP (non-consolidated). The company also disclosed a target cumulative total payout ratio of 100%Acquisition of treasury shares
Specific acquisition limit, number of shares, and period: not disclosed. The company stated its policy of proceeding with share buybacks| Item | Details |
|---|---|
| Document type | Financial results presentation |
| Fiscal Period Covered | Fiscal year ended February 2026 |
| Net Sales | ¥2,585 million (YoY +1.3%) |
| Operating profit | ¥252 million |
| Net income | ¥173 million |
| Gross Profit Margin | Year-on-year change disclosed (cost ratio improved by 2.2 percentage points, from 68.6% to 66.5%). Gross profit margin: not disclosed |
| Operating profit margin | 9.8%; year-on-year increase of 3.5 percentage points (the previous fiscal year's 6.3% was calculated excluding the impact of goodwill impairment loss) |
| Selling, general and administrative expenses | ¥637 million, SG&A-to-sales ratio of 24.6% |
| Results for the three months of the current quarter | The quarterly trend chart presents standalone quarterly revenue, cost of revenue, SG&A expenses and other items for the fiscal year ended February 2026. However, aggregate figures in a standalone quarterly income statement format are not disclosed |
| Full-year earnings forecast | Revenue ¥2,757 million / Operating profit ¥355 million / Profit for the period attributable to owners of the parent Not disclosed |
| Progress against full-year forecast | Revenue 94.1% (actual revenue against the forecast of ¥2,746 million for the fiscal year ended February 2026) / Operating profit 101.9% (actual operating profit against the forecast of ¥247 million) / Profit for the period attributable to owners of the parent 114.7% (actual profit attributable to owners of the parent against the forecast of ¥151 million) / Revenue achievement rate against the forecast for the fiscal year ending February 2027 25.9% |
| Segment results | MSR Sales Up 2.8% year on year (regular surveys up 5.8%; overseas-related surveys down 7.4%) / SaaS Sales Down 18.7% year on year (team surveys down 1.1%) / Consulting and other businesses Sales Up 8.1% year on year (regular consulting up 2.4%; subsidies and grants consulting up 94.6%) |
| Breakdown of Factors Affecting the Change | Revenue: MSR up 2.8%, SaaS down 18.7%, consulting and other businesses up 8.1%, Cost of revenue: down 1.9% year on year. Lower MSR production costs and tighter control of product procurement and outsourcing expenses were factors behind the decrease, while higher depreciation expenses from future investments were a factor behind the increase, SG&A expenses: down 2.2% year on year. Reductions in travel and transportation expenses, entertainment expenses, and the provision for doubtful accounts were factors behind the decrease, while higher depreciation expenses from future investments were a factor behind the increase, MSR gross margin: improved by 4.6 percentage points. Monitor incentive ratio down 1.1 percentage points, personnel expense ratio down 1.4 percentage points, and outsourcing expense ratio down 2.1 percentage points, Average selling price: up 7.7% year on year |
| Key KPIs | Indicator name Domestic monitor base / Value 62 10,000 people / Year on year against the same period last year Not disclosed, Indicator name Annual surveys conducted / Value 20 ten thousand items / Year on year against the same period last year Not disclosed, Indicator name Volume of report comments / Value 1,400 Characters / Year on year against the same period last year Not disclosed, Indicator name Customer Retention Rate / Value 92 % / Year on year against the same period last year Not disclosed, Indicator name Annual increase in monitor base / Value 2 10,000 people / Year on year against the same period last year Not disclosed |
| Unit price and quantity metrics | Average selling price: up 7.7% year on year, The company plans to make increasing customer spend per account the centerpiece of its growth model |
| Number of employees | Headcount and hiring plans: not disclosed (the company referred to making its expanded workforce fully productive) |
| Medium-term management plan targets | Revenue Target fiscal year Fiscal year ending February 2030 / Target value ¥3.7 billion / Operating profit Target fiscal year Fiscal year ending February 2030 / Target value ¥610 million / Operating profit margin Actual results 9% / Target 17% |
| Financial targets | ROE Minimum level 10% / Average and long-term targets 15% / Cumulative total payout ratio Target 100% (Japanese GAAP, non-consolidated, during the period of the medium-term management plan) |
| Annual Dividend | ¥0 for the fiscal year ending February 2027 (interim ¥0, year-end ¥0). The company also stated that it would pay no dividends for the fiscal year ended February 2026 |
| Payout ratio | Target payout ratio of 20% under IFRS (consolidated) and 30% under Japanese GAAP (non-consolidated). The company also disclosed a target cumulative total payout ratio of 100% |
| Acquisition of treasury shares | Specific acquisition limit, number of shares, and period: not disclosed. The company stated its policy of proceeding with share buybacks |
| Orders received and order backlog | Orders received Down 2.0% year on year (specific amount not disclosed) / Opening order backlog ¥714 million for the fiscal year ending February 2027, up 1.6% from the current fiscal year / Opening direct-profit order backlog Up 6.1% from the current fiscal year (specific amount not disclosed) |
| Market Size / Share | Market share figure: not disclosed. The company cited 620,000 monitors as one of Japan's largest monitor assets |
| New initiatives | Business expansion centered on the proprietary consumer experience data platform "CX Grid", Reducing report-checking costs through company-wide use of AI, Reducing monitor assignment costs through ID integration with LINE and ongoing improvements to the new monitor website, Expanding the scope of CX Grid beyond customer service improvement to marketing and product development, A proposal was submitted to transfer ¥56,974,714 from other capital surplus to retained earnings brought forward to offset the deficit |
Items this document does not state (7)
Ordinary incomeSelf-assessment against the planNumber of stores and locationsAssumptions Underlying the Business OutlookRisk amount incorporated into the outlookCapital expendituresKey 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.The company cited lower MSR production costs, tighter control of product procurement and outsourcing expenses, a review of its IT architecture and cloud server operations, and reductions in travel and transportation expenses, entertainment expenses, and the provision for doubtful accounts as factors behind the improvement in operating profit. The forecast for higher revenue and operating profit in the fiscal year ending February 2027 is attributed to expanding the business scope from "store support" to "management matters," the use of AI, cost management, and expansion into new areas leveraging monitor assets. The reason for the absence of dividends is that dividends funded by capital surplus would be treated as deemed dividends for tax purposes, creating burdensome tax procedures for shareholders.
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.