Worth reading
76Important
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
37.3
Year-on-year change in operating income (%)Wording
Conditional
How definitive the wording is.Contents of this document
Financial results presentationSecond quarter (interim period) of the fiscal year ending December 202614 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥8,519 million-0.6%
Operating profit¥650 million+37.3%
Ordinary income¥706 million+34.4%
Net income¥506 million +123.2%interim net income attributable to owners of the parent
Gross Profit Margin30.9%
Operating profit margin7.6%
Selling, general and administrative expenses¥1,981 million
Results for the three months of the current quarter
Net Sales
¥4,128 million-0.5%
Operating profit
¥153 million+204.9%
Ordinary income
¥178 million+152.8%
Interim net income attributable to owners of the parent
¥86 million
Full-year earnings forecast
Net Sales
¥18,300 million
Operating profit
¥1,600 million
Ordinary income
¥1,615 million
Profit attributable to owners of the parent
¥1,050 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。
Net Sales46.6%
Operating profit40.6%
Profit attributable to owners of the parent48.2%
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
Cumulative first-half results were at the level initially expected. Standalone second-quarter operating profit fell short of plan.Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
- Gross profit+¥231 million
- Personnel expenses (SG&A)+¥19 million
- Recruitment costs-¥15 million
- Training and development expenses-¥1 million
- Advertising expenses-¥4 million
- Rent-¥8 million
- Goodwill amortization+¥12 million
- Other-¥57 million
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
The assumptions include the slow project period, onboarding training for new graduates, higher utilization rates from July onward, and the sales and operating profit plans for the third and fourth quarters (sales of ¥4,870 million and operating profit of ¥470 million in each quarter).New initiatives
- Development and implementation of a local LLM
- Launch of a business architecture talent development service aligned with Digital Skill Standard Version 2.0
- Full-scale expansion of LTS Strategy Pte. Ltd.'s cross-border M&A services
- Full-scale development of the Physical AI and robotics business
- Application to change the market segment from the Prime Market to the Standard Market
Key KPIsA metric the company considers important as a management benchmark.
- Increase in the number of new business relationships13 companies
- Professional qualifications earned in the PM and BA areas19 people
- Consolidated front-office employees911 peopleYear on year against the same period last year+29 people
- Equity ratio50.1 %Year on year against the same period last year+3.5pt
- Net cash¥1,544 million
- Net debt-to-equity ratio-0.3 times
Unit price and quantity metricsThese figures show sales broken down by price and volume.
The Company discloses the number of customers, new customers, existing customers and average revenue per customer. In FY2026 2Q, average revenue per customer was ¥20.6 million, the number of new customers was 13 companies and the number of existing customers was 102 companies.Segment results
Not disclosed (single segment from the fiscal year ending December 2026)Medium-term management plan targets
2nd Growth Plan (2025-2027). Assumed gross margins by service area for FY25-27 are at least 50% for strategic consulting, at least 40% for DX consulting, at least 20% for platform & agency services, and at least 30% for DX engineering. The year-end target for front-office employees is 950.Financial targets
Equity ratio of 50.1% and net debt-to-equity ratio of -0.30x. Other targets, including ROE and ROIC, were not disclosed.Risk amount incorporated into the outlookThe amount representing the range of variation the company expects in its forecast.
Not disclosed. The Company identified as risks a decline in the number of employees assigned to the former platform business, changes in the demand environment for the subsidiary's SES business, and uncertainty regarding the progress of large-scale projects.Number of employees
The number of consolidated front-office employees increased by 29 to 911. The Company plans to continue hiring with an emphasis on hiring quality, without being constrained by its plan for 950 front-office employees at fiscal year-end.Annual Dividend
Annual dividend of ¥40 per share (ordinary dividend and year-end dividend). The breakdown of the interim dividend was not disclosed.Payout ratio
Approximately 20%Acquisition of treasury shares
The policy is to conduct share buybacks flexibly, but the amount, number of shares and period of the acquisition program are not disclosed| Item | Details |
|---|---|
| Document type | Financial results presentation |
| Fiscal Period Covered | Second quarter (interim period) of the fiscal year ending December 2026 |
| Net Sales | ¥8,519 million (YoY -0.6%) |
| Operating profit | ¥650 million (YoY +37.3%) |
| Ordinary income | ¥706 million (YoY +34.4%) |
| Net income | ¥506 million (interim net income attributable to owners of the parent) (YoY +123.2%) |
| Gross Profit Margin | 30.9% |
| Operating profit margin | 7.6% |
| Selling, general and administrative expenses | ¥1,981 million |
| Results for the three months of the current quarter | Net Sales ¥4,128 million (YoY -0.5%) / Operating profit ¥153 million (YoY +204.9%) / Ordinary income ¥178 million (YoY +152.8%) / Interim net income attributable to owners of the parent ¥86 million |
| Full-year earnings forecast | Net Sales ¥18,300 million / Operating profit ¥1,600 million / Ordinary income ¥1,615 million / Profit attributable to owners of the parent ¥1,050 million |
| Progress against full-year forecast | Net Sales 46.6% / Operating profit 40.6% / Profit attributable to owners of the parent 48.2% |
| Self-assessment against the plan | Cumulative first-half results were at the level initially expected. Standalone second-quarter operating profit fell short of plan. |
| Segment results | Not disclosed (single segment from the fiscal year ending December 2026) |
| Breakdown of Factors Affecting the Change | Factors Gross profit / Amount +¥231 million, Factors Personnel expenses (SG&A) / Amount +¥19 million, Factors Recruitment costs / Amount -¥15 million, Factors Training and development expenses / Amount -¥1 million, Factors Advertising expenses / Amount -¥4 million, Factors Rent / Amount -¥8 million, Factors Goodwill amortization / Amount +¥12 million, Factors Other / Amount -¥57 million |
| Key KPIs | Indicator name Increase in the number of new business relationships / Value 13 companies / Year on year against the same period last year Not disclosed, Indicator name Professional qualifications earned in the PM and BA areas / Value 19 people / Year on year against the same period last year Not disclosed, Indicator name Consolidated front-office employees / Value 911 people / Year on year against the same period last year +29 people, Indicator name Equity ratio / Value 50.1 % / Year on year against the same period last year +3.5pt, Indicator name Net cash / Value ¥1,544 million / Year on year against the same period last year Not disclosed, Indicator name Net debt-to-equity ratio / Value -0.3 times / Year on year against the same period last year Not disclosed |
| Unit price and quantity metrics | The Company discloses the number of customers, new customers, existing customers and average revenue per customer. In FY2026 2Q, average revenue per customer was ¥20.6 million, the number of new customers was 13 companies and the number of existing customers was 102 companies. |
| Number of employees | The number of consolidated front-office employees increased by 29 to 911. The Company plans to continue hiring with an emphasis on hiring quality, without being constrained by its plan for 950 front-office employees at fiscal year-end. |
| Assumptions Underlying the Business Outlook | The assumptions include the slow project period, onboarding training for new graduates, higher utilization rates from July onward, and the sales and operating profit plans for the third and fourth quarters (sales of ¥4,870 million and operating profit of ¥470 million in each quarter). |
| Risk amount incorporated into the outlook | Not disclosed. The Company identified as risks a decline in the number of employees assigned to the former platform business, changes in the demand environment for the subsidiary's SES business, and uncertainty regarding the progress of large-scale projects. |
| Medium-term management plan targets | 2nd Growth Plan (2025-2027). Assumed gross margins by service area for FY25-27 are at least 50% for strategic consulting, at least 40% for DX consulting, at least 20% for platform & agency services, and at least 30% for DX engineering. The year-end target for front-office employees is 950. |
| Financial targets | Equity ratio of 50.1% and net debt-to-equity ratio of -0.30x. Other targets, including ROE and ROIC, were not disclosed. |
| Annual Dividend | Annual dividend of ¥40 per share (ordinary dividend and year-end dividend). The breakdown of the interim dividend was not disclosed. |
| Payout ratio | Approximately 20% |
| Acquisition of treasury shares | The policy is to conduct share buybacks flexibly, but the amount, number of shares and period of the acquisition program are not disclosed |
| New initiatives | Development and implementation of a local LLM, Launch of a business architecture talent development service aligned with Digital Skill Standard Version 2.0, Full-scale expansion of LTS Strategy Pte. Ltd.'s cross-border M&A services, Full-scale development of the Physical AI and robotics business, Application to change the market segment from the Prime Market to the Standard Market |
Items this document does not state (5)
Number of stores and locationsCapital expendituresOrders received and order backlogMarket Size / ShareKey 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.Operating profit benefited from higher gross profit due to growth in sales in the DX consulting area and an improved gross margin, restrained growth in selling, general and administrative expenses, and lower amortization expenses following the completion of amortization of certain goodwill. The slight decline in net sales was attributable to the impact of excluding アイシス株式会社 from the consolidated results. Regarding the change in market segment, the Company determined that, as of the end of June 2026, its market capitalization of tradable shares did not meet the Prime Market criteria and that meeting the criteria during the transitional period would be difficult.
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