Worth reading
61In 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
2
times (Non-GAAP operating profit, fiscal 2030 target versus fiscal 2025)Wording
Avoiding a definitive answer
How definitive the wording is.Items stated in the management plan
FormulatedOperating profit0.0%
基準 2,025Target2,025billions / times
Operating profit margin-2,010.0pt
基準 2,025Target15％
Each line is the climb from the baseline the document states to the target it sets. The slope is scaled against the largest climb in this document. For metrics expressed as percentages, differences are shown in percentage points (pt).The increase shown by the dotted line is calculated from the two reported figures because the company did not provide the amount of growth.
Net Sales¥3,582.7 billion (fiscal 2025 actual) → Not disclosed（CAGR 3％+）
Net income for the current fiscal year¥279.8 billion (fiscal 2025 actual, Non-GAAP net income) → Not disclosed
ROIC9.1% (fiscal 2025 actual) → Not disclosed
Only the target level is shown because the current level for comparison was not provided.What happened to the previous planNot disclosed → Fiscal 2025 actual: revenue of ¥3,582.7 billion, adjusted operating profit of ¥386.8 billion, Non-GAAP operating profit of ¥397.2 billion, Non-GAAP net income of ¥279.8 billion, EBITDA of ¥530.2 billion, and ROIC of 9.1%
Total investment planUp to ¥1.2–1.3 trillion in capacity for growth investment from after the CSG acquisition through the end of fiscal 2030, excluding the impact of acquisitions
Investment amount by sectorField Growth Investment / Amount Up to ¥1.2–1.3 trillion / Period Covered From after the CSG acquisition through the end of fiscal 2030, Field M&A and acquisitions / Amount Not disclosed
Statements about the use of capital
Payout ratio / DOE policyThe basic policy of steadily increasing dividends and conducting share buybacks flexibly will be maintained. Numerical targets and the applicable period for the payout ratio and DOE are 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 policyThe basic policy is to conduct share buybacks flexibly. The acquisition limit and timing are not disclosed. If treasury shares exceed 5% of issued shares, the excess will generally be cancelled.
Self-assessment of PBR and share priceThe company’s assessment of its PBR and share price level is not disclosed. Market capitalization was stated to have reached an all-time high of ¥8.1 trillion on 21 November 2025.PBR is a measure of how many times the share price is the book value per share.
Key initiatives
01Social implementation of AI (IT services)
02Delivering value end to end
03Deepening domain knowledge and expanding footprint and wallet share
04BluStellar Scenario
05AX consulting
06AI Platform Service
07Alliances
08Providing specialized AI models
09Governance and security
10Practicing client zero
11Developing AX talent
12Research and development
13Intellectual Property
14New Business Development
15Implementation of technologies for the new national security environment (social infrastructure)
16As a leading company in the defense ICT field
17Digital infrastructure (marine, communications infrastructure, aviation and space)
18Cybersecurity (ACD/CyIOC)
19Transforming culture and the management platform
20A strong corporate culture
21Advancing group management
22Enhancing head office functions
23Thought leadership
Plan assumptionsA new global AI services market exceeding ¥45 trillion will emerge, The contract value for newly required businesses in the defense market will expand from ¥17.2 trillion to ¥43.5 trillion, Specific assumptions for exchange rates, interest rates and raw material prices are not disclosed
Segment targetSegment Domestic IT services / FY2025 Results Revenue of ¥2,175.5 billion, Non-GAAP operating profit margin of 13.9% / FY2030 Target Revenue CAGR of 4–6%, Non-GAAP operating profit margin of approximately 20%, Segment Overseas IT services / FY2025 Results Revenue of ¥333.5 billion, Non-GAAP operating profit margin of 10.1% / FY2030 Target Revenue CAGR of 3–5%, Non-GAAP operating profit margin in the mid-teens, Segment IT Services / FY2025 Results Revenue of ¥2,508.9 billion, Non-GAAP operating profit margin of 13.4% / FY2030 Target Revenue CAGR of 3–5%, Non-GAAP operating profit margin of approximately 20%, Segment Telecom services / FY2025 Results Revenue of ¥390.5 billion, Non-GAAP operating profit margin of 7.4% / FY2030 Target Revenue CAGR of 3–5%, Non-GAAP operating profit margin in the high teens, Segment ANS / FY2025 Results Revenue of ¥544.8 billion, Non-GAAP operating profit margin of 10.0% / FY2030 Target Revenue CAGR of 4–6%, Non-GAAP operating profit margin in the high teens, Segment Social infrastructure / FY2025 Results Revenue of ¥935.3 billion, Non-GAAP operating profit margin of 8.9% / FY2030 Target Revenue CAGR of 3–5%, Non-GAAP operating profit margin in the high teens, Segment Companywide / FY2025 Results Revenue of ¥3,582.7 billion, Non-GAAP operating profit margin of 11.1% / FY2030 Target Revenue CAGR of 3%+, Non-GAAP operating profit margin of 15%+, Segment BluStellar / FY2025 Results Revenue of ¥705.0 billion, Non-GAAP operating profit margin of 14.5% / FY2030 Target Revenue CAGR of 13%, Non-GAAP operating profit margin of 25%
Non-financial targetsIndicator Engagement score / Target value Top 25th percentile level (Global Top Tier) / Timing FY2030, Indicator Market share in the marine business / Target value 35％ / Timing FY2030
Size of the Target MarketMarket AI services market / Scale More than ¥45 trillion / Source Not disclosed, Market Contract value for newly required businesses in the defense market (procurement expenditure) / Scale ¥17.2 trillion (FY19–FY23) to ¥43.5 trillion (FY23–FY27) / Source Prepared by NEC based on the Ministry of Defense’s “Regarding the Medium-Term Defense Program (FY2019–FY2023)” and “Regarding the Defense Buildup Program”
Risks identified by the company
Quality, safety and other issues involving products and services
Cybersecurity risk
Risk of being unable to secure high-caliber talent
Inadequate response to human rights issues across the value chain, including those involving employees
Major misconduct, including bribery, accounting fraud and violations of laws and regulations such as the Act on the Protection of Personal Information
Impact of climate change, natural disasters and environmental issues
Changes in economic conditions, including exchange rates and interest rates
Risk that corporate acquisitions and business alliances will not produce the expected results
Political and social conditions in the countries and regions where the company operates
Risks related to the impact of technological innovation and intellectual property rights
Hazard risks, including natural disasters and pandemics
Compliance issues involving violations of competition laws, export control laws and other regulations
| Item | Details |
|---|---|
| Plan name | 2030 Mid-term Management Plan |
| Plan period | Five years, from fiscal 2026 through fiscal 2030 |
| Progress against the plan | Formulated |
| Sales Target | ¥3,582.7 billion (fiscal 2025 actual) → Not disclosed（CAGR 3％+） |
| Operating profit target | ¥397.2 billion (fiscal 2025 actual, Non-GAAP operating profit) → 2x fiscal 2025 level |
| Operating profit margin target | 11.1% (fiscal 2025 actual, Non-GAAP operating profit margin) → 15％+ |
| Net income target | ¥279.8 billion (fiscal 2025 actual, Non-GAAP net income) → Not disclosed |
| ROIC target | 9.1% (fiscal 2025 actual) → Not disclosed |
| Payout ratio / DOE policy | The basic policy of steadily increasing dividends and conducting share buybacks flexibly will be maintained. Numerical targets and the applicable period for the payout ratio and DOE are not disclosed. |
| Treasury share acquisition policy | The basic policy is to conduct share buybacks flexibly. The acquisition limit and timing are not disclosed. If treasury shares exceed 5% of issued shares, the excess will generally be cancelled. |
| Self-assessment of PBR and share price | The company’s assessment of its PBR and share price level is not disclosed. Market capitalization was stated to have reached an all-time high of ¥8.1 trillion on 21 November 2025. |
| Total investment plan | Up to ¥1.2–1.3 trillion in capacity for growth investment from after the CSG acquisition through the end of fiscal 2030, excluding the impact of acquisitions |
| Investment amount by sector | Field Growth Investment / Amount Up to ¥1.2–1.3 trillion / Period Covered From after the CSG acquisition through the end of fiscal 2030, Field M&A and acquisitions / Amount Not disclosed |
| Segment target | Segment Domestic IT services / FY2025 Results Revenue of ¥2,175.5 billion, Non-GAAP operating profit margin of 13.9% / FY2030 Target Revenue CAGR of 4–6%, Non-GAAP operating profit margin of approximately 20%, Segment Overseas IT services / FY2025 Results Revenue of ¥333.5 billion, Non-GAAP operating profit margin of 10.1% / FY2030 Target Revenue CAGR of 3–5%, Non-GAAP operating profit margin in the mid-teens, Segment IT Services / FY2025 Results Revenue of ¥2,508.9 billion, Non-GAAP operating profit margin of 13.4% / FY2030 Target Revenue CAGR of 3–5%, Non-GAAP operating profit margin of approximately 20%, Segment Telecom services / FY2025 Results Revenue of ¥390.5 billion, Non-GAAP operating profit margin of 7.4% / FY2030 Target Revenue CAGR of 3–5%, Non-GAAP operating profit margin in the high teens, Segment ANS / FY2025 Results Revenue of ¥544.8 billion, Non-GAAP operating profit margin of 10.0% / FY2030 Target Revenue CAGR of 4–6%, Non-GAAP operating profit margin in the high teens, Segment Social infrastructure / FY2025 Results Revenue of ¥935.3 billion, Non-GAAP operating profit margin of 8.9% / FY2030 Target Revenue CAGR of 3–5%, Non-GAAP operating profit margin in the high teens, Segment Companywide / FY2025 Results Revenue of ¥3,582.7 billion, Non-GAAP operating profit margin of 11.1% / FY2030 Target Revenue CAGR of 3%+, Non-GAAP operating profit margin of 15%+, Segment BluStellar / FY2025 Results Revenue of ¥705.0 billion, Non-GAAP operating profit margin of 14.5% / FY2030 Target Revenue CAGR of 13%, Non-GAAP operating profit margin of 25% |
| Non-financial targets | Indicator Engagement score / Target value Top 25th percentile level (Global Top Tier) / Timing FY2030, Indicator Market share in the marine business / Target value 35％ / Timing FY2030 |
| Plan assumptions | A new global AI services market exceeding ¥45 trillion will emerge, The contract value for newly required businesses in the defense market will expand from ¥17.2 trillion to ¥43.5 trillion, Specific assumptions for exchange rates, interest rates and raw material prices are not disclosed |
| Key initiatives | Social implementation of AI (IT services), Delivering value end to end, Deepening domain knowledge and expanding footprint and wallet share, BluStellar Scenario, AX consulting, AI Platform Service, Alliances, Providing specialized AI models, Governance and security, Practicing client zero, Developing AX talent, Research and development, Intellectual Property, New Business Development, Implementation of technologies for the new national security environment (social infrastructure), As a leading company in the defense ICT field, Digital infrastructure (marine, communications infrastructure, aviation and space), Cybersecurity (ACD/CyIOC), Transforming culture and the management platform, A strong corporate culture, Advancing group management, Enhancing head office functions, Thought leadership |
| Results under the previous plan | Not disclosed → Fiscal 2025 actual: revenue of ¥3,582.7 billion, adjusted operating profit of ¥386.8 billion, Non-GAAP operating profit of ¥397.2 billion, Non-GAAP net income of ¥279.8 billion, EBITDA of ¥530.2 billion, and ROIC of 9.1% |
| Size of the Target Market | Market AI services market / Scale More than ¥45 trillion / Source Not disclosed, Market Contract value for newly required businesses in the defense market (procurement expenditure) / Scale ¥17.2 trillion (FY19–FY23) to ¥43.5 trillion (FY23–FY27) / Source Prepared by NEC based on the Ministry of Defense’s “Regarding the Medium-Term Defense Program (FY2019–FY2023)” and “Regarding the Defense Buildup Program” |
| Risks identified | Quality, safety and other issues involving products and services, Cybersecurity risk, Risk of being unable to secure high-caliber talent, Inadequate response to human rights issues across the value chain, including those involving employees, Major misconduct, including bribery, accounting fraud and violations of laws and regulations such as the Act on the Protection of Personal Information, Impact of climate change, natural disasters and environmental issues, Changes in economic conditions, including exchange rates and interest rates, Risk that corporate acquisitions and business alliances will not produce the expected results, Political and social conditions in the countries and regions where the company operates, Risks related to the impact of technological innovation and intellectual property rights, Hazard risks, including natural disasters and pandemics, Compliance issues involving violations of competition laws, export control laws and other regulations |
| Publication date | 12 May 2026 |
Items this document does not state (4)
ROE targetCost of capitalReason for revision or withdrawalDate 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.The social transformation driven by AI and the new national security environment are converging, and the expansion of AI adoption has brought the company into a new business phase.
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.