Worth reading
76Important
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
344
¥ million (year-on-year decrease in revenue)Wording
Conditional
How definitive the wording is.Contents of this document
Earnings presentationFirst quarter of the fiscal year ending December 202613 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥1,580 million+82.1%
Operating profit¥35 million+17.3%
Ordinary income¥41 million+19.7%
Net income¥30 million+22.8%
Operating profit margin1.7 %
Results for the three months of the current quarterConsolidated revenue: ¥1,580 million; operating profit: ¥35 million; ordinary profit: ¥41 million; net income attributable to owners of the parent: ¥30 million
Full-year earnings forecast
Net Sales¥8,287–9,160 million
Gross profit¥3,015–3,333 million
Operating profit¥983–1,086 million
Ordinary income¥983–1,086 million
Profit attributable to owners of the parent¥649–717 million
EPS¥180–199
Dividend Forecast¥95 per share
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。Figures are disclosed for segment KPIs and other metrics. Progress toward the full-year forecast for each consolidated line item: Not disclosed
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
Revenue fell slightly short of plan and operating profit was somewhat below plan, but both were within the expected range. Each business is progressing as planned or smoothly.Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
Net Sales
- Exclusion of Total Support from consolidation: -¥73 million
- Existing customers: -¥38 million
- New customers acquired in 2025: -¥251 million
- New customers acquired in 2026: +¥19 million
Operating profit
- Personnel expenses: -¥59 million
- Outsourcing expenses: -¥3 million
- Advertising expenses: -¥4 million
- Recruitment expenses: -¥9 million
- Other: -¥2 million
- TS operating profit: ¥0 million
- Adjustment for group-wide common expenses: +¥107 million
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
The outlook assumes revenue contributions from large-scale projects acquired from Q2 onward, as well as their full-scale launch and expansion. Figures for foreign exchange rates, raw material prices and other items: Not disclosedNew initiatives
- Started developing an AI-based automated training and role-play system for call activities
- Developing new AI solutions and acquiring new customers
- Released e-learning for on-the-job training for junior employees and improving their ability to coach subordinates
- Established a Business Investment Strategy Office
- Focusing selectively on large projects and high-value-added areas
Key KPIsA metric the company considers important as a management benchmark.
- Revenue concentration of the top 10 customers58 %
- Contract renewal rate among the top 10 customers90 Approximately %
- Average contract duration for the top 10 customers9 Years, average
- Target attrition rate for inside sales representatives10 Below %
- Target headcount for the Process and Technology business44 People
- Number of companies completing at least 3 themes annually42 companies
Segment results
- Inside Sales Outsourcing BusinessSales¥1,095 millionYear-on-year revenue comparison93.7%Profit¥65 millionYear-on-year change in profit84.9%
- Process and Technology BusinessSales¥171 millionYear-on-year change in revenue (excluding TS)81.0%Profit¥12 million
- Training BusinessSales¥312 millionYear-on-year revenue comparison106.6%Profit-¥20 million
Medium-term management plan targets
Fiscal year ending December 2026
Net Sales¥8.2–9.1 billion
Operating profit¥980 million–1.08 billion
Operating profit margin12%
ROE16% or higher
Inside sales representative attrition rateBelow 10%
Process and Technology business headcount44 people
Number of companies completing at least 3 themes annually160 companies
Financial targets
ROE16.0% or higher
PER18x or higher
Risk amount incorporated into the outlookThe amount representing the range of variation the company expects in its forecast.
An annual year-on-year impact of ¥275 million from budget freezes and strategic changes at 2 major foreign-affiliated companiesOrders received and order backlog
Orders received from 3 large customers. Order intake and order backlog by value: Not disclosedNumber of employees
Number of Employees624 People
As ofEnd of March 2026
Annual Dividend
Annual dividend per share¥95 per share
Payout ratio
50% or higher| Item | Details |
|---|---|
| Document type | Earnings presentation |
| Fiscal Period Covered | First quarter of the fiscal year ending December 2026 |
| Net Sales | ¥1,580 million (YoY +82.1%) |
| Operating profit | ¥35 million (YoY +17.3%) |
| Ordinary income | ¥41 million (YoY +19.7%) |
| Net income | ¥30 million (YoY +22.8%) |
| Operating profit margin | 1.7 % |
| Results for the three months of the current quarter | Consolidated revenue: ¥1,580 million; operating profit: ¥35 million; ordinary profit: ¥41 million; net income attributable to owners of the parent: ¥30 million |
| Full-year earnings forecast | Net Sales ¥8,287–9,160 million / Gross profit ¥3,015–3,333 million / Operating profit ¥983–1,086 million / Ordinary income ¥983–1,086 million / Profit attributable to owners of the parent ¥649–717 million / EPS ¥180–199 / Dividend Forecast ¥95 per share |
| Progress against full-year forecast | Figures are disclosed for segment KPIs and other metrics. Progress toward the full-year forecast for each consolidated line item: Not disclosed |
| Self-assessment against the plan | Revenue fell slightly short of plan and operating profit was somewhat below plan, but both were within the expected range. Each business is progressing as planned or smoothly. |
| Segment results | Segment Inside Sales Outsourcing Business / Sales ¥1,095 million / Year-on-year revenue comparison 93.7% / Profit ¥65 million / Year-on-year change in profit 84.9%, Segment Process and Technology Business / Sales ¥171 million / Year-on-year change in revenue (excluding TS) 81.0% / Profit ¥12 million, Segment Training Business / Sales ¥312 million / Year-on-year revenue comparison 106.6% / Profit -¥20 million |
| Breakdown of Factors Affecting the Change | Net Sales Exclusion of Total Support from consolidation: -¥73 million, Existing customers: -¥38 million, New customers acquired in 2025: -¥251 million, New customers acquired in 2026: +¥19 million / Operating profit Personnel expenses: -¥59 million, Outsourcing expenses: -¥3 million, Advertising expenses: -¥4 million, Recruitment expenses: -¥9 million, Other: -¥2 million, TS operating profit: ¥0 million, Adjustment for group-wide common expenses: +¥107 million |
| Key KPIs | Indicator Revenue concentration of the top 10 customers / Value 58 %, Indicator Contract renewal rate among the top 10 customers / Value 90 Approximately %, Indicator Average contract duration for the top 10 customers / Value 9 Years, average, Indicator Target attrition rate for inside sales representatives / Value 10 Below %, Indicator Target headcount for the Process and Technology business / Value 44 People, Indicator Number of companies completing at least 3 themes annually / Value 42 companies |
| Number of employees | Number of Employees 624 People / As of End of March 2026 |
| Assumptions Underlying the Business Outlook | The outlook assumes revenue contributions from large-scale projects acquired from Q2 onward, as well as their full-scale launch and expansion. Figures for foreign exchange rates, raw material prices and other items: Not disclosed |
| Risk amount incorporated into the outlook | An annual year-on-year impact of ¥275 million from budget freezes and strategic changes at 2 major foreign-affiliated companies |
| Medium-term management plan targets | Subject Fiscal year ending December 2026 / Net Sales ¥8.2–9.1 billion / Operating profit ¥980 million–1.08 billion / Operating profit margin 12% / ROE 16% or higher / Inside sales representative attrition rate Below 10% / Process and Technology business headcount 44 people / Number of companies completing at least 3 themes annually 160 companies |
| Financial targets | ROE 16.0% or higher / PER 18x or higher |
| Annual Dividend | Annual dividend per share ¥95 per share / Interim and Year-End Breakdown Not disclosed |
| Payout ratio | 50% or higher |
| Orders received and order backlog | Orders received from 3 large customers. Order intake and order backlog by value: Not disclosed |
| New initiatives | Started developing an AI-based automated training and role-play system for call activities, Developing new AI solutions and acquiring new customers, Released e-learning for on-the-job training for junior employees and improving their ability to coach subordinates, Established a Business Investment Strategy Office, Focusing selectively on large projects and high-value-added areas |
Items this document does not state (8)
Gross Profit MarginSelling, general and administrative expensesUnit price and quantity metricsNumber of stores and locationsAcquisition of treasury sharesCapital expendituresMarket 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.Revenue declined due to the completion of certain projects in the inside sales outsourcing business. Operating profit declined due to upfront investments in AI adoption, personnel expenses and recruitment aimed at driving growth from Q2 onward, the earlier implementation of salary increases, and the strengthening of administrative functions.
How to read this page
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