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
80
¥100 million (amount of the upward revision to the operating income target for the fiscal year ending March 2033)Wording
Conditional
How definitive the wording is.Contents of this document
Medium-Term Management Plan PresentationActual results for the fiscal year ending March 2026 and the medium-term management plan for the fiscal year ending March 202912 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales1,037 Hundreds of millions of yen
Operating profit82 Hundreds of millions of yen
Gross Profit Margin19.5% for the fiscal year ending March 2023 and 24.1% for the fiscal year ending March 2026. Year-on-year change points: Not disclosed
Operating profit margin7.9% for the fiscal year ending March 2026. Year-on-year change points: Not disclosed
Results for the three months of the current quarterQuarterly revenue and operating income are presented for the fiscal years ending March 2023 through March 2026. Standalone quarterly figures for the fiscal year ending March 2026 were revenue of ¥18.833 billion in Q1, ¥24.604 billion in Q2, ¥32.865 billion in Q3 and ¥36.401 billion in Q4, and operating income of ¥1 million in Q1, ¥1.005 billion in Q2, ¥2.188 billion in Q3 and ¥4.173 billion in Q4.
Full-year earnings forecastTargets for the fiscal year ending March 2027: revenue of ¥107.0 billion and operating income Not disclosed. Targets for the fiscal year ending March 2029: revenue of ¥120.0 billion, operating income of ¥12.0 billion and ROE of at least 14.5%.
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
All numerical targets under the previous medium-term management plan, “Transformation 2026,” were achieved.Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
Factors driving revenue growth: market expansion, expansion of the six growth areas, increased demand for network infrastructure construction, expansion of engineering resources and replacement demand associated with the end of Windows 10 support. Factors driving operating income growth: pursuit of appropriate pricing, stricter profitability screening, group restructuring, strengthened management of development projects and use of AI. Amounts by factor: Not disclosed
New initiatives
Transition to AI Native, transformation to a revenue model centered on Engineering Services, growth investment of approximately ¥7.0 billion, strategic investment of approximately ¥40.0 billion, use of M&A, capital and business alliances and venture capital, strengthened mid-career hiring and changes to the subsegmentsKey KPIsA metric the company considers important as a management benchmark.
Revenue from the six growth areas of ¥17.7 billion, cumulative growth investment of ¥8.1 billion, CO2 emissions of 1,106 t-CO2, 53 TLF participants, 5 advanced DX personnel, 256 DX associates, women accounting for 15.5% of regular employees, women accounting for 13.5% of career-track employees, women accounting for 4.0% of managers, engagement score of 3.07 and recurring revenue accounting for approximately 40%.Unit price and quantity metricsThese figures show sales broken down by price and volume.
Average revenue per major customer: ¥530 million for the fiscal year ending March 2026 and a target of ¥610 million for the fiscal year ending March 2029. Active customers: currently 2,600 companies and a target of 3,100 companies for the fiscal year ending March 2029. The project unit price at the contact center during the previous medium-term plan was 122% of that under the preceding medium-term plan.Segment results
Revenue for the fiscal year ending March 2026 was ¥31.1 billion for Engineering Services and ¥72.5 billion for Products. Segment-level profit results: Not disclosed. Revenue for the new subsegments in the fiscal year ending March 2026 was ¥3.0 billion for IT Platform, ¥7.6 billion for Network & Security, ¥3.7 billion for CX Communication Platform and ¥8.9 billion for Business Applications.Medium-term management plan targets
Fiscal year ending March 2029: revenue of ¥120.0 billion, operating income of ¥12.0 billion, operating margin of 10.0% and ROE of at least 14.5%. Revised long-term vision for the fiscal year ending March 2033: revenue of ¥150.0 billion, operating income of ¥18.0 billion and ROE of 17%.Financial targets
ROE: actual result of 14.0% for the fiscal year ending March 2026 and a target of at least 14.5% for the fiscal year ending March 2029. Equity ratio of 40–50%, Net D/E ratio of less than 0.4x and cash and deposits equivalent to 2.0 months of monthly sales.Market Size / Share
Addressable market of ¥8.0 billion among 100 major customers; serviceable market of ¥46.0 billion among 200 target customers (estimate); security-related market CAGR of 6.5% (FY2025–2028)Number of employees
Employees: 2,040 for the fiscal year ending March 2026, 2,062 for the fiscal year ending March 2027, 2,066 for the fiscal year ending March 2028 and 2,095 for the fiscal year ending March 2029. Hiring: 92 for the fiscal year ending March 2026, 106 for the fiscal year ending March 2027, 125 for the fiscal year ending March 2028 and 156 for the fiscal year ending March 2029.Annual Dividend
Actual annual dividend of ¥190 for the fiscal year ending March 2026. A dividend increase for the sixth consecutive fiscal year is planned for the fiscal year ending March 2027, but the amount is Not disclosed.Payout ratio
Actual payout ratio of 60.2% for the fiscal year ending March 2026. The benchmark has been raised from 40% to 60%. DOE has been raised from 3.5% to 6.0%.| Item | Details |
|---|---|
| Document type | Medium-Term Management Plan Presentation |
| Fiscal Period Covered | Actual results for the fiscal year ending March 2026 and the medium-term management plan for the fiscal year ending March 2029 |
| Net Sales | 1,037 Hundreds of millions of yen |
| Operating profit | 82 Hundreds of millions of yen |
| Gross Profit Margin | 19.5% for the fiscal year ending March 2023 and 24.1% for the fiscal year ending March 2026. Year-on-year change points: Not disclosed |
| Operating profit margin | 7.9% for the fiscal year ending March 2026. Year-on-year change points: Not disclosed |
| Results for the three months of the current quarter | Quarterly revenue and operating income are presented for the fiscal years ending March 2023 through March 2026. Standalone quarterly figures for the fiscal year ending March 2026 were revenue of ¥18.833 billion in Q1, ¥24.604 billion in Q2, ¥32.865 billion in Q3 and ¥36.401 billion in Q4, and operating income of ¥1 million in Q1, ¥1.005 billion in Q2, ¥2.188 billion in Q3 and ¥4.173 billion in Q4. |
| Full-year earnings forecast | Targets for the fiscal year ending March 2027: revenue of ¥107.0 billion and operating income Not disclosed. Targets for the fiscal year ending March 2029: revenue of ¥120.0 billion, operating income of ¥12.0 billion and ROE of at least 14.5%. |
| Self-assessment against the plan | All numerical targets under the previous medium-term management plan, “Transformation 2026,” were achieved. |
| Segment results | Revenue for the fiscal year ending March 2026 was ¥31.1 billion for Engineering Services and ¥72.5 billion for Products. Segment-level profit results: Not disclosed. Revenue for the new subsegments in the fiscal year ending March 2026 was ¥3.0 billion for IT Platform, ¥7.6 billion for Network & Security, ¥3.7 billion for CX Communication Platform and ¥8.9 billion for Business Applications. |
| Breakdown of Factors Affecting the Change | Factors driving revenue growth: market expansion, expansion of the six growth areas, increased demand for network infrastructure construction, expansion of engineering resources and replacement demand associated with the end of Windows 10 support. Factors driving operating income growth: pursuit of appropriate pricing, stricter profitability screening, group restructuring, strengthened management of development projects and use of AI. Amounts by factor: Not disclosed |
| Key KPIs | Revenue from the six growth areas of ¥17.7 billion, cumulative growth investment of ¥8.1 billion, CO2 emissions of 1,106 t-CO2, 53 TLF participants, 5 advanced DX personnel, 256 DX associates, women accounting for 15.5% of regular employees, women accounting for 13.5% of career-track employees, women accounting for 4.0% of managers, engagement score of 3.07 and recurring revenue accounting for approximately 40%. |
| Unit price and quantity metrics | Average revenue per major customer: ¥530 million for the fiscal year ending March 2026 and a target of ¥610 million for the fiscal year ending March 2029. Active customers: currently 2,600 companies and a target of 3,100 companies for the fiscal year ending March 2029. The project unit price at the contact center during the previous medium-term plan was 122% of that under the preceding medium-term plan. |
| Number of employees | Employees: 2,040 for the fiscal year ending March 2026, 2,062 for the fiscal year ending March 2027, 2,066 for the fiscal year ending March 2028 and 2,095 for the fiscal year ending March 2029. Hiring: 92 for the fiscal year ending March 2026, 106 for the fiscal year ending March 2027, 125 for the fiscal year ending March 2028 and 156 for the fiscal year ending March 2029. |
| Medium-term management plan targets | Fiscal year ending March 2029: revenue of ¥120.0 billion, operating income of ¥12.0 billion, operating margin of 10.0% and ROE of at least 14.5%. Revised long-term vision for the fiscal year ending March 2033: revenue of ¥150.0 billion, operating income of ¥18.0 billion and ROE of 17%. |
| Financial targets | ROE: actual result of 14.0% for the fiscal year ending March 2026 and a target of at least 14.5% for the fiscal year ending March 2029. Equity ratio of 40–50%, Net D/E ratio of less than 0.4x and cash and deposits equivalent to 2.0 months of monthly sales. |
| Annual Dividend | Actual annual dividend of ¥190 for the fiscal year ending March 2026. A dividend increase for the sixth consecutive fiscal year is planned for the fiscal year ending March 2027, but the amount is Not disclosed. |
| Payout ratio | Actual payout ratio of 60.2% for the fiscal year ending March 2026. The benchmark has been raised from 40% to 60%. DOE has been raised from 3.5% to 6.0%. |
| Market Size / Share | Addressable market of ¥8.0 billion among 100 major customers; serviceable market of ¥46.0 billion among 200 target customers (estimate); security-related market CAGR of 6.5% (FY2025–2028) |
| New initiatives | Transition to AI Native, transformation to a revenue model centered on Engineering Services, growth investment of approximately ¥7.0 billion, strategic investment of approximately ¥40.0 billion, use of M&A, capital and business alliances and venture capital, strengthened mid-career hiring and changes to the subsegments |
Items this document does not state (11)
Ordinary incomeNet incomeSelling, general and administrative expensesProgress against full-year forecastNumber of stores and locationsAssumptions Underlying the Business OutlookRisk amount incorporated into the outlookAcquisition of treasury sharesCapital 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.As a result of shifting resources toward growth areas under the previous medium-term management plan, the company made progress in transforming its business into a highly profitable structure, and operating income significantly exceeded the initial expectations. The company stated that it had comprehensively considered the improvement in profit levels and its future growth outlook.
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.