Worth reading
55In 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
141
¥ million (year-on-year increase in revenue)Wording
Conditional
How definitive the wording is.Contents of this document
Presentation materials on financial resultsSecond quarter of the fiscal year ending November 20268 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥1,743 million+8.8%
Operating profit¥-48 million
Ordinary income¥-60 million
Net income¥-57 million
Gross Profit Margin26.4%
Selling, general and administrative expenses¥507 million
Results for the three months of the current quarter
Net Sales
¥867 million
Year on year against the same period last year12.1% increase
Gross profit
¥277 million
Operating profit
¥22 million
EBITDA
¥76 million
Full-year earnings forecast
Net Sales
¥3,678 million
EBITDA
¥235 million
Operating profit
¥119 million
Ordinary income
¥100 million
Profit attributable to owners of the parent
¥67 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 Sales47.4%
Gross profit42.2%
Gross profit margin on revenue26.4% versus the full-year forecast of 29.6%
Selling, general and administrative expenses52.4%
EBITDA7.9%
GRC Security business revenue49.9%
GRC Security business gross profit49.9%
Financial Technology business revenue40.6%
Financial Technology business gross profit27.5%
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
First-half performance was in line with plan. Operating profit and EBITDA are expected to finish above the initial plan. The company expects to achieve its full-year plan.Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
Factors behind the increase in revenueDeepening existing projects, expanding projects with existing customers, and winning new projects in Asian markets
Factors improving profitRevenue tracking in line with plan and containment of the increase in selling, general and administrative expenses
Factors behind the decline in marginInvestment in AI development for proprietary products
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
Profit recognition in the Financial Technology business is weighted toward the second half. The outlook assumes the development and provision of AI-related services, expanded deployment of the Financial Technology business in Asia, and the release of an AI model during the current fiscal year. Numerical assumptions: not disclosed.New initiatives
- 株式会社GRCSテクノロジーズ was established in April 2026, and began providing GRC security consulting and training services in August 2026
- Entered into a referral agreement with SOMPO Risk Management regarding ERMT and began collaboration in the ERM field
- Began supporting responses to the SCS evaluation system led by the Ministry of Economy, Trade and Industry
- Began providing the BPaaS-based risk management support service GRCS BPO MT
Key KPIsA metric the company considers important as a management benchmark.
- Product revenueYear on year against the same period last yearUp 14.3%
- Product mix11.5%
- EBITDA¥18 millionYear on year against the same period last yearUp ¥3 million
Segment results
GRC Security business
Net Sales
¥1,336 million+11.2%
Gross profit
¥356 million+2.3%
Gross Profit Margin
26.7%
yoy_changeDown 2.3 percentage points
Financial Technology business
Net Sales
¥406 million+1.5%
Gross profit
¥102 million-16.5%
Gross Profit Margin
25.3%
yoy_changeDown 5.5 percentage points
Market Size / Share
Global GRC marketUS$62.9 billion in 2024, US$134.9 billion in 2030, CAGR of 13.2%
Number of employees
Number of Employees222 People
Change during the periodIncreased from 216 at the end of Q1 of the fiscal year ending November 2026 to 222 at the end of Q2
Hiring planThe personnel structure of the GRC Security business is expected to be expanded going forward
| Item | Details |
|---|---|
| Document type | Presentation materials on financial results |
| Fiscal Period Covered | Second quarter of the fiscal year ending November 2026 |
| Net Sales | ¥1,743 million (YoY +8.8%) |
| Operating profit | ¥-48 million |
| Ordinary income | ¥-60 million |
| Net income | ¥-57 million |
| Gross Profit Margin | 26.4% |
| Selling, general and administrative expenses | ¥507 million |
| Results for the three months of the current quarter | Net Sales ¥867 million / Gross profit ¥277 million / Operating profit ¥22 million / EBITDA ¥76 million |
| Full-year earnings forecast | Net Sales ¥3,678 million / EBITDA ¥235 million / Operating profit ¥119 million / Ordinary income ¥100 million / Profit attributable to owners of the parent ¥67 million |
| Progress against full-year forecast | Net Sales 47.4% / Gross profit 42.2% / Gross profit margin on revenue 26.4% versus the full-year forecast of 29.6% / Selling, general and administrative expenses 52.4% / EBITDA 7.9% / GRC Security business revenue 49.9% / GRC Security business gross profit 49.9% / Financial Technology business revenue 40.6% / Financial Technology business gross profit 27.5% |
| Self-assessment against the plan | First-half performance was in line with plan. Operating profit and EBITDA are expected to finish above the initial plan. The company expects to achieve its full-year plan. |
| Segment results | GRC Security business Net Sales ¥1,336 million (YoY +11.2%) / Gross profit ¥356 million (YoY +2.3%) / Gross Profit Margin 26.7% / Financial Technology business Net Sales ¥406 million (YoY +1.5%) / Gross profit ¥102 million (YoY -16.5%) / Gross Profit Margin 25.3% |
| Breakdown of Factors Affecting the Change | Factors behind the increase in revenue Deepening existing projects, expanding projects with existing customers, and winning new projects in Asian markets / Factors improving profit Revenue tracking in line with plan and containment of the increase in selling, general and administrative expenses / Factors behind the decline in margin Investment in AI development for proprietary products |
| Key KPIs | Indicator name Product revenue / Value Not disclosed / Year on year against the same period last year Up 14.3%, Indicator name Product mix / Value 11.5% / Year on year against the same period last year Not disclosed, Indicator name EBITDA / Value ¥18 million / Year on year against the same period last year Up ¥3 million |
| Number of employees | Number of Employees 222 People / Change during the period Increased from 216 at the end of Q1 of the fiscal year ending November 2026 to 222 at the end of Q2 / Hiring plan The personnel structure of the GRC Security business is expected to be expanded going forward |
| Assumptions Underlying the Business Outlook | Profit recognition in the Financial Technology business is weighted toward the second half. The outlook assumes the development and provision of AI-related services, expanded deployment of the Financial Technology business in Asia, and the release of an AI model during the current fiscal year. Numerical assumptions: not disclosed. |
| Market Size / Share | Global GRC market US$62.9 billion in 2024, US$134.9 billion in 2030, CAGR of 13.2% / Domestic market share Not disclosed |
| New initiatives | 株式会社GRCSテクノロジーズ was established in April 2026, and began providing GRC security consulting and training services in August 2026, Entered into a referral agreement with SOMPO Risk Management regarding ERMT and began collaboration in the ERM field, Began supporting responses to the SCS evaluation system led by the Ministry of Economy, Trade and Industry, Began providing the BPaaS-based risk management support service GRCS BPO MT |
Items this document does not state (12)
Operating profit marginUnit price and quantity metricsNumber of stores and locationsRisk amount incorporated into the outlookMedium-term management plan targetsFinancial targetsAnnual DividendPayout ratioAcquisition 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.Revenue increased as the company deepened existing projects, expanded projects with existing customers in the GRC Security business, and won new projects in Asian markets. Operating profit and EBITDA benefited from revenue tracking in line with plan and the company’s efforts to contain the increase in selling, general and administrative expenses. The decline in gross profit margin was attributed to investment in AI development for the company’s proprietary products.
How to read this page
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