Worth reading
81Important
Scored from 5 of 6 sectionsDirection
Mixed performance
Direction inferred from the company’s description.Scale
434
¥ millionWording
Avoiding a definitive answer
How definitive the wording is.Contents of this document
Earnings presentationThird quarter of the fiscal year ending November 202610 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥2,663 million+8.0%
Operating profit¥-35 million
Ordinary income¥-53 million
Net income¥-55 million
Gross Profit Margin26.8
Selling, general and administrative expenses¥750 million
Results for the three months of the current quarterQuarterly results for the 3 months of the third quarter of the fiscal year ending November 2026, including net sales of ¥867 million, operating profit of ¥13 million, and EBITDA of ¥48 million
Full-year earnings forecast
Net Sales
¥3,569 million
EBITDA
¥6 million
Operating profit
¥-130 million
Ordinary income
¥-157 million
Profit attributable to owners of the parent
¥-512 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。
Consolidated revenue72.4
Consolidated gross profit65.7
Consolidated selling, general and administrative expenses77.4
Consolidated EBITDA28.4
GRC Security Revenue76.5
GRC Security Gross Profit78.3
Financial Technology Revenue61.5
Financial Technology Gross Profit41.5
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
The GRC Security business is expected to finish above plan, while the Financial Technology business is expected to fall short of plan.Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
Impairment loss
¥353 million
Provision for allowance for doubtful accounts
¥81 million
New initiatives
- Launch of a comprehensive package supporting measures against shadow AI for employees through collaboration with 株式会社Elith
- Renewal of the company-wide AI security and AI governance framework development support service
- Launch of DZ Security, a continuous authentication security solution
- AI enablement of a GRC Security-focused product through the capital and business alliance with Fixstars Corporation
Key KPIsA metric the company considers important as a management benchmark.
- Product revenueYear on year against the same period last year+15.8%
- Product mixYear on year against the same period last yearIncreased
- Number of customers216 companies
- Consolidated number of employees223 people
Unit price and quantity metricsThese figures show sales broken down by price and volume.
Annual revenue model of ¥30 million per company; annual transaction value model of ¥10 million per companySegment results
GRC Security
Net Sales
¥2,048 million+11.6%
Gross profit
¥559 million+4.2%
Financial technology
Net Sales
¥615 million-2.4%
Gross profit
¥154 million-11.2%
Medium-term management plan targets
Target fiscal year2030
Number of customers1,000 companies
Operating profit15 companies
Operating profit unit¥ hundred million
Comparison with actual resultsActual number of companies transacted with in FY2025: 216
Risk amount incorporated into the outlookThe amount representing the range of variation the company expects in its forecast.
- ¥353 millionDetailsImpairment loss on software and goodwill related to the Financial Technology business
- ¥81 millionDetailsAllowance for doubtful accounts related to the suspended large-scale project
Market Size / Share
- Global GRC market1,328 US$100 millionFiscal year2,030
- Global GRC market growth rate14 % CAGR
Number of employees
223 people
Change during the periodHeadcount remained flat due to employee departures. Recruitment efforts are continuing.
| Item | Details |
|---|---|
| Document type | Earnings presentation |
| Fiscal Period Covered | Third quarter of the fiscal year ending November 2026 |
| Net Sales | ¥2,663 million (YoY +8.0%) |
| Operating profit | ¥-35 million |
| Ordinary income | ¥-53 million |
| Net income | ¥-55 million |
| Gross Profit Margin | 26.8 |
| Selling, general and administrative expenses | ¥750 million |
| Results for the three months of the current quarter | Quarterly results for the 3 months of the third quarter of the fiscal year ending November 2026, including net sales of ¥867 million, operating profit of ¥13 million, and EBITDA of ¥48 million |
| Full-year earnings forecast | Net Sales ¥3,569 million / EBITDA ¥6 million / Operating profit ¥-130 million / Ordinary income ¥-157 million / Profit attributable to owners of the parent ¥-512 million |
| Progress against full-year forecast | Consolidated revenue 72.4 / Consolidated gross profit 65.7 / Consolidated selling, general and administrative expenses 77.4 / Consolidated EBITDA 28.4 / GRC Security Revenue 76.5 / GRC Security Gross Profit 78.3 / Financial Technology Revenue 61.5 / Financial Technology Gross Profit 41.5 |
| Self-assessment against the plan | The GRC Security business is expected to finish above plan, while the Financial Technology business is expected to fall short of plan. |
| Segment results | GRC Security Net Sales ¥2,048 million (YoY +11.6%) / Gross profit ¥559 million (YoY +4.2%) / Financial technology Net Sales ¥615 million (YoY -2.4%) / Gross profit ¥154 million (YoY -11.2%) |
| Breakdown of Factors Affecting the Change | Impairment loss ¥353 million / Provision for allowance for doubtful accounts ¥81 million |
| Key KPIs | Indicator name Product revenue / value Not disclosed / Year on year against the same period last year ¥15.8 million, Indicator name Product mix / value Not disclosed / Year on year against the same period last year Increased, Number of customers 216 companies, Consolidated number of employees 223 people |
| Unit price and quantity metrics | Annual revenue model of ¥30 million per company; annual transaction value model of ¥10 million per company |
| Number of employees | 223 people |
| Risk amount incorporated into the outlook | ¥353 million, ¥81 million |
| Medium-term management plan targets | Target fiscal year 2030 companies / Number of customers 1,000 companies / Operating profit 15 companies / Operating profit unit ¥ hundred million / Comparison with actual results Actual number of companies transacted with in FY2025: 216 |
| Market Size / Share | Global GRC market 1,328 US$100 million, 14 % CAGR |
| New initiatives | Launch of a comprehensive package supporting measures against shadow AI for employees through collaboration with 株式会社Elith, Renewal of the company-wide AI security and AI governance framework development support service, Launch of DZ Security, a continuous authentication security solution, AI enablement of a GRC Security-focused product through the capital and business alliance with Fixstars Corporation |
Items this document does not state (10)
Operating profit marginNumber of stores and locationsAssumptions Underlying the Business OutlookFinancial 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.In the Financial Technology business, the suspension of a large-scale project that occurred in the previous fiscal year affected sales activities, and new project orders did not progress as planned. In addition, the company expects an impairment loss of ¥353 million on software and goodwill and an allowance for doubtful accounts of ¥81 million related to contract assets. The GRC Security business benefited from growing demand for security services and successful expansion of business with existing customers.
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.