今回は、2025年06月19日に掲載されたシステムインテグレータ<3826>のレポートを要約しました。
元レポートは下記の通りです。
システムインテグレータ<3826>レポートPDF
出典元：FISCO
それでは早速見ていきましょう。
- 1 COMPANY RESEARCH AND ANALYSIS REPORT
- 1.1 Summary
- 1.2 Business Overview
- 1.3 Results Trends
- 1.4 Outlook
- 1.5 Shareholder Return Policy and SDGs Initiatives
- 1.6 FISCO Ltd. Business Overview
- 1.7 AI Business
- 1.8 Other Business
- 1.9 Financial Position and Management Indicators
- 1.10 FY2/26 Outlook for FISCO Ltd.
- 1.11 Shareholder Return Policy and SDGs Initiatives for FISCO Ltd.
COMPANY RESEARCH AND ANALYSIS REPORT
Summary
The System Integrator 3826, listed on the Tokyo Stock Exchange Standard Market, forecasts double-digit sales and profit growth in FY2/26 driven by the ERP Business. The Company focuses on creating software for corporate productivity improvement and has seen positive results in its Object Browser, ERP, and AI businesses.
Business Overview
The Company, founded in 1995, is an independent software developer known for creating software that saves time. Its main products include the Object Browser series, OBPM Neo, and the GRANDIT Web-ERP package. The ERP Business constitutes a significant portion of the Company’s net sales and profitability, catering to mid-sized companies with innovative solutions.
Results Trends
In FY2/25, the Company exceeded its initial plan in net sales and operating profit, driven by strong performance in the ERP Business. The two-year Management Plan through FY2/27 aims at establishing a stable foundation for various business segments and achieving net sales of ¥6,300mn and operating profit of ¥600mn.
Outlook
For FY2/26, the Company forecasts a 15.3% YoY growth in net sales and a 65.7% increase in operating profit, primarily led by the ERP Business. It plans to focus on capturing demand in the manufacturing industry and expanding its offerings like SAP S/4HANA and mcframe.
Shareholder Return Policy and SDGs Initiatives
The Company aims to provide stable dividends with a dividend payout ratio of 30% and offers unique incentives like newly harvested Koshihikari rice to eligible shareholders. It also emphasizes its commitment to SDGs initiatives.
FISCO Ltd. Business Overview
The report covers FISCO Ltd., a System Integrator listed on the Tokyo Stock Exchange Standard Market. The company offers various services, including ERP, AI, and other business solutions. They are transitioning from on-premises software to SaaS versions and enhancing product features. The gross profit margin is around 50%.
AI Business
In the AI Business segment, FISCO Ltd. introduced the AISIA-AD visual inspection system in 2018, which uses deep learning technology to automate the inspection process on production lines. The company is working on improving inspection accuracy, with PoC costs around ¥4.00mn and additional fees for implementation and hardware.
Other Business
The Other Business segment includes TOPSIC, a programming skills evaluation service, which was transferred to AtCoder Inc. due to slow growth. The company reported double-digit sales and profit growth in FY2/25, with net sales exceeding the initial plan and strong performance in the ERP Business.
Financial Position and Management Indicators
FISCO’s total assets increased to ¥4,981mn, with an equity ratio of 82.5% and debt-free management. The company’s net assets grew to ¥4,116mn, and the operating profit margin was 5.7%. The ROE level remains high at 14.1%, indicating a sound financial condition.
FY2/26 Outlook for FISCO Ltd.
For FY2/26, FISCO forecasts continued sales and profit growth driven by the ERP Business. They expect net sales to grow by 15.3% to ¥5,500mn, operating profit to increase by 65.7% to ¥450mn, and ordinary profit to rise by 32.3% to ¥400mn. However, profit attributable to owners of the parent is expected to decline due to the drop in proceeds from the previous fiscal year. Despite global economic uncertainty, the company anticipates significant earnings growth.
Shareholder Return Policy and SDGs Initiatives for FISCO Ltd.
FISCO aims to provide stable dividends with a dividend payout ratio of 30% and offers unique incentives like newly harvested Koshihikari rice to eligible shareholders. The company also emphasizes its commitment to SDGs initiatives, actively engaging in environmental and social initiatives.
This combined report provides insights into two System Integrator companies listed on the Tokyo Stock Exchange, showcasing their business overviews, financial positions, future outlooks, and initiatives for shareholder returns and sustainable development. Both companies demonstrate strong performance and strategic growth plans for the upcoming fiscal year.
