ARTNER CO., LTD.
2163・Prime Market・Services
Altner Inc. (single segment)
An engineer services company specializing in design engineer staffing and contracted/outsourced services
| Period | Current | Previous | Change |
|---|---|---|---|
| Revenue (Q1 cumulative, FY2027 ending January 2027) | ¥3,503 million | ¥12,047 million (full year FY2026 ending January 2026) | ↑ |
| Operating profit (Q1 cumulative, FY2027 ending January 2027) | ¥632 million | ¥1,822 million (full year FY2026 ending January 2026) | ↑ |
| Operating margin (Q1 cumulative, FY2027 ending January 2027) | 18.1% | 15.1% (full year FY2026 ending January 2026) | ↑ |
| Ordinary profit (Q1 cumulative, FY2027 ending January 2027) | ¥630 million | — | ↑ |
| Quarterly net income attributable to owners of the parent (Q1 cumulative, FY2027 ending January 2027) | ¥425 million | — | ↑ |
| Quarterly net income per share | ¥40.06 | ¥118.47 (full year FY2026 ending January 2026) | — |
| Equity ratio | 57.6% | 57.7% (end of FY2026 ending January 2026) | — |
| Total assets | ¥8,910 million | ¥9,058 million (end of FY2026 ending January 2026) | ↓ |
| Net assets | ¥5,131 million | ¥5,223 million (end of FY2026 ending January 2026) | ↓ |
| Full-year revenue forecast (FY2027 ending January 2027) | ¥14,021 million (+16.4% YoY) | ¥12,047 million (FY2026 ending January 2026) | ↑ |
| Full-year operating profit forecast (FY2027 ending January 2027) | ¥2,017 million (+10.7% YoY) | ¥1,822 million (FY2026 ending January 2026) | ↑ |
| Annual dividend forecast (FY2027 ending January 2027) | ¥86.00 | ¥84.00 (FY2026 ending January 2026) | ↑ |
Business Details
The company operates an engineer staffing business, a contracted/outsourced business, and other businesses. It dispatches and contracts out design engineers in the software, electrical/electronics, and mechanical fields, primarily to automotive-related manufacturers and semiconductor manufacturing equipment makers. It operates five locations: Utsunomiya, Yokohama, Hamamatsu, Nagoya, and Osaka. Consolidated financial statements have been prepared since FY2026 (ending January 2026). Honda Motor Co., Ltd. (17.1% of sales) and Honda R&D Co., Ltd. (13.3% of sales) are major customers. A notable feature is the high proportion of engineers assigned to research & development and design development areas.
Recent Overview
Achieved high profitability with Q1 revenue of ¥3,503 million and an operating margin of 18.1%
In the first quarter of FY2027 (ending January 2027) (February to April 2026), the number of active personnel expanded due to an increase in engineer headcount and maintenance of high utilization rates. Engineer unit prices continued to rise due to wage increase trends, engineer shortages, and strategic assignment to growth fields. The contracted/outsourced business also increased its share of revenue as conversion from staffing progressed. Although expenses were incurred for recruitment-related investment, IT/DX investment, and training facility investment, these were absorbed by revenue growth, and the operating margin reached 18.1%, an improvement of 3.0 percentage points from the full-year figure for the prior fiscal year. There is no change to the full-year earnings forecast (revenue of ¥14,021 million, operating profit of ¥2,017 million).
Key Products
Growth Drivers
- Continued robust demand for engineers from automotive-related manufacturers and semiconductor manufacturing equipment makers
- Expansion of active personnel through increased engineer headcount and maintenance of high utilization rates
- Continued increase in engineer unit prices driven by wage increase trends and engineer shortages
- Improved price mix through strategic assignment to growth and high-value-added fields
- Increased share of the contracted/outsourced business through proactive sales efforts and project conversion from staffing to contracting
- Expansion of business scale through M&A (subsidiarization of Clip Soft Co., Ltd. and Johogiken Co., Ltd.)
Risks
- Risk of reduced R&D investment by client companies, particularly in the automotive industry, due to the impact of U.S. trade policy
- Risk of heightened uncertainty in the global economy and downside risk to overseas economic conditions due to destabilizing international circumstances, including the situation in the Middle East
- Customer concentration risk due to sales concentration with Honda Motor Co., Ltd. and Honda R&D Co., Ltd. (30.4% combined)
- Risk of labor shortages due to intensifying competition to secure and hire talented engineers
- Earnings volatility risk from fluctuations in engineer unit prices and utilization rates
- Risk of deteriorating performance at M&A targets for which goodwill (¥1,481 million) has been recorded
Last updated: April 22, 2026