Asukanet Company,Limited

Business Details

The company conducts research and development, manufacturing, and sales of its proprietary technology enabling aerial imaging, the "ASKA3D Plate" (glass and resin versions). From FY2026 (ending April 2026), the company made a major shift in business policy, moving from standalone plate sales to providing package products that combine content and enclosures. On the manufacturing side, it also transitioned from in-house manufacturing to a licensing model for its technology, patents, and know-how, and decided to close its in-house technology development center. The company is promoting the acquisition of overseas strategic partners, including signing a license package agreement for resin-based ASKA3D Plates with a Chinese company.

Recent Overview

Fundamentally shifted business policy toward package sales and a licensing model, resulting in a substantial reduction in losses

In FY2026 (ending April 2026), the company made a major change to its business policy. On the sales side, it shifted from standalone plate sales to providing package products; on the manufacturing side, it transitioned from in-house manufacturing to a licensing model for technology, patents, and know-how. The company decided to close its in-house technology development center and signed a license package agreement for resin-based ASKA3D Plates with a Chinese company. Through reductions in advertising and travel expenses by curbing exhibition participation and controlling R&D expenses, the segment loss shrank significantly from ¥533 million in the prior period to ¥284 million. Revenue declined to ¥105 million (72.7% of the prior-period level), though the company worked to improve profitability on a per-project basis.

Key Products

Growth Drivers

• Expansion of sales of the "Fukuu Live Stage" aerial display package product series into the entertainment, tourism, and education sectors (including local governments)
• Building a new revenue model through licensing packages of technology, patents, and know-how for the resin ASKA3D Plate (agreement already signed with a Chinese company)
• Acquisition of strategic partners through progress in patent acquisition, prototyping, and verification of active-type technology (naked-eye 3D displays)
• Reduction of fixed costs and improvement of the profit structure through closure of the in-house technology development center
• Transfer of the Photobook Business subsidiary (BET Co., Ltd.) into this segment from FY2027 (ending April 2027), creating new business opportunities through strengthened collaboration with the XR team
• Operational efficiency improvements through consolidation of three Tokyo locations (planned to be implemented during FY2027, ending April 2027)

Risks

• Revenue has contracted to ¥105 million (down 72.7% year on year), and the shift toward package sales and licensing models has not yet translated into monetization
• The closure of the in-house technology development center has resulted in the loss of in-house development capability, leaving uncertainty regarding the maintenance of technological competitiveness
• The licensing package model has so far resulted only in an agreement with a Chinese company, with many uncertainties remaining regarding the early establishment of a manufacturing system and monetization
• Continued recording of segment losses (¥284 million in FY2026, ending April 2026) is weighing on the profitability of the group as a whole
• The aerial display market itself is taking substantially longer to develop than expected, leaving the outlook for commercialization still unclear
• Costs associated with the consolidation of the Tokyo base in FY2027 (ending April 2027) are incorporated into the earnings forecast, representing a temporary cost increase factor