Hmcomm Inc.
265A・Growth Market・Information & Communication
Hmcomm Inc. (AI × Sound Science business, single segment)
An AIST-originated venture developing two business pillars—AI Products and AI Solutions—centered on "sound × AI" technology
| Period | Current | Previous | Change |
|---|---|---|---|
| Revenue (1Q cumulative, FY2026 ending December 2026) | ¥332 million | ¥230 million (1Q cumulative, FY2025 ending December 2025) | ↑ |
| Operating income (1Q cumulative, FY2026 ending December 2026) | ¥3 million | -¥15 million (1Q cumulative, FY2025 ending December 2025) | ↑ |
| Ordinary income (1Q cumulative, FY2026 ending December 2026) | ¥5 million | -¥14 million (1Q cumulative, FY2025 ending December 2025) | ↑ |
| Quarterly net income (1Q cumulative, FY2026 ending December 2026) | ¥0 million (¥687 thousand) | -¥15 million (1Q cumulative, FY2025 ending December 2025) | ↑ |
| Revenue YoY change | +44.5% | － | ↑ |
| Total assets | ¥1,851 million | ¥2,083 million (end of FY2025 ending December 2025) | ↓ |
| Net assets | ¥1,682 million | ¥1,681 million (end of FY2025 ending December 2025) | — |
| Equity ratio | 90.9% | 80.7% (end of FY2025 ending December 2025) | ↑ |
| Quarterly net income per share | ¥0.17 | -¥3.68 (1Q, FY2025 ending December 2025) | ↑ |
| Full-year revenue forecast (FY2026 ending December 2026) | ¥1,373 million | ¥1,112 million (FY2025 ending December 2025 actual) | ↑ |
| Full-year operating income forecast (FY2026 ending December 2026) | ¥56 million | ¥39 million (FY2025 ending December 2025 actual) | ↑ |
Business Details
Under the management philosophy of "contributing to society by creating value from sound and providing innovative services," the company handles "AI × sound" technologies such as voice recognition and abnormal sound detection, covering everything from in-house R&D to social implementation. In the AI Products business, it offers the voice recognition platform "Voice Contact," the conversational AI agent "Terry2," and the abnormal sound detection solution "FAST-D," among others. In the AI Solutions business, it provides DX-promotion consulting and contract development leveraging generative AI. Customers include corporate clients in contact centers, manufacturing, finance, education, and other sectors. The company operates as a single segment.
Recent Overview
1Q FY2026 saw revenue rise 44.5% and a return to operating profit; as a subsequent event, Collabo Techno was made a subsidiary
For the first quarter of FY2026 (ending December 2026) (January to March 2026), revenue was ¥332 million (up 44.5% year on year), and operating income was ¥3 million (versus an operating loss of ¥15 million in the same period of the prior year), marking a return to profitability. Order receipt and planned progress of large-scale projects in the AI Solutions business drove revenue, while in the AI Products business, projects for Voice Contact, FAST-D, and ZMEETING also progressed smoothly. On the financial side, cash decreased by ¥302 million due to settlement of contingent consideration related to a business transfer, among other factors, shrinking total assets to ¥1,851 million; however, liabilities were also significantly reduced, improving the equity ratio to 90.9%. As a subsequent event, on May 11, 2026, the company acquired 90% of the shares of Collabo Techno Co., Ltd. (web system development and SES) for ¥135 million, making it a consolidated subsidiary, with the aim of enhancing development processes through the integration of engineering resources and generative AI technology. There is no change to the full-year earnings forecast (revenue of ¥1,373 million and operating income of ¥56 million).
Key Products
Growth Drivers
- Recurring revenue generation through continued receipt and planned progress of large-scale AI development and consulting projects in the AI Solutions business
- Expansion of license numbers in the financial industry and other sectors through the joint sales structure for the conversational AI agent "Terry2" established with Works iD
- Continued steady progress of platform expansion projects and license renewals within Voice Contact's existing customer base
- New orders secured for FAST-D in connection with major companies' new site expansions, and next-fiscal-year expansion of the satellite data integration infrastructure DX project with Moriyama City
- Establishment of a new customer base through progress in implementation development of ZMEETING for major financial institutions
- Strengthening of engineering resources and enhancement of AI product implementation capabilities through the acquisition of Collabo Techno Co., Ltd. as a subsidiary (May 2026)
Risks
- Profit pressure from upfront investment (increased goodwill amortization, personnel expenses, and outsourcing costs): goodwill amortization in 1Q FY2026 surged to ¥13 million (versus ¥2 million in the same period of the prior year)
- 2Q (cumulative) earnings forecast projects revenue of ¥611 million and an operating loss of ¥29 million, indicating a risk of earnings concentration in the second half
- Uncertainty regarding the amount of goodwill and finalization of assets/liabilities arising from making Collabo Techno a subsidiary (acquisition cost of ¥135 million plus advisory fees of ¥25 million)
- Cash and deposits declined to ¥1,015 million (down ¥302 million from the prior fiscal year-end), constraining capacity for additional M&A or investment
- Stability of the recurring revenue base in the AI Products business: revenue may fluctuate depending on trends in license renewals and continued usage
- Risk of intensifying competition and technology obsolescence amid rapid advances in AI technology, as well as difficulty securing highly specialized talent
- Risk of dependence on specific customers (such as System Exe Co., Ltd.) and quarterly earnings volatility due to the timing of order receipt and progress of large-scale projects
Last updated: March 25, 2026