Ad-Sol Nissin Corporation
3837・Prime Market・Information & Communication
Social Infrastructure Business
Core segment responsible for ICT system development for the electricity, transportation, and public sectors
| Period | Current | Previous | Change |
|---|---|---|---|
| Revenue (full year, FY2026 ending March 2026) | ¥11,183 million | ¥9,731 million | ↑ |
| Segment profit (full year, FY2026 ending March 2026) | ¥2,708 million | ¥2,138 million | ↑ |
| Segment assets (end of FY2026, March 2026) | ¥2,935 million | ¥2,578 million | ↑ |
| Share of consolidated revenue (FY2026 ending March 2026) | 65.2% | 62.9% | ↑ |
| Revenue from major customer Tokyo Gas i-net Corporation (FY2026 ending March 2026) | ¥1,909 million | ¥2,141 million | ↓ |
| Revenue from major customer Mitsubishi Electric Corporation (FY2026 ending March 2026, company-wide total) | ¥3,462 million | ¥2,778 million | ↑ |
Business Details
Provides one-stop ICT system development and DX solutions for companies supporting social infrastructure in the fields of energy (electricity & gas), transportation & logistics, public sector, and telecommunications & networks. Revenue for FY2026 (ending March 2026) was ¥11,183 million, accounting for 65.2% of consolidated revenue, making it the largest segment. Major customers include Tokyo Gas i-net Corporation (revenue of ¥1,909 million), and Mitsubishi Electric Corporation is also related to both the Social Infrastructure Business and the Advanced Industry Business.
Recent Overview
Revenue up 14.9%, reaching a record high, driven by electricity, transportation, and public sector
Revenue in the Social Infrastructure Business for FY2026 (ending March 2026) reached a record high of ¥11,183 million (up 14.9% year on year). Large-scale DX and modernization projects continued in the electricity domain within the energy field, while transportation & logistics (up 54.0% year on year) and public sector (up 31.5% year on year) also expanded significantly. On the other hand, telecommunications & networks declined 10.6% year on year. In the Kyushu region, the company newly concluded a partnership with Qsol Inc., and launched a new service, "+Global," which systematizes offshore/agile development, starting in February 2026.
Key Products
Growth Drivers
- Continuation of large-scale DX and modernization projects in the electricity domain, and multiple initiatives in next-generation smart meters, transmission/distribution facility renewal, and renewable energy-related systems
- Continued steady order intake for railway-related systems in the transportation & logistics field and security-related systems in the public sector field
- Strengthening of the electricity business through a newly concluded partnership with Qsol Inc. (a Kyushu Electric Power Group company) in the Kyushu region
- Expansion of development capacity through enhancement of the offshore/agile development framework in Da Nang, Vietnam, and the launch of the new "+Global" service
- Continued robust IT investment needs from customers for DX, modernization, and system renewal themes that are relatively resilient to economic conditions
- Increasing inquiries for data management and AI consulting premised on the use of generative AI
Risks
- Risk of revenue concentration on major customers (such as Tokyo Gas i-net Corporation) (Tokyo Gas i-net Corporation accounted for 11.1% of consolidated revenue in FY2026 ending March 2026)
- Difficulty maintaining development capacity due to chronic labor shortages and intensifying competition for engineer recruitment
- Risk of customers changing ICT investment plans due to rising resource and energy prices, U.S. tariff policy, and international instability
- Geopolitical risk and foreign exchange fluctuation risk in offshore development (Vietnam)
- Impact on segment growth if the revenue decline in the telecommunications & networks field (down 10.6% year on year) continues
Last updated: June 24, 2026