Jedat Inc.
3841・Standard Market・Information & Communication
EDA Software Development, Sales and Consultation Business
A single-business company that develops and sells EDA software in-house for semiconductors and electronic devices
| Period | Current | Previous | Change |
|---|---|---|---|
| Net Sales | ¥2,041 million | ¥2,062 million | ↓ |
| Operating Income | ¥260 million | ¥256 million | ↑ |
| Ordinary Income | ¥251 million | ¥290 million | ↓ |
| Net Income | ¥172 million | ¥213 million | ↓ |
| Operating Margin | 12.8% | 12.5% | ↑ |
| Equity Ratio | 83.5% | 84.1% | ↓ |
| Earnings per Share | ¥44.71 | ¥55.45 | ↓ |
| Net Assets per Share | ¥938.45 | ¥933.74 | ↑ |
| Operating Cash Flow | ¥378 million | ¥137 million | ↑ |
| Cash and Cash Equivalents at End of Period | ¥2,744 million | ¥2,545 million | ↑ |
| Annual Dividend per Share | ¥40.00 | ¥40.00 | — |
| Dividend Payout Ratio | 89.5% | 72.1% | ↑ |
Business Details
The company develops in-house EDA (Electronic Design Automation) software that supports the design of electronic devices such as LSIs, FPDs, and MEMS, and provides sales, maintenance support, and consultation services. Major customers include semiconductor manufacturers, LCD panel manufacturers, and electronic equipment manufacturers. Domestically, the company focuses on direct sales, while overseas it operates through local distributors. Revenue is composed of three categories: products and merchandise, maintenance service, and solutions (contract device design). As the company operates a single segment, consolidated results are equivalent to segment results.
Recent Overview
Sales slightly declined and operating income rose, but ordinary and net income fell sharply due to the disappearance of subsidy income and expanded investment partnership losses
In FY2026 (ending March 2026), net sales were ¥2,041 million (down 1.0% year on year), a slight decline caused partly by the timing shift of certain projects. On the other hand, a reduction in cost of sales (from ¥757 million to ¥727 million) improved gross profit, and operating income increased to ¥260 million (up 1.4% year on year). However, in non-operating items, subsidy income of ¥38 million recorded in the prior period fell to zero, and losses from investment partnerships expanded from ¥6 million to ¥28 million, causing ordinary income to decline to ¥251 million (down 13.4% year on year). Income taxes also increased from ¥76 million to ¥79 million, resulting in net income of ¥172 million (down 19.4% year on year). On the product side, the company released SX-Meister PowerVolt V19.0 in June 2025 (the world's first implementation of photomask electrostatic breakdown verification) and SX-Meister V20.0 in December 2025. A cloud version of SX-Meister for educational institutions began to be offered starting April 2026. For FY2027 (ending March 2027), the company forecasts net sales of ¥2,200 million (up 7.8% year on year), operating income of ¥290 million (up 11.3%), ordinary income of ¥300 million (up 19.4%), and net income of ¥210 million (up 22.0%).
Key Products
Growth Drivers
- Increased demand for EDA tools driven by growth in AI-related semiconductor demand (expansion of AI-utilizing products such as SX-Meister SCAI)
- Sales expansion of the flagship product SX-Meister through strengthened development of the Analog LSI Automatic Placement and Routing System (ACC) and customer acquisition
- Differentiation and new market development through new features such as SX-Meister PowerVolt (photomask electrostatic breakdown verification)
- Acquisition of new customer segments and entry into the semiconductor talent development market through the rollout of the cloud version of SX-Meister for educational institutions (available from April 2026)
- Sales expansion through broadening the resale product lineup (cost of sales for merchandise expanded 13% year on year to ¥242 million)
- Expansion of device solutions (contract design) sales through the development of new sales channels
- Enhanced awareness and cultivation of future customers through strengthened industry-government-academia collaboration (e.g., Ariake National College of Technology CDEC)
Risks
- Bipolar demand trends among major customers in the semiconductor and electronic components industry (AI-related demand remains solid, while demand for semiconductors used in smartphones, PCs, and industrial machinery continues to be weak)
- Structural downward pressure on ordinary income due to the disappearance of subsidy income (from ¥38 million in the prior period to zero in the current period)
- Risk of expanding losses from investment partnership operations (from ¥6 million in the prior period to ¥28 million in the current period)
- Downward pressure on the global economy stemming from concerns over crude oil supply and economic slowdown due to the situation in Iran
- Uncertainty in revenue recognition timing due to project timing shifts (such shifts occurred again in the current period)
- Intensifying price and technology competition from major U.S. EDA companies (such as Synopsys and Cadence)
- Structural decline in sales to the FPD market due to withdrawal and downsizing among domestic LCD manufacturers
- Concerns over the sustainability of dividends given the high dividend payout ratio of 89.5% amid declining profits
Last updated: June 12, 2026