ENVALITH
株式会社エヌ・ティ・ティ・データ・イントラマート logo

NTT DATA INTRAMART CORPORATION

3850・Standard Market・Information & Communication

Official website
株式会社エヌ・ティ・ティ・データ・イントラマート logo
NTT DATA INTRAMART CORPORATION3850

Business

NTT DATA Intramart Corporation was established in 1998 as an in-house venture of NTT DATA and became an independent company in 2000. Its flagship product, "intra-mart," is an Enterprise AI Orchestration Platform that enables low-code development and operation of diverse business systems—including applications, approvals, and information sharing—targeted at large and mid-sized enterprises. The company consists of two segments: the Software Business (product development, sales, maintenance, and cloud) and the Service Business (consulting, education, and System Integration (SI)), and operates an ecosystem-based business model combining indirect sales through agency partners with direct sales. The company maintains a support framework that assists customers with DX promotion consistently from the planning stage through to operation.

Business Model

The Software Business generates revenue from intra-mart license sales (transition to subscription-based licensing underway), the cloud service "Accel-Mart," and product maintenance fees. As of FY2026 (ending March 2026), subscription-based contracts account for 70% of the total, and recurring revenue continues to accumulate. The Service Business provides System Integration (SI), consulting, and education/training associated with product implementation, with stable revenue supported by long-term, large-scale projects. An ecosystem built through agency partners complements customer acquisition.

Company Strengths

Migration to the subscription-based license (Customer Success License) launched in 2023 has progressed, and in FY2026 (ending March 2026), the proportion of subscription-based contracts within license sales reached 70% of the total. The accumulation of recurring revenue has improved sales predictability and revenue stability.

The company completes within its own group a structure that consistently supports customers' DX promotion, spanning from product development and sales to consulting, education, SI, and operational support. In October 2023, it made NTT DATA IM JSP Corporation a subsidiary, incorporating advanced development capabilities including AI and IoT utilization, which further strengthened its service provision capacity.

The membership base of the user community "IMUG (intra-mart User Group)" is steadily expanding, promoting information sharing among customers and ongoing engagement with the products. In addition, the company has built an indirect sales network with agency partners (system development companies), functioning as an ecosystem that supports the diffusion and expansion of product sales.

ENVALITH's Perspective

In FY2026 (ending March 2026), sales to the Kanto Electrical Safety Inspection Association amounted to ¥2,601 million, accounting for 17.7% of total sales, indicating a high degree of dependence on specific customers. The Service Business order backlog declined sharply, down to 54.1% year-on-year, and there is a risk of sales fluctuations in subsequent periods depending on the progress of large-scale projects, which warrants close monitoring.

Operating profit bottomed out at ¥376 million in FY2024 (ending March 2024) before rebounding sharply to ¥1,381 million in FY2026 (ending March 2026), a 150.3% increase year-on-year. However, profit levels over the past four periods have been unstable, moving ¥843 million → ¥811 million → ¥376 million → ¥552 million, and the core of the investment judgment lies in discerning whether this recovery reflects structural improvement from the shift to subscriptions, or merely a temporary contribution from large-scale projects.

Against a backdrop of DX promotion and labor-saving needs, the low-code development tool market is expected to expand, providing a continued tailwind for the company as an external environment factor. On the other hand, the annual securities report explicitly notes the risk of intensifying competition from major domestic and overseas vendors as well as emerging SaaS companies, and whether the company can continue to maintain the functional superiority of intra-mart will determine its medium- to long-term competitiveness.

Growth Strategy

Strengthening the customer success-driven business model and establishing a highly profitable business structure through AI utilization

Continuing to drive the transition to subscription-type licenses initiated in 2023, achieving a 70% subscription contract composition ratio as of FY2026 (ending March 2026). In tandem with expanding adoption of the cloud-based service "Accel-Mart," the company aims to further build up its recurring revenue base.

Advancing the systematization of AI-native development methodologies, the construction of an enterprise AI agent development platform (MCP integration, SDK development), and research and development of ontology construction. The company is also accumulating implementation know-how through PoCs conducted with customers. R&D expenses of ¥217 million were invested in FY2026 (ending March 2026).

Through joint development with iGrafx, the company has begun developing next-generation process reform solutions aimed at realizing Autonomous Operations, in which AI and people collaborate on business processes. Deployment is envisioned across both the Software Business and Service Business segments.

Began system integration between intra-mart Procurement Cloud and Amazon Business, expanding the business application market in the procurement and purchasing domain. The company is also promoting expansion into adjacent business applications such as expense management and sales support.

Formulated a new medium-term management strategy under the slogan "Achieving high growth and gaining greater trust through co-creation with customers." The strategy is driven by three pillars: strengthening the business model centered on customer success, establishing a highly profitable business structure leveraging AI, and cultivating the corporate brand.

Last updated: July 19, 2026