Asgent, Inc.
4288・Standard Market・Information & Communication
Network Security Business (Single Segment)
A solution vendor providing an integrated offering of security product import/sales and managed services combined with proprietary security know-how
| Period | Current | Previous | Change |
|---|---|---|---|
| Revenue (full year) | ¥3,434 million | ¥2,971 million | ↑ |
| Operating profit (full year) | ¥146 million | -¥205 million | ↑ |
| Ordinary profit (full year) | ¥135 million | -¥218 million | ↑ |
| Net income (full year) | ¥168 million | -¥440 million | ↑ |
| Gross profit | ¥1,414 million | ¥1,086 million | ↑ |
| SG&A expenses | ¥1,267 million | ¥1,292 million | ↓ |
| Operating margin | 4.2% | -6.9% | ↑ |
| Total assets | ¥1,769 million | ¥1,571 million | ↑ |
| Net assets | ¥505 million | ¥336 million | ↑ |
| Equity ratio | 28.5% | 21.4% | ↑ |
| Operating cash flow | ¥226 million | -¥161 million | ↑ |
| Cash and cash equivalents at fiscal year-end | ¥686 million | ¥663 million | ↑ |
| Earnings per share | ¥44.03 | -¥115.44 | ↑ |
| Revenue (company forecast for FY2027 (ending March 2027)) | ¥3,500 million | ¥3,434 million | ↑ |
| Operating profit (company forecast for FY2027 (ending March 2027)) | ¥50 million | ¥146 million | ↓ |
Business Details
The company is a security solution vendor that comprehensively provides imported network security-related products and combination-type managed services leveraging its own security know-how. Its core business is product sales centered on Check Point Products, with strengths in the government and enterprise customer segments. On the service side, the company is expanding its menu of offerings including SOC business, browser security, and security for AI environments. The company operates in a single domestic market and is composed of a single segment.
Recent Overview
FY2026 (ending March 2026) saw revenue increase 15.5% and a return to profitability at every profit stage
In FY2026 (ending March 2026), revenue reached ¥3,434 million (up 15.5% year on year), operating profit was ¥146 million (versus a loss of ¥205 million in the prior year), and net income was ¥168 million (versus a loss of ¥440 million in the prior year), representing a major improvement of over ¥350 million at each profit stage and a return to profitability. Product orders centered on Check Point and Menlo products remained steady throughout the year, with the acquisition of large-scale deals driving revenue. SG&A expenses were held to ¥1,267 million (down 1.8% year on year) due to personnel cost optimization and reduced depreciation following the prior year's impairment losses. On the other hand, the forecast for FY2027 (ending March 2027) calls for revenue of ¥3,500 million and operating profit of ¥50 million, with profit expected to decline significantly due to anticipated upfront investments in developing stock-type business offerings, AI utilization, and human capital. The note regarding going concern assumptions has been resolved.
Key Products
Growth Drivers
- Increasing demand for high-end models of Check Point Products and continued acquisition of large-scale deals for government and enterprise customers
- Channel diversification and accelerated deal generation through expanded adoption of SecureLayer Browser Extension by other companies following IIJ's adoption
- Structural expansion of cybersecurity demand accompanying DX promotion, cloud shift, and the spread of generative AI (intensifying ransomware, supply chain attacks, and AI risks)
- New demand generation from the Supply Chain Security Evaluation System (SCS Evaluation System), announced to launch around the end of FY2026
- Creation of revenue opportunities in the Security for AI domain through the launch of new AI environment security offerings such as Hirundo (machine unlearning)
- Building a stable and continuous revenue base through the conversion of new offerings such as Vicarius and SecureLayer into stock-type businesses
- Improved profitability and differentiation of the SOC business through continued AI-SOC service development
Risks
- High dependence on revenue from a specific vendor (Check Point), creating risk that changes in demand trends or pricing policy for its products could directly affect business performance
- Risk of increased procurement costs from continued yen depreciation (mainly foreign-currency-denominated imported products; the company recorded a foreign exchange loss of ¥12 million in the fiscal year)
- Risk of profit deterioration if the anticipated results of upfront investments are not realized as planned, given the forecast for FY2027 (ending March 2027) of a significant decline in operating profit from ¥146 million to ¥50 million
- Risk of delayed rollout of new offerings (Hirundo, Vicarius, SecureLayer, etc.) and risk that converting them into stock-type businesses will take time
- Risk of hiring difficulties and rising personnel costs due to a shortage of IT and security talent (the company has explicitly stated it will strengthen investment in securing and developing highly skilled personnel)
- Risk of remaining financial fragility, given that retained earnings still show a deficit balance of ¥272 million at fiscal year-end
- Risk of increased interest expense in a rising interest rate environment, given the remaining short-term borrowings of ¥330 million
Last updated: June 24, 2026