FLECT Co., Ltd.
4414・Growth Market・Information & Communication
Business
flect Inc. upholds the vision of "shaping the future that should be, through the cloud," and provides multi-cloud integration services combining multiple cloud platforms such as Salesforce, AWS, MuleSoft, Okta, and Databricks. Its main customers are major domestic companies centered on those included in the Nikkei 225, 400, and 500 indices (accounting for 94% of net sales), and the company develops total services that add AI to data integration, identity integration, and data integration platform construction. It also handles application development for contact centers, e-commerce, IoT, and other areas, supporting highly demanding DX that extends to customers' "business model transformation." Founded in 2005, it listed on the Tokyo Stock Exchange Mothers market (now the Growth market) in December 2021.
Business Model
Specialized professionals such as cloud engineers (415 employees as of the end of March 2026) undertake DX projects for major corporations, building up revenue on a project-by-project basis. The structure enables efficient acquisition of projects through cloud partnerships centered on Salesforce, and expands ARPA through cross-selling to existing customers. The main components of cost of sales are labor costs and outsourcing costs, and the company has achieved a gross profit margin of 47.4% (FY2026, ending March 2026) through productivity improvements leveraging AI and the provision of high-value-added services.
Company Strengths
With over 17 years of development track record since concluding a Salesforce partner agreement in 2009, the company has obtained top-tier domestic partner certification from Salesforce Japan and MuleSoft Japan. Between 2019 and 2026, it received multiple awards including Salesforce Partner Innovation Awards, Innovation Partner of the Year, and MuleSoft Japan Partner Enablement Award. The company has also produced holders of Salesforce's top-level qualification, Certified Technical Architect (CTA), giving it a level of technical credibility that competitors find difficult to replicate in a short period.
The company has established a unique position with a track record in both "building AI-Ready systems" (data integration, identity integration, data integration platforms) and "AI implementation and utilization" (multi-AI agents such as Agentforce and Bedrock). In FY2026 (ending March 2026), it secured multiple new orders for Agentforce, Data 360, Databricks, and MuleSoft, primarily in the financial industry. Through joint research with Honda Motor Co., Ltd., it also succeeded in a proof-of-concept trial for schedule automation using OR × LLM.
The number of quarterly contracted large-enterprise customers more than doubled, from 32 companies in Q4 of FY2022 (ended March 2022) to 70 companies in Q4 of FY2026 (ending March 2026). The gross profit margin reached a record high of 47.4% in FY2026, with cost of sales decreasing 1.4% year on year while gross profit increased 10.3%. ANA Systems Corporation continues as a major client accounting for 13.0% of net sales, and the company maintains a high-quality customer base in which large enterprises account for 94% of sales.
ENVALITH's Perspective
Performance Trend
Revenue expanded 2.3x over five fiscal years, from ¥3,642 million in FY2022 (ended March 2022) to ¥8,252 million in FY2026 (ending March 2026), with FY2026 marking a new record high. However, the growth rate decelerated from 14.7% in the prior fiscal year to 3.8%. Operating income rose to ¥1,244 million (up 14.6% year-on-year), with operating margin continuing to improve to 15.1% (versus 13.7% in the prior fiscal year). On the other hand, due to the recording of a ¥102 million valuation loss on shares of affiliated companies and an increase in corporate income taxes, net income came to ¥684 million (down 5.1% year-on-year). As an external factor, robust DX-related demand supported revenue, while an increase in trade receivables (up ¥519 million) put pressure on operating cash flow, which declined significantly to ¥330 million (versus ¥895 million in the prior fiscal year).
Growth Strategy
Aiming for revenue of ¥10.4 billion through a three-pronged approach combining deepening of the AI/data integration domain, expansion of the customer base, and investment in human capital
Implementing multi-AI solutions such as Agentforce across all application development areas including contact centers, e-commerce, and marketing, driving full-scale production use and expanded operations that go beyond PoC. Multiple new orders have already been secured in FY2026 (ending March 2026), primarily in the financial industry.
Strengthening total services combining MuleSoft/Informatica (data integration), Data 360/Databricks (data infrastructure), and Auth0 (identity authentication) with AI. Capturing demand for AI-ready system construction to expand transactions with existing customers and acquire new customers.
While primarily targeting large enterprises such as companies included in the Nikkei 225, 400, and 500 indices, continuing to develop the public sector, including central government ministries and local governments, and newly entering the financial industry. The number of quarterly contracted customers is on an expanding trend, reaching 70 companies in Q4 (compared to 55 companies in the same period of the previous year).
Continuing active investment in recruitment, training costs, and personnel expenses to meet robust demand. In April 2026, hired 40 new graduates, mainly from science and engineering graduate programs, further expanding the workforce of specialized employees to 415. Also promoting operational efficiency and productivity improvements through company-wide utilization of AI.
Last updated: July 19, 2026