AISAN TECHNOLOGY CO.,LTD.

Business Details

Targeting primarily the surveying and real estate registration market, the company develops and sells surveying and civil engineering-related software and 3D point cloud processing software, including its flagship CAD software "WingneoINFINITY," sells and maintains surveying and measuring equipment, and undertakes various surveying contract services related to land, rivers, and oceans. A key feature is the group-wide provision of solutions, including subsidiary Sanwa Co., Ltd. (surveying contracting). For FY2026 (ending March 2026), full-year net sales were ¥3,250 million and segment profit was ¥588 million (operating margin of 18.1%), achieving a substantial increase in profit.

Recent Overview

Net sales up 27% on strong flagship product sales and large-scale order intake; margin improved to over 18%

Full-year net sales in the Public Segment for FY2026 (ending March 2026) were ¥3,250 million (up 27.1% year on year), and segment profit was ¥588 million (up 66.7% year on year), achieving substantial increases in both revenue and profit. The main drivers were strong update proposals addressing the end of Windows 10 support and revisions to work procedure standards, as well as the receipt of large-scale orders from government agencies. On the other hand, the surveying contracting business, centered on subsidiary Sanwa, saw sales decline year on year due to intensifying bidding competition and a shortage of engineers. For the next fiscal year (FY2027, ending March 2027), the company plans net sales of ¥3,757 million and segment profit of ¥655 million (operating margin of 17.4%), projecting increases in both revenue and profit. The order backlog to be recognized as sales in the next fiscal year stood at ¥51 million at period end.

Key Products

Growth Drivers

• Continued acquisition of stable revenue through regular updates and support services (ATM'S) for the flagship product "WingneoINFINITY"
• Continued strength in update proposals addressing the end of Windows 10 support and revisions to work procedure standards
• Increased sales from large-scale order intake from government agencies
• Revenue contribution from bundled proposals of the new product "ANIST" with handy scanners
• Expectations for revenue generation in the next fiscal year from new feature options added to WingEarth (end of March)
• Expansion of business activity areas utilizing newly established locations in the current consolidated fiscal year
• Strengthening relationships with sales partners and increasing points of contact with customers and distributors
• Providing 3D data utilization solutions capturing the trend of i-Construction in the construction-related industry
• Recovery of the surveying contracting business through new customer development for private construction consulting firms and rejuvenation of engineers at subsidiary Sanwa

Risks

• Pressure on profitability in the surveying contracting business due to intensifying bidding competition for public surveys ordered by government agencies
• Risk of technology transfer difficulties due to the aging and decline in the number of surveying engineers
• Risk of declining capital expenditure appetite among customers amid an uncertain economic environment
• Risk of missed business opportunities due to rising procurement costs, production delays, and inventory shortages related to surveying equipment and other hardware
• Risk of cost concentration in the first half and profit contribution skewed to the second half due to human capital investment (increased hiring plans)
• Risk of a rebound decline following the temporary loss of demand after the end of Windows 10 support and similar factors