OBIC BUSINESS CONSULTANTS CO.,LTD.
4733・Prime Market・Information & Communication
OBIC BUSINESS CONSULTANTS CO.,LTD. (Software Business, Single Segment)
Developer and provider of core business cloud SaaS for domestic small and medium-sized enterprises
| Period | Current | Previous | Change |
|---|---|---|---|
| Net sales | ¥51,400 million | ¥46,984 million | ↑ |
| Operating profit | ¥23,580 million | ¥21,744 million | ↑ |
| Ordinary profit | ¥25,218 million | ¥23,044 million | ↑ |
| Net income for the period | ¥18,132 million | ¥16,182 million | ↑ |
| Operating margin | 45.9% | 46.3% | ↓ |
| Cloud sales | ¥31,351 million | ¥25,943 million | ↑ |
| Product sales | ¥36,809 million | ¥31,871 million | ↑ |
| Service sales | ¥14,591 million | ¥15,112 million | ↓ |
| Net income per share | ¥241.20 | ¥215.27 | ↑ |
| Net assets per share | ¥2,253.05 | ¥2,114.91 | ↑ |
| Total assets | ¥220,801 million | ¥208,638 million | ↑ |
| Net assets | ¥169,376 million | ¥158,990 million | ↑ |
| Equity ratio | 76.7% | 76.2% | ↑ |
| Annual dividend | ¥111.00 | ¥100.00 | ↑ |
| Payout ratio | 46.0% | 46.5% | ↓ |
| R&D expenses | ¥4,428 million | ¥4,059 million | ↑ |
Business Details
The company develops and provides cloud (SaaS) and on-premises products centered on the "Bugyo Series" of core business solutions for accounting, HR, and payroll. Sales are conducted primarily through partner companies. Revenue is categorized into "Products" (Solution Technology plus related products) and "Services" (maintenance and other), and the accelerating shift to cloud services has stabilized the revenue structure. In FY2026 (ending March 2026), net sales were ¥51,400 million and the operating margin was 45.9%, maintaining a highly profitable business model.
Recent Overview
Cloud sales reached 61% of total sales, and full-scale rollout of AI agent services also underway
In FY2026 (ending March 2026), cloud sales of ¥31,351 million (up 20.8% year on year) drove overall performance, achieving a 9.4% increase in net sales and a 12.0% increase in net income for the period. Meanwhile, on-premises sales fell sharply to ¥692 million (down 60.1% year on year). The company launched products supporting the new lease accounting standard and the Bugyo AI Agent Service, and also began expansion into the government market following ISMAP registration (the first for a domestically developed SaaS ERP). For FY2027 (ending March 2027), the company forecasts net sales of ¥57,500 million (up 11.9%) and operating profit of ¥26,500 million (up 12.4%), and plans an annual dividend of ¥130 (payout ratio of 50.5%).
Key Products
Growth Drivers
- Continued acquisition of new customers for cloud SaaS (Bugyo Cloud) and accelerating migration of existing customers from on-premises (cloud sales share rising from 55.2% to 61.0%)
- Demand for product updates driven by the need to comply with the new lease accounting standard and other legal/regulatory changes (e.g., Fixed Asset Bugyo V ERP Cloud)
- Expansion into the AX (AI Transformation) support market through the development and expanded provision of AI agent services
- Expansion of sales channels into new markets, including the government market, triggered by ISMAP registration
- Strengthened sales capability through enhanced collaboration with partner companies via partner conferences (held at 13 venues nationwide)
- Improved convenience and stronger engagement for existing customers through the launch of Bugyo LAND User Cockpit
Risks
- Continued decline in on-premises maintenance sales (¥11,764 million in FY2026 (ending March 2026), down 4.5% year on year), shrinking the existing revenue base
- Slight decline in operating margin (from 46.3% to 45.9%) due to an increase in selling, general and administrative expenses (¥19,924 million, up 13.2% year on year)
- Risk of increased development costs and changes to product development schedules due to revisions to accounting standards, tax laws, and other regulations
- Security risks related to cloud services (cyberattacks, ransomware, information leaks, etc.)
- Risk of delayed response to rapid changes in technology and market needs (such as AI) in the information services industry
- Impact on capital investment appetite among small and medium-sized enterprises from a deteriorating domestic economy due to geopolitical risks such as US trade policy and Middle East tensions
Last updated: June 18, 2026