Fast Accounting Co.,Ltd.

Business Details

First Accounting is a single-segment company providing accounting business automation services utilizing AI-OCR and generative AI. Its primary target is enterprises (large companies) with revenue of ¥500 million or more, and it earns revenue through three forms as a SaaS-type cloud service: monthly subscription fees, usage-based fees, and professional services. As of the end of March 2026, the number of client companies stood at 170. The Robota Series and Remota have continued to perform well, and full-scale sales of Accounting AI Agent-related services have also begun.

Recent Overview

Recorded Q1 FY2026 revenue of ¥662 million and operating profit of ¥133 million; number of client companies expanded to 170

In the first quarter of FY2026 (ending December 2026) (January to March 2026), the company recorded revenue of ¥662 million, operating profit of ¥133 million, ordinary profit of ¥132 million, and quarterly net income attributable to owners of the parent of ¥83 million. The gross profit margin was 73.7%, exceeding the full-year figure for the previous fiscal year (72.4%). The number of client companies increased from 165 at the end of the previous fiscal year to 170. The Robota Series and Remota continued to perform well, and full-scale sales of Accounting AI Agent-related services began. There has been no change to the full-year earnings forecast (revenue of ¥3,109 million, operating profit of ¥312 million), with Q1 revenue corresponding to approximately 21.3% of the full-year forecast. Additionally, the company acquired 175,600 shares of treasury stock (approximately ¥150 million), and the equity ratio declined slightly from 57.3% to 56.7%.

Key Products

Growth Drivers

• Continued expansion of demand for accounting DX (digital transformation) among enterprises (demand for regulatory compliance such as the spread of Peppol and the Electronic Books Preservation Act)
• Expansion of professional service revenue driven by the full-scale launch of sales of the Accounting AI Agent
• Improved revenue continuity through the accumulation of monthly recurring revenue (MRR)
• Increase in the number of client companies (from 165 to 170) and improved ARPA through upselling and cross-selling
• Growing need for accounting business automation amid the increasing complexity of environments where paper media and electronic data coexist
• Provision of new high-value-added services through continued research and development of generative AI
• Customer acquisition at low advertising cost through the partner sales structure (sales partners and OEM partners)
• Promotion of overseas expansion through the U.S. subsidiary (Illinois)

Risks

• Intensifying competition due to accelerating technological innovation in the AI market and an increasing number of new entrants
• Difficulty securing excellent AI and engineering talent (competition with peer companies)
• Risk of insufficient service delivery capability amid the increasing sophistication and complexity of Accounting AI Agent implementation projects
• Impact on the recoverability of deferred tax assets if the number of new monthly-fee subscriber companies falls short of the business plan
• Risk of leakage of clients' confidential information and personal data (requiring continuous strengthening of information management systems)
• Risk of system failures or instability in the cloud service infrastructure (load concentration at month-end and month-start)
• Risks related to local competitors in U.S. expansion (multiple companies providing OCR technology) and the need to respond to regulations and business practices
• Macroeconomic risks such as a slowdown in overseas economies due to U.S. tariff policy and rising resource and energy prices stemming from conflict in the Middle East