SUS Co.,Ltd.
6554・Growth Market・Services
Business
SUS Co., Ltd. was founded in 1999 and is headquartered in Kyoto, operating a Solutions Business centered on engineer dispatch and contracting services across 7 domestic locations. It targets major manufacturers and system integrators as key clients across four fields: IT, machinery, electrical/electronics, and chemistry/biology, and has a unique business model that develops full-time employee engineers through a "working adult school" approach. Through 5 consolidated subsidiaries, it also operates ERP implementation support (Consulting Business), AR/VR and AI development (AR/VR Business), and support for disability employment and regenerative medicine implementation (Other). In FY2025 (ending September 2025), consolidated net sales reached ¥15,015 million, with the number of registered engineers reaching 2,155.
Business Model
The company hires engineers as full-time employees and continuously develops both their technical and human skills, thereby achieving increases in dispatch unit prices. In FY2025 (ending September 2025), the dispatch unit price increase rate was 3.8%, and the utilization rate was 94.2%. The majority of revenue consists of monthly income from dispatch contracts, with additional performance-based revenue from contracting agreements (IT Contracting Service revenue exceeding ¥1,000 million). The Consulting Business and AR/VR Business contribute to revenue diversification as high value-added services.
Company Strengths
Revenue grew for five consecutive fiscal years, from ¥9,420 million in FY2021 to ¥15,015 million in FY2025. Operating profit increased 46.3% year on year, from ¥829 million in FY2024 to ¥1,212 million in FY2025, and net income also rose 52.0% year on year to ¥915 million. The operating profit margin reached 8.1%, and ROE reached 23.5%.
As of the end of September 2025, the number of registered engineers stood at 2,155 (up 188 from the previous fiscal year-end). Through active hiring—including 281 new graduate hires in the fiscal year—and earlier deployment to assignments, the utilization rate improved by 0.9 percentage points year on year to 94.2%. The company maintains a stable talent supply capability amid a chronic shortage of engineers in the industry.
As of the end of the fiscal year ended September 2025, interest-bearing debt stood at ¥10 million, representing virtually debt-free management. Cash and cash equivalents totaled ¥3,407 million (up ¥595 million from the previous fiscal year-end), and operating cash flow was positive at ¥1,062 million. The company has a robust financial base capable of covering working capital and investment funds with its own resources.
ENVALITH's Perspective
Performance Trend
In H1 of FY2026 (ending March 2026) (October 2025–March 2026), revenue was ¥8,034 million (+7.7% YoY), operating income was ¥871 million (+6.6% YoY), ordinary income was ¥911 million (+6.4% YoY), and net income attributable to owners of the parent for the interim period was ¥679 million (+17.0% YoY). The high growth rate in net income is attributable to the recognition of a ¥70 million extraordinary gain from the transfer of the HR Consulting business. Over the past five fiscal years, revenue has expanded consistently, from ¥9,420 million to ¥10,465 million, ¥11,501 million, ¥13,219 million, and ¥15,015 million. In terms of the external environment, a recovery in capital expenditure, driven by improving employment and income conditions, is supporting demand for engineers, but downside risks to the economy stemming from U.S. trade policy and Middle East affairs remain a source of uncertainty going forward. The full-year earnings forecast remains unchanged, with revenue of ¥16,902 million (+12.6% YoY) and operating income of ¥1,365 million (+12.6% YoY).
Growth Strategy
Building second and third earnings pillars in Consulting, AR/VR, and new businesses, centered on scaling up the Solutions Business
The company steadily increases its enrolled engineer headcount through continuous new graduate and experienced-hire recruitment, while pursuing continuous increases in dispatch unit prices through generative AI tool adoption to enhance AI skills, promotion of participation in upstream projects, and business partner collaboration measures. As of the end of March 2026, enrolled engineers totaled 2,105, utilization rate was 96.9%, and dispatch unit price rose 4.4% year-on-year.
Order intake in IT Contracting Service centered on the Eastern Japan area is progressing steadily. Strengthening the order-taking structure through increased engineer headcount and rising project profit margins are driving steady progress in both growth and profitability. Preparation costs for the Fukuoka office opening have already been recorded, and new customer development in Western Japan is underway.
The company is promoting improved cost management and higher gross margin through optimal resource balance between in-house IT consultants and business partners. It has begun taking orders for user support projects (participation in end-user information systems departments), aiming to create future order opportunities through building mid- to long-term collaborative support structures. Strengthening of sales collaboration with the Solutions Business also continues.
The company undertakes development of industrial simulators, metaverse platforms, and AI utilization systems, stably securing continuing projects from existing customers in the AI domain. It leverages accumulated know-how in industrial products for proposals and deploys 3D Utilization Services such as Virtual Catalogs. It also contributes to the recruitment and retention of excellent engineers as a group branding function.
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Last updated: July 17, 2026