Asia Air Survey Co., Ltd.
9233・Standard Market・Air Transportation
Business
Asia Air Survey Co., Ltd. is a spatial information consulting company founded in 1954. Its main customers are central government agencies, local public bodies, and public utility operators such as electric power companies, and it conducts business both domestically and internationally. Its operations are built on two pillars: the Social Infrastructure Management Business (roads, railways, energy, disaster recovery, etc.) and the National Land Conservation Consulting Business (rivers, erosion control, forests, environmental conservation, etc.), leveraging advanced spatial information technologies such as airborne laser scanning, MMS, UAVs, GIS, and 3D city models to address social challenges. Operating as a group with 17 consolidated subsidiaries and 4 affiliated companies, consolidated net sales for the fiscal year ended September 2025 were ¥41,591 million.
Business Model
An order-based business model providing services such as surveying, analysis, consulting, and system construction, primarily based on orders from central government agencies, local governments, and other public entities. In FY2025 (ending September 2025), order intake was ¥41,581 million, roughly matching net sales, while the order backlog stood at ¥26,037 million. The company is diversifying its revenue portfolio through software such as its proprietary GIS product "ALANDIS+" and expansion into new business areas including sensing robots and Water PPP & Water Supply/Sewerage Maintenance Service.
Company Strengths
The company has continued operating as a spatial information consultant for over 70 years since its founding in 1954. With 17 consolidated subsidiaries and 4 affiliated companies, it has built a nationwide network of locations including Sendai, Osaka, Nagoya, and Fukuoka. It has obtained multiple international certifications such as ISO 9001, ISO 14001, ISO/IEC 27001, and ISO 55001, externally demonstrating high standards in quality, information security, and asset management.
The disaster prevention, mitigation, and infrastructure maintenance fields incorporated in the First Mid-Term Implementation Plan for National Land Resilience formulated in June 2025 and the Comprehensive Economic Package adopted by the Cabinet in November 2024 align with the company's core business areas. The National Land Conservation Consulting Business captured demand related to recovery from the Noto Peninsula earthquake and heavy rain disasters, achieving significant growth with net sales of ¥12,893 million in FY2025 (ended September 2025), up 20.6% year on year.
The company owns proprietary products including its in-house developed GIS product "ALANDIS+," its 3D-compatible version "ALANDIS Connect," and the railway ICT solution "RaiLis®." In FY2025 (ended September 2025), it invested ¥411 million in research and development, continuing to advance cutting-edge technologies such as 3D Gaussian Splatting, interferometric SAR analysis, and AI-based automatic point cloud classification. The automatic point cloud data classification technology has been fully implemented in the production division, contributing to production structure reform.
ENVALITH's Perspective
Performance Trend
Revenue grew for five consecutive fiscal years, from ¥32,507 million in FY2021 to ¥41,591 million in FY2025, but the growth rate has been on a decelerating trend. In H1 of FY2026 (ending March 2026), revenue turned to a decline of 3.9% year-on-year, reaching ¥23,627 million. On the profit side, cost pressures continued, including rising prices across the board, higher personnel expenses, equity-method investment losses (¥171 million), and increased interest expenses (¥104 million), causing the operating margin to fall to 14.6% on an H1 basis (versus 15.6% in the same period of the previous year). As an external factor, delays in the passage of the public works budget affected both order intake and revenue. The full-year forecast (revenue of ¥45,000 million, operating profit of ¥3,000 million) anticipates increases in both revenue and profit compared to the previous fiscal year, but this is premised on a recovery in orders in the second half.
Growth Strategy
Toward Long-term Vision 2033, diversifying the business portfolio through M&A, DX, and new businesses
Through a strategic partnership with Adsol Nissin, the company is advancing the implementation of smart city-related services utilizing 3D city models and digital twins. It aims to provide high-value-added services through the fusion of spatial information technology and digital technology.
In infrastructure fields such as water supply/sewerage, roads, rivers, and public facilities, the company leverages spatial information data to provide integrated infrastructure management support that includes not only inspection and maintenance but also planning formulation and renewal support. Expansion into new business areas such as Water PPP is also progressing.
The company continues to expand its business portfolio through M&A activities such as the acquisition of Airport Service Co., Ltd. (subsidiary as of October 2025). It aims to diversify its revenue base by expanding into new areas such as sensing robots, UAVs, and satellite data utilization.
As part of GHG emissions reduction efforts aligned with SBT targets, the company is advancing the use of Sustainable Aviation Fuel (SAF) for its own operated aircraft and the phased expansion of its renewable energy usage ratio. It also continues to contribute to the regeneration of regional seaweed beds through the procurement of J-Blue Credits.
Last updated: July 17, 2026