SAISON TECHNOLOGY CO.,LTD.
9640・Standard Market・Information & Communication
Business
Saison Technology Co., Ltd. (formerly Saison Information Systems) is an information services company founded in 1970. It comprises three segments: the HULFT Business, centered on "HULFT" and "DataSpider Servista," the de facto standard in domestic data integration software; the Data Platform Business, whose growth engine is the cloud-based iPaaS "HULFT Square"; and the System Contracting Business, serving the financial and distribution/retail industries. Its major customers are large corporations and municipalities in the financial and distribution/retail sectors, led by Credit Saison (31.1% of net sales). The company changed to its current name in April 2024 and is currently driving a business structure transformation from a system contracting model to one centered on providing proprietary product services.
Business Model
In the HULFT Business, stable cash flow is generated through license sales and support service contracts (renewal-based stock revenue). In the Data Platform Business, the company is expanding HULFT Square's subscription-based cloud service, aiming to increase adoption among enterprise companies. The System Contracting Business provides information processing, development, and operation services for the financial and distribution/retail industries, and while maintaining its existing customer base, the company is advancing cost efficiency by reallocating sales resources toward the data integration business.
Company Strengths
HULFT and DataSpider Servista have long track records as the de facto standard for data integration software in Japan. Support service revenue grew steadily, up 5.8% year on year in FY2026 (ending March 2026), forming a stable recurring revenue base driven by continued renewals from existing customers.
As of the end of FY2026 (ending March 2026), interest-bearing debt consisted only of lease obligations of ¥4 million, making the company effectively debt-free. It held cash and cash equivalents of ¥12,765 million, with an equity ratio of 66.2%. The company has a financial base that can cover working capital and investment needs with its own funds, giving it high flexibility for growth investment.
The company maintains a long-term relationship with Credit Saison based on the "Memorandum on Group Management" concluded in 2008, with sales to the company of ¥6,826 million in FY2026 (ending March 2026), accounting for 31.1% of total sales. Half a century of system operation experience in the financial and distribution industries underpins the customer retention rate.
ENVALITH's Perspective
Performance Trend
In FY2026 (ending March 2026), revenue came to ¥21,917 million (down 10.1% year on year), operating profit was ¥1,602 million (down 25.2%), and net profit attributable to owners of the parent was ¥1,086 million (down 27.9%), representing a substantial decline across all indicators. The main causes were a decrease in revenue in the System Contracting Business due to the winding-down of a large-scale project (down 20.8%) and the recording of ¥439 million in provision for loss on order backlog associated with a heavy workload burden on certain projects in the Data Platform Business. On the other hand, HULFT Square expanded rapidly, up 113.8% year on year, and the proportion of revenue from the data linkage business improved to 58.2% (up 5.6 percentage points year on year). The full-year earnings forecast for FY2027 (ending March 2027) anticipates continued declines in both revenue and profit, with revenue of ¥21,100 million (down 3.7% year on year) and operating profit of ¥1,500 million (down 6.4%). Looking at the trend over the past five fiscal periods, performance bottomed out in FY2024 (ending March 2024) with operating profit of ¥1,024 million, recovered in FY2025 (ending March 2025), but deteriorated again in FY2026 (ending March 2026), revealing the instability of earnings during this transitional period of business structure transformation.
Growth Strategy
Driving business structure transformation from system contracting to proprietary product/service provision through four shifts
Positioning the expansion of adoption of the Japan-originated iPaaS "HULFT Square" as the top-priority initiative, deployment is centered on enterprise companies. In FY2026 (ending March 2026), growth of 113.8% year-on-year was achieved, and eight adoption cases were announced, including Japan Airlines and Bank of Yokohama. The data integration business revenue ratio reached 58.2% (up 5.6 percentage points year-on-year), reflecting progress in the business shift in numerical terms.
In February 2026, began offering "DataSpider Servista 5," which has been renewed on a Java 21 foundation. Through strengthened integration with HULFT Square, the company is promoting data integration and AI utilization between legacy systems and modern environments. It has established a framework to consistently capture migration demand from on-premises to cloud with its own products.
The U.S. subsidiary has concluded strategic partnerships with Opnova (agentic AI) and Vectara (RAG). By combining the company's data integration technology with advanced AI technology, it supports business automation and conversational AI for customers in financial services, manufacturing, and other industries. The company aims to establish its position as the "unique company connecting AI and core business operations" in the age of AI.
Starting from the following consolidated fiscal year, the company will change from a function-based organization to a hybrid structure combining business-based and function-based organization, reclassifying part of the Data Platform Business into the System Contracting Business. This aims to balance business profitability with product/service development and operation functions, and to reduce losses in the Data Platform Business. On a post-reclassification basis for FY2026 (ending March 2026), the operating loss of the Data Platform Business would be ¥2,731 million (¥3,347 million before reclassification).
Last updated: July 19, 2026