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EDINET 3802 Positive Risk Analyzed 📈 Growth 6/10

ECOMIC CO.,LTD

Annual Securities Report - 29th Term(2025/04/01 - 2026/03/31) ／ 2026-06-23 11:22

Covers EDINET statutory filings (TDNET timely disclosures / earnings flashes are not included).

EarningsBuybackVolumePricingNew MarketMargin
AI Summary 2026-06-23 11:26

EcoMic achieved strong earnings growth in BPaaS: Revenue +10.6% (¥2,121M → ¥2,346M), Operating Profit +271.0% (¥64M → ¥174M). Gross margin improved 4.7 pts to 32.5% via operational efficiency. Executed ¥543M share buyback (1,263K shares).

KEY POINTS
  • Revenue +10.6% to ¥2,346M; OP +271% to ¥174M; strong profit growth momentum
  • Year-end tax settlement BPaaS volume and unit price growth; new Shanghai subsidiary consolidation added value
  • Gross margin +4.7 pts to 32.5% via continuous operational efficiency improvements
  • Operating margin 7.4%, targeting 10% margin goal; continued focus on profitability enhancement
  • ¥543M share buyback (1,263K shares) executed; dividend payout ratio 104% amid capital optimization
📊 Revenue
Revenue +10.6% (¥2,121M → ¥2,346M)
💰 Operating profit
OP +271.0% (¥64M → ¥174M)
🔮 Outlook
FY2026: Revenue +2.3%, OP +3.7%, Net Income +29.1%. Conservative outlook; continued focus on 10% operating margin target via efficiency gains.
📈 Growth outlook 📈 Growth 6/10
Moderate growth trajectory with stable BPaaS demand, but vulnerable to single-service concentration risk. AI/RPA efficiency gains and expansion into HR/payroll adjacent services will drive next phase. Operating margin target (10%) remains under pursuit.
Growth drivers
  • Volume and unit price growth in year-end settlement BPaaS (solid existing customer demand)
  • Payroll BPaaS average unit price improvement (higher value delivery)
  • Revenue contribution from Shanghai subsidiary consolidation (new market expansion)
  • Cost of sales ratio decline via operational efficiency (operational leverage)
Risk and growth scores and tags are AI-generated estimates from analyzing the disclosure. They are not guarantees of fact, nor investment advice or recommendations. Make investment decisions at your own discretion.
⚠️ Extracted Risk Factors
CategoryDescriptionScoreNew
Intensifying Competition Risk Competitive landscape rapidly evolving with SaaS vendors, ERP firms, and IT service companies entering the market. Price competition intensification and large player share gains risk eroding profitability and competitive position. 8/10
Cybersecurity & Data Protection Risk Handles sensitive personal data including salary info and My Number. Risk of data breach via cyberattack, insider threat, or human error. Potential for customer trust loss and compensation claims. 8/10
System & Cloud Infrastructure Risk External cloud service outages, cyberattacks, system failures, or connectivity issues could cause service disruptions and processing delays, damaging customer relationships and revenue. 7/10
Single Business Concentration Risk High dependence on payroll-related BPaaS services within single segment. Revenue concentration risk if specific service demand declines or key customer relationships change materially. 7/10
Foreign Exchange Risk China operations (Qingdao, Shanghai) exposed to RMB volatility. Yuan appreciation and wage inflation could materially increase costs and compress margins. 6/10
Talent Acquisition & Retention Risk Competition for skilled personnel with both operational and IT expertise is intensifying. Talent shortages, attrition, or training delays risk service quality degradation and productivity loss. 6/10
Regulatory Change Risk Tax law, social insurance, and data protection regulation changes require system updates and process redesign. Risk of incremental costs and service delivery disruptions. 6/10
Seasonal Demand Volatility Significant revenue concentration in H2 (Q3 50.7%, Q4 20.4%) due to year-end settlement work. Changes in compensation practices (annual salary adoption) could disrupt this seasonal pattern. 4/10
8/10 Intensifying Competition Risk
Competitive landscape rapidly evolving with SaaS vendors, ERP firms, and IT service companies entering the market. Price competition intensification and large player share gains risk eroding profitability and competitive position.
8/10 Cybersecurity & Data Protection Risk
Handles sensitive personal data including salary info and My Number. Risk of data breach via cyberattack, insider threat, or human error. Potential for customer trust loss and compensation claims.
7/10 System & Cloud Infrastructure Risk
External cloud service outages, cyberattacks, system failures, or connectivity issues could cause service disruptions and processing delays, damaging customer relationships and revenue.
7/10 Single Business Concentration Risk
High dependence on payroll-related BPaaS services within single segment. Revenue concentration risk if specific service demand declines or key customer relationships change materially.
6/10 Foreign Exchange Risk
China operations (Qingdao, Shanghai) exposed to RMB volatility. Yuan appreciation and wage inflation could materially increase costs and compress margins.
6/10 Talent Acquisition & Retention Risk
Competition for skilled personnel with both operational and IT expertise is intensifying. Talent shortages, attrition, or training delays risk service quality degradation and productivity loss.
6/10 Regulatory Change Risk
Tax law, social insurance, and data protection regulation changes require system updates and process redesign. Risk of incremental costs and service delivery disruptions.
4/10 Seasonal Demand Volatility
Significant revenue concentration in H2 (Q3 50.7%, Q4 20.4%) due to year-end settlement work. Changes in compensation practices (annual salary adoption) could disrupt this seasonal pattern.
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