System Research Co., Ltd. · TSE:3771

System Research — 1H FY3/26 Earnings Presentation

53 slides from System Research's earnings presentation, November 2025

Slide 1: First Half of Fiscal Year Ending March 2026 Results Briefing
First Half of Fiscal Year Ending March 2026 (1H FY3/26) Results Briefing SYSTEM RESEARCH CO., LTD. (TSE Prime/NSE Premier: 3771 ) © SYSTEM RESEARCH CO.,LTD.
Slide 2: Contents
Contents 01. Company Profile 02. First Half of FY3/26 Results 03. Medium-Term Management Plan 04. Sustainability 05. Solutions 06. Shareholder Return 07. References Head office building, front entrance (Iwatsukahontori, Nakamura-ku, Nagoya) © SYSTEM RESEARCH CO.,LTD. 1
Slide 3: 01. Company Profile
会社概要 01. Company Profile Head office building (Iwatsukahontori, Nakamura-ku, Nagoya) © SYSTEM RESEARCH CO.,LTD. 2
Slide 4: Company Profile
Company Profile Established March 1981 TSE Prime / NSE Premier Listed stock exchange * Listed on the First Section of the Tokyo Stock Exchange in December 2016 Duplicate listing of the Nagoya Stock Exchange in March 2025 Representative Hiroshi Hirayama, Representative Director and President Capital
Slide 5: Branches and Sales Locations
Branches and Sales Locations Number of employees (Consolidated): 1,615 Sapporo 札幌 Number of employees (Non-consolidated): 1,593 Sowel Co., Ltd.: 22 (As of September 30, 2025) Osaka Branch Nagoya Head Office 209 1,004 Sendai Tokyo Branch Fukuoka 福岡 380 Main locations Sales network © SYSTEM RESEARCH C
Slide 6: Business Activities of Subsidiaries
Business Activities of Subsidiaries Business of Special Subsidiary Sowel Co., Ltd. Address: 6-52-18 Imajuku, Ogaki-shi, Gifu Investment ratio: SYSTEM RESEARCH CO., LTD. 75%, Weltechnos Co., Ltd. 25% Purpose: Providing support for independence and opportunities to experience the joy of living for peo
Slide 7: An IT Partner that is Close to Your Business
Corporate Vision An IT Partner that is Close to Your Business Corporate Vision － Become professionals who customers can rely on － Refine our area of expertise and create new value, with technologies we can be proud of － Grow through work and feel that we are contributing to society and playing an ac
Slide 8: Major Customers
Major Customers Computer Manufacturers TOYOTA Group (Approx. 30% of total sales) Fujitsu Limited Toyota Motor Corporation Hitachi, Ltd. Toyota Systems Corporation IBM Japan, Ltd. Toyota Industries Group Toshiba Digital Solutions Corporation Toyota Tsusho Group Denso Corp. Major SIers Other End-users
Slide 10: Summary of First Half of FY3/26 Results (Consolidated)
Summary of First Half of FY3/26 Results (Consolidated) (Million yen) Net sales increased by 12.3% year on year, setting a new record. We also achieved record operating profit and ordinary profit. Percentage of net sales (%) Percentage of net sales (%) 1H FY3/25 1H FY3/26 YoY changes (April 2024 – Se
Slide 11: First Half of FY3/26 Sales by Category
First Half of FY3/26 Sales by Category (Million yen) 1H FY3/25 1H FY3/26 Business Sales fields Changes description Net sales Net sales Increased orders SI service SI services 5,071 5,346 +5.4% for contract-based projects Software Securing repeat SI service development 6,938 8,104 +16.8% orders Softw
Slide 12: FY3/26 Results Forecast (Consolidated)
FY3/26 Results Forecast (Consolidated) (Million yen) FY3/25 FY3/26 [Full year] YoY changes Results Forecast Net sales 25,931 29,314 3,383 +13.0% Operating profit 2,997 3,445 448 +14.9% Ordinary profit 3,066 3,504 438 +14.3% Profit attributable to 2,194 2,535 341 +15.5% owners of parent © SYSTEM RESE
Slide 13: Net Sales (First Half/Full Year) (Consolidated)
Net Sales (First Half/Full Year) (Consolidated) (Million yen) Full year First half 29,314 (+13.0%) 25,931 FY3/26 (+11.1%) 23,320 Forecasts (+8.1%) 21,556 (+17.1%) 18,405 12,635 14,194 11,308 (+12.3%) (+11.7%) 10,489 (+7.8%) (+23.2%) 8,512 FY3/22 FY3/23 FY3/24 FY3/25 FY3/26 © SYSTEM RESEARCH CO.,LTD.
Slide 14: Operating Profit (First Half/Full Year) (Consolidated)
Operating Profit (First Half/Full Year) (Consolidated) (Million yen) Full year First half 3,445 (+14.9%) 2,997 (+10.8%) FY3/26 2,703 Forecasts (+8.0%) 2,501 (+20.3%) 2,078 1,519 (+24.3%) 1,186 1,221 1,068 (+11.0%) (+2.9%) (+44.3%) 740 FY3/22 FY3/23 FY3/24 FY3/25 FY3/26 © SYSTEM RESEARCH CO.,LTD. 13
Slide 15: Recruitment (Non-consolidated)
Recruitment (Non-consolidated) (Persons) New graduate recruitment for the past five years 171 134 136 128 122 Joined in 2021 Joined in 2022 Joined in 2023 Joined in 2024 Joined in 2025 © SYSTEM RESEARCH CO.,LTD. 14
Slide 17: Medium-Term (3-year) Management Plan
Medium-Term (3-year) Management Plan (Consolidated Net Sales and Consolidated Operating Profit) (Million yen) ■ Net 売上高 sales ■ Operating 営業利益 profit 40,000 6,000 36,776 35,000 32,832 5,000 30,000 29,314 25,931 4,400 4,000 25,000 23,320 3,896 3,445 20,000 3,000 2,997 2,703 15,000 2,000 10,000 1,000
Slide 18: Medium-Term (3-year) Management Plan
Medium-Term (3-year) Management Plan (Consolidated Employees) (Persons) 2,200 2,000 1,800 1,656 1,572 April 2024 April 2025 April 2026 April 2027 April 2028 (Plan) (Plan) (Plan) © SYSTEM RESEARCH CO.,LTD. 17
Slide 19: Medium- and Long-term Targets
Medium- and Long-term Targets Long-term target 100 billion yen Medium-term target 50 billion yen Short-term target 30 billion yen 40th term (FY3/20) 15 billion yen 35th term (FY3/15) 10 billion yen 100 billion yen Sales Profit Employees TSE Prime Tokyo stock exchange, 1st Section © SYSTEM RESEARCH C
Slide 20: Five Initiatives
Next Vision 50th With Next Vision 50th, we aim to secure continuous profits, enhance corporate value, and create employment opportunities, while taking into account changes in the external environment (economic conditions and technological innovations). Expansion and increased sophistication of Five
Slide 26: Outlook and Future Issues of the Industry
Outlook and Future Issues of the Industry Future business environment Demand for modernization of Engineer shortage Rise of generative AI legacy systems - In 2030, shortage of up to 790,000 IT - Automation and streamlining of - Legacy systems still remain at 74% of human resources is projected. deve
Slide 28: Sustainability Initiatives
Sustainability Initiatives Health and productivity management Encourage diversity equity and inclusion initiatives ■ Relationship with the SDGs (focus goals) ■ Relationship with the SDGs (focus goals) ■ Main Initiatives ■ Main Initiatives • Promote active participation of diverse individuals (women,
Slide 29: Results of Initiatives in Numbers (as of March 31, 2025)
Results of Initiatives in Numbers (as of March 31, 2025) Percentage of female Percentage of female Percentage of employees employees in management employees in continuous taking childcare leave positions employment Female Male 11.2％ 95.2％ 100％ 53％ Percentage of male employees Target 7.0% Target 80.0
Slide 30: Recognition and Certification (External Evaluation)
Recognition and Certification (External Evaluation) Received DX Certified Business Received certification of Health & Received iCD Company Certification Operator certification Productivity Management Outstanding Gold★★ certification Organizations 2025 by the Ministry of Economy, Trade and Industry,
Slide 32: SI Service and Software Development
SI Service and Software Development We face up to customer management issues and provide services that satisfy them, using the know-how and advanced technologies that we have cultivated. Automotives Logistics Distribution Telecommunications Plant and production Consulting and control line control Lo
Slide 33: Main Development Achievements in the SI Services (1)
Main Development Achievements in the SI Services (1) 01 A sales information management system for an automobile dealer Client: Major automobile manufacturer Development of a system for managing business negotiations/quotations and receipt and placement of orders and for managing sales support and cu
Slide 34: Main Development Achievements in the SI Services (2)
Main Development Achievements in the SI Services (2) 03 A control and management system for automated warehouses Client: Major logistics & manufacturing company Development of a system that automates the management of processes from receipt to shipping at logistics centers. The system is also equipp
Slide 35: Main Development Achievements in the SI Services (3)
Main Development Achievements in the SI Services (3) 05 IT operations analysis and consulting Client: Major medical product supplier Support for the reinforcement of the client’s structure and sales measures provided through IT operations analysis and consulting as well as introduction of CTI and th
Slide 36: Main Development Achievements in the SI Services (4)
Main Development Achievements in the SI Services (4) 07 ERP system of a trading company Client: Major trading company Introduction, development, and version upgrade tasks for an SAP system for sales, purchasing, and accounting operation domains. The system was also introduced to subsidiaries. Low-co
Slide 37: E-commerce Support
E-commerce Support A shopping promotion site where you can encounter Online store creation and operation web service works instilled with the passions of creators Easy My Shop Creator’s Mall ALULU Easy My Shop Creator's Mall ALULU Two dimensional Two dimensional code code  Easily create an online s
Slide 38: ilii Products (Business Package for Small and Medium Enterprises)
ilii Products (Business Package for Small and Medium Enterprises) Leveraging know-how accumulated over more than 40 years of experience in business software development, we have introduced software to many customers, from back-office systems such as finance and payroll to front-end systems such as C
Slide 39: AI Solution (1): AI assistant PathBee
AI Solution (1) AI assistant PathBee From research to dialogue AI as a window to knowledge What is the AI assistant PathBee? PathBee is an AI chatbot service that automates responses to inquiries from inside and outside a company. With a combination of RAG technology and generative AI, PathBee looks
Slide 40: AI Solution (2)
AIofSolution The Spirit Revolution (2) The service launched in RPA December 2024! Generative AI-powered advanced document search support service Ask a question in an Search through the company’s Generative AI online chat internal information answers If a user asks a question in the chat format, gene
Slide 41: AI Solution (3)
AI Solution (3) Announcement of a joint release with JI Accident & Fire Insurance Co., Ltd. and IBM Japan, Ltd. in September 2024! An insured person uploads an AI determines whether or not the Insurance claim payment is image of a damaged suitcase. suitcase has been damaged. made automatically. Cust
Slide 42: Other Solutions
Other Solutions Other Solutions RPA Development platform Power Platform ERP BI CRM AI Infrastructure Operations packages *Company names, product and service names and logo marks are trade names, trademarks or registered trademarks of their respective owners. © SYSTEM RESEARCH CO.,LTD. 41
Slide 44: Shareholder Return
Shareholder Return In terms of dividend payouts to shareholders, in order to ensure that our shares are held in a long-term and stable manner, we intend to maintain stable dividends. To increase distributions to shareholders, we are targeting a dividend payout ratio of 40%. FY3/26 FY3/23 FY3/24 FY3/
Slide 45: 2024 MINKABU Award Won
2024 MINKABU Award Won One of 40 companies selected from the 1,641 companies (as of the end of November 2024) listed on the Prime Market of the Tokyo Stock Exchange. We will continue to enhance shareholder returns to meet the expectations of our shareholders and investors. ⚫ What is the Minkabu Awar
Slide 46: Stock Chart
Stock Chart (Yen) 2,500 March 2025 ROE (Return on equity) 19.6% September 2025 PBR (Price book-value ratio) 2.9 times 2,000 September 2025 PER (Price-earnings ratio) 13.8 times 1,500 1,000 500 0 June June June June June June June June June June June June June June June June June June June June June
Slide 48: Appendix (1) History (Non-consolidated Net Sales)
Appendix (1) History (Non-consolidated Net Sales) 1981 1989 2006 2014 2022 Established Established Tokyo Branch Made ILII Corporation a Merger with ILII Made General Software, Inc. consolidated subsidiary Corporation a consolidated subsidiary 1987 Established 2012 2023 Osaka Branch Established Sowel
Slide 49: Appendix (2) Consolidated Statements of Income
Appendix (2) Consolidated Statements of Income (Million yen) 1H FY3/26 Non-consolidated Consolidated Item Amount Percentage Amount Percentage Net sales 14,165 100.0% 14,194 100.0% Cost of sales 10,971 77.4% 11,007 77.5% Gross profit 3,193 22.5% 3,187 22.4% Selling, general and 1,682 11.8% 1,667 11.7
Slide 50: Appendix (3) Consolidated Balance Sheets
Appendix (3) Consolidated Balance Sheets (Million yen) 1H FY3/26 Amount Amount Amount Amount Item (Non- Account item (Non- (Consolidated) (Consolidated) consolidated) consolidated) Accounts payable- Cash and deposits 6,929 7,020 1,148 1,148 trade Accounts receivable- Short-term interest- trade and c
Slide 51: Appendix (4) Consolidated Cash Flows
Appendix (4) Consolidated Cash Flows (Million yen) 600 ◼ Comparison with 1H FY3/25 415 400 Cash flows from operating activities 287 Net cash provided by operating 200 activities increased by 128 million yen year on year, due to 0 an increase in profit before income taxes. -200 -244 Cash flows from i
Slide 52: Appendix (5) Medium-Term (3-year) Management Plan (Consolidated)
Appendix (5) Medium-Term (3-year) Management Plan (Consolidated) (Million yen) Item FY3/26 (plan) FY3/27 (forecast) FY3/28 (forecast) Net sales 29,314 32,832 36,776 Operating profit 3,445 3,896 4,400 Ordinary profit 3,504 3,952 4,455 Profit 2,535 2,731 3,080 Operation category FY3/26 (plan) FY3/27 (
Slide 53: An IT Partner that is Close to Your Business
An IT Partner that is Close to Your Business Note pertaining to this data: IR information E-mail distribution service • The purpose of these materials is to provide information about the Group’s financial https://rims.tr.mufg.jp/?sn=3771 results and business strategies. They are not intended to soli

System Research — 1H FY3/26 Earnings Presentation on 6ix

System Research — 1H FY3/26 Earnings Presentation

Slide 1: First Half of Fiscal Year Ending March 2026 Results Briefing

Slide 2: Contents

Slide 3: 01. Company Profile

Slide 4: Company Profile

Slide 5: Branches and Sales Locations

Slide 6: Business Activities of Subsidiaries

Slide 7: An IT Partner that is Close to Your Business

Slide 8: Major Customers

Slide 9: 02. First Half FY3/26 Results

Slide 10: Summary of First Half of FY3/26 Results (Consolidated)

Slide 11: First Half of FY3/26 Sales by Category

Slide 12: FY3/26 Results Forecast (Consolidated)

Slide 13: Net Sales (First Half/Full Year) (Consolidated)

Slide 14: Operating Profit (First Half/Full Year) (Consolidated)

Slide 15: Recruitment (Non-consolidated)

Slide 16: 03. Medium-Term Management Plan

Slide 17: Medium-Term (3-year) Management Plan

Slide 18: Medium-Term (3-year) Management Plan

Slide 19: Medium- and Long-term Targets

Slide 20: Five Initiatives

Slide 21: Next Vision 50th

Slide 22: Next Vision 50th

Slide 23: Next Vision 50th

Slide 24: Next Vision 50th

Slide 25: Next Vision 50th

Slide 26: Outlook and Future Issues of the Industry

Slide 27: 04. Sustainability

Slide 28: Sustainability Initiatives

Slide 29: Results of Initiatives in Numbers (as of March 31, 2025)

Slide 30: Recognition and Certification (External Evaluation)

Slide 31: 05. Solutions

Slide 32: SI Service and Software Development

Slide 33: Main Development Achievements in the SI Services (1)

Slide 34: Main Development Achievements in the SI Services (2)

Slide 35: Main Development Achievements in the SI Services (3)

Slide 36: Main Development Achievements in the SI Services (4)

Slide 37: E-commerce Support

Slide 38: ilii Products (Business Package for Small and Medium Enterprises)

Slide 39: AI Solution (1): AI assistant PathBee

Slide 40: AI Solution (2)

Slide 41: AI Solution (3)

Slide 42: Other Solutions

Slide 43: 06. Shareholder Return

Slide 44: Shareholder Return

Slide 45: 2024 MINKABU Award Won

Slide 46: Stock Chart

Slide 47: 07. References

Slide 48: Appendix (1) History (Non-consolidated Net Sales)

Slide 49: Appendix (2) Consolidated Statements of Income

Slide 50: Appendix (3) Consolidated Balance Sheets

Slide 51: Appendix (4) Consolidated Cash Flows

Slide 52: Appendix (5) Medium-Term (3-year) Management Plan (Consolidated)

Slide 53: An IT Partner that is Close to Your Business