Global Security Experts Inc. · TSE:4417
Global Security Experts — FY2026 Earnings Presentation
61 slides from Global Security Experts's earnings presentation, April 2026
Slide 1: Financial Results Presentation for the Fiscal Year Ended March 31, 2026
Financial Results Presentation for the F i s c a l Ye a r E n d e d M a r c h 3 1 , 2 0 2 6 Global Security Experts, Inc., Securities Code: 4417 April 2026
Slide 2: Agenda
Ag e n d a 1 FYE3/2026 Full Year Summary Page 3 2 Growth Strategy in an Age of Rising AI Page 4 3 FYE3/2026 Financial Results Overview Page 11 4 FYE3/2027 Consolidated Performance Forecast Page 20 5 Shareholder Return Page 23 6 Medium-Term Business Plan and Growth Strategy Page 26 7 ESG Initiatives
Slide 3: Full Year Summary
F u l l Ye a r S u m m a r y Business performance also grew steadily for FYE3/2026 Consolidated Consolidated net sales Operating income operating income YoY margin YoY YoY +25.2% +38.6% +2.0 percentage points 11,022.08 2,238.05 20.3% million yen million yen Record high values for both net sales and
Slide 4: Growth Strategy in an Age of Rising AI
Growth Strategy in an Age of Rising AI
Slide 5: Structural Reasons Why the Rise of AI Is Increasing Security Needs
S t r u c t u r a l R e a s o n s W h y t h e R i s e o f AI I s I n c r e a s i n g S e c u r i t y N e e d s a n d H o w Th i s I m p a c t s G S X ' s B u s i n e s s As the evolution of AI further tilts the balance in favor of cyberattackers, simply introducing AI tools is not enough to defend a
Slide 6: GSX's Vision for Strategy in the AI Era
G S X ' s Vi s i o n f o r S t r a t e g y i n t h e AI E r a In GSX's customer market, disparities are expected to emerge between companies in how they respond to the rapid evolution of AI GSX is evolving by adapting the strengths of its existing businesses to the AI era GSX provides AI-era securit
Slide 7: Providing Services Adapted to the AI Era
P r o vi d i n g S e r vi c e s Ad a p t e d t o t h e AI E r a Advancing initiatives in each business that start with internal streamlining and extend to the creation of AI-powered services, entry into new AI businesses, and more Using AI for streamlining and Developing the market for secure AI bec
Slide 8: Providing Services Adapted to the AI Era
P r o vi d i n g S e r vi c e s Ad a p t e d t o t h e AI E r a Advancing initiatives in each business that start with internal streamlining and extend to the creation of AI-powered services, entry into new AI businesses, and more Using AI for streamlining and Developing the market for secure AI bec
Slide 9: Progress on Main AI Projects (Cybersecurity Business)
P r o g r e s s o n M a i n AI P r o j e c t s ( C yb e r s e c u r i t y B u s i n e s s ) Cybersecurity Business Launching new service "Security Document Assessment" that combines AI and consulting Collaborating with Segue Security Co., Ltd., to integrate the Company's consulting expertise with Ri
Slide 10: Progress on Main AI Projects (Security Training and Security Personnel Businesses)
P r o g r e s s o n M a i n AI P r o j e c t s ( S e c u r i t y Tr a i n i n g a n d S e c u r i t y P e r s o n n e l Businesses) Security Training Business Release of multiple new AI-related training courses AI AI security engineers: Training course for learning technologies that enable participa
Slide 11: FYE3/2026 Financial Results Overview
FYE3/2026 Financial Results Overview
Slide 12: Full-Year Performance Trends
F u l l - Ye a r P e r f o r m a n c e Tr e n d s The top line expanded in a stable manner and there was rapid growth of profit that exceeded this Achieved management with a highly profitable structure Net sales trend (Millions of yen) Operating income trend (Millions of yen) Operating income margin
Slide 13: Number of Customers & ARPU Trends
N u m b e r o f C u s t o m e r s & AR P U Tr e n d s Both the number of new customers and the number of existing customers increased steadily In the fiscal year ended March 31, 2026, ARPU increased significantly due to the effects of up-selling and cross- selling, as well as the acquisition of proj
Slide 14: Consolidated Net Sales & Gross Profit Composition
Consolidated Net Sales & Gross Profit Composition The composition ratio for FYE3/2026 is as planned These figures consist of the security training business and security personnel business that are growing rapidly, based on stable profit from the cybersecurity business Net sales composition ratio Gro
Slide 15: Net Sales & Gross Profit by Business YoY
N e t S a l e s & G r o s s P r o f i t b y B u s i n e s s Yo Y ( F u l l - Ye a r C u m u l a t i ve ) Both net sales and gross profit increased The security training business and security personnel business are making great progress Net sales (Millions of yen) Gross profit (Millions of yen) Cyber
Slide 16: Impact on Ordinary Income and Net Income
Impact on Ordinary Income and Net Income Shift to consolidated accounting from FYE3/2025: Reflects profit and loss for the equity-method affiliates BroadBand Security, Inc. and Secure Innovation Inc. Growth rate of profit against previous year (Millions of yen) ■FYE3/2025 ■FYE3/2026 +38.6% +42.2% +4
Slide 17: Consolidated Profit and Loss
C o n s o l i d a t e d P r o f i t a n d L o s s ( C u m u l a t i ve ) FYE3/2025 FYE3/2026 YoY YoY (Millions of yen) Results Results Change Change (%) Net sales 8,801 11,022 +2,220 +25.2% Gross profit 3,066 3,995 +928 +30.3% +1.4 percentage Gross profit margin 34.8% 36.2% points - Selling, general
Slide 18: Operating Income Change Analysis
O p e r a t i n g I n c o m e C h a n g e An a l y s i s ( C u m u l a t i ve ) Operating profit increased +623 million yen year on year due to growth that exceeded proactive investment in human capital Investments in human capital (Millions of yen) 210 million yen • Increase in personnel expenses d
Slide 19: Consolidated Balance Sheet
Consolidated Balance Sheet YoY YoY (Millions of yen) FYE3/2025 FYE3/2026 Change Change (%) Current assets 4,799 6,344 +1,545 +32.2% Cash and deposits 1,385 1,644 +258 +18.7% Accounts receivable - trade, and 2,149 2,749 +599 +27.9% contract assets Other 1,264 1,950 +686 +54.3% Non-current assets 3,34
Slide 20: FYE3/2027 Consolidated Performance Forecast
FYE3/2027 Consolidated Performance Forecast
Slide 21: FYE3/2027 Basic Policy and Consolidated Performance Forecast
FYE3/2027 Basic Policy and Consolidated Performance Forecast Continue to expand net sales and strengthen the management Basic Policy base to support medium- to long-term growth by placing importance on improving profit margins Aim for consolidated net sales of +25% YoY and an operating income margin
Slide 22: FYE3/2027 Forecast of Consolidated Net Sales Composition
FYE3/2027 Forecast of Consolidated Net Sales Composition The cybersecurity business is experiencing stable growth while the security training business and security personnel business are making progress All businesses are expected to increase their revenue compared to the previous year Security Trai
Slide 23: Shareholder Return
GSX GLOBAL SECURITY EXPERTS Shareholder Return
Slide 24: Information About Dividends
I n f o r m a t i o n Ab o u t D i vi d e n d s In the fiscal year ended March 31, 2026, the year-end dividend amount was increased to 1.87 yen more than previously forecast The dividend payout ratio for the fiscal year ending March 31, 2027 will be 37.0%, up 2.0 points year on year 49.11 In the eve
Slide 25: Shareholder Benefit Program
Shareholder Benefit Program GSX has implemented shareholder benefits twice a year to thank shareholders for their ongoing support and to increase the attractiveness of holding the Company’s shares. Twice per year Date of record March 31 and September 30 of each year Any one of these items ◼ QUO Card
Slide 26: Medium-Term Business Plan and Growth Strategy
Medium-Term Business Plan and Growth Strategy
Slide 27: GSX Group's Growth Strategy
GSX Group's Growth Strategy Aggressively promote our growth strategy for an age of rising AI and, at the same time, our strategy for growth through nationwide expansion Strategy for growth through AI Group's growth strategy nationwide expansion Using AI for streamlining and becoming more competitive
Slide 28: Medium-Term Quantitative Targets
M e d i u m - Te r m Q u a n t i t a t i v e Ta r g e t s Update based on FYE3/2026 results 25% annual net sales growth in existing businesses; aim to increase operating income margin by 1.0 percentage point annually Net sales (Millions of yen) Operating income and operating income margin (Millions
Slide 29: Business Domains
Business Domains From FYE3/2025, we have clearly established three target segments—semi-large and medium-sized companies and SMEs, IT companies and system integrators, and companies requiring security personnel—organizing these as business domains Semi-large and Target IT companies and Companies req
Slide 30: Business Lines: Cybersecurity Business
B u s i n e s s L i n e s : Cybersecurity Business One-stop cybersecurity support for semi-large and medium-sized companies and SMEs Targeted Email Training Services Consulting Services (Management Consulting) Visualizing Building Planning issues systems No. 1 Over Main services share 11,000 Informa
Slide 31: Accelerating Security Needs of Semi-Large and Medium-Sized Companies and SMEs
Ac c e l e r a t i n g S e c u r i t y N e e d s o f S e m i - L a r g e a n d M e d i u m - S i z e d C o m p a n i e s , and SMEs Frequent Security Incidents Social Pressure Acceleration of AI Organizations that have experienced Pressure for security measures from Combining AI with security measur
Slide 32: Business Lines: Security Training Business
Business Lines: Security Training Business Providing training in the security and AI domains for IT companies and system integrators to help them add value to their IT personnel • Improving security standards for engineers • Increasing the number of advanced security Security and personnel IT compan
Slide 33: Accelerating Security Training Needs of IT Companies and System Integrators
Ac c e l e r a t i n g S e c u r i t y Tr a i n i n g N e e d s o f I T C o m p a n i e s a n d S ys t e m I n t e g r a t o r s GSX Training Course Enrollment (Single Year) Security becomes one quality of IT 12,939 Infrastructure 11,294 System Cloud building and development services operation Addin
Slide 34: Business Lines: Security Personnel Business
Business Lines: Security Personnel Business Meet the security and AI personnel needs of all companies, regardless of size As a security training company GSX, establish an original business model that provides benefits to both IT companies that have IT personnel and customers that need security and A
Slide 35: Accelerating Needs for Security Personnel SES
Ac c e l e r a t i n g N e e d s f o r S e c u r i t y P e r s o n n e l S E S Shortage of Cybersecurity Personnel in Japan Although the number of security personnel required is increasing, growth in the number of security personnel is Sales slowing. The shortfall in such personnel has increased to
Slide 36: GSX Growth Far Outpaces Security Market Growth
GSX Growth Far Outpaces Security Market Growth Net sales growth rate (CAGR) of 36%, well above the market growth rate of 6.4% FY2025 (forecast) Reasons for GSX’s High Growth and Future Prospects Network 772.7 billion yen Dramatic increase in security needs among semi- security FY2018 business Reason
Slide 37: Capital and Business Alliances With 25% Annual Sales Growth
C a p i t a l a n d B u s i n e s s Al l i a n c e s W i t h 2 5 % An n u a l S a l e s G r o w t h a n d Confidence in Further Growth Alliance strategy to achieve 25% annual sales growth and ensure further growth as stated in the medium-term business plan Capital and business alliances with strateg
Slide 38: Business Strategies
Business Strategies Basic strategy as the foundation for 25% annual sales growth and alliance strategy and fund formation to ensure further growth Alliance Strategy Fund Formation LP Nippon Cyber Expanding Growth Security Fund 1 sales Expansion acceleration Security Funding Investment Limited channe
Slide 39: ESG Initiatives
GSX GLOBAL SECURITY EXPERTS ESG Initiatives
Slide 40: ESG Initiatives
E S G I n i t i a t i ve s We will proactively address ESG and the SDGs with the aim of both realizing a sustainable society and increasing corporate value. In our Internet society, cybersecurity threats are one of the most important social issues that threaten people’s lives and livelihoods. There
Slide 41: Appendix
GSX GLOBAL SECURITY EXPERTS Appendix
Slide 42: About Global Security Experts
Ab o u t G l o b a l S e c u r i t y E x p e r t s A cybersecurity training company that operates throughout the security industry, aiming to improve the self-defense capabilities of companies throughout Japan —Purpose— To protect all companies from security threats To unwaveringly tell companies wh
Slide 43: Corporate Profile
Corporate Profile A cybersecurity specialist company, established at the dawn of cybersecurity Engaged in three businesses: Cybersecurity Business, Security Training Business, and Security Personnel Business *CyberSTAR Inc., a wholly owned subsidiary, was established on April 1, 2024 by spinning off
Slide 44: Management Members
Management Members President and CEO Vice President and COO Shiro Aoyagi Shinichi Hara Apr. 1998: Joined Beacon Information Technology Inc. (currently UNIRITA Inc.) Joined AMADA METRECS CO., LTD. Apr. 1991: Jan. 2009: Director and General Manager of Security (currently AMADA CO., LTD.) Business Divi
Slide 45: History: A Cybersecurity Specialist Company Since the Dawn of the Market
H i s t o r y: A C yb e r s e c u r i t y S p e c i a l i s t C o m p a n y t h a t H a s E x i s t e d S i n c e t h e D a w n o f C yb e r s e c u r i t y M a r k e t Our founding business is a vulnerability diagnostic service within the Consulting Business. We began providing services at the dawn
Slide 46: Our Origins
Our Origins Predecessor company Hospital Brain Showa Inc. established as a consolidated subsidiary of Business Brain Showa- Ota Inc. In 2000, TIGER TEAM SERVICE was transferred to Hospital Brain Showa Inc. from a Group company, and the Company was reborn as one specializing in cybersecurity, changin
Slide 47: Uniquely Positioned, Primarily Targeting Semi-Large and Medium-Sized Companies and SMEs
U n i q u e l y P o s i t i o n e d , P r i m a r i l y Ta r g e t i n g S e m i - L a r g e a n d M e d i u m - S i z e d Companies and SMEs A large disparity exists between the security needs of large enterprises and other types of companies. For this reason, other security specialists have contin
Slide 48: Differences in Security Needs and Service Optimization
D i f f e r e n c e s i n S e c u r i t y N e e d s a n d S e r vi c e O p t i m i z a t i o n Large enterprises seek security measures to completely eliminate threats, while semi-large and medium-sized companies and SMEs seek the minimum necessary security measures to eliminate reputational risk to
Slide 49: Barriers to Entry in the Security Market for Semi-Large and Medium-Sized Companies
Barriers to Entry in the Security Market for Semi -Large and Medium-Sized Companies and SMEs Structural challenges exist for competitors attempting to enter the market for semi-large and medium-sized companies and SMEs. The market environment is not conducive to earning short-term revenue, and in or
Slide 50: Lineup That Can Provide Appropriate Services Tailored to the Customer's Situation
L i n e u p t h a t C a n P r o vi d e Ap p r o p r i a t e S e r vi c e s Ta i l o r e d t o t h e C u s t o m e r ’s Situation A structure that facilitates long-term transactions by providing optimal services tailored to the situation Large number of Incident* countermeasures Normalcy incidents* (
Slide 51: GSX's Sales and Capacity Strategies (Business Expansion Model)
G S X ’s S a l e s a n d C a p a c i t y S t r a t e g i e s ( B u s i n e s s E x p a n s i o n M o d e l ) Increasing the number of customers and ARPU by implementing different approaches to new and existing customers Carrying out capacity strategy by cultivating security personnel in IT companies
Slide 52: Sales Strategy — Existing Customers: Up-Sell/Cross-Sell
Sales Strategy — Existing Customers: Up-Sell/Cross-Sell Cross-selling and up-selling through multi-faceted service offerings. ARPU* of existing customers is higher than that of new customers, and we have achieved efficient business expansion through ongoing transactions. Cross-Selling/Up-Selling Ena
Slide 53: Sales Strategy: Become a Sales Partner for IT Companies Throughout Japan
S a l e s S t r a t e g y: B e c o m e a S a l e s P a r t n e r f o r I T C o m p a n i e s Th r o u g h o u t J a p a n Leveraging the customer base and presence of IT firms to open up markets that had previously been untapped opportunities By partnering with GSX, IT companies can expand their sec
Slide 54: Capacity Strategy: Developing Delivery Partner Companies
C a p a c i t y S t r a t e g y: D e ve l o p i n g D e l i ve r y P a r t n e r C o m p a n i e s Expanding order capacity by leveraging highly specialized training content to cultivate security personnel in IT companies, partnering with and fostering industry peers, and developing a large number o
Slide 55: Sales Strategy — New Customers: Strengthening Digital Marketing Strategy
Sales Strategy — New Customers: Strengthening Digital Marketing Strategy For new customer acquisition, implementing digital marketing measures that lead to orders and shifting to an efficient and effective digital marketing focus to acquire high quality leads Selecting media that specialize in secur
Slide 56: Why GSX is Preferred by Semi-Large and Medium-Sized Companies and SMEs
Why GSX is Preferred by Semi -Large and Medium-Sized Companies and SMEs Positioning Expanding net sales through cross-selling Wide-ranging and Capturing the High profits Semi-large and diverse issues needs of many customers + thanks to GSX-unique offerings medium-sized companies, SMEs and up-selling
Slide 57: Security Environment
S e c u r i t y E n vi r o n m e n t With the promotion of DX, including the use of IoT and cloud computing, and the increase in telecommuting, the number of connections with other entities has increased, internal and external threats in organizations have changed, and a variety of incidents have oc
Slide 58: Market Environment for the Domestic Cybersecurity Market
M a r k e t E n vi r o n m e n t f o r t h e D o m e s t i c C yb e r s e c u r i t y M a r k e t In the cybersecurity market, demand for countermeasures is on the rise. In addition, the rapid shift of companies to digital technologies is a tailwind for growth in this market. On the other hand, an u
Slide 59: Financial Highlights
Financial Highlights Fiscal Period FYE3/2022 FYE3/2023 FYE3/2024 FYE3/2025 FYE3/2026 Net sales (Thousands of yen) 4,391,317 5,558,022 7,002,941 8,801,647 11,022,080 Ordinary income (Thousands of yen) 414,331 737,512 1,104,319 1,562,981 2,222,786 Net income (Thousands of yen) 261,099 488,120 783,428
Slide 60: Precautions
Precautions This document contains forward-looking statements about Global Security Experts, Inc.’s financial results, business operations, and industry trends that are based on Global Security Experts, Inc.’s current plans, estimates, forecasts or projections. Various risks and uncertainties are in
Slide 61: GSX Global Security Experts
GSX GLOBAL SECURITY EXPERTS
Global Security Experts — FY2026 Earnings Presentation on 6ix