Cybertrust Japan Co.ltd. · TSE:4498

Cybertrust Japan Co.ltd — Q2 FY2025 Earnings Presentation

59 slides from Cybertrust Japan Co.ltd's earnings presentation, Oct 28, 2025

1. Slide 1: FY2025 Q2 Financial Results

   Note: This document has been translated from the Japanese original for reference purposes only. In the event of any discrepancy between this translated document and the Japanese original, the original shall prevail. Ⓡ FY2025 Q2 Financial Results Second Quarter of the Fiscal Year Ending March 31, 202

2. Slide 2: Executive Summary

   ▌ Executive Summary Double-digit growth and record-high net sales and operating FY2025 Q2 income for the second quarter Financial Results - Recurring services performed well due to the expansion of high-growth driver service FY2025 Full-Year Progressing steadily toward the achievement of the full-ye

3. Slide 3: Agenda

   ◼ FY2025 Q2 Financial Summary Agenda ◼ Overview by Service Segment  Trust Services  Platform Services ◼ Management Topic ◼ FY2025 Full-Year Forecast ◼ Appendix 3 Copyright Cybertrust Japan Co., Ltd. All rights reserved.

4. Slide 4: FY2025 Q2 Financial Summary

   ◼ FY2025 Q2 Financial Summary ◼ Overview by Service Segment  Trust Services  Platform Services ◼ Management Topic ◼ FY2025 Full-Year Forecast ◼ Appendix 4 Copyright Cybertrust Japan Co., Ltd. All rights reserved.

5. Slide 5: Record-high net sales and operating income for the second quarter

   FY2025 Q2 Consolidated Results (six-month total) Record-high net sales and operating income for the second quarter Net sales rose 17.6% YoY to 3,916 million yen Operating income increased 28.9% YoY to 699 million yen FY24 Q2 FY25 Q2 YoY Change (Unit: Millions of yen) (Six-month total) (Six-month tot

6. Slide 6: Trend in Quarterly Sales by Transaction Type

   ▌ Trend in Quarterly Sales by Transaction Type Growth driven by Q2 recurring services saw growth in net sales year on year high growth-driver services (Unit: Millions of yen) Professional services 2,133 Licenses 1,977 2,012 1,903 Recurring services 1,842 1,837 1,729 654 1,661 1,643 543 526 416 1,536

7. Slide 7: Sales by Service Segment

   ▌ Sales by Service Segment  Trust Services: Revenue increased due to growth in recurring services centered on high-growth driver service iTrust, as well as large-scale contract development projects  Platform: Revenue increased due to CentOS7 extended support updates progressing as expected, as wel

8. Slide 8: Overview by Service Segment

   ◼ FY2025 Q2 Financial Summary ◼ Overview by Service Segment  Trust Services  Platform Services ◼ Management Topic ◼ FY2025 Full-Year Forecast ◼ Appendix 8 Copyright Cybertrust Japan Co., Ltd. All rights reserved.

9. Slide 9: Trust Services | Performance and Initiatives by Service Segment

   ▌ Trust Services | Performance and Initiatives by Service Segment Recurring services grew led by high-growth-driver service iTrust (Unit: Millions of yen) FY24 Q2 FY25 Q2 Recurring services Trust Services net sales (by transaction type) (Six-month (Six-month YoY Change ◼ High-growth-driver service i

10. Slide 10: Quarterly Trend in KPI of High-Growth-Driver Service iTrust

    ▌ Quarterly Trend in KPI of High-Growth-Driver Service iTrust (Number of Paid API Use) Number of transactions: FY2025 Q2 number of uses: 12.77million YoY change: 46% increase (Quarterly) 38,704,300 Over 100 million cumulative transactions Trust service boasting outstanding performance 28,538,069 16,

11. Slide 11: Initiatives to Expand Use of iTrust

    ▌ Initiatives to Expand Use of iTrust Ministry of Justice adoption case Adoption case at MUFG Bank through Hitachi, Ltd. Received the contract for the design, development, and operation Expanded the functions of the eKYC Support Service developed of the Ministry of Justice’s remote signature system

12. Slide 12: Overview by Service Segment

    ◼ FY2025 Q2 Financial Summary ◼ Overview by Service Segment  Trust Services  Platform Services ◼ Management Topic ◼ FY2025 Full-Year Forecast ◼ Appendix 12 Copyright Cybertrust Japan Co., Ltd. All rights reserved.

13. Slide 13: Platform Services | Performance and Initiatives by Service Segment

    ▌ Platform Services | Performance and Initiatives by Service Segment Recurring service growth centered on support for various Linux operating systems (Unit: Millions of yen) Recurring services Platform Services net FY24 Q2 FY25 Q2 sales (Six-month (Six-month YoY Change ◼ With the service starting in

14. Slide 14: Initiatives to Expand the Scope of Use for Server Operating Systems

    ▌ Initiatives to Expand the Scope of Use for Server Operating Systems Adoption case in the enterprise market Adoption case in key infrastructure markets Began collaboration with NTT DATA Secured large-scale Linux OS support contract covering the entire This partnership enables the realization of sys

15. Slide 15: Management Topic

    ◼ FY2025 Q2 Financial Summary ◼ Overview by Service Segment  Trust Services  Platform Services ◼ Management Topic ◼ FY2025 Full-Year Forecast ◼ Appendix 15 Copyright Cybertrust Japan Co., Ltd. All rights reserved.

16. Slide 16: Use of the Cybertrust Trademark and Certification Authority Software

    Use of the “Cybertrust” Trademark and Certification Authority Software Acquisition of the Cybertrust trademark ➢ Obtained the trademark rights for “Cybertrust” in July 2025, which had previously been used under license from Verizon Australia Pty Limited (“Verizon”). ➢ International trademark applica

17. Slide 17: FY2025 Full-Year Forecast

    ◼ FY2025 Q1 Financial Summary ◼ Overview by Service Segment  Trust Services  Platform Services ◼ FY2025 Full-Year Forecast ◼ Appendix 17 Copyright Cybertrust Japan Co., Ltd. All rights reserved.

18. Slide 18: Basis for Continual Growth of Digital Trust Business

    ▌Basis for Continual Growth of Digital Trust Business Aim for stable profit growth by continuously providing foundational elements needed by a digital society in response to societal change Industry Business domain organization activities defined High R&D activities Contributions and feedback to glo

19. Slide 19: Digital Trust: Sales Expansion Phase for Growth Domain

    ▌Digital Trust: Sales Expansion Phase for Growth Domain Forecasting higher earnings in growth domains in conjunction with DX progress and trends in international security standards and regulations Growth driven by high growth-driver services iTrust Large Identity Verification EMLinux iTrust iTrust R

20. Slide 20: Investments for Greater Growth

    ▌Investments for Greater Growth Aggressive investments in human capital and infrastructure provision to support new growth Workstyle reforms Authenticationcenter Training and / backup center Strengthen reskilling + support structure Secondary New compensation authentication center (operations + syst

21. Slide 21: Analysis of Changes in Operating Income

    ▌Analysis of Changes in Operating Income Despite stepping up aggressive investments for growth, we managed to achieve double-digit operating income growth (Unit: Millions of yen) 675 △ 277 66 △ 50 △ 80 △ 40 △ 43 △ 109 △102 1,570 Result of active investments in human capital and services provision in

22. Slide 22: FY2025 Full-Year Forecast

    ▌FY2025 Full-Year Forecast Progressing steadily toward the achievement of the full-year forecast YoY Change FY24 FY25 Unit: Millions of yen Change Rate of Change Net sales 7,442 8,200 +747 +10.2% Operating income 1,421 1,570 +148 +10.5% Operating margin (%) 19.1 19.1 － － Ordinary income 1,448 1,570

23. Slide 23: FY2025 Dividend Forecast

    ▌FY2025 Dividend Forecast Cybertrust forecasts to continue paying a year-end dividend of 11.50 yen per share for the fiscal year ending March 31, 2026 Cybertrust’s basic dividend policy is to pay dividends from the surplus, once a year, as year-end dividend in Dividend a stable and continuous manner

24. Slide 24: Appendix

    ◼ FY2025 Q1 Financial Summary ◼ Overview by Service Segment  Trust Services  Platform Services ◼ FY2025 Full-Year Forecast ◼ Appendix 24 Copyright Cybertrust Japan Co., Ltd. All rights reserved.

25. Slide 25: Numeric data

    Numeric data 25 Copyright Cybertrust Japan Co., Ltd. All rights reserved.

26. Slide 26: FY2025 Full-Term Results Expected (sales by service)

    ▌FY2025 Full-Term Results Expected (sales by service) Trust Services Platform Services （Millions of yen） （Millions of yen） 4,555 3,645 4,139 +10.0％ 3,302 +10.4％ (YoY) (YoY) FY24 FY25 FY24 FY25 Recurring revenue growth due iTrust continues to grow and to increased support for recurring revenues incre

27. Slide 27: Quarterly trends in net sales and operating income

    ▌Quarterly trends in net sales and operating income (accounting period) Sales Operating Income （Million of Yen） （Million of Yen） 2,133 22.7% 22.7% 21.7% 21.2% 19.4% 1,977 2,013 16.3% 16.0% 1,903 21.5% 1,841 1,837 16.4% 16.0% 16.3% 1,729 1,643 12.2% 12.4% 9.7% 1,560 1,537 1,468 1,493 1,408 1,443 452

28. Slide 28: Sales by service Quarterly trends

    ▌Sales by service Quarterly trends (Accounting period) Trust Services Platform Services （Million of Yen） （Million of Yen） 1,192 1,124 1,101 1,082 1,075 996 975 959 943 941 921 875 885 894 895 888 850 842 828 739 753 685 647 626 558 558 577 571 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q1 Q2 Q3 Q4 Q1

29. Slide 29: Quarterly sales trends by service and transaction type

    ▌Quarterly sales trends by service and transaction type (accounting period) Trust Services Platform Services （Million of Yen） （Million of Yen） Professional Services License Recurring Services 1,192 1,124 1,101 1,082 1,075 996 290 975 959 151 207 225 943 203 941 921 875 885 894 895 888 850 842 157 16

30. Slide 30: Consolidated PL (Detailed Sales by Service)

    ▌Consolidated PL (Detailed Sales by Service) (Millions of yen) Consolidated FY23 FY24 Change The sales 6,466 7,442 975 Trust services 3,943 4,139 +196 License 158 125 △33 Professional services 598 686 +88 Recurring service 3,186 3,328 +141 Platform Services 2,523 3,302 ＋779 License 405 514 +109 Prof

31. Slide 31: Cost structure

    ▌cost-structure Implementation of human and capital investment necessary for the continuous growth of recurring services Changes in Expenses (Consolidated) Sales (Millions of yen) Capital investment policy 3,913 Actively investing in capacity expansion for the provision of digital Sales authenticati

32. Slide 32: Trends in sales, gross profit, and SG&A expenses

    ▌Trends in sales, gross profit, and selling, general and administrative expenses Maintained a selling, general and administrative expense ratio of approximately 30%, with steady growth in net sales and gross profit Gross Profit SG&A Sales 2,133 （Million of yen） 1,977 2,012 1,903 2,000 1,500 1,841 1,

33. Slide 33: Recurring Business Model

    ▌Recurring Business Model Expanding recurring services Aiming for a stable, high-growth business model Revenue increases in proportion to the growth Revenue model based on in DX-related processing volumes. the number of devices and servers Our new revenue model. Server Certificate Number of sites iT

34. Slide 34: Composition ratio of major products to recurring service sales

    ▌ Composition ratio of major products to recurring service sales of Authentication and Security service Steady growth of iTrust as a revenue pillar after device ID and Server Certificates - recurring service sales of Authentication and Security service - Quarterly trends (accounting period) (Million

35. Slide 35: Consolidated BS

    ▌consolidated BS (Millions of yen) End of March 2024 End of March 2025 Change Rate of change Current assets 6,181 7,096 914 +14.8％ (Cash and deposits) 4,891 5,560 669 +13.7％ (Notes, accounts receivable and contract assets) 1,068 1,117 48 +4.5％ Fixed assets 2,235 2,481 245 ＋11.0％ (Software) 592 924 3

36. Slide 36: Major Consolidated Management Indicators

    ▌Major Consolidated Management Indicators The sales Net assets per share(BPS) Return on equity (ROE) (Millions of yen) 7,442 (yen) 408.4 (％) 6,466 371.9 15.4 6,167 13.8 349.6 8.9 FY22 FY23 FY24 FY22 FY23 FY24 FY22 FY23 FY24 Operating income and operating income margin Net income per share (EPS) Retu

37. Slide 37: Corporate Profile

    Corporate Profile 37 Copyright Cybertrust Japan Co., Ltd. All rights reserved.

38. Slide 38: Corporate Philosophy and Mission

    ▌Corporate Philosophy and Mission Security and Trust We will realize a Safe and Secure Digital Society As a socially responsible company, We recognize that “responding to the Sustainable Development Goals (SDGs)” is a key management issue. Through our business and corporate activities, we work to re

39. Slide 39: About Us

    ▌About Us Company Name Cybertrust Japan Co., Ltd ◼ Trust Services Business Activities ◼ Platform Services Sever solution, IoT embedded solution Date of Establishment June 1, 2000 Address ARK Mori Bldg 31F, 1-12-32 Akasaka, Minato-ku, Tokyo 107-6031 <Consolidated subsidiaries> Yasutoshi Magara, Chair

40. Slide 40: History

    ▌History On October 1, 2017, we (former MIRACLE LINUX Corporation) as the surviving company completed an absorption-type merger with former Cybertrust Japan co., Ltd. and name change of and commenced operations as Cybertrust Japan co., Ltd. Year and month Summary MIRACLE LINUX CORPORATION is establi

41. Slide 41: History

    ▌History The history of the former Cybertrust Japan co., Ltd. since its establishment until its mergered is as follows Year and month Summary Sep. 1995 NSJ Corporation established to develop software May, 1999 Contracted as the sole Japanese distributor of Baltimore Technologies Plc ("Baltimore") Ma

42. Slide 42: SDGs Initiatives

    SDGs Initiatives Contributing to the Realization of a Sustainable Society Along with Business Growth Social Issues Addressed through Business Activities Social Issues Addressed through Corporate Activities By promoting trust services to support DX Achieving corporate growth by creating resilient org

43. Slide 43: Policies and Indicators and Targets

    Policies and indicatorsators and Targets We have established KPI (evaluation indicators) for the following two of the four materiality items in the strategic plan. Materiality KPI (Valuation Indicators) Percentage of female employees in managerial positions: Achieved at least 8.2% (at least average

44. Slide 44: Business Overview

    Business Overview 44 Copyright Cybertrust Japan Co., Ltd. All rights reserved.

45. Slide 45: Issues Solved by Cybertrust and Value Provided

    ▌Issues Solved by Cybertrust and Value Provided Identity theft Personal identification (people, things) Reliability for all people, things, services Safe and secure digital economy Existence Issues for digitalization Falsification Confidentiality Worldwide rise of digitalization Digital Trust Unauth

46. Slide 46: Business domain

    ▌Business domain Providing Trust Services to Realize a Safe and Secure Digital Society Trust Services Platform International Standards OS SSL/TLS server certificate to Support IT Infrastructures User authentication, device Embedded OS for International authentication Security Standards Identity veri

47. Slide 47: Trust Services Overview

    ▌Trust Services Overview Providing trust services for areas such as digital certificate, the ‘ID cards’ of the digital economy, as well as digital Identity verification and digital signature critical for DX Authenticating devices Device certificate permitted for operations use Authentication of Unau

48. Slide 48: Overview of Platform Services

    ▌Overview of Platform Services Provide value-added OS and middleware for critical infrastructure compatible with international security standards Application Vulnerability management / Integrated Middleware monitoring International standards server OS OS/Embedded OS for IoT Cybertrust Japan is the o

49. Slide 49: Cybertrust Japan services are used throughout Japan's social infrastructure

    ▌Cybertrust Japan services are used throughout Japan’s social infrastructure Finance Government Railways/Airlines Communications Manufacturing 49 Copyright Cybertrust Japan Co., Ltd. All rights reserved.

50. Slide 50: Partner Business Case Study

    ▌Partner Business Case Study A broad partner network tailored to the unique characteristics of each product or service VAR (Value Added Reseller) Partner Business (VAR) Case Study 160 companies Instead of providing the application itself, Cybertrust provides Business development through critical par

51. Slide 51: Glossary ①

    ▌Glossary ① Term Description Digitized identity certificates that properly certify and identify targets. These certificates verify the authenticity digital certificate of people, goods, etc. by examining and issuing them by a certification authority as a reliable third-party organization. Preventing

52. Slide 52: Glossary ②

    ▌Glossary ② Term Description A digital certificate that installs a certificate on the user’s device (such as a PC or smartphone) to authenticate Client certificate the user as the authorized user. There are two main types: User certificates and device certificates. Issued to information devices such

53. Slide 53: Glossary ③

    ▌Glossary ③ Term Description RHEL Abbreviation for Red Hat Enterprise Linux. A Linux distribution developed and sold by Red Hat for business use. CentOS Community-based free LinuxOS that is highly compatible with RHEL A nonprofit organization of users, developers and fans created mainly to develop,

54. Slide 54: Glossary ④: Security-Standard FIPS 140-3

    ▌Glossary ④: Security-Standard "FIPS 140-3" Summary Standard for cryptographic modules established by the National Institute of Standards and Technology (NIST:National What is FIPS 140-3? Institute of Standards and Technology) that was certified in March 2019. Functions as a standard for realizing s

55. Slide 55: Product name comparison table

    ▌Product name comparison table Function Official product name Abbreviations in this document [Trust Services] SSL/TLS server certificate iTrustⓇSSL/TLS server certificate Server Certificate device authentication Cybertrust Device ID Device ID Certification bureau outsourcing services Cybertrust Mana

56. Slide 56: Product and Service Introduction Pages

    ▌Product and Service Introduction Pages Product and service introduction page URL CyberTrust Japan Co., Ltd. Web website https://www.cybertrust.co.jp/(Link) [Trust Services] iTrust SSL/TLS Server Certificate https://www.cybertrust.co.jp/ssl/ Cybertrust Device ID Service https://www.cybertrust.co.jp/

57. Slide 57: Press Release List (FY25 H1)

    ▌Press Release List (FY25 H1) 05.27 06.02 07.31 09.03 Cybertrust Japan's e-Seal Supporting the prevention of NTT Data and Cybertrust Japan Cybertrust Japan awarded the certificates help prevent fraudulent mobile phone commence collaboration to contract by the Ministry of counterfeiting and the contr

58. Slide 58: Disclaimer

    ▌Disclaimer ◼ The materials and information provided in this presentation contain ‘forward-looking statements’. ◼ They are based on current expectations, forecasts and risk-bearing assumptions, and involve uncertainties that could lead to results that differ materially from these statements. ◼ These

59. Slide 59: Security and Trust

    Security and Trust Copyright Cybertrust Japan Co., Ltd. All rights reserved. 59 Copyright Cybertrust Japan Co., Ltd. All rights reserved.

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