Global Security Experts Inc. · TSE:4417
Global Security Experts — Q1 FYE3/2026 Earnings Presentation
59 slides from Global Security Experts's earnings presentation, July 2025
Slide 1: Financial Results Presentation for the First Quarter of FYE March 2026
Financial Results Presentation for the First Q u a r t e r o f t h e F i s c a l Ye a r E n d i n g M a r c h 3 1 , 2 0 2 6 Global Security Experts, Inc., Securities Code: 4417 July 2025
Slide 2: Agenda
Ag e n d a 1 FYE3/2026 Q1 Performance Highlights P3 2 Cybersecurity Needs in Japan P7 3 FYE3/2026 Q1 Performance Overview by Business P12 4 FYE3/2026 Consolidated Performance Forecast P23 5 Shareholder Return P27 6 Medium-Term Business Plan and Growth Strategy P29 7 Management Topics P33 8 ESG Initi
Slide 3: FYE3/2026 Q1 Performance Highlights
FYE3/2026 Q1 Performance Highlights
Slide 4: FYE3/2026 Q1 Performance Highlights
FYE3/2026 Q1 Performance Highlights Net sales Operating income Quarterly net income FYE3/25 Q1 FYE3/25 Q1 FYE3/25 Q1 1,813 million yen 279 million yen 159 million yen 2,237 million yen 352 million yen 200 million yen YoY change + 23.4% YoY change + 26.4% YoY change + 25.1% 20.3% 16.0% 14.1% Progress
Slide 5: FYE3/2026 Q1 Performance Highlights
FYE3/2026 Q1 Performance Highlights Year on year increase in sales and profit Record highs for Q1 Progress as planned for full-year forecast Security services for semi-large and medium-sized companies and SMEs Security personnel training for IT companies and system integrators, provision of security
Slide 6: Net Sales and Operating Income Quarterly Trends
N e t S a l e s a n d O p e r a t i n g I n c o m e Q u a r t e r l y Tr e n d s Net sales growth by +23.4% and operating income by +26.4% year on year as planned Operating income and operating income margin Net sales (Millions of yen) (Millions of yen, %) 19.4% 19.6% 20.1% 17.8% 15.8% +23.4% 17.7%
Slide 7: Cybersecurity Needs in Japan
Cybersecurity Needs in Japan
Slide 8: Issues for Cybersecurity in Japan
I s s u e s f o r C yb e r s e c u r i t y i n J a p a n Advances in and increased sophistication of cyber threats Severe impact on not only companies but also government institutions Improving security level of society as a whole urgent business Competitiveness issues for the Geopolitical issues do
Slide 9: National and government cybersecurity policies
N a t i o n a l a n d g o ve r n m e n t c yb e r s e c u r i t y p o l i c i e s Government METI Cybersecurity Industry Promotion Strategy - Economic Security Promotion Act - Enacted Announced Law to ensure the security of the nation and the people Policy package to promote growth of the domestic i
Slide 10: Goal of Cybersecurity Policy
G o a l o f C yb e r s e c u r i t y P o l i c y Improve level of cybersecurity in Japan Train cybersecurity personnel and increase number of cybersecurity companies Increase net sales of Japanese companies in the cybersecurity industry from the current approximate value of 0.9 trillion yen to appro
Slide 11: Issues and Needs Regarding Cybersecurity for Private Enterprise
I s s u e s a n d N e e d s R e g a r d i n g C yb e r s e c u r i t y f o r P r i va t e E n t e r p r i s e Semi-large and medium- IT companies and Companies requiring sized companies, SMEs system integrators security personnel • Frequent occurrence of • Security becomes one • Shortage of cybersec
Slide 12: FYE3/2026 Q1 Performance Overview by Business
FYE3/2026 Q1 Performance Overview by Business
Slide 13: 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 Target Semi-large and IT companies and Companies req
Slide 14: Business Lines: Cybersecurity Business
Business Lines: 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 Information security Manag
Slide 15: Business Lines: Security Training Business
Business Lines: Security Training Business Providing training in the security domain 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 IT companies and system integrators Secu
Slide 16: Business Lines: Security Personnel Business
Business Lines: Security Personnel Business Meet the security 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 personnel IT
Slide 17: Quarterly Net Sales by Business
Quarterly Net Sales by Business Cybersecurity Business Security Training Business Security Personnel Business YoY change (Millions of yen) 1,708 1,612 1,525 +15.4% 1,538 UP 1,402 1,339 1,321 1,258 ¥ 1,122 335 243 +33.0% 262 215 UP 226 182 202 148 127 470 482 484 +44.1% 334 341 336 412 296 UP 204 Q1
Slide 18: Quarterly Gross Profit by Business
Quarterly Gross Profit by Business Cybersecurity Business Security Training Business Security Personnel Business YoY change (Millions of yen) 565 564 588 +20.1% 500 UP 437 475 389 416 ¥ 344 182 133 +24.9% 90 94 UP 90 63 97 75 52 134 144 141 137 +62.7% 99 110 99 84 UP 47 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 FY
Slide 19: Operating Income Change Analysis (Year-on-Year)
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 ( Ye a r - o n - Ye a r ) Operating profit increased 73 million yen year-on-year due to growth that exceeded proactive investment in human capital Investments in human capital (Millions of yen) 67 million yen • Increase in personnel expenses d
Slide 20: Impact of Equity-method Affiliates on GSX Performance
I m p a c t o f E q u i t y - m e t h o d Af f i l i a t e s o n G S X P e r f o r m a n c e Shift to consolidated accounting from FYE3/2025: Reflects profit and loss for BroadBand Security, Inc. and Secure Innovation Inc. Growth rate of profit against previous year ■FYE3/2025 Q1 (Millions of yen) ■
Slide 21: Consolidated Profit and Loss (Cumulative)
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 (Millions of yen) YoY Change YoY Change (%) Q1 results Q1 results Net sales 1,813 2,237 +424 +23.4% Gross profit 585 748 +162 +27.8% Gross profit margin 32.3% 33.4% +1.1 pt - Selling, general, and administra
Slide 22: Consolidated Balance Sheet
Consolidated Balance Sheet Change from the Change from the (Millions of yen) FYE3/2025 FYE3/2026 Q1 previous year previous year (%) Current assets 4,799 4,599 -199 -4.2% Cash and deposits 1,385 1,470 +85 +6.2% Accounts receivable - trade, and 2,149 1,447 -702 -32.7% contract assets Other 1,264 1,681
Slide 23: FYE3/2026 Consolidated Performance Forecast
FYE3/2026 Consolidated Performance Forecast
Slide 24: FYE3/2026 Basic Policy and Consolidated Performance Forecast
FYE3/2026 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 25: Progress Toward Full-Year Forecast
P r o g r e s s To w a r d F u l l - Ye a r F o r e c a s t Progress as planned for both net sales and operating income Net sales (Millions of yen) Progress rate 20.3% FYE3/2026 2,237 Forecast 11,000 FYE3/2025 1,813 2,193 2,282 2,512 8,801 Q1 progress rate 20.6% FYE3/2024 1,452 1,757 1,822 1,970 7,0
Slide 26: FYE3/2026 Forecast of Consolidated Net Sales Composition
FYE3/2026 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 27: Shareholder Return
GSX GLOBAL SECURITY EXPERTS Shareholder Return
Slide 28: 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 It has been decided that the basic policy of paying cumulative dividends will continue, and it was announced on July 11, 2025 that the dividend payout ratio for the fiscal year ending March 31, 2026 will be 35.0%, up 4.0 pt year on year 32.73 Fiscal ye
Slide 29: Medium-Term Business Plan and Growth Strategy
Medium-Term Business Plan and Growth Strategy
Slide 30: 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 25% annual net sales growth in existing businesses Operating income margin of +1.0 pt annually; aim to increase operating income (Millions of yen) Net sales (Millions of yen) Operating income and operating income margin CAGR 25.0% ＋1.0pt annu
Slide 31: 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 and Confidence in Further Growth Alliance strategy to achieve 25% annual sales growth and ensure further growth as stated in the medium-term management plan Capital and business alliances with strateg
Slide 32: 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 Expanding Nippon Cyber sales Expansion Growth Security Funding Security Fund 1 acceleration Investment Limited channe
Slide 33: Management Topics
GSX GLOBAL SECURITY EXPERTS Management Topics
Slide 34: GSX Security Training Courses
G S X S e c u r i t y Tr a i n i n g C o u r s e s R e g i s t e r f o r g o ve r n m e n t ’s d i g i t a l s k i l l s a s s e s s m e n t c e r t i f i c a t i o n “Government Digital Human Resources” to Deal with IT and Security at Government Institutions Adopt GSX Security Training as a Require
Slide 35: Promoting the Offering of Security Training Courses
P r o m o t i n g t h e O f f e r i n g o f S e c u r i t y Tr a i n i n g C o u r s e s Concluded a sales agent agreement with NTT DATA. Began offering program to the Group and its customers Group and its customers ➢ Promoting the zero trust environment for customers Zero trust: Thinking about and
Slide 36: Notifications of IR Seminar for Individual Investors
N o t i f i c a t i o n s o f I R S e m i n a r f o r I n d i vi d u a l I n ve s t o r s Joint IR seminar to be held for individual investors by four security companies on Sunday, September 28 Individuals who wish to attend can register via the link below https://peatix.com/e vent/4473788 Date and
Slide 37: ESG Initiatives
GSX GLOBAL SECURITY EXPERTS ESG Initiatives
Slide 38: 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 39: Appendix
GSX GLOBAL SECURITY EXPERTS Appendix
Slide 40: 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 41: 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 42: 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.) Jan. 2009: Director and General Manager of Apr. 1991: Security Business Division, Cloud Technologies, Inc. Joined AMADA METRECS CO., LT
Slide 43: 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 44: 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 45: 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 46: 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 47: 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 ord
Slide 48: 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* incidents* countermeasures Normalcy (
Slide 49: 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 50: 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 Enab
Slide 51: 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 Japan 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 securit
Slide 52: 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 53: Sales Strategy — New Customers: Strengthening Digital Marketing
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 54: 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 Capturing the High profits and diverse issues needs of many customers + thanks to GSX-unique offerings Semi-large and medium-sized companies, SMEs and up-selling
Slide 55: 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 56: 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 un
Slide 57: Financial Highlights
Financial Highlights Fiscal Period FYE3/2021 FYE3/2022 FYE3/2023 FYE3/2024 FYE3/2025 Net sales (Thousands of yen) 2,948,871 4,391,317 5,558,022 7,002,941 8,801,647 Ordinary income (Thousands of yen) 239,370 414,331 737,512 1,104,319 1,562,981 Net income (Thousands of yen) 167,657 261,099 488,120 783
Slide 58: 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 59: GSX Global Security Experts
GSX GLOBAL SECURITY EXPERTS
Global Security Experts — Q1 FYE3/2026 Earnings Presentation on 6ix