ACCESS CO., LTD., the Tokyo-listed maker of embedded browsers and network operating software, told the exchange on September 11 that revenue for the six months to July rose 16.8% year on year to ¥10.578bn, while its operating loss narrowed to ¥779mn from ¥1,989mn and its net loss attributable to owners shrank to ¥588mn from ¥2,718mn a year earlier. The improvement rests almost entirely on one segment: network software revenue more than doubled to ¥5,745mn on a large order booked the previous year, even as that segment still lost ¥589mn.
The other two businesses moved the other way. IoT segment revenue fell 26.9% to ¥3,859mn and swung to a ¥113mn segment loss as a prior-year large project dropped out of the comparison, while the web-platform business (embedded browsers and video-delivery software) fell 13.1% to ¥973mn with a ¥90mn loss.
| Segment | Revenue (¥mn) | Change vs prior year | Segment result (¥mn) |
|---|---|---|---|
| Network | 5,745 | +116.1% | -589 |
| IoT | 3,859 | -26.9% | -113 |
| Web platform | 973 | -13.1% | -90 |
| Group total (consolidated) | 10,578 | +16.8% | -779 (operating loss) |
A same-day companion notice disclosed a ¥192mn foreign-exchange gain for the half, mostly from revaluing an overseas subsidiary's foreign-currency liabilities, which narrowed the gap between the operating loss and the smaller net loss without changing the underlying trading picture. Full-year guidance was left unchanged from the figures published in March: ¥23,000mn revenue, ¥800mn operating profit, ¥610mn net profit, and no dividend.
The harder read is buried in the going-concern note. ACCESS's semiannual securities report states that events raising material doubt about its ability to continue as a going concern existed at the prior fiscal year-end and persisted through the interim period-end, tied to a multi-year run of operating losses that has depressed its cash position. Management judges that no material uncertainty remains, citing a large customer win as a multi-year revenue pillar, and says it is turning concrete on options including a capital alliance, capital-market financing, or bank borrowing and commitment lines to shore up its balance sheet. The equity ratio fell to 36.3% at the interim mark from 39.6% at the start of the fiscal year and 50.6% a year earlier.
That funding pressure sits alongside an unresolved exchange sanction. The Tokyo Stock Exchange designated ACCESS a Special Attention stock from August 27, 2025, after a special investigation found that executives at its network-business overseas subsidiary had inflated and prematurely booked software-license revenue and overstated capitalized development costs from the fiscal year beginning January 2018 through the second quarter of the fiscal year ended January 2025. Restated figures showed the 2024 fiscal-year operating loss had been understated as ¥105mn rather than the true ¥1,977mn, and separately that ACCESS's 2020 move from the Mothers market to the First Section was approved on financial figures the exchange found had been misstated despite a signed affidavit of accuracy. ACCESS filed an internal-control confirmation with the exchange on August 27, 2026, and the exchange's review of that confirmation is ongoing. Under the exchange's own rules, a finding of inadequate internal controls means delisting in principle; a finding that controls are properly designed but not yet properly operated, provided there is a reasonable prospect of proper operation, would keep the Special Attention tag in place, with a further review due by the end of the fiscal year in which continuation is decided, or the following fiscal year if less than three months of that year remain.