Stronger numbers, later release
Aisan Technology's annual results showed a stronger business, but they arrived only after the company missed the 50-day post-year-end disclosure window. For the year to March 2026, revenue rose 22.1% to ¥7.59bn, operating profit jumped 69.2% to ¥760mn, ordinary profit reached ¥761mn and net profit climbed 82.4% to ¥522mn. Public-segment sales grew to ¥3.25bn and mobility and DX sales to ¥4.33bn. The company also set a ¥37 year-end dividend, up from ¥25.
| Item | Figure | Read-through |
|---|---|---|
| Revenue | ¥7.59bn | Above the earlier ¥7.20bn forecast |
| Operating profit | ¥760mn | Above the earlier ¥600mn forecast |
| Net profit | ¥522mn | Up 82.4% year on year |
| Year-end dividend | ¥37 per share | Up from ¥25 per share |
| Cumulative operating-profit hit from subsidiary misconduct | ¥49mn | Company says the issue was not an organized scheme |
| Next-year revenue plan | ¥8.00bn | The company guides 5.4% growth |
| Next-year operating profit plan | ¥850mn | The first half is planned to be loss-making |
Aisan said the delay reflected a special investigation into suspected improper transactions at a wholly owned subsidiary, followed by its own closing work and audit procedures. Management says it will rebuild internal controls and return to disclosing within 50 days of year-end.
What the committee found
The special investigation committee said a director at the subsidiary's marketing center in Ueda, Nagano could handle purchasing, inventory, estimates, sales booking and receivables clearance with too little segregation of duties. According to the company, he used that position to conceal below-cost sales to specific customers, book fictitious sales and later cancel them, and divert proceeds from internet auction sales of company-owned surveying equipment and off-books items to a personal bank account. Aisan said the cumulative hit to consolidated operating profit was ¥49mn, and it described the misconduct as the work of that individual rather than an organized scheme.
The committee also said some shipping slips and invoices were missing, which meant part of the document review had to be supplemented by interviews, digital forensics and customer confirmations.
What changes now
Aisan's response is less about slogans than workflow. The used surveying-equipment buying and selling business at the subsidiary's marketing center will stay suspended until new controls are in place. Invoices and delivery notes are meant to be issued through systems rather than spreadsheets, inventory will be tracked by serial number, receivables aging lists and customer balance confirmations will be standardized, and a group monitoring committee chaired by the president will supervise implementation. Each group company is also due to get a chief compliance officer role, filled by its president.
The company also disclosed penalties: Aisan said its president will return 30% of monthly pay for three months, the subsidiary president 20% for three months, and the director at the center was removed on June 12. The company is also considering legal action against him.
What to watch next
A separate correction revised prior-year non-consolidated total assets to ¥7.99bn from ¥8.07bn and the equity ratio to 74.8% from 74.1%, while leaving sales, profit and net assets unchanged. Even so, Aisan said actual results beat its May forecast despite the subsidiary issue, and it is guiding for revenue of ¥8.00bn and operating profit of ¥850mn next year. The near-term catch is timing: management says the first half is still likely to be loss-making because mobility projects and contract work book revenue late in the year while hiring and investment costs land earlier.