techmatrix corporation · external environment and our challenge actual status and challenge 1....

1

Results for 31st business period (Fiscal Year Ending March 31st, 2015)

TechMatrix Corporation

http://www.techmatrix.co.jp/

(Stock Code:3762)

May 29, 2015

Copyright © 2015 TechMatrix Corporation. All rights reserved．Ver.2015.5.29

2

Contents

1. Business Highlights for 31st Business Period

2. Progress of Business Strategy for 31st Business Period

3. Medium-term Management Plan ”TMX 3.0”

4. Stock price trend & shareholder returns

5. Market Conditions for our business

3

15

18


24

25

3

1. Business Highlights for 31st Business Period


4

1. Business Highlights (Consolidated) Highlights


■Net Sales： 18,417 ¥Million

■Year on year ：up 6.1%

■ Operating income: 1,130 ¥Million (year on year up 1.0 %)

Operating income margin:6.1%

■ Ordinary income: 1,132 ¥Million (year on year down 2.7 %）

■ Net income : 584 ¥Million (year on year down 26.3 %）

■ CROSS HEAD made NCLC a wholly owned subsidiary. (CROSS HEAD merged NCLC on April 1, 2015) ■ Relocated and integrated our Head Office in order to meet our expanding business as well as increase in

workforce and to improve management efficiency by integrating the office space of Head Office. The new Head Office started operation on May 7, 2015.

■ Partial recovery in domestic IT investment is seen.

■ Sales bookings have gone on as planned.

■ Strategic expansion of stock-type businesses including cloud services has gone on as planned.

■ Offset sales decline of the Healthcare segment as planned with sales growth of other business segments.

■ 5 consolidated subsidiaries were profitable.

■ Recorded extraordinary loss in connection with relocation of the Head Office.

■ Net income increased due to the addition of deferred tax assets in Q1 of FY03/2014.

Income

Net sales

5

1. Progress of business performance


(¥Million)

Net sales (Consolidated)

Business Highlights

3,467

3,696

3,823

3,949

4,049

4,162

4,499

4,654

3,394

4,252

3,864

4,375

4,368

4,620

5,165

5,438

0 2,000 4,000 6,000 8,000 10,000 12,000 14,000 16,000 18,000 20,000

FY03/2012

FY03/2013

FY03/2014

FY03/2015

Q1 Q2 Q3 Q4

6

1. Progress of business performance


Operating income (Consolidated)

Business Highlights

73

93

58

63

393

431

372

286

96

346

179

192

408

322

507

587

0 200 400 600 800 1,000 1,200 1,400

FY03/2012

FY03/2013

FY03/2014

FY03/2015

Q1 Q2 Q3 Q4

(¥Million)

7

1. Net sales of business segments


(Consolidated)

Business Highlights

9,921 9,805 10,561 11,195

12,044

5,280 5,474

6,170 6,157

6,373

0

5,000

10,000

15,000

20,000

FY03/2011 FY03/2012 FY03/2013 FY03/2014 FY03/2015

Information Infrastructure Business Application Services Business

(¥Million)

8

1. Information Infrastructure Business


■Highlight The sales of our main product, load balancers, have tended to peak out somewhat. Sales have steadily increased for next-generation firewalls for the public and private sectors, due in part to the growing threat from cyber-attacks such as Advance Persistent Threat (APT). Sales of anti-virus software licenses, website vulnerability assessment tools, URL Filtering appliance, Computer Forensics product , and other security-related products were solid. Number of contracts of security operation and monitoring services steadily increased. In conjunction with the accelerating growth of digital data, orders for cluster storage greatly increased. Sales of Sandbox (security) product for strengthening defense against unknown cyber-attacks, Security Information and Event Management (SIEM) product as security-related products in new fields started to grow. While CROSS HEAD received continuous orders in the maintenance, operation and monitoring services, it lost some sales opportunities due to difficulty in securing sufficient engineering staff. Okinawa Cross Head Co., Ltd. struggled somewhat to maintain sales and profitability because of stagnation of projects for government and other public agencies in Okinawa. Although sales of next-generation network appliances were favorable, the profitability deteriorated primarily due to the depreciation of the Japanese yen.

■Business performance :Net sales 12,044¥Million（Year on year 7.6％ up）

:Operating income 1,029¥Million（Year on year 17.4% up)

■ Achieved the highest ever sales record

(Consolidated)

(¥Million)

Business Highlights

9,921 9,805 10,561

11,195 12,044

824

934

1,017

1,017

1,029

0

200

400

600

800

1,000

0

2,000

4,000

6,000

8,000

10,000

12,000

FY03/2011 FY03/2012 FY03/2013 FY03/2014 FY03/2015

Net Sales Operating income

9

1. Application Services Business


■ Business performance :Net sales 6,373¥Million (Year on year 3.5％ up)

:Operating income 101¥Million (Year on year 58.3％ down)

■Highlight ●The Internet Service field

・Contracted development business sustained good performance mainly due to orders of developments related to smartphones from existing customers. ・Shortage of software developers was an issue.

・CASAREAL, Inc. sales stagnated somewhat due to difficulty in securing sufficient engineering staff.

The Software Quality Assurance field ・Sales were in good shape in the context of rising demands for test tools in the

manufacturing and financial industries. ・The necessity for improvement of the quality of embedded software and functional

safety is prevalent in the manufacturing industry. ・ Demands for functional safety consulting for embedded software in the Medical

Device field increased.

The Healthcare field ・NOBORI, a cloud service for healthcare information, received substantial inquiries

and steadily increased orders. ・The revenue of this service is recognized in proportion to its corresponding service

period, this method will result in a decrease of revenue for the short term. (business results are progressing almost as planned.)

・ Ichigo LLC steadily expanded the number of contracted facilities, teleradiology orders, and pay-as-you-go payments as a result of progress of gaining customers from healthcare facilities and others in addition to the conventional service provision for hospitals, which led to better results than scheduled in both revenue and profit terms.

The CRM field ・Sales remained steady thanks to increased orders from the business collaboration

with major system integrator as well as the expanding demands for cloud services. ・ Released “FastHelp5," a next generation product for contact center CRM.

(Consolidated)

(¥Million)

Business Highlights

5,280 5,474 6,170 6,157 6,373

△ 150

37

176

242

101

△ 200

0

200

400

0

2,000

4,000

6,000

8,000

FY03/2011 FY03/2012 FY03/2013 FY03/2014 FY03/2015

Net Sales Operating income

10

1. Balance sheet


FY03/2014 FY03/2015

Current assets 9,869 10,791

Cash and deposits 3,959 4,291

Notes and accounts receivable-trade 3,378 3,489

Advance payment-cost of maintenance service 1,723 2,101

Other 808 909

Noncurrent assets 3,301 3,435

Property, plant and equipment 448 472

Goodwill 649 344

Other 756 830

Investments and other assets 1,446 1,787

Total assets 13,170 14,227

FY03/2014 FY03/2015

Current liabilities 6,033 6,738

Accounts payable-trade 1,135 1,116

Short-term loans payable 350 350

Advance received-sales of maintenance service 2,907 3,282

Other 1,640 1,988

Noncurrent liabilities 885 1,037

Total liabilities 6,918 7,776

Shareholders' equity 6,165 6,422

Total accumulated other comprehensive income

0 26

Minority interests 87 2

Total net assets 6,252 6,451

Total liabilities and net assets

13,170 14,227

(Consolidated)

(¥Million)

Business Highlights

Equity ratio : 45.3% as of March 31, 2015. 46.8％ as of March 31, 2014.

11

1. Cash Flows


(Consolidated)

(¥Million)

Business Highlights

FY03/2014 FY03/2015

Ⅰ. Net cash provided by operating activities 1,247 1,075

Ⅱ. Net cash provided by investing activities △976 △341

Ⅲ. Net cash provided by financing activities △145 △205

Ⅳ. Net increase in cash and cash equivalents 126 527

Ⅴ. Cash and cash equivalents at beginning of period 3,633 3,759

Ⅵ. Cash and cash equivalents at end of period 3,759 4,291

12

1. Activities


Business Highlights

Date Contents

Jun.

Entered into distributorship agreement with Indonesia-based CBN Cloud

CROSS HEAD concluded a Japan exclusive distributorship agreement with French company Ulteo SAS

Announcement of the details of the shareholder special benefit plan

Jul. Entered into distributorship agreement with Nippon Jimuki Co., Ltd. for sales of NOBORI

Aug. Okinawa Cross Head Co., Ltd. entered into a business alliance with Hewlett-Packard Japan, Ltd.

Sep.

Concluded distributorship agreement with U.S.-based Avere Systems, Inc.

Concluded distributorship agreement with U.S.-based VERACODE, Inc.

13

1.


Date Contents

Oct.

CROSS HEAD made investment in U.S.-based Pica8, Inc.

NCL Communications K.K. commenced the provision of a free trial license for "PicOS", a new network OS, announced by Pica8, Inc.

Commenced the provision of a cloud service for healthcare information jointly with SoftBank Telecom Corp. and Densan, Inc.

Nov.

Commenced the provision of the Web-based assistance for customer support organization

Notice regarding TechMatrix CRM FORUM 2015, Japan's largest seminar for C.C.professionals

Dec. CROSS HEAD acquired 100% ownership of NCL Communications

Business Highlights Activities

14

Date Contents

Jan.

Merger of consolidated subsidiaries

Downward earnings forecast of special loss due to head office relocation

Feb.

Commencement of new security monitoring service to defend unknown cyber-attack

Commenced the provision of “FastHelp5” as a new version of the Contact Center CRM system and new "FastHelp Pe", the CRM system for medicine counseling room

Held TechMatrix CRM FORUM 2015, Japan's largest seminar for Contact Center professionals

NCLC commenced the provision of software as a self-developed product for the next-generation network construction

Mar.

CASAREAL signs training partner contract with JetBrain and commences business tie-up with Samuraism

Entered into OEM agreement with 3z Corporation for sales of WATARU


1. Business Highlights Activities

15 Copyright © 2015 TechMatrix Corporation. All rights reserved．Ver.2015.5.29

2. Progress of Business Strategy for 31st Business Period

16

2. Topics


NOBORI •Steadily increased the number of customers as planned toward the goal (a total of 300 at the end of this fiscal year) •Sales bookings steadily grew by obtaining large-scale orders and strategically enhancing business alliances

Ichigo LLC •Led to better results than scheduled in both revenue and profits due to steady increase of the number of healthcare facilities

CRM •Increase demands for cloud services and business collaboration with major system integrators led to strong sales results •Commenced the provision of the Web-based assistance for customer support section

Internet Service •Contracted the large-scale orders for EC-related development projects and sustained good performance

Network and Security •Concluded distributorship agreement with U.S.-based Avere Systems, Inc., known for its Hybrid Cloud NAS system, and U.S.-based VERACODE, Inc., who provides cloud-based application vulnerabilities assessment service.

Software Quality Assurance •Sales were in good shape in the context of rising demands for test tools in the manufacturing and financial industries. Consulting services revenue for functional safety increased mainly in healthcare equipment industry.

Pursuit of security and safety

(non-consolidated)

Progress of Business Strategy

17

2. Stock type sales ratio


Application Services Business Information Infrastructure Business

(non-consolidated)

Progress of Business Strategy

1,258 1,232 1,431

1,612 1,903

2,212 2,501

3,896 3,972 3,416

3,528

3,805 3,490

3,478

24.4% 23.7%

29.5%

31.4%

33.3%

38.8%

41.8%

0.0%

5.0%

10.0%

15.0%

20.0%

25.0%

30.0%

35.0%

40.0%

45.0%

50.0%

0

1,000

2,000

3,000

4,000

5,000

6,000

7,000

FY03/09 FY03/10 FY03/11 FY03/12 FY03/13 FY03/14 FY03/15

Stock

Non-stock

Stock ratio

2,120 2,414

2,634 2,812 2,909 3,003

3,216

3,417 3,171

2,963

3,470

3,857 3,874

4,777

38.3% 43.2%

47.1%

44.8%

43.0% 43.7%

40.2%

0.0%

5.0%

10.0%

15.0%

20.0%

25.0%

30.0%

35.0%

40.0%

45.0%

50.0%

0

1,000

2,000

3,000

4,000

5,000

6,000

7,000

FY03/09 FY03/10 FY03/11 FY03/12 FY03/13 FY03/14 FY03/15

Stock

Non-stock

Stock ratio


3. Medium-term Management Plan ”TMX 3.0”

External environment and our challenge

Actual status and challenge

1. Some encouraging signs of recovery started to appear such as continuing depreciation of the Japanese yen, higher stock prices, lower crude oil prices, consumer price increase and pickup in exports

2. shift in orientation of IT system investment from “ownership of equipment (on-premise type)” to “usage of services (cloud type)”

3. The era arrived where the various devices around us are electronically controlled by embedded software

4. Increasing sophistication of security threat from cyber-attacks 5. low growth of domestic IT investment

1. Touch the bottom of negative impact and come back into the black in cloud business for healthcare information

2. Sustainable growth and stability of our business 3. Expand our market share and promote our growth in excess of market growth rate 4. improve profit rate (cost reduction)

External environment

19

Goal of “TMX 3.0”

Continuing transformation to "Next-Gen. IT Service Creator", "Next-Gen. IT Service Provider"

10％

To

¥30Billion

50％

10％

Growth rate of net sales

Business scale may reach ¥25B-30B through M&A and expanded Biz in overseas markets

Stock type sales ratio (Cloud, maintenance, operation and monitoring services)

Challenge to operating income margin of 10%

20

15,202 15,279 16,731 17,353

18,417

20,400

22,700

25,100

666

971

1,194 1,118 1,130

1,300

1,700

2,350

0

500

1,000

1,500

2,000

2,500

0

3,000

6,000

9,000

12,000

15,000

18,000

21,000

24,000

27,000

FY03/2011 FY03/2012 FY03/2013 FY03/2014 FY03/2015 FY03/2016(Plan)

FY03/2017(Plan)

FY03/2018(Plan)

Net sales Operatting income


Strategy for next 3 years

Key

principle

Business

strategy

Operation

strategy

Shareholder

returns

Continuing transformation to "Next-Gen. IT Service Creator", "Next-Gen. IT Service Provider" through a breakaway from labor-intensive contract business as conventional type.

• Strategic and accelerated promotion of cloud-related businesses ‣ Self-driven operation of cloud service businesses (SaaS) ‣ Development and provision of technologies to enable cloud services

• Pursuit of security and safety ‣ Provision of network security solutions ‣ Provision of solutions for software functional safety and software quality assurance

• Cost reduction for high profitability ‣ Promote the active utilization of offshore development ‣ Improve operation efficiency by integrating the office space of Head Office (The new Head Office started operation on May 7, 2015) ‣ Transform business model without monotonic increase of human resources (Further promote service type business)

• Closer ties with partners • Strengthen direct sales. Penetrate deeply into the market for the government and

other public agencies • Strengthen workforce by promotion of diversity • Strengthen company's brand as corporate group

• Key principle : dividend payout ratio is more than 20% at the end of fiscal year • Emphasize an increase in dividends based on profit level • Improve the shareholder special benefit plan

21

Strengthen company's foundation and indicate basic policy to the next 30 years (Establish growth gene)


Strategic and accelerated promotion of cloud-related businesses

• Profit contribution by the cloud business (Realize profitability of the healthcare cloud business) • Turn our cloud service into a platform (diversification) • Establish cloud business in overseas (Asian) market (At first, the success of the joint venture in China） • Quality improvement for cloud operation (Exponential improvement of operational skills） • Strategic application of virtualization technologies (Cloud first) • Analysis of Big data gathered by the cloud (Secondary use of the data )

Core business strategy

• Enhancement of defenses against cyber-attacks and provide as one-stop service • Design, construction, maintenance, operation and monitoring services Realize value chain of automatization • Realize functional safety of embedded software for IoT (Internet of Things) • Contribute to safety and security within Internet-based society.

(accumulation of knowledge as a professional group in the Technology for Information Security and Software Quality Assurance field)

Pursuit of security and safety


22,700

6.4% 7.5% 9.4%

Business plan on our segments

20,400

25,100

16,731 17,353

18,417

23

10,561 11,195

12,044

13,800

15,400

17,000 6,170 6,157

6,373

6,600

7,300

8,100

0

5,000

10,000

15,000

20,000

25,000

30,000

FY03/2013 FY03/2014 FY03/2015 FY03/2016(Plan)

FY03/2017(Plan)

FY03/2018(Plan)

Information Infrastructure Business

Application Services Business

1,017 876 1,029 1,120 1,320 1,600

176 242 101 180

380

750

0

500

1,000

1,500

2,000

2,500

Information Infrastructure Business

Application Services Business

2,350 1,700 1,300 1,130 1,118 1,194

Net sales Operating income

Operating income margin

(¥Million) (¥Million)

Evolution for a stronger company materializing sustainable growth



March/08 March/09 March/10 March/11 March/12 March/13 March/14 March/15 March/16(Plan)

Shareholder special benefit plan

Eligible shareholder Shareholders who have 500 shares and over at the end of September Benefit plan 500 and over : ¥1,000 worth of products or

donation to charity 1,000 and over : ¥3,000 worth of products

or donation to charity

*The Company conducted a stock split at a ratio of 200 shares for every 1 share of common stock on April 1, 2013, based on a resolution passed at the Board of Directors’ meeting held on February 28, 2013. Accordingly, stock price and dividend are calculated assuming the stock split was conducted at the beginning as of March 2009.

¥310 2008/3

¥467 2010/12

¥721 2013/12

Net s

ale

s/O

pera

ting in

com

e

(¥m

illion

)

Sto

ck

pric

e(¥

)

800

400

4. Stock price trend & shareholder returns

¥756 2015/5/20

9.0 9.0 12.5 12.5 12.5 12.5 15 15

3.5

2.5

2.0

30.8 44.9

81.1

35.0 23.9 22.6

31.1 24.5

0.0

10.0

20.0

30.0

40.0

50.0

60.0

70.0

80.0

90.0

0.0

2.0

4.0

6.0

8.0

10.0

12.0

14.0

16.0

18.0

FY03/9 FY03/10 FY03/11 FY03/12 FY03/13 FY03/14 FY03/15 FY03/16

(Plan)

(%) (¥) Dividend per share Commemorative dividendOrdinary dividenddividend payout ratio

1,300 1,130 1,118 1,194 971 666 746 740 1,099

20,400 18,417 17,353 16,731

15,279 15,202 14,248 13,438 11,612

0

5,000

10,000

15,000

20,000

25,000Operating income Net sales ー Stock price


5. Market Conditions for our business

26

5. Market Conditions Forecast of cloud market size (Japan)


Domestic cloud market size was ¥625.7 billion (22.6% up year on year). Forecast over ¥1,000 billion in FY2015 and expand to ¥1,800 billion. The “cloud first” is prevailing in the market. 80% of companies have evaluated cloud services when they build new system.

Forecast ¥1,800 billion in FY2018

(¥Billion)

Reference : Cloud business market report 2014(4.Nov.2014) by MM Research Institute

0

500

1,000

1,500

2,000

FY2013 FY2014 FY2015 FY2016 FY2017 FY2018

Private cloud (Hosted, On-premise, community) Public cloud（SaaS, IaaS/PaaS）

27

PACS: Picture Archiving and Communication System


Number of contracted facilities using cloud is 102 as of the end of FY2012 in Japan. They estimate full-fledged growth in about 2014. Techmatrix has successfully contracted with 50 facilities as of the end of FY2012. Accumulated total 150 as of the end of FY2013, about 300 as of the end of FY2014.

Reference : Medical Imaging Systems and PACS Markets 2014 by Yano Research Institute

102

241

416

515

637

775

900

355

667

1,133

1,462

1,950

2,405

2,696

0

500

1,000

1,500

2,000

2,500

3,000

0

100

200

300

400

500

600

700

800

900

1,000

FY2012

（actual)

FY2013

（actual)

FY2014

（estimated)

FY2015

（estimated)

FY2016

（estimated)

FY2017

（estimated)

FY2018

（estimated)

Number of contracted facilities Estimated capacity

(facilities) (TB)

*Estimate as of Dec.2014

PACS Cloud market size estimate

5. Market Conditions

28

Type of PACS Cloud


Techmatrix is ahead in the healthcare cloud business with "NOBORI" which is installable at a low price and in short term.

Cloud type

Brief summary Feature Configuration image “NOBORI”

TYPE 1

Store both short term and long term data in a in-house server + data center (dual storage for all data)

Data back up by data center

Additional cost －

TYPE 2

Store short term data in a in-house server + long term data in data center

High frequency use data in hospital

Additional cost

－

TYPE 3

All data in data center without in-house server (only cash in NOBORI appliance)

No additional cost and lower price range ◎


29

5. CRM software market size (Japan)


Market size of Call center (telemarketing) is forecasted to grow at average rate of 1.7% each year form FY2011 to FY2016 and to ¥708.6 Billion as of FY2016 Market size of Contact center (CRM Solution) is forecasted to grow at average rate of 4.7% each year form FY2011 to FY2016 and to ¥545.6 Billion as of FY2016

Market Conditions

652 665 677 693 703 709

434 468

504 524 538 546

0

100

200

300

400

500

600

700

800

FY2011

（actual)

FY2012

（actual)

FY2013

（actual)

FY2014

(forecast)

FY2015

(forecast)

FY2016

(forecast)

Call center(telemarketing) Actual market size & forecast

contact center/CRM Solution Actual market size & forecast

*Service provider's sales. Estimate as of Jan.2015

Reference : Call Center (Telemarketing)/Contact Center/CRM Solution Market in Japan: Key Research Findings 2014 by Yano Research Institute

(¥Billion)

EC（BtoC）market size (Japan)

Market size rerated to EC was 12.5% up in 2012 year on year, and forecasted 17.4% up in 2013. Growth rate on average beyond 2013 at 11.9% has been forecasted (NRI)

Reference: ”The E-Commerce Market Survey“ by Ministry of Economy, Trade and Industry, “IT market trend survey to 2020” by Nomura Research Institute

（～2013：METI, 2014～：NRI）

Copyright © 2015 TechMatrix Corporation. All rights reserved．Ver.2015.5.29 34

(¥Billion)

6,089 6,696 7,788 8,459

9,513 11,166

12,800

14,400

25,100

1.79%

2.08%

2.46%

2.83% 3.11%

3.67%

0.00%

1.00%

2.00%

3.00%

4.00%

5.00%

0

5,000

10,000

15,000

20,000

25,000

30,000

2008 2009 2010 2011 2012 2013 2014

(NRI)

2015

(NRI)

2020

(NRI)

EC market size (actual/forecast) EC rate (actual)

EC（BtoC）market size (actual/forecast)


31

5. CRM software market size (Japan)


Market size related to CRM are ¥653.4 billion in FY2012, ¥686.2 billion in FY2015. Growth rate:1.6% a year Software market size in total amount of CRM is ¥111.5 billion in FY2012, ¥117.2 billion forecasted in FY2015 by increasing 1.8% in FY2012 and 1.7% in FY2013. SaaS market size will be ¥48.7 billion in FY 2015 from ¥36 billion in FY2012 at the annual growth rate of 10.6%. SaaS ratio was forecasted to expand 42% in FY2015 from 32% in FY2012.

Market Conditions

78,580 75,500 72,700 70,328 68,588

30,900 36,000 40,700 45,000 48,700

28% 32%

36% 39%

42%

0%

5%

10%

15%

20%

25%

30%

35%

40%

45%

0

20,000

40,000

60,000

80,000

100,000

120,000

140,000

FY2011

(actual)

FY2012

(actual)

FY2013

(forecast)

FY2014

(forecast)

FY2015

(forecast)

CRM on premise CRM SaaS SaaS ratio

(¥Million)

Reference : CRM business report 2013 by MIC Research Institute

32

5. Network & Security market size (Japan)


Forecasted Networks Security business market in Japan expanding from ¥359.4 billion in FY2013 to ¥471.2 billion in FY2018. High growth rate on average at 5.6% has been forecasted.

Market Conditions

(¥Billion)

Reference : Network Security business report 20134 by Fuji Chimera Research Institute

0

50

100

150

200

250

300

350

400

450

500

FY2013

(actual)

FY2014

(forecast)

FY2015

(forecast)

FY2016

(forecast)

FY2017

(forecast)

FY2018

(forecast)

Security service Security tools

33

5. Embedded system market size (Japan)


As for the embedded system market, it is expected that an annual rate of over 2% of gradual growth continues after FY2014. In FY2013, it is ¥867 billion compared with the previous fiscal year, up 3.5%. It is expected that the market finally grows up steadily, despite the embedded system market which was sluggish by recession after Lehman shock and the rapid shift to a smartphone .

Market Conditions

(¥Million)

555,000 567,000 587,000 609,000 626,000 640,000

162,000 162,000 167,000 172,000 175,000 177,000 115,000 109,000

113,000 117,000 120,000 122,000

14% 13% 13% 13% 13% 13%

-6%

-4%

-1%

2%

4%

7%

9%

12%

14%

0

100,000

200,000

300,000

400,000

500,000

600,000

700,000

800,000

900,000

1,000,000

FY2011

(actual)

FY2012

(actual)

FY2013

(forecast)

FY2014

(forecast)

FY2015

(forecast)

FY2016

(forecast)

Service Hardware Software Software ratio Software ratio change from previous year

Reference : Embedded system solution report 2013 by MIC Research Institute


TechMatrix Corporation Planning and accounting division Corporate planning team

TEL:03-4405-7802 [email protected]

techmatrix corporation · external environment and our challenge actual status and challenge 1....

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