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Company Research Report: R&D COMPUTER CO., LTD. (3924)
Landcomp Research Memo (9): Dividends will be maintained at 36.0 yen. There may be room for an increase in dividends after the performance recovery.
Land Computer <3924> positions Dividends as one of the key management issues in its shareholder return strategy.
Land Comp Research Memo (5): Building trust through qualification acquisition and strengthening Mainland Education, proactive training for new employees.
■Overview of Land Computer <3924> 4. IT-related qualifications and business qualifications (1) Number of certificate holders The company's strength lies in its group of excellent technicians. The acquisition of business qualifications that deepen the understanding of customer operations, not only in IT-related qualifications but also in finance, industry/distribution, and healthcare, is actively promoted. As of the end of March 2024, the total number of holders of IT-related qualifications and business qualifications is 2,379 (of which 2,099 are IT-related certificate holders and 280 are business certificate holders) and per person.
Land Comp Research Memo (4): Sap Se-Sponsored Adr business is rapidly growing through M&A, and SuperStream is expanding due to demand from legal amendments.
■Land Computer <3924> Business Overview (2) Sap Se-Sponsored Adr - Integrated Core Business Package. Germany's SAP, established in 1972, is the company with the largest market share in the Enterprise Resource Planning (ERP) sector. In April 2021, the company acquired 100% of the shares of Infree, a specialized company, as its first M&A and made it a subsidiary. Infree, founded in 2001, specializes in consulting for the implementation of SAP's integrated core business package "SAP R/3" and add-on software.
Landcompu Research Memo (3): Package-based SI and services are experiencing growth beyond expectations.
■ The business overview of Land Computer <3924> 1. System Integration and Services System Integration and Services is the core business, accounting for 54.9% of revenue composition in the first half of the fiscal year ending March 2025. The breakdown by Global Sectors for this service shows that finance accounts for 43% (of which Bank is 26%, Crediting is 13%, and Financial QITABANKUAI is 4%), Industry and Distribution is 41%, Public is 9%, and Medical is 7%.
Landcom Research Memo (2): Expanding profits through growth strategy. Temporary decline in profit margins due to the resolution of unprofitable projects.
■Company Overview 1. Company Overview Land Computer <3924> has a history as an independent system integrator and celebrated its 50th anniversary in January 2021. It is rare in the information services industry to have its origins as an educational institution. With the company motto "Decided by the heart," the goals are: 1) To create customer value and enhance customer satisfaction, thereby increasing corporate value. 2) To become a leading company in information technology as a professional group that opens up the next generation. 3) To always foster an innovative corporate culture.