Liberaware (218A) investor relations material

Business model and products

• Three businesses: drone services and sales/rentals, digital-twin data processing and software, and custom hardware-to-software solution development.

• IBIS2 is a 20 × 20 × 6 cm, 243 g industrial drone designed for confined, dark and hazardous spaces; capabilities include non-GPS flight, dust resistance and operation in pipes as narrow as 500 mm.

• LAPIS is being developed from an image-analysis tool into a spatial data platform linking devices, analytics, AI and business systems; its platform business began in FY26/7.

• TRANCITY, co-developed with CalTa, converts drone or smartphone video into 3D and point-cloud data; cumulative users exceeded 11,900.

• Revenue mix in FY26/7, excluding new areas: drone business 54%, digital twin 20% and solution development 26%; digital-twin revenue grew for a third consecutive year since full-scale launch.

Market position and execution

• Domestic drone-market forecasts: ¥497.3bn in FY25, ¥633.2bn in FY27 and ¥954.4bn in FY30, with a five-year CAGR of 13.9%; inspection demand and domestic sourcing are cited as growth drivers.

• Cumulative customer base exceeded 450 companies as of July 2026; about 60% of customers were major companies, and 77 engineers were on staff.

• IBIS drones completed internal surveys of Fukushima Daiichi units 1 and 3; unit 3 footage captured fallen components and deposits that may include fuel debris.

• Kumamoto earthquake response began 18 hours after the event, with Self-Defense Forces and fire services; Yashio sewer inspections identified a vehicle cabin on the inspection day, eight days after the accident began.

• A station-building ceiling inspection case cut work from 14 days to 6; a subway shaft inspection avoided scaffolding and reduced scaffolding costs by about 90%.

Growth strategy

• Four priorities: expand infrastructure maintenance, build a domestic unmanned-aircraft platform, grow infrastructure data and AI, and develop overseas business through regional partners.

• Sewer-drone adoption is expanding: sales in the sewer sector rose from zero before January 2025 to 34 units from February 2025 onward; regulatory changes and partnerships are supporting wider deployment.

• Railway inspection drones are under development, with service launch planned for April 2028; the national project has a ¥5.2bn grant ceiling, of which ¥2.7bn had been received by FY26/7, and six railway operators participate.

• The autonomous patrol camera Torinos targets routine monitoring of large facilities; estimated market potential is ¥920bn TAM and ¥15bn–¥30bn SOM.

• HINOTATE is intended to connect domestic drone development, production, supply chains and critical components; battery collaboration with NEO Battery Materials Korea targets cell-to-aircraft optimization and domestic supply capacity.