BayCurrent (6532) Corporate presentation summary

Strategic positioning and current plan

• Demand is expanding in AI, cybersecurity, defense, energy, semiconductors, data centers, and other frontier fields; the strategy centers on comprehensive, company-wide transformation support.

• The current medium-term plan is progressing ahead of schedule, with its FY2028 revenue target of ¥250B and EBITDA margin target of 30–40% expected to be substantially achieved in FY2027.

• FY2026 initial guidance is revenue of ¥190B and EBITDA of ¥66.5B, with a 35% EBITDA margin.

Performance plan toward FY2030

• FY2030 targets: revenue of ¥500B, EBITDA of ¥200B, and a 40% EBITDA margin; targeted revenue CAGR is 25–30% and EBITDA CAGR is 30%+.

• Growth priorities include scaling the established sales and delivery model, expanding high-value CxO and company-wide AI transformation support, and using AI internally to improve productivity.

• New demand is expected from national-policy areas including cybersecurity, defense, energy, and semiconductors, as well as broader AI transformation needs at leading Japanese companies.

Growth roadmap toward FY2035

• FY2035 targets: revenue of ¥1T, EBITDA of ¥450B, and a 45% EBITDA margin.

• Roadmap targets include a backlog ratio of ~50% and overseas revenue proportion of ~20%, supported by longer-term comprehensive engagements and overseas local delivery capabilities.

• Estimated market capitalization is ~¥5T for FY2030 and ~¥10T+ for FY2035, based on assumed P/E ranges of 30–40x.