Micware Co (MWC) Investor presentation summary

Investment highlights

• Strategic partnerships with Toyota and Honda, both as customers and shareholders, reinforce credibility and market access.

• Over 20 years of automotive software experience, with a focus on IVI, navigation, and mobility solutions.

• Profitable core business with record-high gross margins and increased R&D investment to fund future growth.

• micAuto-PF aims to standardize and commercialize automotive software assets, targeting scalable service revenue.

• DynaPlanet, an intelligent 3D spatial platform, is in early commercialization, with large-scale deployments as a medium- to long-term growth option.

Business overview and operations

• Operates six entities and 13 branches in Japan, with subsidiaries in the US, Thailand, and Germany.

• Holds over 360 patents and employs more than 600 people as of June 2026.

• Revenue model includes software development services, licensing, and software-related services.

• Over 80% of FY2026 revenue comes from software development services, with licensing and services making up the rest.

• Top three customers account for 78.3% of FY2026 revenue, with 98.5% of revenue from Japan.

Financial performance

• FY2026 revenue reached $140.2M, with a gross margin of 36.8%, up 1.8 percentage points year-over-year.

• Adjusted operating profit for FY2026 was $15.6M, with a margin of 11.1%.

• Net income attributable to shareholders was $10.3M, with a net margin of 7.3%.

• Cash and cash equivalents stood at $52.9M as of February 28, 2026, with total indebtedness at $34.5M.

• R&D expenses increased by 40% YoY, supporting future innovation while maintaining profitability.