Fiscal Year Ended March 2024 (FY3/24)

Results Briefing

SYSTEM RESEARCH CO., LTD.
(TSE Prime: 3771 )© SYSTEM RESEARCH CO.,LTD.

Contents
Company Profile
FY3/24 Results
FY3/25 Forecasts
Medium-Term Management
Plan
Sustainability
Solutions
References
Head office building, front entrance (Iwatsukahontori, Nakamura-ku, Nagoya)© SYSTEM RESEARCH CO.,LTD.

1

Contents
Company Profile
FY3/24 Results
FY3/25 Forecasts
Medium-Term Management
Plan
Sustainability
Solutions
References
Head office building (Iwatsukahontori, Nakamura-Ku, Nagoya)© SYSTEM RESEARCH CO.,LTD.

2

Company Profile
EstablishedMarch 1981

Listed stock
exchange

TSE Prime

Representative

Toshiyuki Yamada, Representative Director and Chairman
Hiroshi Hirayama, Representative Director and President

Capital* Listed on the First Section of the Tokyo Stock Exchange in December 2016

550.15 million yen

Number of
employees(Consolidated)

1,572 Average age: 33.3

Consolidated
subsidiaries

Sowel Co., Ltd.

Major
shareholders

Toshiyuki Yamada (16.36%)(As of April 1, 2024)

The Master Trust Bank of Japan, Ltd. (8.89%)(As of March 31, 2024)* The Company implemented a 2-for-1 split of its common stock on April 1, 2024.

© SYSTEM RESEARCH CO.,LTD.

3

Corporate VisionCorporate
VisionAn IT Partner that is Close to Your BusinessBecome professionals who customers can rely onRefine our area of expertise and create new value, with technologies we can be proud ofGrow through work and feel that we are contributing to society and playing an active role

© SYSTEM RESEARCH CO.,LTD.

4

Branches and Sales Locations
Number of employees (Consolidated): 1,572
Number of employees (Non-consolidated): 1,551
Sowel Co., Ltd.: 21Mainlocations

Sales
network(As of April 1, 2024)

Osaka Branch
212

Tokyo Branch
387

Nagoya Head
Office952© SYSTEM RESEARCH CO.,LTD.

5

Contents
Company Profile
FY3/24 Results
FY3/25 Forecasts
Medium-Term Management
Plan

An IT Partner that is Close to Your
Business
Our mission is to contribute to our customers'
business through solutions.
We aim to be close to our customers' business.
To do that, the most important thing is to have a goodunderstanding of our customers.
Going forward, we will continue to work together asan IT partner that our customers trust and choose, andwork to live up to that trust.

Sustainability
Solutions
References© SYSTEM RESEARCH CO.,LTD.

6

Summary of FY3/24 Results (Consolidated)(Million yen)

Net sales increased by 8.1% year on year, setting a new record.
We also achieved record operating profit and ordinary profit.

Net sales
Gross profit
Operating profit
Ordinary profit
Profit attributableto owners of parent

Percentage of net sales (%)

Percentage of net sales (%)

FY3/23

FY3/24

Full year(April 2022 – March 2023)

Full year(April 2023 – March 2024)

YoY changes

21,55623,320

22.3%

22.9%

4,815

5,357

11.6%

11.5%

2,501

2,703

11.6%

11.8%

2,515

2,768

7.4%

8.4%

1,601

© SYSTEM RESEARCH CO.,LTD.

1,969

+8.1%
+11.2%+8.0%+10.0%+22.9%
7

FY3/24 Sales by Category(Million yen)

Business
description

SI service

Sales fields

SI services

FY3/23Full year

FY3/24
Full year

Net sales

Net sales

8,220

Changes

Increased orders forcontract-based projects

9,179 +11.6%
Securing repeat orders

12,393

13,133+5.9%

Software products

343

355

+3.2%

Softwareproducts

Merchandise sales

363

380

+4.7%

Softwareproducts

Web services, etc.

234

272 +15.9%

SI service

Software development

Softwareproducts

Total

21,55623,320© SYSTEM RESEARCH CO.,LTD.

+8.1%

Increased sales of
packaged software andeffect of introduction of
the Qualified Invoice
SystemIncreased amount of
distribution due to theeffect of special
advertising expenses

8

FY3/24 Top Sales Ranking(Million yen)

Customer

FY3/24 full year
Sales amounts

Component
ratio

TOYOTA SYSTEMS CORPORATION (Subsidiary of Toyota Corporation)*

3,742

16.0%

SCSK Corporation

1,603

6.8%

Toyota Tsusho Group (Subsidiary of Toyota Tsusho Corporation)*

1,262

5.4%

Fujitsu Limited

1,141

4.8%

Toyota Industries Corporation*

1,033

4.4%

Hitachi, Ltd.

910

3.9%

BUSINESS BRAIN SHOWA-OTA INC.

608

2.6%

KOBELCO SYSTEMS CORPORATION (Subsidiary of Kobe Steel, Ltd.)

608

2.6%

IBM Japan, Ltd.

489

2.1%

Yamato Transport Group

440

1.8%

11,47949.2%

23,320100%

Other: NGK INSULATORS, LTD., Daido Steel Co., Ltd., Daifuku Co., Ltd., NIPPON EXPRESS,TOPPAN Inc., KAGOME CO.,LTD., MEIKO TRANS CO.,LTD., DUSKIN CO., LTD.,KEYENCE CORPORATION

Total* Toyota Group

Around 30% of gross sales were to the Toyota Group.
© SYSTEM RESEARCH CO.,LTD.

9

Net Sales (Consolidated)(Million yen)

25,00020,00015,000

Despite a slight decrease in
FY3/21 due to the impact of thepandemic, sales recovered in
FY3/22.

21,556
18,405

16,25016,158

FY3/202020年３月期

FY3/212021年３月期(+17.1%)

23,320(+8.1%)(+13.9%)(-0.5%)

10,0005,000

0FY3/22
2022年３月期© SYSTEM RESEARCH CO.,LTD.

FY3/23
2023年３月期

FY3/242024年３月期
10Operating Profit (Consolidated)(Million yen)

2,800
2800

2,703

2,400
2400

2,501

2,000
2000
1,600
1600

2,078
1,723

1200
1,200

(+20.3%)(+8.0%)(+32.6%)

1,567(-9.0%)

800
400

0

2020年3月期
FY3/202021年3月期
FY3/212022年3月期
FY3/22© SYSTEM RESEARCH CO.,LTD.

2023年3月期
FY3/232024年3月期
FY3/2411

Recruitment (Non-consolidated)
New graduate recruitment for the past five years(Persons)

140

134

120
100
80

122

128

136

101

60
40
20
0

Joinedin 2020
2020年入社

Joinedin 20212021年入社

Joinedin 20222022年入社© SYSTEM RESEARCH CO.,LTD.

Joinedin 20232023年入社

Joinedin 2024
2024年入社

12

Contents
Company Profile
FY3/24 Results
FY3/25 Forecasts
Medium-Term Management
Plan
Sustainability
Solutions
References© SYSTEM RESEARCH CO.,LTD.

13

Outlook for the IT Industry
Outlook for theJapanese
economyThe Japanese economy will continue to recover,although moderately, in 2024.
Economic Outlook for 2024, Daiwa Institute of Research

The annual market size of the IT industry is 16,991.9 billion yen(2023).
Ministry of Economy, Trade and Industry’s Specific Service Industry Statistics
Outlook for IT
industry

IT spending growth rate is expected to remain strong, increasing
6.1% in 2024 and 6.0% in 2025, on the back of the recovery ofDomestic IT Market Forecast, IDC Japan
corporate earnings.
 Continuation of DX-related investments
 Expansion of the generative AI market
 Renewal of legacy systems at large companies

Industry
concerns

Shortage of engineers is becoming more serious(2025 digital cliff problem) Expected shortage of around 790,000 people by 2030
 We are heading toward an era in which higher quality engineers andvendors will be required© SYSTEM RESEARCH CO.,LTD.

14

FY3/25 Basic Policy (45th fiscal year)

ONE LEVEL UP! !
Go up one step from 10% to 15%
 Sales:+10% YoY  +15% YoY

 Operating profit margin:
Maintain 10% or higher  15% or higher
 New graduate recruitment rate:
10% of all employees  around 15%© SYSTEM RESEARCH CO.,LTD.

15

FY3/25 Results Forecast (Consolidated)(Million yen)

[Full year]

FY3/24
Results

FY3/25
Forecast

YoY changes

Net sales

23,32026,7183,398+14.5%

Operating profit

2,703

3,084

380

+14.0%

Ordinary profit

2,768

3,114

346

+12.4%

Profit attributable toowners of parent

1,969

2,198

229

+11.6%© SYSTEM RESEARCH CO.,LTD.

16

Shareholder Returns
In terms of dividend payouts to shareholders, in order to ensure that our sharesare held in a long-term and stable manner, we intend to maintain stable dividends.
To increase distributions to shareholders, we are targeting a dividend payout ratioof 40%.
FY3/22

FY3/23

FY3/24

FY3/25
Forecast

EPS (Earnings per share)

89.26 yen95.80 yen

117.81 yen

131.53 yen

ROE (Return on equity)

19.55%

18.57%

20.06%

19.54%

Dividend per share

60.0 yen

70.0 yen

80.0 yen

40.0 yen* The Company implemented a 2-for-1 split of its common stock on April 1, 2024. EPS was
calculated on the assumption that a share split occurred at the beginning of FY3/22.
* Dividends for FY3/24 are scheduled to be 80 yen per share, based on the number of shares
before the share split, given that the effective date of the share split is April 1.

© SYSTEM RESEARCH CO.,LTD.

17

Contents
Company Profile
FY3/24 Results
FY3/25 Forecasts
Medium-Term Management
Plan
Sustainability
Solutions
References© SYSTEM RESEARCH CO.,LTD.

18

Medium- and Long-term Targets
Long-term target
100 billion yen

Plan for 46th term
(FY3/26)
30 billion yen

35th term (FY3/15)
10 billion yen

Medium-term target
50 billion yen

40th term (FY3/20)
15 billion yen

Sales

100 billion yen

Profit3,000
Employees

TSE Prime
Tokyo stock exchange, 1stSection© SYSTEM RESEARCH CO.,LTD.

19

Next Vision 50th
With Next Vision 50th, we aim to secure continuous profits, enhance corporate value, and create
employment opportunities, while taking into account changes in the external environment(economic conditions and technological innovations).
Expansion and increased
sophistication of core businesses

System Research

Five Initiatives

In addition to the Chubu region, we aim to acquire
good customers in the Kanto and Kansai markets,and increase our business specialization andsolutions in our area of expertise.

Deepen employee engagement

Take on thechallenge ofcreating nextgeneration
businesses

Share our management philosophy andvision, increase the sense of solidarity
among employees, build a system for thecompany and employees to grow together,and drive forward together.

Utilize know-how and knowledge cultivated inour core businesses to take on the challenges ofcreating new businesses that can become corebusinesses for our next generation.

Strength human capital and back-office
operations

Drive internal digital transformation (DX), enhance
security, and improve governance.
Back up the organization's expansion by enhancing
our branding and recruitment.

© SYSTEM RESEARCH CO.,LTD.

Design engineering capabilities
that utilize digital technologies
to solve social and management
issues.

Technologicalcapabilities tocreate new
value

20

Medium-Term (3-year) Management Plan

(Consolidated Net Sales and Consolidated Operating Profit)(Million yen)

(Million yen)

33,97435,0006,000

30,05730,00025,00026,71821,5565,000

23,3204,000

20,00015,0002,703

10,000

3,084

3,453

3,921

2,000

2,501

1,000

5,000
0

3,000

FY3/23

FY3/24
売上高
Net sales

営業利益
Operating profit

FY3/25(Plan)© SYSTEM RESEARCH CO.,LTD.

FY3/26(Forecast)

FY3/27(Forecast)

021Medium-Term (3-year) Management Plan
(Consolidated Employees)(Persons)

2,000

2400
2,400
2200
2,200

1,850

2,000
2000

1,700

1800
1,800
1600
1,600

1,488

1,572

1,400
1400
1,200
1200
1,000
1000
800
800

600
600
400
400

200
200
0

April 2023
2023年04月

April 2024
2024年04月

April
2025
2025年4月(Plan)（計画）© SYSTEM RESEARCH CO.,LTD.

April
2026
2026年4月(Plan)
（計画）

April
2027
2027年4月(Plan)（計画）

22

Contents
Company Profile
FY3/24 Results
FY3/25 Forecasts
Medium-Term Management
Plan
Sustainability
Solutions
References© SYSTEM RESEARCH CO.,LTD.

23

Sustainability Initiatives
Encourage diversity and inclusion

Health and productivity management initiatives

Relationship with the SDGs (focus goals)

Relationship with the SDGs (focus goals)

Main Initiatives

Main Initiatives

Promote active participation of diverse individuals(women, persons with disabilities, LGBT, seniors, etc.)
Reform corporate culture and foster awareness to
support long-term career development for employees
Plan and implement career training

Promote diverse working styles and work-life balanceContinue the Good Job Challenge (curbing long working hours
and increasing the rate of paid leave taken)
Mental health education

Technology support in the DX era

Initiatives for creating safe, secure, and enriched
lifestyles

Relationship with the SDGs (focus goals)

Main Initiatives

Relationship with the SDGs (focus goals)

Take on the challenge of creating added value using DX
technologies
Develop DX engineers
Promote PM development curriculum

Main Initiatives

Strengthen PRM (Project Risk Management) activities
Information security, protection of personal protection, and legal
compliance
Reduce the environmental burdens (promotion of energy conservation)
Ensure a comfortable working environment and respect human rights(signing the UN Global Compact)© SYSTEM RESEARCH CO.,LTD.

24

Results of Initiatives in Numbers (as of March 31, 2024)
Percentage of female
employees in management
positions

Percentage of female
employees in continuous
employment

8.9%

95.5%

Target 7.0%

Target 80.0%

Average monthly overtime

Ratio of employees who
took paid leave

Turnover rate

14.2 hours

82.4%

6.7%

Decrease of 1.2 hours
year on year

Increase of 2.3%
year on year

Industry average 11.9%

Percentage of employees
taking childcare leave

Female 100%
Male 66%

Percentage of male employees
taking childcare leave (17.1%)(Research by the Ministry of Health, Labour andWelfare in 2022)(Research by the Ministry of Health, Labour andWelfare in 2022)

Certified as 2024 Health & Productivity Management
Outstanding Organization (Large Enterprise Category)© SYSTEM RESEARCH CO.,LTD.

25

ＤＸ, Environmental and Information Security Initiatives
Information security initiatives

DX initiatives
Received iCD Company
Certification Gold★★
certification

Received DX Certified Business
Operator certification
16.35

Digital Transformation
15.36
Certification

15.41

Obtained Information Security
Management System
74.1

Environmental initiatives
FY3/23
Total CO2 emissions*

Scope 1*1

6.5 tons

Scope 2*2

127.1 tons

80.1

Scope of registration:
Design, development, introduction, operation, monitoring,
proposal, and maintenance services of contracted systems,
management of stationed and dispatched personnel (SEservice business), product development, maintenanceservice business, and web service business.

Greenhouse gas emissions
Category

77.1

Acquired Privacy Mark57.1
* CO2 emissions are measured for the entire Group.

Registration number: 19001186*1 Scope 1: Direct emissions of greenhouse gases by the Company*2 Scope 2: Indirect emissions from the use of electricity, heat, and steam, etc.,
supplied by other companies© SYSTEM RESEARCH CO.,LTD.

26

Contents
Company Profile
FY3/24 Results
FY3/25 Forecasts
Medium-Term Management
Plan
Sustainability
Solutions
References© SYSTEM RESEARCH CO.,LTD.

27

Business Description
We provide optimal services to customers in a wide range ofindustries, as an IT partner that is close to customers' businesses.

EC
Operations packages
CRM/CTI

SI service

RPA
AI
Consulting

Documents

ICT

BI and data analysis

ERP

Assessment services

Low-code development
Automotives
Logistics
Distribution
Plant and production
line control
Telecommunications
and control© SYSTEM RESEARCH CO.,LTD.

28

SI Service and Software Development
We face up to customer management issues and provide services that satisfy them,using the know-how and advanced technologies that we have cultivated.
Automotives

Logistics

Distribution

Telecommunications and control

Plant and production line control

ICT base

Consulting

ERP

Low-code development© SYSTEM RESEARCH CO.,LTD.

29

Products and Services
Rather than simply selling goods, we sell added value and services.
We propose total solutions to meet the needs of our customers.

© SYSTEM RESEARCH CO.,LTD.

30

Easy My Shop
QR codeE-commerce Support
Online store creation and operation web service

Easy My Shop

Creator's Mall
ALULU QR Code

A shopping promotion site where you can encounter works
instilled with the passions of creators

Creator's Mall ALULU

410,000

 Easily create an online store the way you want

Approx.
works
created by creators

 A total of 30,000 stores Bundle sales, custom-made products, dynamic pricing,
subscription support, and many other unique features

Acts as a bridge

between creators andconsumers© SYSTEM RESEARCH CO.,LTD.

Encounter
Care about who you
buy from

wonderfulproducts

31

ilii Solutions
Leveraging know-how accumulated over more than 40 years ofexperience in business software development, we have introduced
software to many customers, from back-office systems such as financeand payroll to front-end systems such as CTI and mail order.

Compatible with the invoice system and theElectronic Books Maintenance Act
Mail order / shopping
Sales management and CRM for mailorder businessCTI & call center
Add-on CTI

CRM
Cloud-based CRM

BIG series
On-premises customer management

B-to-B sales management

Management from payroll to year-end
tax adjustment

Management from journal entry to
account settlement© SYSTEM RESEARCH CO.,LTD.

32

AI Solution

Document Solution

The Spirit of Revolution
Image recognition

Paperless solutions

RPA
Digitalizing large amounts of paper-based documentationand input work

AI support for visual product inspection andsorting operations

Paperless digitalization

Existing form templates such as
handwritten daily work reports
and purchase orders can bedigitalized and made paperlessin their existing form.
Tablet-based input is also
possible.

MODEWO: 3 features

AI-based image recognition

The system provides amechanism for image
recognition using AI-based deeplearning.

Simple user interface

Users can build and tune the AI(the brain of the system)themselves using a simple userinterface.

Device free(non-device-dependent)

Users can flexibly choose
the device used for image
recognition.

© SYSTEM RESEARCH CO.,LTD.

System integration

New systems can be linked withexisting mission-critical systems
and databases. It is also possible
to import daily reports entered in
the field into mission-criticalsystems.

High recognition accuracy

The system boasts overwhelming
accuracy in converting handwritten
characters into text, since it
recognizes not only the shape ofcharacters but also stroke order,
and the contextual relationshipbetween the characters before andafter them.

Attach and write in photos

Users can freely paste photos
and write handwritten notes on
the form displayed on a tablet or
smartphone.

33

Other Solutions

The Spirit of Revolution

Document solutions

RPA

BI

Operations packages

Development platform"FLEXSCHE" is a registered trademark of FLEXSCHE Corporation.
"WinActor®" is a registered trademark of NTT Advanced Technology Corporation.

© SYSTEM RESEARCH CO.,LTD.

34

Contents
Company Profile
FY3/24 Results
FY3/25 Forecasts
Medium-Term Management
Plan
Sustainability
Solutions
References© SYSTEM RESEARCH CO.,LTD.

35

Appendix (1) History (Non-consolidated Net Sales)(Million yen)
25,0002023
Merger with General Software, Inc.
2022
Made General Software, Inc. a
consolidated subsidiary

20,0002016
Changed to the 2nd Section of the Tokyo Stock Exchange
Listed on the 1st Section of the Tokyo Stock Exchange

2022
Shifted to the TSE Prime
Market2012
Established
Sowel Co., Ltd.

15,0002014
Merger withILII Corporation

2006
Made ILII Corporation a
consolidated subsidiary

10,0002005
Listed on JASDAQ

5,000

1987
Established Osaka
Branch1989
Established Tokyo
Branch1981
Established
0

1985

1990

1995

2000

2005

© SYSTEM RESEARCH CO.,LTD.

2010

2015

2020

36

Appendix (2) Consolidated Statements of Income
FY3/24
Item(Million yen)

Non-consolidated
AmountConsolidated

Percentage

AmountPercentage

Net sales

23,280100.0%

23,320100.0%

Cost of sales

17,89776.8%

17,96277.0%

Gross profit

5,382

23.1%

5,357

22.9%

Selling, general andadministrative expenses

2,686

11.5%

2,653

11.3%

Operating profit

2,695

11.5%

2,703

11.5%

Ordinary profit

2,751

11.8%

2,768

11.8%

Profit

1,910

8.2%

1,969

8.4%

© SYSTEM RESEARCH CO.,LTD.

37

Appendix (3) Consolidated Balance Sheets
FY3/24
Item

AmountAmount(Nonconsolidated)(Consolidated)(Million yen)Account item

AmountAmount(Nonconsolidated)(Consolidated)

Cash and deposits

8,259

8,326

Accounts payabletrade

1,087

945

Accounts receivabletrade and contract
assets

4,579

4,585

Short-term interestbearing debt

780

780

424

428

2,659

2,806

661

661

10,476

10,52416,08816,145Inventories

8

8 Income taxes payable

Other current assets

68

68

Property, plant andequipment

2,024

2,025

Intangible assets

351

348

Investments and otherassets797

783 Net assets

Total assets

16,08816,145

Other current
liabilities
Long-term interestbearing debt

Total liabilities and net
assets© SYSTEM RESEARCH CO.,LTD.

38

Appendix (4) Consolidated Cash Flows(Million yen)

3,000
3000
2,500
2500
2,000
2000

 Comparison with previous fiscal years(full year results)

2,458
1,796

Cash flows from operating activities

Net cash provided by operating activities increased
by 661 million yen year on year, due to an increase inprofit before income taxes and other reasons.

1500
1,500
1000
1,000

Cash flows from investing activities

500

Net cash used in investing activities increased by 653
million yen year on year due to expenses relating to
the acquisition of property, plant and equipment
assets (Development Center No. 1).

0
-500

-273

-1000
-1,000-1500-1,500

-546

-501
-926

FY3/23
2023年3月期

Operating
営業活動
activities

FY3/242024年3月期

Investing
投資活動
activities

Cash flows from financing activities

Net cash used in financing activities increased by 45
million yen year on year due to an increase individend payments, and other reasons.

Financing
財務活動
activities© SYSTEM RESEARCH CO.,LTD.

39

Appendix (5) Medium-Term (3-year) Management Plan
(Consolidated)(Million yen)

Item

FY3/25 (plan)

FY3/26 (forecast)

FY3/27 (forecast)

Net sales

26,71830,05733,974

Operating profit

3,084

3,453

3,921

Ordinary profit

3,114

3,480

3,947

Profit

2,198

2,414

2,738

Operation category

FY3/25 (plan)

FY3/26 (forecast)

FY3/27 (forecast)

SI services

10,917

11,917

12,944

Software development

14,584

16,71919,467

Software products

429

583

639

Merchandise sales

348

353

384

Other

438

483

538

Total

26,71830,05733,974© SYSTEM RESEARCH CO.,LTD.

40

Appendix (6) Business Activities of Subsidiaries
Business of Special Subsidiary Sowel Co., Ltd.
Address:
6-52-18 Imajuku, Ogaki-shi, Gifu
Investment ratio: SYSTEM RESEARCH CO., LTD. 75%,
Weltechnos Co., Ltd. 25%
Purpose- Providing opportunities for people with disabilities, to support their
independence and enjoy life
- One aspect of the Group's corporate social contributions- Fulfilling our obligation to employ persons with disabilities

Sowel website
QR codeSowel's main development achievements
System development■ Development and maintenance ofcorporate in-house operational
management systems■ IoT system development■ Social infrastructure and control
systems

App development■ Groupware apps
■ Business card management apps
■ E-commerce site and cart apps

© SYSTEM RESEARCH CO.,LTD.

Web solutions■ Site management and server
maintenance■ Security log checks■ Software testing support■ Web conferencing introductory
support■ Document PDF conversion

41

An IT Partner that is Closeto Your Business* Note pertaining to this data:••••

The purpose of these materials is to provide information about the Group's financial results
and business strategies. They are not intended to solicit any purchase or sale of shares of
the Company's stock.
The forward-looking statements of the Group described in these materials are based on
current information, and are subject to change due to various uncertainties inherent inforecasts, and future changes in the state of business operations.
No unauthorized reproduction, duplication or forwarding of this material is permitted,
irrespective of the purpose.
Company and product names appearing in this release are trademarks or registeredtrademarks of their respective owners.

* Contact Information
Public Relations Office, SYSTEM RESEARCH CO., LTD.
2-12 Iwatsukahontori, Nakamura-ku, Nagoya-shi, Aichi 453-0861
TEL: +81-52-413-6820 Website: https://www.sr-net.co.jp/ir/ E-mail: ircontact@sr-net.co.jp© SYSTEM RESEARCH CO.,LTD.

IR information E-maildistribution service
https://rims.tr.mufg.jp/? sn=3771