To shareholders and investors

Our company has been built as a leading Japanese cybersecurity company since 2013, when we launched our Cloud-based WAF service, "Shadankun" based on the philosophy of "creating a safe and secure cyberspace for people all over the world." Since listing on the Tokyo Stock Exchange Growth Market in March 2020, we have expanded our business base with web security at our core, and have grown to offer a wide range of services, including "Shadankun," "WafCharm," "CSC Managed Rules for AWS WAF," "SIDfm," "Vulnerability Assessment," "CloudFastener," "webtru," and "Bunsin." As of March 2026, we are used by more than 6,900 customers in over 100 countries worldwide, and as a Japanese security manufacturer, we are steadily increasing our global presence. We are deeply grateful to all our stakeholders, including our shareholders and investors, for their warm support, which has made this possible.

The ever-expanding cybersecurity market and increasingly sophisticated threats
The cybersecurity market in which our company operates is in a phase of structural growth. As companies increasingly utilize cloud computing and the use of AI in web services and applications rapidly progresses, businesses are becoming more digitally dependent than ever before. On the other hand, cyberattacks that exploit AI are becoming more sophisticated and automated, with a series of state-sponsored targeted attacks and breaches via supply chains. Cybersecurity measures are no longer just an issue for IT departments, but a top priority for corporate management.

From "WAF No. 1" to "Application Security No. 1"
Seizing this shift in the business environment as an opportunity, our company has evolved from "a company that provides WAFs" to "a company that comprehensively solves the diverse security challenges of all companies that deploy web services and applications." The source of our competitive advantage lies in our unique technological foundation that combines AI with world-class cyber threat intelligence, and the vast amount of attack data accumulated from operational experience in over 100 countries worldwide. This depth of knowledge is the basis for our ability to always stay ahead of ever-changing cyber threats.
We have also made steady progress in expanding our business foundation. In December 2020, we strengthened our vulnerability management and diagnostic capabilities by acquiring Softech Co., Ltd. as a subsidiary (later absorbed by it). In October 2024, we established Generative Technology Co., Ltd., which will be responsible for cloud development and operation support. In February 2025, we acquired DataSign Co., Ltd. as a subsidiary, establishing a system for providing integrated security solutions, including data privacy management. We are steadily solidifying our position as a comprehensive security partner, going beyond simply providing individual products.

The growth path outlined in the medium-term management plan: To achieve sales of 20 billion yen and operating profit of 4 billion yen by FY30.
In our medium-term management plan announced in February 2026, we set management targets of achieving sales of 20 billion yen and operating profit of 4 billion yen by FY30 (fiscal year ending March 2030). These targets are not merely numerical targets, but rather a manifestation of our unwavering determination to transform a Japanese cybersecurity company into one with a true presence in the global market. We will achieve both the realization of our founding philosophy of "a cyberspace that can be used safely and securely by people all over the world" and sustainable business growth, thereby establishing a solid position in the global cybersecurity market.

Aiming for a long-term partnership with our shareholders and investors.
Our company places constructive dialogue with shareholders and investors, as well as timely and appropriate information disclosure, at the core of our corporate management. We will build long-term relationships of trust with you by honestly explaining our progress toward achieving the goals of our medium-term management plan and by continuing highly transparent investor relations activities.
We pledge to continue contributing to the resolution of social issues by remaining at the forefront of cybersecurity, and to remain a company that continuously enhances long-term corporate value for our shareholders and investors. We sincerely ask for your continued support and encouragement.