ird quarter of 2025 compared to ￥92.5 million, or 96.0% of total revenue, for the same period last year.

Annualized Recurring Revenue was ￥391.0 million for the third quarter of 2025, a decrease of 2.6% compared to ￥401.5 million for the same period last year; excluding the wind down of support services for Oracle’s PeopleSoft software products, Annualized Recurring Revenue was ￥373.7 million for the third quarter of 2025, an increase of 1.0% compared to ￥370.1 million for the same period last year.

Active Clients as of September 30, 2025 were 3,155, an increase of 1.9% compared to 3,097 Active Clients as of September 30, 2024.

Revenue Retention Rate was 89% for each of the trailing twelve months ended September 30, 2025 and September 30, 2024, respectively.

Calculated Billings was ￥66.5 million for the third quarter of 2025, an increase of 2.0% compared to ￥65.2 million for the same period last year.

Adjusted Calculated
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