Japan Technology: IT Services: Accenture results read-across: Orders soften amid geopolitical headwinds; AI business expands

Research evidence excerpt

Japan Technology: IT Services: Accenture results read-across: Orders soften amid geopolitical headwinds; AI business expands

Equity Research

19 June 2026 | 1:01AM JST

Japan Technology: IT Services: Accenture results read-across: Orders

soften amid geopolitical headwinds; AI business expands

IT services major Accenture (Buy, covered by US Telecom/IT Services analyst James Chikai Tanaka, CFA

+81(3)4587-9840 |

Schneider) announced 3Q8/26 (March-May) results at 20:00 JST (07:00 US local chikai.tanaka@gs.com

Goldman Sachs Japan Co., Ltd.

time) on June 18, followed by a conference call at 21:00 JST. 3Q sales were mostly in

Yuki Sato

line with consensus, but 3Q orders turned down amid effects from the Middle East +81(3)4587-8536 | yuki.z.sato@gs.com

situation, and the company noted the potential for the negative impact from the Goldman Sachs Japan Co., Ltd.

Middle East could worsen in 4Q compared with 3Q. Based on its progress to date and

other factors, management made slight revisions to its full-year sales guidance,

lowering the upper end and midpoint of its forecast range. Although the situation is

driven by impacts stemming from geopolitics rather than AI disruption, it could

prolong weak investor sentiment toward system integrators. At the same time,

corporate appetite for AI investment is robust, and AI-related business is expanding,

centered on support for AI implementation, consulting on AI-led business

transformation, data infrastructure, and security. In terms of read-across for the

Japanese IT Services sector, based on our industry research, while the Middle East

situation has had a limited impact on IT services demand in Japan, we see this as a

slight headwind for NTT (Buy), given its subsidiary NTT Data’s high overseas revenue