IT & Software: AX Driving Growth Prospects, Margin Expansion: OW NEC, Fujitsu, NRI, OTSUKA, OBC

研报英文原文证据摘录

IT & Software: AX Driving Growth Prospects, Margin Expansion: OW NEC, Fujitsu, NRI, OTSUKA, OBC

FoundationM

NSSOL (2327): UW, PT ¥3,000

Investment Thesis Catalysts AI Initiatives

• By capturing DX demand centered on the • Quarterly Earnings: Confirmation of consolidated • Provides support for generative AI utilization,

manufacturing sector, the company aims to revenue and operating profit (OP), revenue covering everything from operational efficiency

achieve stable mid-term revenue growth and growth rate, and expectations for margin improvements to revenue contribution.

market expansion while expanding across a wide expansion • NSDevia integrates development processes using

range of industries as the core IT arm of the • Quarterly Earnings: Progress in order intake and AI, achieving both reduced man-hours and

Nippon Steel Group. order backlog accumulation improved quality.

• It is transitioning to a TAM-based model, moving • Quarterly Earnings: Updates on the TAM-based • Generative AI adoption is expanding across

away from labor-hour dependency, and driving business model multiple industries, including finance, retail, and

evolution toward a high value-added business • Quarterly Earnings: Progress on the mid-term manufacturing.

structure through the use of generative AI, asset management plan

reuse, and platform-based offerings. • Developments related to activist investors and

• Through the expansion of high value-added changes in Nippon Steel’s ownership stake in the

projects and productivity improvement initiatives, company

the company seeks to enhance profitability and, • Generative AI Initiatives: Can the company present

via a transformation of its revenue model, aims to quantitative targets?

achieve a high-margin structure with an operating