同社は、1991年に兵庫県神戸市でソフトウェア開発会社として設立された。その後一貫してGIS及びその周辺領域で技術力を磨いてきた。GISエンジンソフトのライセンス販売や受託開発を長年にわたり事業の柱としてきたが、近年はクラウドサービスで業績を伸ばしており、特に「NET119緊急通報システム」が全国の消防で採用され、業績に貢献している。また、自治体における災害情報共有サービス「DMaCS」や次期主力商品である消防機関向けの映像通報システム「Live119」も業績を伸ばしている。直近まで9期連続の増収増益や、営業利益率33.6%（過去3期平均）などが示すように、安定成長と収益性が際立っている。2002年に大阪証券取引所ナスダック・ジャパン市場に株式上場し、2022年4月の東京証券取引所（以下、東証）再編においては、スタンダード市場に移行した。2024年7月には、エッジAI技術を所有するtiwakiと資本業務提携を行った。Company Overview
1. Company Overview
Dawn Co., Ltd. is a company that plays an important role in supporting a safe and secure society by achieving DX in police, fire department, local government disaster prevention, and social infrastructure maintenance with its own cloud solution. It has a reputation for systems that require reliability, with a track record of adoption by central government agencies, local governments, and power companies. In the medium-term management plan, it aims to be an 'essential company' that challenges social issues and creates new value.
The company was established in Kobe, Hyogo Prefecture, in 1991 as a software development company. Since then, it has consistently honed its technological expertise in GIS and its peripheral areas. While the licensing and commissioned development of GIS engine software has been a pillar of its business for many years, in recent years it has expanded its business performance through its cloud services. In particular, the 'NET119 emergency reporting system' has been adopted by fire departments nationwide and has contributed to its business performance. The disaster information sharing service 'DMaCS' for local governments and the video reporting system 'Live119' for fire departments, which are also its leading products, have contributed to its business performance. As demonstrated by its recent nine consecutive years of increased revenue and profit and an operating margin of 33.6% (average of the past three years), it has outstanding stability and profitability. Listed on the NASDAQ Japan market of the Osaka Securities Exchange in 2002, it transferred to the Standard Market of the Tokyo Stock Exchange (TSE) in the reorganization of the TSE in April 2022. In July 2024, it formed a capital business alliance with tiwaki, which owns Edge AI technology.
2. Business content
The business is classified into four categories: 1) cloud usage fees, 2) commissioned development, 3) license sales, and 4) product sales revenue. 1) Cloud usage fees are revenues from information delivery services such as spatial-IT, and the company also operates the servers. It is a stock-type business that can generate stable income over the medium to long term (3-10 years). It was launched in 2005 and is currently the company's largest segment, accounting for 50.7% of the sales composition ratio in the fiscal year ending May 2024. The broad sales of cloud services, including initial construction revenues for cloud services (categorized as commissioned development), exceed 70% (annual basis). Cloud services are expected to continue to leap forward, with a focus on local governments, among others. 2) Commissioned development includes commissioned development and consulting of GIS systems specialized for local governments and power companies, including customization development at the time of cloud service introduction (approximately 50%). It is one of the pillars of the business, accounting for 42.5% of total sales (same period). 3) License sales are a business that develops and sells basic software for GIS construction, 'GeoBase/GeoBase.NET.' It was a main business at the time of establishment, but now accounts for 5.2% of total sales (same period). 4) Product sales revenue is revenue from the sale of digital maps, etc. that are sold in conjunction with commissioned development.
(Written by FISCO Guest Analyst, Hideo Kakuta)
