Industry map/IT, Telecom & Internet
Cybersecurity industry map
Who earns the money in Cybersecurity, and who keeps it. When a company spans several industries, only the relevant segment is counted.
FY2025 · 45 companies · ¥913.7B
Industry map
Companies ordered by revenue, connected by ownership (major shareholders). Arrows point from the shareholder to the investee.
- Industry size (revenue)
- ¥913.7B
- Companies
- 45
- Avg. salary（parent only）
- ¥6.9M
- Industry weather
- Sunny
YoY +7.3%
Avg. age 39.5
Operating income +19.7%
Trend Micro[4704]
Japan + 3 more
- Revenue
- ¥276B▲1.2%
- Operating income
- ¥57B▲18.0%
Margin 20.7%
Whole company: Revenue ¥276B · Net income ¥34.5B
Avg. salary ¥9.9M · 40.3（parent only）
Macnica Holdings[3132]
Cybersecurity and Other IT Solutions Business
- Revenue
- ¥174.2B▲13.1%
- Operating income
- ¥17.2B▲29.2%
Margin 9.9%
Whole company: Revenue ¥1.21T · Net income ¥27.8B
Avg. salary ¥16.3M · 50.3（parent only）
Secom[9735]
BPO & ICT
- Revenue
- ¥129.9B▲1.1%
- Operating income
- ¥8.99B▼1.9%
Margin 6.9%
Whole company: Revenue ¥1.26T · Net income ¥112.7B
Avg. salary ¥6.7M · 44.5（parent only）
Techmatrix[3762]
Information infrastructure
- Revenue
- ¥51.6B▲13.2%
- Operating income
- ¥6.58B▲24.9%
Margin 12.7%
Whole company: Revenue ¥71.7B · Net income ¥5.18B
Avg. salary ¥8.5M · 38.0（parent only）
GMO internet group[9449]
Internet securities
- Revenue
- ¥21.4B
- Operating income
- ¥1.35B
Margin 6.3%
Whole company: Revenue ¥285.3B · Net income ¥16.7B
Avg. salary ¥8.4M · 39.0（parent only）
GMO GlobalSign Holdings[3788]
Digital Certificate and eSignature
- Revenue
- ¥12.8B▲7.6%
- Operating income
- ¥1.34B▲16.7%
Margin 10.5%
Whole company: Revenue ¥20.7B · Net income ¥1.01B
Avg. salary ¥6.2M · 40.8（parent only）
- GMO internet group owns 52.0%
Soliton Systems[3040]
ITsecurity BU
- Revenue
- ¥18.5B▲5.9%
- Operating income
- ¥3.72B▲17.3%
Margin 20.1%
Whole company: Revenue ¥19.8B · Net income ¥2.3B
Avg. salary ¥6.8M · 43.0（parent only）
No.1[3562]
- Revenue
- ¥17.5B▲23.4%
- Operating income
- ¥1.33B▲28.1%
Margin 7.6%
Avg. salary ¥5.5M · 35.1（parent only）
Ascentech[3565]
- Revenue
- ¥17.3B▲18.3%
- Operating income
- ¥2.84B▲227.3%
Margin 16.5%
Avg. salary ¥6.3M · 39.6（parent only）
Softcreate Holdings[3371]
It solution business
- Revenue
- ¥16.3B▲13.7%
- Operating income
- ¥3.23B▲7.8%
Margin 19.8%
Whole company: Revenue ¥34.4B · Net income ¥4.17B
Avg. salary ¥6.9M · 35.6（parent only）
Digital Hearts Holdings[3676]
AGEST Group
- Revenue
- ¥15.9B▼1.2%
- Operating income
- ¥380.6M▼22.1%
Margin 2.4%
Whole company: Revenue ¥38.9B · Net income ¥1.18B
Avg. salary ¥8M · 46.3（parent only）
Intelligent Wave[4847]
- Revenue
- ¥15.6B▲7.4%
- Operating income
- ¥1.85B▼9.0%
Margin 11.9%
Avg. salary ¥7.2M · 39.2（parent only）
※ Card revenue and operating income cover only the segment in this industry; “Whole company” shows consolidated revenue and net income.
Other companies: Computer Engineering & Consulting · Global Security Experts · Hennge · Digital Arts · Terilogy Holdings · Cybertrust Japan · Focus Systems · Toyo · Broadmedia · BroadBand Security · Amiya · Cyber Security Cloud · Fronteo · FFRI Security · i3 Systems · Asgent · Grcs · Fuva Brain · CyberSolutions · Tobila Systems · Eltes · Heroz · S&J · Caulis · VLC Security · Suncorporation · Accrete · SecuAvail · ZenmuTech · D.I.System · Nippon Techno LAB · Valtes Holdings · Cyberlinks
The weather is derived mechanically from year-over-year totals of revenue and operating income (both up = sunny, both down = rainy).
Industry takeaways
AI summary (figures come from filings)
- Macnica Holdings is the largest. Its cybersecurity and IT solutions business brought in ¥174.2B, 21% of the listed-company total.
- Trend Micro follows, led by its Japan segment at ¥87.8B, with its other regions close behind.
- Digital Arts runs a 44.2% operating margin and CyberSolutions 42.5%, while Macnica sits at 9.9% and Techmatrix at 12.7%.
- FFRI Security grew 54.1%; Trend Micro's Americas segment went the other way, down 6.2%.
Who earns the money
Area = revenue from businesses in this industry. Color = operating margin.
Who makes a profit
Across = revenue (log scale), up = operating margin, bubble size = operating income.
Ranking and momentum
| Rank | Company (business) | Revenue | Share | Op. margin | CAGR | FCF* |
|---|---|---|---|---|---|---|
| 1 | Trend MicroJapan + 3 more | ¥276B | 30.2% | 20.6% | +9.7% | ¥41.8B |
| 2 | Macnica HoldingsCybersecurity and Other IT Solutions Business | ¥174.2B | 19.1% | 9.9% | — | ¥15.8B |
| 3 | SecomBPO & ICT | ¥129.9B | 14.2% | 6.9% | +2.9% | ¥113B |
| 4 | TechmatrixInformation infrastructure | ¥51.6B | 5.6% | 12.8% | +20.2% | ¥11.9B |
| 5new | GMO internet groupInternet securities | ¥21.4B | 2.3% | 6.3% | — | ¥43.5B |
| 6▼1 | Soliton SystemsITsecurity BU | ¥18.5B | 2.0% | 20.1% | +3.2% | ¥3.38B |
| 7▲3 | No.1 | ¥17.5B | 1.9% | 7.6% | +5.9% | ¥431.2M |
| 8▼1 | Ascentech | ¥17.3B | 1.9% | 16.5% | — | ¥6.52B |
| 9 | Softcreate HoldingsIt solution business | ¥16.3B | 1.8% | 19.8% | +14.0% | ¥3.68B |
| 10▼4 | Digital Hearts HoldingsAGEST Group | ¥15.9B | 1.7% | 2.4% | — | ¥2.44B |
| 11▼3 | Intelligent Wave | ¥15.6B | 1.7% | 11.8% | +8.7% | ¥2.59B |
| 12▼1 | GMO GlobalSign HoldingsDigital Certificate and eSignature | ¥12.8B | 1.4% | 10.5% | +14.4% | ¥1.25B |
| 13 | Computer Engineering & ConsultingSolution Segment | ¥11.1B | 1.2% | 17.5% | — | ¥5.01B |
| 14 | Global Security Experts | ¥11B | 1.2% | 20.3% | — | ¥1.09B |
| 15▲1 | Hennge | ¥10.9B | 1.2% | 16.4% | +22.5% | ¥2.66B |
| 16▼4 | Digital Arts | ¥10.8B | 1.2% | 44.2% | +4.6% | ¥7.12B |
| 17▼2 | Terilogy Holdings | ¥10.6B | 1.2% | 5.2% | +23.3% | ¥1.41B |
| 18▲1 | Cybertrust Japan | ¥8.36B | 0.9% | 19.7% | +9.9% | ¥603.1M |
| 19▼2 | Focus SystemsInnovation | ¥8.14B | 0.9% | 13.8% | +3.7% | ¥2.41B |
| 20▼2 | ToyoInformation and Communications Technologies/Information Securities | ¥8.12B | 0.9% | 8.5% | — | ¥1.32B |
| 21 | BroadmediaTechnology Services | ¥6.24B | 0.7% | 14.5% | +14.0% | ¥493.1M |
| 22▼2 | BroadBand Security | ¥6.1B | 0.7% | 4.2% | +8.9% | ¥15.3M |
| 23 | AmiyaNetwork security business unit + 1 more | ¥5.94B | 0.6% | 34.2% | — | ¥1.26B |
| 24 | Cyber Security Cloud | ¥5.08B | 0.6% | 21.7% | — | — |
| 25▼3 | FronteoRisk management | ¥4.02B | 0.4% | 15.1% | — | -¥568.2M |
| 26▲4 | FFRI SecurityCyber Security | ¥3.99B | 0.4% | 35.9% | +28.0% | ¥1.29B |
| 27 | i3 SystemsCLOMO business | ¥3.63B | 0.4% | 25.6% | — | ¥772.5M |
| 28▼2 | Asgent | ¥3.43B | 0.4% | 4.3% | +2.0% | ¥86.4M |
| 29▼4 | Grcs | ¥3.33B | 0.4% | -2.0% | — | -¥77.2M |
| 30▲3 | Fuva BrainIT Tool Business | ¥3.22B | 0.4% | 9.3% | +32.5% | ¥214.8M |
| 31▼3 | CyberSolutions | ¥3.13B | 0.3% | 39.4% | +13.8% | ¥1.03B |
| 32 | Tobila SystemsSecurity business + 1 more | ¥2.81B | 0.3% | 53.1% | — | ¥1.62B |
| 33▼2 | EltesDigital Risk | ¥2.73B | 0.3% | 36.3% | +9.2% | -¥243.6M |
| 34▼5 | HerozAI Security business | ¥2.67B | 0.3% | 29.6% | — | -¥200.2M |
| 35▼1 | S&J | ¥2.33B | 0.3% | 23.8% | +22.1% | ¥527.6M |
| 36 | Caulis | ¥1.4B | 0.2% | 29.1% | +22.1% | ¥140.3M |
| 37▼2 | VLC Security | ¥1.37B | 0.1% | -28.4% | -8.3% | -¥430.2M |
| 38▼1 | SuncorporationGlobal Data Intelligence Division | ¥1.29B | 0.1% | 10.9% | — | ¥1.37B |
| 39▲4 | Accretesolution | ¥1.2B | 0.1% | -2.9% | — | -¥749.1M |
| 40▼1 | SecuAvailInformation security business | ¥1.03B | 0.1% | 25.0% | +5.7% | ¥35.7M |
| 41▼1 | ZenmuTech | ¥851.9M | 0.1% | 16.9% | +39.0% | -¥73.6M |
| 42▼1 | D.I.SystemEducation and Security solution business | ¥760M | 0.1% | — | +32.3% | ¥112.5M |
| 43▲1 | Nippon Techno LABSecurity | ¥613.9M | 0.1% | 30.3% | +11.6% | ¥37.5M |
| 44▲1 | Valtes HoldingsEREMENT03 | ¥290.5M | 0.0% | 13.3% | — | ¥795.3M |
| 45▲1 | CyberlinksTrust service business | ¥147M | 0.0% | -41.5% | +11.5% | ¥399M |
* FCF is company-wide (not disclosed by segment). CAGR covers the available years, up to five.
How they make money differently
Where each company's ¥100 of sales goes, and how much it keeps (company-wide).
- Cost of sales
- SG&A
- Other
- Operating profit
- Digital Arts312544
- Cyber Security Cloud344422
- Trend Micro235621
- GMO internet group403821
- Global Security Experts641620
- Cybertrust Japan532720
- Softcreate Holdings592318
- Amiya523018
- Ascentech77716
- Hennge147016
- Soliton Systems533215
- Secom681913
- Intelligent Wave701812
- Techmatrix682111
- Computer Engineering & Consulting741511
- Fronteo494110
- Focus Systems859
- No.150437
- Digital Hearts Holdings74197
- GMO GlobalSign Holdings41527
- Broadmedia61327
- Toyo5638
- Terilogy Holdings6827
- Macnica Holdings897
- BroadBand Security7125
Showing the 25 largest companies by revenue.
Ownership links
From the major-shareholder section of annual securities reports.
- GMO internet groupIn industry
- SubsidiaryGMO GlobalSign Holdings52.0%
- StakeCyber Security Cloud4.9%
- StakeCaulis4.3%
- 大日本印刷㈱Outside
- SubsidiaryIntelligent Wave50.7%
- 株式会社ビジネスブレイン太田昭和Outside
- AffiliateGlobal Security Experts39.6%
- Global Security ExpertsIn industry
- AffiliateBroadBand Security22.4%
- StakeAmiya4.1%
- 株式会社IDホールディングスOutside
- AffiliateBroadBand Security21.4%
- Focus SystemsIn industry
- StakeFronteocross-held9.3%
- FronteoIn industry
- StakeFocus Systemscross-held6.1%
- セグエグループ株式会社Outside
- StakeZenmuTech5.9%
- 株式会社クレディセゾンOutside
- StakeNo.15.5%
- 株式会社オービックビジネスコンサルタントOutside
- StakeCybertrust Japan5.4%
- StakeSoftcreate Holdings5.1%
- BIPROGY株式会社Outside
- StakeSoftcreate Holdings5.2%
- BroadBand SecurityIn industry
- StakeSecuAvail5.0%
- 高千穂交易株式会社Outside
- StakeTerilogy Holdings5.0%
- サクサ株式会社Outside
- StakeTerilogy Holdings4.8%
- 富士通株式会社Outside
- StakeComputer Engineering & Consulting4.0%
- 株式会社藤商事Outside
- StakeSuncorporation3.4%
The company on each card is a major shareholder of the companies listed under it (latest 'major shareholders' disclosure). 50%+ is labelled subsidiary and 20%+ affiliate, based on ownership alone. Stakes under 3% are omitted.
Compare the leaders side by side
All companies in Cybersecurity (by revenue)
All 47 companies in this industry, ranked by revenue in each company's latest fiscal year. For companies that belong through one business segment, the figure is that segment's revenue.
- Trend Micro¥276B · 20.6%
- Macnica Holdings¥174.2B · 9.9%
- Secom¥129.9B · 6.9%
- Techmatrix¥51.6B · 12.8%
- GMO internet group¥21.4B · 6.3%
- Soliton Systems¥18.5B · 20.1%
- No.1¥17.5B · 7.6%
- Ascentech¥17.3B · 16.5%
- Intelligent Wave¥17.2B · 12.0%
- Softcreate Holdings¥16.3B · 19.8%
- Digital Hearts Holdings¥15.9B · 2.4%
- GMO GlobalSign Holdings¥12.8B · 10.5%
- Computer Engineering & Consulting¥11.1B · 17.5%
- Global Security Experts¥11B · 20.3%
- Hennge¥10.9B · 16.4%
- Digital Arts¥10.8B · 44.2%
- Terilogy Holdings¥10.6B · 5.2%
- Cybertrust Japan¥8.36B · 19.7%
- Focus Systems¥8.14B · 13.8%
- Toyo¥8.12B · 8.5%
- BroadBand Security¥6.78B · 7.5%
- Broadmedia¥6.24B · 14.5%
- Amiya¥5.94B · 34.2%
- Cyber Security Cloud¥5.08B · 21.7%
- i3 Systems¥4.44B · 28.4%
- Fronteo¥4.02B · 15.1%
- FFRI Security¥3.99B · 35.9%
- CyberSolutions¥3.53B · 42.5%
- Asgent¥3.43B · 4.3%
- Grcs¥3.33B · -2.0%
- Fuva Brain¥3.22B · 9.3%
- Heroz¥2.84B · 32.7%
- Tobila Systems¥2.81B · 53.1%
- Eltes¥2.73B · 36.3%
- S&J¥2.33B · 23.8%
- Caulis¥1.4B · 29.1%
- VLC Security¥1.37B · -28.4%
- Suncorporation¥1.29B · 10.9%
- Accrete¥1.2B · -2.9%
- Showcase¥1.15B · 29.8%
- SecuAvail¥1.03B · 25.0%
- ZenmuTech¥851.9M · 16.9%
- D.I.System¥760M
- Nippon Techno LAB¥613.9M · 30.3%
- abc¥606.8M · 8.9%
- Valtes Holdings¥290.5M · 13.3%
- Cyberlinks¥147M · -41.5%
Revenue · Op. margin
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