Micware Co Ltd
micware.co.jpWhat Do They Do?
Develops custom automotive software, in-vehicle systems and navigation software for automakers, suppliers and mobility businesses.
20-F for FY2026, filed Jun 30, 2026We are a Japan-based provider of software development services and innovative IT solutions mainly focused on the automotive and mobility…View ↗
We provide software development services that include the design and delivery of custom automotive software based on our proprietary IVI…View ↗
We generate licensing revenue primarily by granting customers rights to use our proprietary software modules, such as navigation engines…View ↗
We recognize the following types of customers: automotive OEMs, automotive consortiums, and their suppliers, telecommunications service…View ↗
How Do They Make Money?
Customers pay for custom automotive software development as the work is carried out, generally through contracts lasting within one year. Software licenses bring per-unit payments tied to vehicle shipments, while map updates and support are paid for over service periods; Mvcube equipment-and-software packages are paid monthly over five-year leases.
20-F for FY2026, filed Jun 30, 2026Contracts are entered into for the development of defined software modules or functionalities in accordance with customer specifications.…View ↗
Revenue is recognized over time using an input method based on the ratio of direct costs incurred to total direct costs. Development…View ↗
Under licensing arrangements, the Company grants customers rights to use its software modules, such as navigation engines, for a fixed…View ↗
Revenue allocated to the software license is recognized at a point in time, under a sales-based royalty arrangement, calculated by applying…View ↗
The Company generates other software-related revenue primarily from after-sales maintenance and support services provided to customers who…View ↗
The Company also earns revenue from bundled equipment-and-software arrangements, primarily through the Company’s Mvcube service. These…View ↗
$140.3M
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20-F for FY2026, filed Jun 30, 2026
$140.3M ↗
Who Are Their Customers?
Automotive makers, supplier groups and mobility businesses buy software and related services. The company also serves telecommunications providers and firms seeking location-based software.
20-F for FY2026, filed Jun 30, 2026We recognize the following types of customers: automotive OEMs, automotive consortiums, and their suppliers, telecommunications service…View ↗
20-F for FY2026, filed Jun 30, 2026
For the fiscal year ended February 29, 2024, Honda Group and Uni Electronics accounted for 48.1% and 24.2% of the Company’s total revenue…View ↗
Do Revenues Turn Into Profits?
Yes. It kept 7 cents of every revenue dollar as net income in FY2026 and turned 8 cents into free cash flow.
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