{
 "as_of": "2026-11-06",
 "cmr": "jp-cm-kg/TSE-STANDARD/3804",
 "fence": "The page is the record's research on the issuer — no analyst, no rating, no view.",
 "markdown": "The page is the record's research on the issuer — no analyst, no rating, no view.\n\n# System D Inc. (Standard Market: 3804) — research page\n\nAs of 2026-11-06 · jp-cm-kg · record version 1\n\n## Identity and listing\n\nThe issuer is System D Inc., listed on the Standard Market of the Japanese exchange under ticker 3804. The ISIN is not on the record. The LEI is not on the record. The security type is Corporate. The segment is not on the record. The sector is 5250 Information & Communication. The jurisdiction is Japan (EDINET domestic filer). The listing status is listed, not halted.\n\n## The disclosure read\n\nThe record holds 6 filings in the twelve months to 2026-11-06, on 3 filing days. The median gap between filing days is 69.0 days. The latest filing is dated 2026-06-15, 144 days before the record date of 2026-11-06, and is of type regulatory_filing. The Standard Market median cadence gap is 67.5 days, the median filings count is 7, and the median latency is 107 days. The 5250 Information & Communication sector median cadence gap is 38 days, the median filings count is 8.0, and the median latency is 85.0 days. The filings by type are 1 ad hoc, 3 regulatory filings and 2 results.\n\n## Auditor\n\nThe auditor of record is 清 友 監 査 法 人. Its location is not on the record. Auditor changes are not on the record, as the register has no lifecycle type map yet.\n\n## Events and halts\n\nListing, delisting, name change, domicile change and segment move are not on the record, as the register has no lifecycle type map yet. The halt flag is listed, not halted.\n\n## Orderability\n\nFor the client category Qualified Institutional Investors, the signal is null and the outcome is not determinable, because the rule states a product scope and the record carries no instrument class to place within it. The rule version is acm-68000/jp/suitability-principle-fiea-article-40/r1, and the chapter is as of 2026-11-04.\n\n## Coverage\n\nNo research houses were found on the issuer's investor-relations pages read. The count is 0.\n\n## Open research\n\nOpenly published research notes on the record number 5. They are by FISCO Ltd., dated 2025-02-13, and by 株式会社ティー・アイ・ダヴリュ, dated 2013-10-15, 2013-07-09, 2012-06-01 and 2012-02-16.\n\n## Licensed\n\nLicensed research: none loaded. A licensed row is served only to an agent whose firm holds that licence (licensor, entitlement). No licensed row is loaded.\n\n## As-of depth\n\nThe market's vintage is not sealed. No issuer years are sealed, the market's earliest sealed date is not on the record, and the live record began is not on the record.\n\n## Sources\n\n12 source pages are named on this page; every value above carries its own source page and read date in the numbers.\n\n- https://www.jpx.co.jp/english/markets/statistics-equities/misc/tvdivq0000001vg2-att/data_e.xlsx (identity.exchange)\n- https://disclosure2dl.edinet-fsa.go.jp/searchdocument/codelist/Edinetcode.zip (identity.jurisdiction)\n- https://mcp.jp-cm-kg.ai/events/TSE-STANDARD/3804 (the disclosure lines)\n- https://www.jpx.co.jp/markets/equities/suspended/index.html (the halt flag)\n- https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100XHGC (the auditor)\n- https://mcp.jp-cm-kg.ai/book/aio.json (the orderability chapter)\n- https://www.systemd.co.jp/wordpress/wp-content/uploads/2025/02/systemd20250213.pdf (open research)\n- https://www.jpx.co.jp/files/tse/listing/analystreport/b7gje6000003k9v0-att/ana_up_3804_20131015_1.pdf (open research)\n- https://www.systemd.co.jp/common/uploads/2013/07/ana_up_3804_20130709_1.pdf (open research)\n- https://www.jpx.co.jp/files/tse/listing/analystreport/data/ana_up_3804_20120601_1.pdf (open research)\n- https://www.jpx.co.jp/files/tse/listing/analystreport/data/ana_in_3804_20120216_1.pdf (open research)\n- https://mcp.jp-cm-kg.ai/record/TSE-STANDARD/3804 (the record)\n",
 "market": "JP",
 "node": "jp-cm-kg",
 "numbers": {
  "as_of_depth": {
   "issuer_years_sealed": [],
   "live_record_began": null,
   "node_history_from": null,
   "node_years_sealed": [],
   "note": "the JP vintage is not sealed; the record is the live record as of 2026-11-06",
   "record_version": 1,
   "sealed": false
  },
  "auditor": {
   "auditor": {
    "read_by": "EDINET XBRL-to-CSV facts (API v2 type=5, 有価証券報告書 docTypeCode 120) — element jpcrp_cor:AuditFirm1Consolidated",
    "read_date": "2026-11-06",
    "read_date_basis": "the record version as_of",
    "source": "https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100XHGC",
    "state": "sourced",
    "value": "清 友 監 査 法 人"
   },
   "auditor_firm_id": {
    "market": "JP",
    "state": "not_on_record"
   },
   "auditor_location": {
    "market": "JP",
    "state": "not_on_record"
   },
   "changes": {
    "market": "JP",
    "reason": "no lifecycle type map for this register yet (SHELF-01: us and ca first)",
    "state": "not_on_record"
   }
  },
  "cmr": "jp-cm-kg/TSE-STANDARD/3804",
  "coverage": {
   "count": 0,
   "houses": [],
   "pages_checked": [],
   "read_by": "Perplexity sonar (search) · page read by this rail",
   "read_date": "2026-11-12",
   "since": null,
   "state": "none_found"
  },
  "disclosure": {
   "against": {
    "exchange": {
     "issuers": 1559,
     "median_cadence_gap_days": 67.5,
     "median_filings": 7,
     "median_latency_days": 107,
     "name": "Standard Market"
    },
    "sector": {
     "issuers": 644,
     "median_cadence_gap_days": 38,
     "median_filings": 8,
     "median_latency_days": 85,
     "name": "5250 Information & Communication"
    }
   },
   "by_type": {
    "ad_hoc": 1,
    "regulatory_filing": 3,
    "results": 2
   },
   "cadence_median_gap_days": 69,
   "filing_days": 3,
   "filings": 6,
   "latency_days": 144,
   "latest": [
    {
     "category": "135",
     "date": "2026-06-15",
     "source": "https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YB1F",
     "title": "確認書",
     "type": "regulatory_filing"
    },
    {
     "category": "半期報告書 (half-year report)",
     "date": "2026-06-15",
     "source": "https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100YB1C",
     "title": "半期報告書－第45期(2025/11/01－2026/10/31)",
     "type": "results"
    },
    {
     "category": "臨時報告書 (extraordinary report)",
     "date": "2026-01-30",
     "source": "https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100XHML",
     "title": "臨時報告書",
     "type": "ad_hoc"
    },
    {
     "category": "235",
     "date": "2026-01-28",
     "source": "https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100XHGE",
     "title": "内部統制報告書－第44期(2024/11/01－2025/10/31)",
     "type": "regulatory_filing"
    },
    {
     "category": "135",
     "date": "2026-01-28",
     "source": "https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100XHGD",
     "title": "確認書",
     "type": "regulatory_filing"
    }
   ],
   "latest_filing_date": "2026-06-15",
   "read": "the node's event lines (list_events_since), as get_filings serves them",
   "source": "https://mcp.jp-cm-kg.ai/events/TSE-STANDARD/3804",
   "window": {
    "from": "2025-11-06",
    "to": "2026-11-06"
   }
  },
  "identity": {
   "exchange": {
    "read_by": "JPX listed-issuers workbook (data_e.xlsx, English)",
    "read_date": "2026-11-06",
    "read_date_basis": "the record version as_of",
    "source": "https://www.jpx.co.jp/english/markets/statistics-equities/misc/tvdivq0000001vg2-att/data_e.xlsx",
    "state": "sourced",
    "value": "Standard Market"
   },
   "isin": {
    "market": "JP",
    "reason": "no LEI, so no GLEIF ISIN route",
    "state": "not_on_record"
   },
   "jurisdiction": {
    "read_by": "EDINET code list (Edinetcode.zip, filer master with corporate number) (提出者種別)",
    "read_date": "2026-11-06",
    "read_date_basis": "the record version as_of",
    "source": "https://disclosure2dl.edinet-fsa.go.jp/searchdocument/codelist/Edinetcode.zip",
    "state": "sourced",
    "value": "Japan (EDINET domestic filer)"
   },
   "lei": {
    "market": "JP",
    "reason": "no GLEIF record registered as 1300-01-021041 (RA000412)",
    "state": "not_on_record"
   },
   "name": {
    "read_by": "JPX listed-issuers workbook (data_e.xlsx, English)",
    "read_date": "2026-11-06",
    "read_date_basis": "the record version as_of",
    "source": "https://www.jpx.co.jp/english/markets/statistics-equities/misc/tvdivq0000001vg2-att/data_e.xlsx",
    "state": "sourced",
    "value": "System D Inc."
   },
   "sector": {
    "read_by": "JPX listed-issuers workbook (data_e.xlsx, English) (33-sector classification)",
    "read_date": "2026-11-06",
    "read_date_basis": "the record version as_of",
    "source": "https://www.jpx.co.jp/english/markets/statistics-equities/misc/tvdivq0000001vg2-att/data_e.xlsx",
    "state": "sourced",
    "value": "5250 Information & Communication"
   },
   "security_type": {
    "read_by": "JPX listed-issuers workbook (data_e.xlsx, English)",
    "read_date": "2026-11-06",
    "read_date_basis": "the record version as_of",
    "source": "https://www.jpx.co.jp/english/markets/statistics-equities/misc/tvdivq0000001vg2-att/data_e.xlsx",
    "state": "sourced",
    "value": "Corporate"
   },
   "segment": {
    "market": "JP",
    "state": "not_on_record"
   },
   "ticker": {
    "read_by": "JPX listed-issuers workbook (data_e.xlsx, English)",
    "read_date": "2026-11-06",
    "read_date_basis": "the record version as_of",
    "source": "https://www.jpx.co.jp/english/markets/statistics-equities/misc/tvdivq0000001vg2-att/data_e.xlsx",
    "state": "sourced",
    "value": "3804"
   },
   "website": {
    "market": "JP",
    "state": "not_on_record"
   }
  },
  "licensed": {
   "columns": [
    "licensor",
    "entitlement",
    "title",
    "date",
    "source"
   ],
   "rows": [],
   "rule": "A licensed row is served only to an agent whose firm holds that licence (licensor, entitlement). No licensed row is loaded."
  },
  "lifecycle": {
   "delisting": {
    "market": "JP",
    "reason": "no lifecycle type map for this register yet (SHELF-01: us and ca first)",
    "state": "not_on_record"
   },
   "domicile_change": {
    "market": "JP",
    "reason": "no lifecycle type map for this register yet (SHELF-01: us and ca first)",
    "state": "not_on_record"
   },
   "listing": {
    "market": "JP",
    "reason": "no lifecycle type map for this register yet (SHELF-01: us and ca first)",
    "state": "not_on_record"
   },
   "name_change": {
    "market": "JP",
    "reason": "no lifecycle type map for this register yet (SHELF-01: us and ca first)",
    "state": "not_on_record"
   },
   "segment_move": {
    "market": "JP",
    "reason": "no lifecycle type map for this register yet (SHELF-01: us and ca first)",
    "state": "not_on_record"
   }
  },
  "market": "JP",
  "node": "jp-cm-kg",
  "numbers_hash": "sha256:72005a6a6264e1eccf7b79e4fdfeddfac556a7565b249acca8082f4824257e65",
  "open_research": {
   "read_date": "2026-11-12",
   "rows": [
    {
     "date": "2025-02-13",
     "kind": "independent",
     "publisher": "FISCO Ltd.",
     "read_by": "the note's link answers (200 application/pdf); a document, not read as text",
     "read_date": "2026-11-12",
     "source": "https://www.systemd.co.jp/wordpress/wp-content/uploads/2025/02/systemd20250213.pdf",
     "state": "sourced",
     "title": "システム ディ"
    },
    {
     "date": "2013-10-15",
     "kind": "independent",
     "publisher": "株式会社ティー・アイ・ダヴリュ",
     "read_by": "the note's link answers (200 application/pdf); a document, not read as text",
     "read_date": "2026-11-12",
     "source": "https://www.jpx.co.jp/files/tse/listing/analystreport/b7gje6000003k9v0-att/ana_up_3804_20131015_1.pdf",
     "state": "sourced",
     "title": "システム ディ"
    },
    {
     "date": "2013-07-09",
     "kind": "independent",
     "publisher": "株式会社ティー・アイ・ダヴリュ",
     "read_by": "the note's link answers (200 application/pdf); a document, not read as text",
     "read_date": "2026-11-12",
     "source": "https://www.systemd.co.jp/common/uploads/2013/07/ana_up_3804_20130709_1.pdf",
     "state": "sourced",
     "title": "システム ディ"
    },
    {
     "date": "2012-06-01",
     "kind": "independent",
     "publisher": "株式会社ティー・アイ・ダヴリュ",
     "read_by": "the note's link answers (200 application/pdf); a document, not read as text",
     "read_date": "2026-11-12",
     "source": "https://www.jpx.co.jp/files/tse/listing/analystreport/data/ana_up_3804_20120601_1.pdf",
     "state": "sourced",
     "title": "システム ディ"
    },
    {
     "date": "2012-02-16",
     "kind": "independent",
     "publisher": "株式会社ティー・アイ・ダヴリュ",
     "read_by": "the note's link answers (200 application/pdf); a document, not read as text",
     "read_date": "2026-11-12",
     "source": "https://www.jpx.co.jp/files/tse/listing/analystreport/data/ana_in_3804_20120216_1.pdf",
     "state": "sourced",
     "title": "ベーシックレポート システム ディ"
    }
   ],
   "state": "found"
  },
  "orderability": {
   "chapter_as_of": "2026-11-04",
   "client_categories": [
    "Qualified Institutional Investors"
   ],
   "outcomes": {
    "Qualified Institutional Investors": {
     "determinable": false,
     "reason": "the rule states a product scope and the subject's record carries no instrument class to place within it",
     "signal": null
    }
   },
   "read": {
    "basis": "one live read per instrument class, halt state and client category on this market; this issuer's group",
    "chapter": "https://mcp.jp-cm-kg.ai/book/aio.json",
    "door": "https://mcp.jp-cm-kg.ai/mcp",
    "tool": "get_orderability"
   },
   "rule_version": "acm-68000/jp/suitability-principle-fiea-article-40/r1",
   "section": "jp.aio.v6"
  },
  "record": {
   "as_of": "2026-11-06",
   "url": "https://mcp.jp-cm-kg.ai/record/TSE-STANDARD/3804",
   "version": 1
  },
  "schema": "research-numbers v0.1 (USR-01, 2026-11-11)",
  "status": {
   "read_date": "2026-11-08",
   "source": "https://www.jpx.co.jp/markets/equities/suspended/index.html",
   "value": "listed, not halted"
  }
 },
 "numbers_hash": "sha256:72005a6a6264e1eccf7b79e4fdfeddfac556a7565b249acca8082f4824257e65",
 "path": "/jp/TSE-STANDARD/3804",
 "schema": "research-page v0.1 (USR-02, 2026-11-11)",
 "sections": [
  {
   "id": "identity",
   "text": "The issuer is System D Inc., listed on the Standard Market of the Japanese exchange under ticker 3804. The ISIN is not on the record. The LEI is not on the record. The security type is Corporate. The segment is not on the record. The sector is 5250 Information & Communication. The jurisdiction is Japan (EDINET domestic filer). The listing status is listed, not halted.",
   "title": "Identity and listing"
  },
  {
   "id": "disclosure",
   "text": "The record holds 6 filings in the twelve months to 2026-11-06, on 3 filing days. The median gap between filing days is 69.0 days. The latest filing is dated 2026-06-15, 144 days before the record date of 2026-11-06, and is of type regulatory_filing. The Standard Market median cadence gap is 67.5 days, the median filings count is 7, and the median latency is 107 days. The 5250 Information & Communication sector median cadence gap is 38 days, the median filings count is 8.0, and the median latency is 85.0 days. The filings by type are 1 ad hoc, 3 regulatory filings and 2 results.",
   "title": "The disclosure read"
  },
  {
   "id": "auditor",
   "text": "The auditor of record is 清 友 監 査 法 人. Its location is not on the record. Auditor changes are not on the record, as the register has no lifecycle type map yet.",
   "title": "Auditor"
  },
  {
   "id": "events",
   "text": "Listing, delisting, name change, domicile change and segment move are not on the record, as the register has no lifecycle type map yet. The halt flag is listed, not halted.",
   "title": "Events and halts"
  },
  {
   "id": "orderability",
   "text": "For the client category Qualified Institutional Investors, the signal is null and the outcome is not determinable, because the rule states a product scope and the record carries no instrument class to place within it. The rule version is acm-68000/jp/suitability-principle-fiea-article-40/r1, and the chapter is as of 2026-11-04.",
   "title": "Orderability"
  },
  {
   "id": "coverage",
   "text": "No research houses were found on the issuer's investor-relations pages read. The count is 0.",
   "title": "Coverage"
  },
  {
   "id": "open_research",
   "text": "Openly published research notes on the record number 5. They are by FISCO Ltd., dated 2025-02-13, and by 株式会社ティー・アイ・ダヴリュ, dated 2013-10-15, 2013-07-09, 2012-06-01 and 2012-02-16.",
   "title": "Open research"
  },
  {
   "id": "licensed",
   "text": "Licensed research: none loaded. A licensed row is served only to an agent whose firm holds that licence (licensor, entitlement). No licensed row is loaded.",
   "title": "Licensed"
  },
  {
   "id": "depth",
   "text": "The market's vintage is not sealed. No issuer years are sealed, the market's earliest sealed date is not on the record, and the live record began is not on the record.",
   "title": "As-of depth"
  },
  {
   "id": "sources",
   "text": "12 source pages are named on this page; every value above carries its own source page and read date in the numbers.",
   "title": "Sources"
  }
 ],
 "sources": [
  {
   "for": "identity.exchange",
   "source": "https://www.jpx.co.jp/english/markets/statistics-equities/misc/tvdivq0000001vg2-att/data_e.xlsx"
  },
  {
   "for": "identity.jurisdiction",
   "source": "https://disclosure2dl.edinet-fsa.go.jp/searchdocument/codelist/Edinetcode.zip"
  },
  {
   "for": "the disclosure lines",
   "source": "https://mcp.jp-cm-kg.ai/events/TSE-STANDARD/3804"
  },
  {
   "for": "the halt flag",
   "source": "https://www.jpx.co.jp/markets/equities/suspended/index.html"
  },
  {
   "for": "the auditor",
   "source": "https://disclosure2.edinet-fsa.go.jp/WZEK0040.aspx?S100XHGC"
  },
  {
   "for": "the orderability chapter",
   "source": "https://mcp.jp-cm-kg.ai/book/aio.json"
  },
  {
   "for": "open research",
   "source": "https://www.systemd.co.jp/wordpress/wp-content/uploads/2025/02/systemd20250213.pdf"
  },
  {
   "for": "open research",
   "source": "https://www.jpx.co.jp/files/tse/listing/analystreport/b7gje6000003k9v0-att/ana_up_3804_20131015_1.pdf"
  },
  {
   "for": "open research",
   "source": "https://www.systemd.co.jp/common/uploads/2013/07/ana_up_3804_20130709_1.pdf"
  },
  {
   "for": "open research",
   "source": "https://www.jpx.co.jp/files/tse/listing/analystreport/data/ana_up_3804_20120601_1.pdf"
  },
  {
   "for": "open research",
   "source": "https://www.jpx.co.jp/files/tse/listing/analystreport/data/ana_in_3804_20120216_1.pdf"
  },
  {
   "for": "the record",
   "source": "https://mcp.jp-cm-kg.ai/record/TSE-STANDARD/3804"
  }
 ],
 "title": "System D Inc. (3804) — research page",
 "writer": {
  "by": "Claude through the platform account, Haiku class; one pass; checked against the numbers",
  "engine": "claude-haiku-5-5"
 }
}