Goldman Sachs Japan Tech – IT Services: NC Company Results Read-Through (9): Northsand (Consulting), ExaWizards (AI Solutions)
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Key Views
Robust modernization/AI/security consulting demand is a tailwind for BayCurrent (Buy) and Nomura Research Institute (Buy), though NRI faces public-sector order-win delays.
Recommended Securities
BayCurrent (Buy, ¥7,840); Nomura Research Institute (Buy, ¥5,155); Northsand (¥2,300) and ExaWizards (¥953) remain non-covered; Goldman Sachs beneficially owns over 1% of ExaWizards' shares.
Key exhibits
Exhibit 1
Exhibit 2
Exhibit 3
