Nova Ltd. provides high-precision position correction data (GNSS correction information distribution service). The use of satellites for positioning has recently become commonplace. However, relying solely on information from satellites (solo positioning) can result in meter-level errors. By using Genova's data distribution service to correct these errors, it is possible to obtain high-precision position information to the centimeter level.
The characteristics of the company's high-precision position correction data are as follows: [1] It uses the electronic reference point network (GEONET) established by the Geospatial Information Authority of Japan to provide high-precision and stable correction data. [2] When correcting position errors, a reference point is necessary, but the company employs a virtual point system, which eliminates the need for physical reference station facilities and equipment, as well as installation and management costs, and is not affected by inclement weather. [3] In Japan, it is necessary to consider crustal movements when making corrections, but the company can provide correction information aligned with nearby electronic reference point results using its own patented technology. Through these measures, the company is able to stably distribute high-precision position correction data and has a market share of over 60% in the surveying industry, making it a top company.
50% of the applications for the company's high-precision position correction data are in surveying, and 40% are in ICT civil engineering and IT agriculture.
The need for high-precision position information is essential for realizing labor reduction through self-driving cars in civil engineering and agriculture fields where there is a shortage of workers. The increase in demand for these services is expected to result in a stable expansion of the demand for high-precision position information. For the fiscal year ending September 2024, the company plans to achieve revenue of 1,273 million yen, a 5.6% increase from the previous year.