FRONTEO, Inc. Reports Unaudited Second Quarter Fiscal Year 2017 Financial Results

TOKYO, Nov. 14, 2016 (GLOBE NEWSWIRE) -- FRONTEO, Inc. (NASDAQ:FTEO) (TSE:2158) ("FRONTEO" or the "Company"), a leading provider of international litigation support and big-data analysis services, announced today its unaudited financial results for the second quarter fiscal year 2017 ended September 30, 2016 (the "second quarter 2017"). All figures are prepared in accordance with the generally accepted accounting principles of Japan ("Japanese GAAP").

"We are pleased with the progress of our expanding customer base for AI systems and solutions during the past quarter," stated FRONTEO's Chairman and Chief Executive Officer Masahiro Morimoto. "We are glad to see continuous traction around emerging AI applications in the healthcare and digital marketing fields, which has been proven by the 156% year-over-year sales growth in this business segment for the first half of the year."

"One of the major highlights during the quarter was that FRONTEO reached an agreement with Japanese Foundation for Cancer Research to initiate development work for a personalized cancer treatment system. The system is also expected to support other critical illness treatments in the future, in the hope of maintaining and enhancing the quality of healthcare services in Japan. Additionally, we are excited about the future of our AI robot, Kibiro, for which we are taking pre-orders from individual consumers in Japan. We believe that Kibiro will drive broader consumer interests for AI-based information services and benefit FRONTEO over the long run. Furthermore, we just announced the follow-on AI Expert Training Program with Japan Third Party Co., Ltd. that is designed for non-IT professionals to learn AI-related technologies. FRONTEO is leading the industry in accelerating the utilization of AI among Japanese enterprises and organizations."

"We are encouraged by the rapid adoption among clients for our business intelligence systems equipped with our proprietary AI engine, KIBIT. We will continue to invest in order to strengthen and expand our AI capabilities within and beyond the business fields including legal, healthcare, and digital marketing. We strive to remain a cutting-edge AI provider for our customers, in a way that benefits all of society in the future."