TREND MICRO INC S/ADR - TMICY STOCK NEWS

Trend Micro has released new research indicating that 89% of firms in the electricity, oil and gas, and manufacturing sectors faced cyber-attacks affecting production in the last 12 months. The average financial damage from these disruptions is around $2.8 million, with the oil and gas sector hit hardest. Notably, 72% of respondents experienced cyber disruptions at least six times a year. Despite efforts to enhance cybersecurity, many organizations lack adequate resources. This highlights the urgent need for effective cybersecurity strategies in increasingly digital industrial environments.

Trend Micro has established a dedicated US Federal Business unit to enhance cybersecurity services for federal organizations. Located in the DC corridor, this unit focuses on securing digital transformation, zero trust implementation, and cloud migrations specifically for federal requirements. The initiative is part of Trend Micro's commitment to safeguarding sensitive data against increasing cyber threats, including ransomware attacks. The business unit is staffed by a team of experts with extensive government cybersecurity experience, further strengthening Trend Micro's position as a key security partner for federal agencies.

Trend Micro hosted the Pwn2Own hacking competition on May 24, 2022, awarding $1,155,000 to researchers for disclosing 25 zero-day vulnerabilities. This event emphasizes the importance of cybersecurity by enabling researchers to identify vulnerabilities in critical software used by over 1 billion end users. Key partners included Microsoft, Tesla, and Zoom. The initiative aims to improve the security landscape, especially in areas like remote work and automotive software. Trend Micro's Zero Day Initiative collaborates with software vendors to enhance security measures for businesses and individuals.

Trend Micro reported a 13% net sales growth year-over-year for Q1 2022, totaling 50,427 million Yen (approximately $433 million). The company's annual recurring revenue (ARR) from enterprise subscriptions rose by 34%, exceeding $570 million. The total number of subscription-based customers increased to over 393,000. Despite strong performance, Trend Micro issued a caution regarding potential risks, including evolving cyber threats and market competition.

Trend Micro has launched Trend Micro One, a unified cybersecurity platform designed to enhance visibility and control over cyber risks. The platform boasts a growing ecosystem of partners like Google Cloud, Microsoft, and Palo Alto Networks, enabling enterprises to better understand and mitigate threats. The platform focuses on continuous risk assessment, attack surface discovery, and comprehensive threat response. Notably, it aims to combat increasing challenges from cybercriminals, supporting organizations in protecting their digital environments effectively.

Trend Micro's latest Cyber Risk Index (CRI) reveals a global risk level of -0.04 for the second half of 2021, indicating elevated cyber threats. A staggering 76% of organizations believe they will face successful cyber attacks in the next year, with concerns particularly high in North America. The report highlights that 84% of respondents experienced a successful attack in the past year, with ransomware, phishing, and denial of service being the top threats. Organizations are urged to enhance their cybersecurity strategies, particularly focusing on cloud computing and remote work risks.

Trend Micro has been recognized as a Leader in Endpoint Detection and Response (EDR) by Forrester, highlighting its commitment to innovation and customer security. This designation positions Trend Micro among only three vendors acknowledged as leaders in this category. The report noted that the company received 5/5 scores in nine evaluation criteria, underscoring its strengths in investigation capabilities and extended capabilities. This recognition follows several other accolades, reinforcing Trend Micro's dedication to addressing evolving security needs.

Trend Micro's latest report warns of a rising threat from malicious cryptocurrency mining targeting cloud systems. The report, titled A Floating Battleground Navigating the Landscape of Cloud-Based Cryptocurrency Mining, reveals a fierce competition for cloud CPU resources among threat actors, with the potential of cost increases up to 600% for affected organizations. The report identifies several key groups, including Outlaw and TeamTNT, and suggests measures like updating systems and deploying firewalls to combat these threats.

On March 17, 2022, Trend Micro, a global cybersecurity leader, reported a significant rise in digital threats, with threat detections increasing by 42% year-on-year, surpassing 94 billion in 2021. Ransomware tactics are evolving, focusing on critical industries for higher payouts, while new actors enter the field via ransomware-as-a-service. Cloud security is at risk, as misconfigurations and human error expose vulnerabilities, with 25.7 million email threats blocked in 2021. Despite a drop in business email compromise detections, advanced threats are on the rise, underscoring the critical need for ongoing monitoring and patching of vulnerabilities.