Worth reading
58In focus
0–100. This measures how worthwhile something is to read, not how good or bad the company is.Direction
Mixed performance
Direction inferred from the company’s description.Scale
-30
¥ million (operating profit, compared with the actual result for the fiscal year ended May 2026)Wording
Conditional
How definitive the wording is.Items stated in the management plan
Annual updateNet Sales+10.6%
基準 1,447Target1,601million
Operating profit-15.2%
基準 197Target167million
Operating profit margin-3.3pt
基準 13.7Target10.4%
Each line is the climb from the baseline the document states to the target it sets. The slope is scaled against the largest climb in this document. For metrics expressed as percentages, differences are shown in percentage points (pt).The increase shown by the dotted line is calculated from the two reported figures because the company did not provide the amount of growth.
What happened to the previous planUse-of-funds plan at the time of listing: personnel and recruiting expenses of ¥162.640 million, server and security expenses of ¥50 million, and office relocation expenses of ¥21 million → Implemented broadly in line with the plan
Total investment plan¥233.640 million (total breakdown of the use-of-funds plan at the time of listing)
Investment amount by sectorField Labor and recruitment costs / Amount ¥162.640 million, Field Server and security expenses / Amount ¥50 million, Field Office relocation expenses / Amount ¥21 million
Statements about the use of capital
Treasury share acquisition policyThe company began acquiring treasury shares pursuant to the decision on matters concerning the acquisition of treasury shares dated 10 April 2026. The acquisition will be funded by ¥100 million and is intended to improve capital efficiency for medium- to long-term earnings growth and enable flexible capital policy. See the separate release for details of the acquisition terms.
Key initiatives
01Deepening engagement in existing domains
02Adding features to KASIKA
03Using data and knowledge
04Rolling out AI features
05Expanding in the real estate domain
06Adding customer acquisition features
07Adding features for transactions and post-transaction services
08Expanding into other industries
09Offering KASIKA to other industries
Plan assumptionsThe monthly churn rate is assumed to be around 1.0%., A price revision in the condominium business is scheduled to take effect from January 2027., The number of employees is expected to remain at 130-140 throughout the fiscal year ending May 2027., The budget assumes communications expenses at approximately 17% of revenue and outsourcing expenses at approximately 5% of revenue.
Non-financial targetsIndicator Number of employees / Target value 130-140 people / Timing Fiscal year ending May 2027, Indicator Number of employees / Target value 135-140 people / Timing Expected at the end of May 2027, Indicator Monthly churn rate (by number of companies) / Target value Around 1.0% / Timing Fiscal year ending May 2027
Size of the Target MarketThe SAM comprises 66,942 businesses and 352,108 people, with MRR of ¥1.760 billion per month. Current MRR is ¥114 million per month, representing 6.5% of the SAM on an MRR basis. The cloud service adoption rate in the real estate industry was 92.6% in 2024, and the number of licensed real estate transaction businesses was 132,291 at the end of fiscal 2024. Sources: Ministry of Internal Affairs and Communications, "Communications Usage Trend Survey (Corporate Edition)"; Ministry of Land, Infrastructure, Transport and Tourism, "Survey Results on the Implementation of the Real Estate Brokerage Act in Fiscal 2024"; Ministry of Internal Affairs and Communications and Ministry of Economy, Trade and Industry, "2021 Economic Census for Business Activity"
Risks identified by the company
Risk of loss of trust resulting from information leakage
Dependence on specific business services
Reason for revision or withdrawal
The company views this as a run-up period toward a highly profitable business structure that will reliably capture expanding demand and convert it into substantial future profits. For the fiscal year ending May 2027, the company will moderate its hiring curve while continuing initiatives to improve and enhance operational efficiency using generative AI and other technologies, as well as investment in feature development. The condominium pricing structure will be revised to establish appropriate prices reflecting differences in cost structures by property size and market conditions by region, while ensuring fairness among customers, continuing to provide high-quality services, and strengthening the business's sustainable earnings base.
| Item | Details |
|---|---|
| Plan name | Plan for the fiscal year ending May 2027 |
| Plan period | Fiscal year ending May 2027 |
| Progress against the plan | Annual update |
| Sales Target | ¥1,447 million → ¥1,601 million（10.6%） |
| Operating profit target | ¥197 million → ¥167 million（-15.2%） |
| Operating profit margin target | 13.7 % → 10.4 %（-24.1%） |
| Treasury share acquisition policy | The company began acquiring treasury shares pursuant to the decision on matters concerning the acquisition of treasury shares dated 10 April 2026. The acquisition will be funded by ¥100 million and is intended to improve capital efficiency for medium- to long-term earnings growth and enable flexible capital policy. See the separate release for details of the acquisition terms. |
| Total investment plan | ¥233.640 million (total breakdown of the use-of-funds plan at the time of listing) |
| Investment amount by sector | Field Labor and recruitment costs / Amount ¥162.640 million, Field Server and security expenses / Amount ¥50 million, Field Office relocation expenses / Amount ¥21 million |
| Non-financial targets | Indicator Number of employees / Target value 130-140 people / Timing Fiscal year ending May 2027, Indicator Number of employees / Target value 135-140 people / Timing Expected at the end of May 2027, Indicator Monthly churn rate (by number of companies) / Target value Around 1.0% / Timing Fiscal year ending May 2027 |
| Plan assumptions | The monthly churn rate is assumed to be around 1.0%., A price revision in the condominium business is scheduled to take effect from January 2027., The number of employees is expected to remain at 130-140 throughout the fiscal year ending May 2027., The budget assumes communications expenses at approximately 17% of revenue and outsourcing expenses at approximately 5% of revenue. |
| Key initiatives | Deepening engagement in existing domains, Adding features to KASIKA, Using data and knowledge, Rolling out AI features, Expanding in the real estate domain, Adding customer acquisition features, Adding features for transactions and post-transaction services, Expanding into other industries, Offering KASIKA to other industries |
| Results under the previous plan | Use-of-funds plan at the time of listing: personnel and recruiting expenses of ¥162.640 million, server and security expenses of ¥50 million, and office relocation expenses of ¥21 million → Implemented broadly in line with the plan |
| Reason for revision or withdrawal | The company views this as a run-up period toward a highly profitable business structure that will reliably capture expanding demand and convert it into substantial future profits. For the fiscal year ending May 2027, the company will moderate its hiring curve while continuing initiatives to improve and enhance operational efficiency using generative AI and other technologies, as well as investment in feature development. The condominium pricing structure will be revised to establish appropriate prices reflecting differences in cost structures by property size and market conditions by region, while ensuring fairness among customers, continuing to provide high-quality services, and strengthening the business's sustainable earnings base. |
| Size of the Target Market | The SAM comprises 66,942 businesses and 352,108 people, with MRR of ¥1.760 billion per month. Current MRR is ¥114 million per month, representing 6.5% of the SAM on an MRR basis. The cloud service adoption rate in the real estate industry was 92.6% in 2024, and the number of licensed real estate transaction businesses was 132,291 at the end of fiscal 2024. Sources: Ministry of Internal Affairs and Communications, "Communications Usage Trend Survey (Corporate Edition)"; Ministry of Land, Infrastructure, Transport and Tourism, "Survey Results on the Implementation of the Real Estate Brokerage Act in Fiscal 2024"; Ministry of Internal Affairs and Communications and Ministry of Economy, Trade and Industry, "2021 Economic Census for Business Activity" |
| Risks identified | Risk of loss of trust resulting from information leakage, Dependence on specific business services |
| Publication date | 31 August 2026 |
Items this document does not state (8)
Net income targetROE targetROIC targetPayout ratio / DOE policyCost of capitalSelf-assessment of PBR and share priceSegment targetDate of board resolution
These are items the company does not state in this document. We do not leave them blank, nor fill them in from other sources or by inference.
The reasons the company gives
The company's own explanation, not something inferred from the numbers.The company views this as a run-up period toward a highly profitable business structure that will reliably capture expanding demand and convert it into substantial future profits. For the fiscal year ending May 2027, expenses are expected to increase as the company continues investing in feature development, initiatives to improve and enhance operational efficiency using generative AI and other technologies, and human resources. The condominium pricing revision is intended to establish appropriate prices reflecting differences in cost structures by property size and market conditions by region, continue providing high-quality services, and strengthen the earnings base.
How to read this page
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Corrections happenIf the company reissues this disclosure, the page is rebuilt from the corrected version and the revision number moves up.