Worth reading
54Recurring
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
25
Average annual revenue growth rate (%)Wording
Conditional
How definitive the wording is.Items stated in the management plan
Annual updateNet Sales+24.2%
基準 1,921Target2,386Millions of yen
Operating profit-24.3%
基準 -276Target-343Millions of yen
Net income for the current fiscal year-10.1%
基準 -375Target-413Millions of yen
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. The increase shown by the dotted line is calculated from the two reported figures because the company did not provide the amount of growth.
Total investment plan¥1.40 billion in planned funding (assuming full exercise)
Investment amount by sectorField Investment in AI, blockchain and emerging infrastructure technologies / Amount ¥750 million, Field Costs related to establishing and operating a base in Hong Kong / Amount ¥230 million, Field Research and development of new solutions for next-generation financial education / Amount ¥300 million, Field Costs related to the development, preparation and operation of AI and blockchain infrastructure businesses other than those described in ① and ② above / Amount ¥120 million
Statements about the use of capital
Payout ratio / DOE policyThe Company plans to pay no dividend for FY6/27. As it transitions from the investment phase to the profit growth phase, it will continue to consider the appropriate approach to shareholder returns, including dividends. Numerical targets for the payout ratio and DOE: Not disclosed.The payout ratio is the proportion of profit paid out as dividends, while DOE is the ratio of dividends to net assets.
Key initiatives
01Prioritize the “quality” of referred users and optimize marketing and sales to maintain and increase revenue
02Strengthen customer acquisition through collaboration with other media and influencers, starting with the Kabu-Pure stock-investing service
03Analyze in-app user behavior using AI, then propose and implement improvement measures
04Expand each company’s product lineup (upselling)
05Cross-referrals within the Group (cross-selling)
06Expand the services offered through M&A and pursue larger transaction sizes
07Release the first initiative, the “next-generation on-chain financial trading experience platform,” during 2026
08Through the ongoing introduction of initiatives, establish an independent revenue pillar alongside the existing businesses
09Build a growth platform by combining in-house investment with agile M&A and alliances, while shortening the time to monetization
Plan assumptionsThe earnings forecast does not include new businesses and other initiatives with high revenue uncertainty., The plan assumes that expenses will be incurred to the maximum extent., The platform’s functions and trading infrastructure will be placed on-chain in stages, taking into account market conditions, relevant laws and regulations, technological maturity and user needs.
Segment targetSegment Experiential investment-learning business / Sales Target ¥1,097 million (FY6/27 plan) / Profit Target Not disclosed, Segment Asset-building support business / Sales Target ¥1,288 million (FY6/27 plan) / Profit Target Not disclosed, Segment Financial AI and blockchain infrastructure businesses / Sales Target Not included in the FY6/27 plan / Profit Target Not disclosed
Non-financial targetsIndicator M&A and New Businesses / Target value At least 1 per year / Timing Second Growth Phase, Indicator Release of a next-generation on-chain financial trading experience platform / Target value Release during 2026 / Timing By the end of 2026, Indicator Monetization of the next-generation on-chain financial trading experience platform / Target value Start of monetization / Timing Second half of FY6/27
Size of the Target MarketCategory TAM / Scale Approximately 107 million people (population aged 18 and over) / Source Ministry of Internal Affairs and Communications, “Population Estimates (as of 1 October 2024)”, Category SAM / Scale Approximately 89 million people / Source The Company’s estimate based on the population aged 18 and over, the number of NISA accounts and the number of inactive NISA accounts. NISA account figures and other data are from the Financial Services Agency, “Survey Results on NISA Account Usage (as of the end of December 2025).”, Category SOM / Scale Approximately 26.6 million people (estimate) / Source Uses the 20.5% investment-intention rate from the Japan Securities Dealers Association, “National Survey on Securities Investment (FY2024)”
Risks identified by the company
Market trends
Trends among competitors
Legal and regulatory requirements
Continuation of partnerships with affiliate service providers (ASPs)
Reduction or discontinuation of advertisers’ promotional activities
Platform trends
Reason for revision or withdrawal
To use the strengthening of the management structure as a turning point, maximize the number of users × LTV per user across the Group, and more actively pursue M&A and business investments using internal funds and the capital markets in addition to growing the existing businesses.
| Item | Details |
|---|---|
| Plan name | Second Growth Phase |
| Plan period | Second half of FY6/26 onward (growth outlook shown through FY6/31) |
| Progress against the plan | Annual update |
| Sales Target | 1,921 (FY6/26 actual) → 2,386 (FY6/27 plan)（+24.2%） |
| Operating profit target | -276 (FY6/26 actual) → -343 (FY6/27 plan) |
| Net income target | -375 (FY6/26 actual) → -413 (FY6/27 plan) |
| Payout ratio / DOE policy | The Company plans to pay no dividend for FY6/27. As it transitions from the investment phase to the profit growth phase, it will continue to consider the appropriate approach to shareholder returns, including dividends. Numerical targets for the payout ratio and DOE: Not disclosed. |
| Total investment plan | ¥1.40 billion in planned funding (assuming full exercise) |
| Investment amount by sector | Field Investment in AI, blockchain and emerging infrastructure technologies / Amount ¥750 million, Field Costs related to establishing and operating a base in Hong Kong / Amount ¥230 million, Field Research and development of new solutions for next-generation financial education / Amount ¥300 million, Field Costs related to the development, preparation and operation of AI and blockchain infrastructure businesses other than those described in ① and ② above / Amount ¥120 million |
| Segment target | Segment Experiential investment-learning business / Sales Target ¥1,097 million (FY6/27 plan) / Profit Target Not disclosed, Segment Asset-building support business / Sales Target ¥1,288 million (FY6/27 plan) / Profit Target Not disclosed, Segment Financial AI and blockchain infrastructure businesses / Sales Target Not included in the FY6/27 plan / Profit Target Not disclosed |
| Non-financial targets | Indicator M&A and New Businesses / Target value At least 1 per year / Timing Second Growth Phase, Indicator Release of a next-generation on-chain financial trading experience platform / Target value Release during 2026 / Timing By the end of 2026, Indicator Monetization of the next-generation on-chain financial trading experience platform / Target value Start of monetization / Timing Second half of FY6/27 |
| Plan assumptions | The earnings forecast does not include new businesses and other initiatives with high revenue uncertainty., The plan assumes that expenses will be incurred to the maximum extent., The platform’s functions and trading infrastructure will be placed on-chain in stages, taking into account market conditions, relevant laws and regulations, technological maturity and user needs. |
| Key initiatives | Prioritize the “quality” of referred users and optimize marketing and sales to maintain and increase revenue, Strengthen customer acquisition through collaboration with other media and influencers, starting with the Kabu-Pure stock-investing service, Analyze in-app user behavior using AI, then propose and implement improvement measures, Expand each company’s product lineup (upselling), Cross-referrals within the Group (cross-selling), Expand the services offered through M&A and pursue larger transaction sizes, Release the first initiative, the “next-generation on-chain financial trading experience platform,” during 2026, Through the ongoing introduction of initiatives, establish an independent revenue pillar alongside the existing businesses, Build a growth platform by combining in-house investment with agile M&A and alliances, while shortening the time to monetization |
| Reason for revision or withdrawal | To use the strengthening of the management structure as a turning point, maximize the number of users × LTV per user across the Group, and more actively pursue M&A and business investments using internal funds and the capital markets in addition to growing the existing businesses. |
| Size of the Target Market | Category TAM / Scale Approximately 107 million people (population aged 18 and over) / Source Ministry of Internal Affairs and Communications, “Population Estimates (as of 1 October 2024)”, Category SAM / Scale Approximately 89 million people / Source The Company’s estimate based on the population aged 18 and over, the number of NISA accounts and the number of inactive NISA accounts. NISA account figures and other data are from the Financial Services Agency, “Survey Results on NISA Account Usage (as of the end of December 2025).”, Category SOM / Scale Approximately 26.6 million people (estimate) / Source Uses the 20.5% investment-intention rate from the Japan Securities Dealers Association, “National Survey on Securities Investment (FY2024)” |
| Risks identified | Market trends, Trends among competitors, Legal and regulatory requirements, Continuation of partnerships with affiliate service providers (ASPs), Reduction or discontinuation of advertisers’ promotional activities, Platform trends |
| Publication date | 28 September 2026 |
Items this document does not state (8)
Operating profit margin targetROE targetROIC targetTreasury share acquisition policyCost of capitalSelf-assessment of PBR and share priceResults under the previous planDate 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.To strengthen the management structure and maximize the number of users and LTV per user by combining the existing businesses’ customer base, operating capabilities and fundraising capabilities. The Company plans to prioritize allocating profit to growth investments and actively pursue financial AI and blockchain businesses and M&A.
How to read this page
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