Worth reading
59In 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
34
% (year-on-year change in sales for the fiscal year ending May 2027)Wording
Avoiding a definitive answer
How definitive the wording is.Items stated in the management plan
Annual updateNet Sales+3.3%
基準 2,026Target2,093million
Net income for the current fiscal year+0.0%
基準 2,026Target2,027million
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¥177,160 thousand (use of funds raised through the IPO)
Investment amount by sectorField Recruitment costs / Amount ¥143,857 thousand, Field Advertising and promotional expenses / Amount ¥33,303 thousand
Statements about the use of capital
Payout ratio / DOE policyThe long-term target payout ratio is 80%, to be increased in stages. For the fiscal year ending May 2027, the Company plans to pay a dividend equivalent to a 50% payout ratio, or ¥50 per share. The applicable period is the fiscal year ending May 2027 and the medium to long term.The payout ratio is the proportion of profit paid out as dividends, while DOE is the ratio of dividends to net assets.
Key initiatives
01Operation of PEファンド.JP, a private equity fund platform
02[Sales strategy] Strengthening network-based sales
03[Brand strategy] Becoming the No. 1 fully success-fee-based M&A advisory firm
04[Positioning strategy] Increasing market share in the small-deal segment
05[Business strategy] Increasing the number of deals closed per consultant
06[Human resources strategy] Recruiting high-quality personnel and accelerating their development into productive employees through training
07Divisional structure
08Buyer information research team
09Inside sales team
10Restrained new hiring
Plan assumptionsThe domestic M&A market is expected to continue expanding over the medium to long term., The annual M&A target of 60,000 deals around 2029 stated in the Small and Medium Enterprise Agency's Guidelines for M&A Support for Small and Medium-Sized Enterprises is allocated according to the distribution of deals by size., For deals with a transaction value of ¥30 million or more but less than ¥500 million, the Company assumes a deal size of ¥250 million and receipt of a minimum success fee of ¥15 million from both the seller and the buyer., For deals with a transaction value of ¥500 million or more, the Company assumes a deal size of ¥500 million and receipt of 5% of the transaction value from both the seller and the buyer.
Non-financial targetsIndicator Deals closed / Target value 62 deals / Timing Fiscal year ending May 2027, Indicator Average number of consultants / Target value 51.5 people / Timing Fiscal year ending May 2027, Indicator Deals closed per consultant / Target value 1.2 deals / Timing Fiscal year ending May 2027, Indicator New hires / Target value Net increase of approximately 10% from the end of the previous fiscal year / Timing Fiscal year ending May 2027
Size of the Target MarketApproximately ¥700 billion annually. The Company's target market is valued at ¥761.6 billion (23,077 deals). Sources: Small and Medium Enterprise Agency, Materials from the Study Group on the Consolidation of Management Resources of Small and Medium-Sized Enterprises (published 11 November 2020), Guidelines for M&A Support for Small and Medium-Sized Enterprises (published 1 March 2020), and the Company's estimates.
Risks identified by the company
Competition: Because barriers to entry are low, new entrants may increase and competition may intensify.
Securing personnel: Intensifying competition in the recruitment market or an unexpected wave of departures could make it difficult to maintain the number of consultants.
Laws, regulations and permits: M&A advisory services may become subject to legal regulation as a result of the enactment or amendment of laws and regulations.
Information management: Information leaks or unauthorized use could result in claims for damages and damage to the Company's social credibility and brand.
Reason for revision or withdrawal
Against a backdrop that included an increase in the supply of businesses for sale in the M&A market, buyers have become more cautious in evaluating and selecting deals. As a result, evaluation periods have become longer, more deals have failed to close, and the closing rate has declined.
| Item | Details |
|---|---|
| Plan name | Business Plan and Growth Potential |
| Plan period | Fiscal year ending May 2027 (full-year forecast) |
| Progress against the plan | Annual update |
| Sales Target | ¥1,558 million (actual full-year results for the fiscal year ended May 2026) → ¥2,093 million (full-year forecast for the fiscal year ending May 2027)（+34%） |
| Net income target | ¥85 million (actual full-year results for the fiscal year ended May 2026) → ¥218 million (full-year forecast for the fiscal year ending May 2027)（+154%） |
| Payout ratio / DOE policy | The long-term target payout ratio is 80%, to be increased in stages. For the fiscal year ending May 2027, the Company plans to pay a dividend equivalent to a 50% payout ratio, or ¥50 per share. The applicable period is the fiscal year ending May 2027 and the medium to long term. |
| Total investment plan | ¥177,160 thousand (use of funds raised through the IPO) |
| Investment amount by sector | Field Recruitment costs / Amount ¥143,857 thousand, Field Advertising and promotional expenses / Amount ¥33,303 thousand |
| Non-financial targets | Indicator Deals closed / Target value 62 deals / Timing Fiscal year ending May 2027, Indicator Average number of consultants / Target value 51.5 people / Timing Fiscal year ending May 2027, Indicator Deals closed per consultant / Target value 1.2 deals / Timing Fiscal year ending May 2027, Indicator New hires / Target value Net increase of approximately 10% from the end of the previous fiscal year / Timing Fiscal year ending May 2027 |
| Plan assumptions | The domestic M&A market is expected to continue expanding over the medium to long term., The annual M&A target of 60,000 deals around 2029 stated in the Small and Medium Enterprise Agency's Guidelines for M&A Support for Small and Medium-Sized Enterprises is allocated according to the distribution of deals by size., For deals with a transaction value of ¥30 million or more but less than ¥500 million, the Company assumes a deal size of ¥250 million and receipt of a minimum success fee of ¥15 million from both the seller and the buyer., For deals with a transaction value of ¥500 million or more, the Company assumes a deal size of ¥500 million and receipt of 5% of the transaction value from both the seller and the buyer. |
| Key initiatives | Operation of PEファンド.JP, a private equity fund platform, [Sales strategy] Strengthening network-based sales, [Brand strategy] Becoming the No. 1 fully success-fee-based M&A advisory firm, [Positioning strategy] Increasing market share in the small-deal segment, [Business strategy] Increasing the number of deals closed per consultant, [Human resources strategy] Recruiting high-quality personnel and accelerating their development into productive employees through training, Divisional structure, Buyer information research team, Inside sales team, Restrained new hiring |
| Reason for revision or withdrawal | Against a backdrop that included an increase in the supply of businesses for sale in the M&A market, buyers have become more cautious in evaluating and selecting deals. As a result, evaluation periods have become longer, more deals have failed to close, and the closing rate has declined. |
| Size of the Target Market | Approximately ¥700 billion annually. The Company's target market is valued at ¥761.6 billion (23,077 deals). Sources: Small and Medium Enterprise Agency, Materials from the Study Group on the Consolidation of Management Resources of Small and Medium-Sized Enterprises (published 11 November 2020), Guidelines for M&A Support for Small and Medium-Sized Enterprises (published 1 March 2020), and the Company's estimates. |
| Risks identified | Competition: Because barriers to entry are low, new entrants may increase and competition may intensify., Securing personnel: Intensifying competition in the recruitment market or an unexpected wave of departures could make it difficult to maintain the number of consultants., Laws, regulations and permits: M&A advisory services may become subject to legal regulation as a result of the enactment or amendment of laws and regulations., Information management: Information leaks or unauthorized use could result in claims for damages and damage to the Company's social credibility and brand. |
| Publication date | 30 June 2026 |
Items this document does not state (10)
Operating profit targetOperating profit margin targetROE targetROIC targetTreasury share acquisition policyCost of capitalSelf-assessment of PBR and share priceSegment targetResults 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.The supply of businesses for sale in the M&A market increased, prompting buyers to examine and select deals more cautiously. As a result, evaluation periods became longer, more deals failed to close, and the closing rate declined. Although improvement measures are being implemented, the Company expects that it will take some time for their full effects to become evident.
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.