Transcript of the Results Briefing for the Fiscal Year Ending March 2026 | ITmedia Inc. (2148) timely disclosure

Worth reading

75Important

Scored from 5 of 6 sections

Direction

Mixed performance

Direction inferred from the company’s description.

Scale

2.63

¥100 million (decrease in operating income)

Wording

Avoiding a definitive answer

How definitive the wording is.

Contents of this document

Earnings briefing transcriptFiscal year ending March 202611 items taken from the company’s own explanation

Financial Results Figures (The key points of this material are explained below)

Net income

Year on year against the same period last year-20.4%

Full-year earnings forecast

Revenue

92 Hundred millions of yen

Profit at each stageDouble-digit growth expected; amounts by line item not disclosed

What the company explained in this material

Key points of the Q&AKey questions raised by investors at the briefing and the company's answers

Questions Outlook for revenue and operating profit by division in the current fiscal year / Answer Specific figures were not disclosed. Strong growth is expected in the BtoC Media Business, while the outlook for the BtoB Media Business is conservative.
Questions Media outlets showing growth / Answer In terms of financial performance, Netorabo grew significantly.
Questions Drivers of Netorabo's growth / Answer The company increased advertising value per page by reducing low-priced articles and adopting an editorial strategy focused on content with high advertising value.
Questions Main driver of profit growth in the current fiscal year / Answer The earnings forecast was prepared conservatively, and solid growth is also expected in the BtoB Media Business.
Questions Synergies with M&A targets / Answer The company has begun selling research reports and introducing services from Pi Pi Communications, as well as reciprocal sales with Majisemi.

Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.

Increase in revenue2.1 Hundred millions of yen
Cost increase4.74 Hundred millions of yen
Decrease in operating profit2.63 Hundred millions of yen

Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.

BtoB Media Business
AssumptionsSpending by major customers, particularly global vendors, is expected to remain somewhat soft
Windows 10 end-of-support special demand
AssumptionsThe PC replacement demand seen in the previous fiscal year is expected to drop out in the current fiscal year

New initiatives

Pi Pi Communications became a subsidiary in October 2025
Majisemi became a subsidiary on 1 April 2026
Reciprocal sales and cross-selling with Majisemi
Introduction of adjusted EBITDA
Advancement of a data-driven media-plus business adapted to the AI era

Key KPIsA metric the company considers important as a management benchmark.

BtoB Media Business customersApproximately unchanged year on year
BtoB Media Business average customer spending
Year on year against the same period last year-3.3%
BtoC Media Business page viewsDecreased
BtoC Media Business advertising rates
Year on year against the same period last year+40.5%
Annual transacting customers2,700 companies
Membership200 10,000 people

Unit price and quantity metricsThese figures show sales broken down by price and volume.

Volume indicatorBtoB Media Business customers
Price indicatorAverage Revenue per Customer
Year-on-year change in volumeApproximately unchanged year on year
Year-on-year change in price-3.3
Volume indicatorBtoC Media Business page views
Price indicatorAdvertising unit price
Year-on-year change in volumeDecreased
Year-on-year change in price40.5

Segment results

BtoB Media Business

Revenue

Year on year against the same period last year-0.2%

Operating profit

Year on year against the same period last year-29.1%

BtoC Media Business

Revenue

Year on year against the same period last year+15.1%

Operating profit

Year on year against the same period last year+72.0%

Medium-term management plan targets

TargetEPS of ¥140
Target fiscal yearFiscal 2029
TargetOperating profit of approximately ¥4 billion
Target fiscal yearFiscal 2029

Number of employees

Number of Employees460 people

Annual Dividend

Annual dividend amount¥50 per share

BreakdownInterim and year-end breakdown: Not disclosed

Payout ratio

Rate70 %

Contents of this document
Item	Details
Document type	Earnings briefing transcript
Fiscal Period Covered	Fiscal year ending March 2026
Net income	value Not disclosed / yoy_pct -20.4
Full-year earnings forecast	Revenue 92 Hundred millions of yen / Profit at each stage Double-digit growth expected; amounts by line item not disclosed
Segment results	BtoB Media Business Revenue yoy_pct -0.2 / Operating profit yoy_pct -29.1 / BtoC Media Business Revenue yoy_pct 15.1 / Operating profit yoy_pct 72
Breakdown of Factors Affecting the Change	Factors Increase in revenue / Amount 2.1 Hundred millions of yen, Factors Cost increase / Amount 4.74 Hundred millions of yen, Factors Decrease in operating profit / Amount 2.63 Hundred millions of yen
Key KPIs	Indicator name BtoB Media Business customers / Value Approximately unchanged year on year / Year on year against the same period last year Not disclosed, Indicator name BtoB Media Business average customer spending / Value Not disclosed / Year on year against the same period last year -3.3, Indicator name BtoC Media Business page views / Value Decreased / Year on year against the same period last year Not disclosed, Indicator name BtoC Media Business advertising rates / Value Not disclosed / Year on year against the same period last year 40.5, Indicator name Annual transacting customers / Value 2,700 companies / Year on year against the same period last year Not disclosed, Indicator name Membership / Value 200 10,000 people / Year on year against the same period last year Not disclosed
Unit price and quantity metrics	Volume indicator BtoB Media Business customers / Price indicator Average Revenue per Customer / Year-on-year change in volume Approximately unchanged year on year / Year-on-year change in price -3.3, Volume indicator BtoC Media Business page views / Price indicator Advertising unit price / Year-on-year change in volume Decreased / Year-on-year change in price 40.5
Number of employees	Number of Employees 460 people / Change during the period Not disclosed
Assumptions Underlying the Business Outlook	Item BtoB Media Business / Assumptions Spending by major customers, particularly global vendors, is expected to remain somewhat soft, Item Windows 10 end-of-support special demand / Assumptions The PC replacement demand seen in the previous fiscal year is expected to drop out in the current fiscal year
Medium-term management plan targets	Target EPS of ¥140 / Target fiscal year Fiscal 2029, Target Operating profit of approximately ¥4 billion / Target fiscal year Fiscal 2029
Annual Dividend	Annual dividend amount ¥50 per share / Breakdown Interim and year-end breakdown: Not disclosed
Payout ratio	Rate 70 %
Key points of the Q&A	Questions Outlook for revenue and operating profit by division in the current fiscal year / Answer Specific figures were not disclosed. Strong growth is expected in the BtoC Media Business, while the outlook for the BtoB Media Business is conservative., Questions Media outlets showing growth / Answer In terms of financial performance, Netorabo grew significantly., Questions Drivers of Netorabo's growth / Answer The company increased advertising value per page by reducing low-priced articles and adopting an editorial strategy focused on content with high advertising value., Questions Main driver of profit growth in the current fiscal year / Answer The earnings forecast was prepared conservatively, and solid growth is also expected in the BtoB Media Business., Questions Synergies with M&A targets / Answer The company has begun selling research reports and introducing services from Pi Pi Communications, as well as reciprocal sales with Majisemi.
New initiatives	Pi Pi Communications became a subsidiary in October 2025, Majisemi became a subsidiary on 1 April 2026, Reciprocal sales and cross-selling with Majisemi, Introduction of adjusted EBITDA, Advancement of a data-driven media-plus business adapted to the AI era

Items this document does not state (16)

Net SalesOperating profitOrdinary incomeGross Profit MarginOperating profit marginSelling, general and administrative expensesResults for the three months of the current quarterProgress against full-year forecastSelf-assessment against the planNumber of stores and locationsRisk amount incorporated into the outlookFinancial targetsAcquisition of treasury sharesCapital expendituresOrders received and order backlogMarket Size / Share

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.

In the BtoB Media Business, advertising spending declined and average customer spending fell as SaaS companies shifted their focus toward profitability. In addition, costs increased for system enhancements, the 25th-anniversary event and two M&A-related expenses, outpacing the increase in revenue.

How to read this page

This is not the documentKomori reads the disclosure the company filed and writes this summary. Figures are as stated by the company and are not audited.

Weight is not a verdictIt measures how much this changes what the company had already told the market. It is not a view on the shares.

Corrections happenIf the company reissues this disclosure, the page is rebuilt from the corrected version and the revision number moves up.