Worth reading
66In 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
10300
¥ millionWording
Conditional
How definitive the wording is.Items stated in the management plan
FormulatedNet Sales+56.7%
基準 6,574Target10,300million
Operating profit+51.5%
基準 1,320Target2,000million
Operating profit margin-0.7pt
基準 20.1Target19.4%
ROE+6.3pt
基準 18.7Target25%
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.
Total investment plan¥5 billion (¥3 billion for investments including M&A and ¥2 billion for growth investments)
Investment amount by sectorField M&A and other investments / Amount ¥3 billion, Field Growth Investment / Amount ¥2 billion, Field Marketing-related expenses (advertising and promotional expenses) / Amount ¥1.4 billion, Field B2B network infrastructure-related investments / Amount ¥200 million, Field Personnel and development expenses / Amount ¥400 million
Statements about the use of capital
Payout ratio / DOE policyThe policy will apply for the 4 fiscal years from the fiscal year ending April 2026 through the fiscal year ending April 2029, with a basic target payout ratio of 45–50%. Progressive dividends will establish a minimum dividend of ¥22 per share, while profit-linked additional dividends based on consolidated payout ratios of 60% and 70% will apply to profits exceeding specified thresholds. 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.
Treasury share acquisition policyTo be conducted flexibly
Key initiatives
01Convert customers into group-wide customers and generate cross-selling opportunities
02Accelerate growth of existing services
03Increase the number of group services
04Strengthen the customer base (increase the number of customers and average spend per customer)
05Expand platform functionality (strengthen products)
06Establish wholesale infrastructure (improve the efficiency of transactions outside Super Delivery)
07Expand the base (increase the number of customers)
08Expand usage (increase ARPU and LTV)
09Strengthen service functionality
10Creating new services
11Clarifying target areas and actively sourcing M&A and alliance opportunities.
Plan assumptionsRevenue and profit expected from new services and the B2B network are not included. In the fiscal year ending April 2027, profit is expected to decline temporarily as costs precede revenue, but from the following fiscal year onward, the effects of investment are expected to accelerate revenue growth and drive a recovery and expansion in profit.
Segment targetSegment EC business: Super Delivery / Indicator Gross merchandise value (GMV) / Fiscal year ended April 2026 results ¥30,986 million / Plan for the fiscal year ending April 2029 ¥48,650 million / Growth rate CAGR＋16.2%, Segment EC business: Super Delivery (Japan) / Indicator Gross merchandise value (GMV) / Fiscal year ended April 2026 results ¥22,824 million / Plan for the fiscal year ending April 2029 ¥35,410 million / Growth rate CAGR＋15.8%, Segment EC business: Super Delivery (overseas) / Indicator Gross merchandise value (GMV) / Fiscal year ended April 2026 results ¥8,161 million / Plan for the fiscal year ending April 2029 ¥13,240 million / Growth rate CAGR＋17.5%, Segment Financial business: Paid / Indicator Transaction Value / Fiscal year ended April 2026 results ¥46,505 million / Plan for the fiscal year ending April 2029 ¥87,818 million / Growth rate CAGR＋23.6%, Segment Financial business: Paid / Indicator Revenue / Fiscal year ended April 2026 results ¥1,110 million / Plan for the fiscal year ending April 2029 ¥2,112 million / Growth rate CAGR＋23.9%, Segment Financial business: URIHO / Indicator Revenue / Fiscal year ended April 2026 results ¥1,563 million / Plan for the fiscal year ending April 2029 ¥2,324 million / Growth rate CAGR＋14.1%, Segment Financial business: URIHO subscription service / Indicator Revenue / Fiscal year ended April 2026 results ¥933 million / Plan for the fiscal year ending April 2029 ¥1,650 million / Growth rate CAGR＋20.9%
Non-financial targetsIndicator Super Delivery buyers (Q4) / Fiscal year ended April 2026 results 39,089 businesses / Plan for the fiscal year ending April 2029 60,588 businesses / Growth rate CAGR＋15.7%, Indicator Monthly paying customers of the URIHO subscription service / Fiscal year ended April 2026 results 1,712 / Plan for the fiscal year ending April 2029 3,158 / Growth rate CAGR＋22.6%
Size of the Target MarketScale TAM (group customers): approximately 5 million companies in Japan / Growth rate Not disclosed / Source Estimate of the number of target companies among those registered with corporate numbers. In addition to the estimate, overseas businesses are also considered as potential targets.
Risks identified by the company
Macroeconomic trends
Market Environment
Trends in industries related to the Company
Other internal and external factors
Reason for revision or withdrawal
On 28 November 2025, the Company entered into a business partnership agreement with Advantage Partners Co., Ltd. and decided to pursue initiatives to accelerate its growth strategy and strengthen execution capabilities. In response, the Company formulated a new Medium-Term Management Plan (Fiscal Years Ending April 2027 to April 2029) reflecting the strengthened growth strategy resulting from the business partnership.
| Item | Details |
|---|---|
| Plan name | Medium-Term Management Plan (Fiscal Years Ending April 2027 to April 2029) |
| Plan period | Fiscal years ending April 2027 to April 2029 |
| Progress against the plan | Formulated |
| Sales Target | ¥6,574 million → ¥10,300 million（CAGR＋16.1%） |
| Operating profit target | ¥1,320 million → ¥2,000 million（CAGR＋14.8%） |
| Operating profit margin target | 20.1 % → 19.4 % |
| ROE target | 18.7 % → 25.0 % |
| Payout ratio / DOE policy | The policy will apply for the 4 fiscal years from the fiscal year ending April 2026 through the fiscal year ending April 2029, with a basic target payout ratio of 45–50%. Progressive dividends will establish a minimum dividend of ¥22 per share, while profit-linked additional dividends based on consolidated payout ratios of 60% and 70% will apply to profits exceeding specified thresholds. DOE: Not disclosed. |
| Treasury share acquisition policy | To be conducted flexibly |
| Total investment plan | ¥5 billion (¥3 billion for investments including M&A and ¥2 billion for growth investments) |
| Investment amount by sector | Field M&A and other investments / Amount ¥3 billion, Field Growth Investment / Amount ¥2 billion, Field Marketing-related expenses (advertising and promotional expenses) / Amount ¥1.4 billion, Field B2B network infrastructure-related investments / Amount ¥200 million, Field Personnel and development expenses / Amount ¥400 million |
| Segment target | Segment EC business: Super Delivery / Indicator Gross merchandise value (GMV) / Fiscal year ended April 2026 results ¥30,986 million / Plan for the fiscal year ending April 2029 ¥48,650 million / Growth rate CAGR＋16.2%, Segment EC business: Super Delivery (Japan) / Indicator Gross merchandise value (GMV) / Fiscal year ended April 2026 results ¥22,824 million / Plan for the fiscal year ending April 2029 ¥35,410 million / Growth rate CAGR＋15.8%, Segment EC business: Super Delivery (overseas) / Indicator Gross merchandise value (GMV) / Fiscal year ended April 2026 results ¥8,161 million / Plan for the fiscal year ending April 2029 ¥13,240 million / Growth rate CAGR＋17.5%, Segment Financial business: Paid / Indicator Transaction Value / Fiscal year ended April 2026 results ¥46,505 million / Plan for the fiscal year ending April 2029 ¥87,818 million / Growth rate CAGR＋23.6%, Segment Financial business: Paid / Indicator Revenue / Fiscal year ended April 2026 results ¥1,110 million / Plan for the fiscal year ending April 2029 ¥2,112 million / Growth rate CAGR＋23.9%, Segment Financial business: URIHO / Indicator Revenue / Fiscal year ended April 2026 results ¥1,563 million / Plan for the fiscal year ending April 2029 ¥2,324 million / Growth rate CAGR＋14.1%, Segment Financial business: URIHO subscription service / Indicator Revenue / Fiscal year ended April 2026 results ¥933 million / Plan for the fiscal year ending April 2029 ¥1,650 million / Growth rate CAGR＋20.9% |
| Non-financial targets | Indicator Super Delivery buyers (Q4) / Fiscal year ended April 2026 results 39,089 businesses / Plan for the fiscal year ending April 2029 60,588 businesses / Growth rate CAGR＋15.7%, Indicator Monthly paying customers of the URIHO subscription service / Fiscal year ended April 2026 results 1,712 / Plan for the fiscal year ending April 2029 3,158 / Growth rate CAGR＋22.6% |
| Plan assumptions | Revenue and profit expected from new services and the B2B network are not included. In the fiscal year ending April 2027, profit is expected to decline temporarily as costs precede revenue, but from the following fiscal year onward, the effects of investment are expected to accelerate revenue growth and drive a recovery and expansion in profit. |
| Key initiatives | Convert customers into group-wide customers and generate cross-selling opportunities, Accelerate growth of existing services, Increase the number of group services, Strengthen the customer base (increase the number of customers and average spend per customer), Expand platform functionality (strengthen products), Establish wholesale infrastructure (improve the efficiency of transactions outside Super Delivery), Expand the base (increase the number of customers), Expand usage (increase ARPU and LTV), Strengthen service functionality, Creating new services, Clarifying target areas and actively sourcing M&A and alliance opportunities. |
| Reason for revision or withdrawal | On 28 November 2025, the Company entered into a business partnership agreement with Advantage Partners Co., Ltd. and decided to pursue initiatives to accelerate its growth strategy and strengthen execution capabilities. In response, the Company formulated a new Medium-Term Management Plan (Fiscal Years Ending April 2027 to April 2029) reflecting the strengthened growth strategy resulting from the business partnership. |
| Size of the Target Market | Scale TAM (group customers): approximately 5 million companies in Japan / Growth rate Not disclosed / Source Estimate of the number of target companies among those registered with corporate numbers. In addition to the estimate, overseas businesses are also considered as potential targets. |
| Risks identified | Macroeconomic trends, Market Environment, Trends in industries related to the Company, Other internal and external factors |
| Publication date | 11 June 2026 |
Items this document does not state (6)
Net income targetROIC targetCost 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.The Company entered into a business partnership agreement with Advantage Partners Co., Ltd. on 28 November 2025 and will pursue initiatives to accelerate its growth strategy and strengthen execution capabilities. The strengthened growth strategy resulting from the business partnership has been incorporated into the new medium-term management plan.
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