Worth reading
46Recurring
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
40
¥100 million (BRIDGE AD sales target for 10 years from now)Wording
Avoiding a definitive answer
How definitive the wording is.Items stated in the management plan
Annual updateNet Sales-99.5%
基準 2,025Target10
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.
What happened to the previous planInitial annual sales forecast of ¥100 million (BRIDGE AD) → No revenue recognized
Key initiatives
01Focus on launching and expanding the retail media platform BRIDGE AD
02Expand and strengthen the service portfolio through the rebranding and optimization of existing businesses, the development of new services, and other initiatives
03Strengthen sales activities, marketing and advertising initiatives to acquire customers and increase revenue
04Pursue M&A, partnerships and other initiatives that contribute to improved profitability and accelerated business growth
05Improve the sustainability of growth by evolving the revenue model
06Enhance the sales platform and strengthen market reach
07Achieve sustainable growth by strengthening the governance structure
08Create synergies and achieve non-linear growth, beginning with PMI
09Strengthen product capabilities as a growth driver and establish successful business models
10Strengthen revenue-generation capabilities by building a proactive sales organization
11Create synergies and strengthen earnings power through management integration (PMI)
12Governance and execution management to support the new post-integration structure
13Expand sales channels for existing services
14Promote cross-selling and upselling
15Develop new services based on market needs
16Collaborate on municipal and public-sector projects
17Develop services that customers can make their own
18Acquire and expand the beacon network
19Develop alliance partners
20Enhance the product lineup and improve functionality
Segment targetSegment name BRIDGE AD / Sales target Sales of ¥4 billion in 10 years / Profit Target Not disclosed
Non-financial targetsIndicator name Number of beacon deployment locations / Target value 40,000 locations nationwide over 10 years / Timing 10 years, Indicator name MAU / Target value 50 million over 10 years / Timing 10 years, Indicator name Engineer utilization rate / Target value 85% / Timing Not disclosed, Indicator name Stock revenue ratio / Target value At least 80% / Timing Not disclosed / Category Business KPIs
Risks identified by the company
Customer concentration risk: revenue generated from a single customer, スターサービス株式会社, accounts for 33.6% or more of consolidated revenue
Market environment risk: the risk of being driven out of the market if the company cannot differentiate itself amid intensifying competition and market saturation in the MVNO market
Reason for revision or withdrawal
The service launch was delayed until October 2025 because systems development and the execution of contracts with relevant parties took longer than expected, and monetization was pushed back substantially from the original schedule. As a result, no revenue was recognized for the fiscal year. During this period, the company conducted PoC projects and repeated validation based on customer feedback, leading it to redefine the business model. As a result of recognizing an ¥80 million impairment loss on software assets following an impairment test using more conservative assumptions, the future cost burden was reduced.
| Item | Details |
|---|---|
| Plan name | Disclosure of Matters Concerning Business Plans and Growth Potential |
| Progress against the plan | Annual update |
| Sales Target | Initial annual sales forecast of ¥100 million (FY2025, BRIDGE AD) → Sales of ¥4 billion in 10 years (BRIDGE AD) |
| Segment target | Segment name BRIDGE AD / Sales target Sales of ¥4 billion in 10 years / Profit Target Not disclosed |
| Non-financial targets | Indicator name Number of beacon deployment locations / Target value 40,000 locations nationwide over 10 years / Timing 10 years, Indicator name MAU / Target value 50 million over 10 years / Timing 10 years, Indicator name Engineer utilization rate / Target value 85% / Timing Not disclosed, Indicator name Stock revenue ratio / Target value At least 80% / Timing Not disclosed / Category Business KPIs |
| Key initiatives | Focus on launching and expanding the retail media platform BRIDGE AD, Expand and strengthen the service portfolio through the rebranding and optimization of existing businesses, the development of new services, and other initiatives, Strengthen sales activities, marketing and advertising initiatives to acquire customers and increase revenue, Pursue M&A, partnerships and other initiatives that contribute to improved profitability and accelerated business growth, Improve the sustainability of growth by evolving the revenue model, Enhance the sales platform and strengthen market reach, Achieve sustainable growth by strengthening the governance structure, Create synergies and achieve non-linear growth, beginning with PMI, Strengthen product capabilities as a growth driver and establish successful business models, Strengthen revenue-generation capabilities by building a proactive sales organization, Create synergies and strengthen earnings power through management integration (PMI), Governance and execution management to support the new post-integration structure, Expand sales channels for existing services, Promote cross-selling and upselling, Develop new services based on market needs, Collaborate on municipal and public-sector projects, Develop services that customers can make their own, Acquire and expand the beacon network, Develop alliance partners, Enhance the product lineup and improve functionality |
| Results under the previous plan | Initial annual sales forecast of ¥100 million (BRIDGE AD) → No revenue recognized |
| Reason for revision or withdrawal | The service launch was delayed until October 2025 because systems development and the execution of contracts with relevant parties took longer than expected, and monetization was pushed back substantially from the original schedule. As a result, no revenue was recognized for the fiscal year. During this period, the company conducted PoC projects and repeated validation based on customer feedback, leading it to redefine the business model. As a result of recognizing an ¥80 million impairment loss on software assets following an impairment test using more conservative assumptions, the future cost burden was reduced. |
| Risks identified | Customer concentration risk: revenue generated from a single customer, スターサービス株式会社, accounts for 33.6% or more of consolidated revenue, Market environment risk: the risk of being driven out of the market if the company cannot differentiate itself amid intensifying competition and market saturation in the MVNO market |
| Publication date | 30 March 2026 |
Items this document does not state (15)
Plan periodOperating profit targetOperating profit margin targetNet income targetROE targetROIC targetPayout ratio / DOE policyTreasury share acquisition policyCost of capitalSelf-assessment of PBR and share priceTotal investment planInvestment amount by sectorPlan assumptionsSize of the Target MarketDate 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.For the fiscal year ended December 2025, revenue declined due to a decrease in the number of contracted users of MVNE/MVNO services and weak performance in the systems development business. In addition, one-time expenses were incurred, including costs related to the share exchange with グローバルキャスト and an inventory valuation loss on AORINO. For BRIDGE AD, the start of the service and monetization were delayed because systems development and the execution of contracts with relevant parties took longer than expected, leading the company to redefine its business model.
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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.