Worth reading
71In 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
14
¥100 million (lower end of the ¥1.4–2.1 billion operating profit target for the fiscal year ending March 2029)Wording
Conditional
How definitive the wording is.Items stated in the management plan
FormulatedNet Sales+0.1%
基準 2,026Target2,029Hundreds of millions of yen
Operating profit+0.1%
基準 2,026Target2,029Hundreds of millions of yen
Operating profit margin+3.0pt
基準 2,026Target2,029％
ROE+3.0pt
基準 2,026Target2,029％
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.
ROICNot disclosed → At least 15% (target for the fiscal year ending March 2029)
Only the target level is shown because the current level for comparison was not provided.What happened to the previous planNet Sales ¥8.3 billion / Operating profit ¥1.8 billion / Operating profit margin 22％ → Net Sales ¥6.97 billion (actual results for the fiscal year ending March 2026) / Operating profit Loss of ¥248 million (actual results for the fiscal year ending March 2026) / Operating profit margin -3.6% (actual results for the fiscal year ending March 2026)
Statements about the use of capital
Payout ratio / DOE policyThe basic policy is to maintain stable dividends, with a view to increasing dividends in stages after returning to profitability. The Company will consider dividend-level indicators such as DOE. Numerical targets for the covered period: not disclosed.The payout ratio is the proportion of profit paid out as dividends, while DOE is the ratio of dividends to net assets.
Cost of capitalShareholders’ equity cost is estimated at approximately 8–10% (rough estimate based on CAPM), and WACC at approximately 7–9%.The cost of capital is the minimum rate of return expected by shareholders and banks from the company.
Key initiatives
01Transition IT Trend to a monthly subscription business model
02Launch multiple services for business professionals
03Return the segment to profitability
04Adopt a performance-based business model for lead referrals through IT Trend
05Increase market share in Japan’s marketing automation market
Plan assumptionsNumerical assumptions for exchange rates, raw material prices, market growth rates and other factors: not disclosed. The Company recognizes the rise of generative AI, changes in information-gathering behavior, the rise of AI agents, and changes in work styles and employment as changes in the business environment.
Segment targetSegment Online Media Business (IT Trend) / Sales target Approximately ¥4.5 billion (fiscal year ending March 2029) / Profit Target Not disclosed
Size of the Target MarketMarket B2B promotional market (online media business) / TAM ¥100–200 billion (B2B lead generation) / SAM ¥60–80 billion (IT product lead generation) / Source Company estimate based on Dentsu’s Advertising Expenditures in Japan 2024, Market Recruitment and staffing market (online media business) / TAM Approximately ¥1 trillion (total fee income of private-sector employment placement agencies) / SAM Approximately ¥400–500 billion (white-collar recruitment market) / Source Ministry of Health, Labour and Welfare, “Summary of the Results of the FY2024 Employment Placement Business Report (Preliminary),” and Yano Research Institute Ltd., “Survey of the Human Resources Business Market (2024)”, Market Marketing automation tools market (IT solutions business) / TAM Approximately ¥370 billion (domestic digital marketing market) / SAM Approximately ¥70–100 billion (marketing automation tools market; Company estimate) / Source Yano Research Institute Ltd., “Survey of the Digital Marketing Market (2025)”, Market Asset management market (financial platform business) / TAM Approximately ¥1–1.7 trillion (individual investment management fee income; Company estimate) / SAM Approximately ¥15–50 billion (fee income generated through IFAs and independent advisors; Company estimate) / Source Japan Securities Dealers Association, “Trends in Individual Shareholders at the End of FY2024” (2025), and The Nikkei, “Independent Asset Management Advice Expands Rapidly, with Assets under Management Exceeding ¥3 Trillion” (2021), Market M&A advisory market (financial platform business) / TAM Approximately ¥60 billion (advisory fee income from SME M&A; Company estimate) / SAM Approximately ¥15–20 billion (SaaS and IT-focused SME segment; estimate based on data from the Company’s media platform) / Source The Nikkei, “Business Succession M&A: Latent Demand Exceeds ¥13 Trillion and Continues to Increase Through 2035” (2024)
Risks identified by the company
Item Impact on media customer acquisition from the rise of AI search / Response measures Promote the transition to monthly subscriptions. Strengthen the database as a source of information referenced by AI and shift to a revenue structure less dependent on search engines. / Likelihood of materialization High / Impact High
Item Delayed launch of the financial platform business / Response measures Promote referrals through data integration and manage the number of completed M&A transactions and assets under management at IFAs as quarterly KPIs. / Likelihood of materialization Medium / Impact High
Item Delayed demand growth in the B2E (business professional matching) area / Response measures Enter the market early with minimal resources and make investment decisions flexibly while minimizing the cost of validating demand. / Likelihood of materialization Medium / Impact Medium
Item Entry by competitors (financial and brand strength) / Response measures Differentiate the business by maintaining and strengthening multiple barriers to entry, including the database, expertise and financial licenses. / Likelihood of materialization Medium / Impact Medium
Item Deterioration in the performance of investment targets / Response measures Exclude financial investments by making integration into a circular business model an investment criterion. Upgrade the deal-sourcing process. / Likelihood of materialization High / Impact High
Reason for revision or withdrawal
Although net sales approached the target following the TOB for シャノン社, earnings fell significantly short of the plan due to the sudden change in the customer-acquisition environment for the online media business following the rise of generative AI, as well as delays in monetizing the financial platform business. Based on these lessons, this medium-term management plan adopts a basic policy of setting realistic targets that prioritize earnings recovery and shifting to a sustainable growth model centered on the core database.
| Item | Details |
|---|---|
| Plan name | Medium-Term Management Plan (Fiscal Years Ending March 2027 to March 2029) |
| Plan period | Fiscal years ending March 2027 to March 2029 (3 years) |
| Progress against the plan | Formulated |
| Sales Target | ¥6.97 billion (actual results for the fiscal year ending March 2026) → ¥10–12 billion (target for the fiscal year ending March 2029) |
| Operating profit target | Loss of ¥248 million (actual results for the fiscal year ending March 2026) → ¥1.4–2.1 billion (target for the fiscal year ending March 2029) |
| Operating profit margin target | -3.6% (actual results for the fiscal year ending March 2026) → 12–20% (target for the fiscal year ending March 2029) |
| ROE target | -14.6% (actual results for the fiscal year ending March 2026) → Approximately 24% (target for the fiscal year ending March 2029) |
| ROIC target | Not disclosed → At least 15% (target for the fiscal year ending March 2029) |
| Payout ratio / DOE policy | The basic policy is to maintain stable dividends, with a view to increasing dividends in stages after returning to profitability. The Company will consider dividend-level indicators such as DOE. Numerical targets for the covered period: not disclosed. |
| Cost of capital | Shareholders’ equity cost is estimated at approximately 8–10% (rough estimate based on CAPM), and WACC at approximately 7–9%. |
| Segment target | Segment Online Media Business (IT Trend) / Sales target Approximately ¥4.5 billion (fiscal year ending March 2029) / Profit Target Not disclosed |
| Plan assumptions | Numerical assumptions for exchange rates, raw material prices, market growth rates and other factors: not disclosed. The Company recognizes the rise of generative AI, changes in information-gathering behavior, the rise of AI agents, and changes in work styles and employment as changes in the business environment. |
| Key initiatives | Transition IT Trend to a monthly subscription business model, Launch multiple services for business professionals, Return the segment to profitability, Adopt a performance-based business model for lead referrals through IT Trend, Increase market share in Japan’s marketing automation market |
| Results under the previous plan | Net Sales ¥8.3 billion / Operating profit ¥1.8 billion / Operating profit margin 22％ → Net Sales ¥6.97 billion (actual results for the fiscal year ending March 2026) / Operating profit Loss of ¥248 million (actual results for the fiscal year ending March 2026) / Operating profit margin -3.6% (actual results for the fiscal year ending March 2026) |
| Reason for revision or withdrawal | Although net sales approached the target following the TOB for シャノン社, earnings fell significantly short of the plan due to the sudden change in the customer-acquisition environment for the online media business following the rise of generative AI, as well as delays in monetizing the financial platform business. Based on these lessons, this medium-term management plan adopts a basic policy of setting realistic targets that prioritize earnings recovery and shifting to a sustainable growth model centered on the core database. |
| Size of the Target Market | Market B2B promotional market (online media business) / TAM ¥100–200 billion (B2B lead generation) / SAM ¥60–80 billion (IT product lead generation) / Source Company estimate based on Dentsu’s Advertising Expenditures in Japan 2024, Market Recruitment and staffing market (online media business) / TAM Approximately ¥1 trillion (total fee income of private-sector employment placement agencies) / SAM Approximately ¥400–500 billion (white-collar recruitment market) / Source Ministry of Health, Labour and Welfare, “Summary of the Results of the FY2024 Employment Placement Business Report (Preliminary),” and Yano Research Institute Ltd., “Survey of the Human Resources Business Market (2024)”, Market Marketing automation tools market (IT solutions business) / TAM Approximately ¥370 billion (domestic digital marketing market) / SAM Approximately ¥70–100 billion (marketing automation tools market; Company estimate) / Source Yano Research Institute Ltd., “Survey of the Digital Marketing Market (2025)”, Market Asset management market (financial platform business) / TAM Approximately ¥1–1.7 trillion (individual investment management fee income; Company estimate) / SAM Approximately ¥15–50 billion (fee income generated through IFAs and independent advisors; Company estimate) / Source Japan Securities Dealers Association, “Trends in Individual Shareholders at the End of FY2024” (2025), and The Nikkei, “Independent Asset Management Advice Expands Rapidly, with Assets under Management Exceeding ¥3 Trillion” (2021), Market M&A advisory market (financial platform business) / TAM Approximately ¥60 billion (advisory fee income from SME M&A; Company estimate) / SAM Approximately ¥15–20 billion (SaaS and IT-focused SME segment; estimate based on data from the Company’s media platform) / Source The Nikkei, “Business Succession M&A: Latent Demand Exceeds ¥13 Trillion and Continues to Increase Through 2035” (2024) |
| Risks identified | Item Impact on media customer acquisition from the rise of AI search / Response measures Promote the transition to monthly subscriptions. Strengthen the database as a source of information referenced by AI and shift to a revenue structure less dependent on search engines. / Likelihood of materialization High / Impact High, Item Delayed launch of the financial platform business / Response measures Promote referrals through data integration and manage the number of completed M&A transactions and assets under management at IFAs as quarterly KPIs. / Likelihood of materialization Medium / Impact High, Item Delayed demand growth in the B2E (business professional matching) area / Response measures Enter the market early with minimal resources and make investment decisions flexibly while minimizing the cost of validating demand. / Likelihood of materialization Medium / Impact Medium, Item Entry by competitors (financial and brand strength) / Response measures Differentiate the business by maintaining and strengthening multiple barriers to entry, including the database, expertise and financial licenses. / Likelihood of materialization Medium / Impact Medium, Item Deterioration in the performance of investment targets / Response measures Exclude financial investments by making integration into a circular business model an investment criterion. Upgrade the deal-sourcing process. / Likelihood of materialization High / Impact High |
| Publication date | 24 June 2026 |
Items this document does not state (7)
Net income targetTreasury share acquisition policySelf-assessment of PBR and share priceTotal investment planInvestment amount by sectorNon-financial targetsDate 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.Under the previous medium-term management plan, net sales approached the target following the TOB for シャノン社, but earnings fell significantly short of the plan due to the sudden change in the customer-acquisition environment for the online media business following the rise of generative AI, as well as delays in monetizing the financial platform business. Based on these lessons, the Company established realistic targets that prioritize earnings recovery and adopted a basic policy of shifting to a sustainable growth model centered on its core database.
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.