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
955
¥ million (reduction in the net sales target for the fiscal year ending May 2028)Wording
Conditional
How definitive the wording is.Items stated in the management plan
Partially revisedNet Sales+21.9%
基準 2,862Target3,490million
Operating profit+0.1%
基準 2,026Target2,029million
Operating profit margin+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.
Net income for the current fiscal year34 (actual for the fiscal year ended May 2026) → Not disclosed
Only the target level is shown because the current level for comparison was not provided.What happened to the previous planNet Sales 3,223 / Operating profit 82 / Ordinary income 77 / Net income for the current fiscal year 53 → Net Sales 2,862 / Operating profit 64 / Ordinary income 54 / Net income for the current fiscal year 34（Net Sales 88.8% (achievement rate) / Operating profit 78.4% (achievement rate) / Ordinary income 70.0% (achievement rate) / Net income for the current fiscal year 64.0% (achievement rate)）
Key initiatives
01Become an AI-native organization
02B2B: target mid-sized customers early
03Acquire customers graduating from marketplaces
04Upsell AI features
05Expand GMV: new pricing plans and expanded functionality
06Expand the business domain: develop and expand sales of B2B-specific functionality
07Expand the customer base: establish an enterprise sales organization
08Phase 1: establish a foothold with standard services
09Phase 2: launch an AI agent specialized for EC
10Expand sales channels through partner alliances
11Establish a cycle from order intake to implementation to incorporation into standard functionality
Plan assumptionsAverage annual growth of 8.3% from the fiscal year ending May 2027, Review of pricing plans and recovery in contract development, Raise average selling prices and sales through the launch of new products, Strengthen the sales organization and expand sales through partners, Expand the partner network and improve gross margins, Launch full-scale sales of EBISU PIM, New businesses entering the monetization phase, Continuously review the cost structure
Segment targetSegment Cloud Commerce Platform Business / Sales Target Fiscal year ending May 2027 ¥2,767 million / Fiscal year ending May 2028 ¥2,870 million / Fiscal year ending May 2029 ¥3,120 million / Operating profit target Not disclosed, Segment EC Business Growth Support Business / Sales Target Fiscal year ending May 2027 ¥140 million / Fiscal year ending May 2028 ¥175 million / Fiscal year ending May 2029 ¥219 million / Operating profit target Not disclosed, Segment Data Utilization Platform Business / Sales Target Fiscal year ending May 2027 ¥70 million / Fiscal year ending May 2028 ¥100 million / Fiscal year ending May 2029 ¥150 million / Operating profit target Not disclosed
Size of the Target MarketMarket Domestic B2C EC market / Scale Approximately ¥26 trillion (2024) / Growth rate Up 5.1% year on year / Source Ministry of Economy, Trade and Industry, "FY2024 Digital Transaction Environment Development Project: Survey Report on the Electronic Commerce Market", Market Domestic B2B EC market / Scale Approximately ¥514 trillion / E-commerce penetration rate 43% / Source Ministry of Economy, Trade and Industry, "FY2024 Digital Transaction Environment Development Project: Survey Report on the Electronic Commerce Market", Market Global PIM market / Scale $18–21 billion in 2025; $33–37 billion in 2030 / Growth rate CAGR 15～20% / Source Estimated and reconstructed from various reports, including those by ITR and Grand View Research, Market Japanese PIM market / Scale ¥69.6 billion for maintenance; ¥278.4 billion for standard solutions / Growth rate CAGR 12.8% / Source Estimated and reconstructed from various reports, including those by ITR and Grand View Research
Risks identified by the company
Trends in the EC market
Dependence on specific services
System failures and communications issues
Risks arising from inadequate information security measures
Reason for revision or withdrawal
The plan has been revised because system contract development activity and sales in the fiscal year ending May 2026 were lower than expected, and the timing of the full-scale launch of sales related to new businesses was also delayed. With respect to the fiscal year ending May 2028 plan of ¥389 million in operating income, representing an operating margin of 9.5%, the plan has been revised to reflect the impact of the decline in system contract development sales in the fiscal year ending May 2026.
| Item | Details |
|---|---|
| Plan name | Medium-Term Business Plan (Fiscal Years Ending May 2027–May 2029) |
| Plan period | Fiscal years ending May 2027–May 2029 |
| Progress against the plan | Partially revised |
| Sales Target | 2,862 (actual for the fiscal year ended May 2026) → 3,490 (plan for the fiscal year ending May 2029)（8.3% (three-year CAGR from the fiscal year ending May 2027 plan)） |
| Operating profit target | 64 (actual for the fiscal year ended May 2026) → 420 (plan for the fiscal year ending May 2029) |
| Operating profit margin target | 2.2% (actual for the fiscal year ended May 2026) → 12.0% (plan for the fiscal year ending May 2029) |
| Net income target | 34 (actual for the fiscal year ended May 2026) → Not disclosed |
| Segment target | Segment Cloud Commerce Platform Business / Sales Target Fiscal year ending May 2027 ¥2,767 million / Fiscal year ending May 2028 ¥2,870 million / Fiscal year ending May 2029 ¥3,120 million / Operating profit target Not disclosed, Segment EC Business Growth Support Business / Sales Target Fiscal year ending May 2027 ¥140 million / Fiscal year ending May 2028 ¥175 million / Fiscal year ending May 2029 ¥219 million / Operating profit target Not disclosed, Segment Data Utilization Platform Business / Sales Target Fiscal year ending May 2027 ¥70 million / Fiscal year ending May 2028 ¥100 million / Fiscal year ending May 2029 ¥150 million / Operating profit target Not disclosed |
| Plan assumptions | Average annual growth of 8.3% from the fiscal year ending May 2027, Review of pricing plans and recovery in contract development, Raise average selling prices and sales through the launch of new products, Strengthen the sales organization and expand sales through partners, Expand the partner network and improve gross margins, Launch full-scale sales of EBISU PIM, New businesses entering the monetization phase, Continuously review the cost structure |
| Key initiatives | Become an AI-native organization, B2B: target mid-sized customers early, Acquire customers graduating from marketplaces, Upsell AI features, Expand GMV: new pricing plans and expanded functionality, Expand the business domain: develop and expand sales of B2B-specific functionality, Expand the customer base: establish an enterprise sales organization, Phase 1: establish a foothold with standard services, Phase 2: launch an AI agent specialized for EC, Expand sales channels through partner alliances, Establish a cycle from order intake to implementation to incorporation into standard functionality |
| Results under the previous plan | Net Sales 3,223 / Operating profit 82 / Ordinary income 77 / Net income for the current fiscal year 53 → Net Sales 2,862 / Operating profit 64 / Ordinary income 54 / Net income for the current fiscal year 34（Net Sales 88.8% (achievement rate) / Operating profit 78.4% (achievement rate) / Ordinary income 70.0% (achievement rate) / Net income for the current fiscal year 64.0% (achievement rate)） |
| Reason for revision or withdrawal | The plan has been revised because system contract development activity and sales in the fiscal year ending May 2026 were lower than expected, and the timing of the full-scale launch of sales related to new businesses was also delayed. With respect to the fiscal year ending May 2028 plan of ¥389 million in operating income, representing an operating margin of 9.5%, the plan has been revised to reflect the impact of the decline in system contract development sales in the fiscal year ending May 2026. |
| Size of the Target Market | Market Domestic B2C EC market / Scale Approximately ¥26 trillion (2024) / Growth rate Up 5.1% year on year / Source Ministry of Economy, Trade and Industry, "FY2024 Digital Transaction Environment Development Project: Survey Report on the Electronic Commerce Market", Market Domestic B2B EC market / Scale Approximately ¥514 trillion / E-commerce penetration rate 43% / Source Ministry of Economy, Trade and Industry, "FY2024 Digital Transaction Environment Development Project: Survey Report on the Electronic Commerce Market", Market Global PIM market / Scale $18–21 billion in 2025; $33–37 billion in 2030 / Growth rate CAGR 15～20% / Source Estimated and reconstructed from various reports, including those by ITR and Grand View Research, Market Japanese PIM market / Scale ¥69.6 billion for maintenance; ¥278.4 billion for standard solutions / Growth rate CAGR 12.8% / Source Estimated and reconstructed from various reports, including those by ITR and Grand View Research |
| Risks identified | Trends in the EC market, Dependence on specific services, System failures and communications issues, Risks arising from inadequate information security measures |
Items this document does not state (11)
ROE targetROIC targetPayout ratio / DOE policyTreasury share acquisition policyCost of capitalSelf-assessment of PBR and share priceTotal investment planInvestment amount by sectorNon-financial targetsDate of board resolutionPublication date
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.System contract development activity and sales in the fiscal year ending May 2026 were lower than expected, and the timing of the full-scale launch of sales related to new businesses was also delayed. The company stated that the operating income target was revised to reflect the impact of the decline in system contract development sales.
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