Worth reading
47Recurring
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
338
¥ millionWording
Avoiding a definitive answer
How definitive the wording is.Items stated in the management plan
Annual updateNet Sales+10.0%
基準 3,379Target3,717million
Operating profit+0.0%
基準 2,026Target2,027million
Net income for the current fiscal year+0.0%
基準 2,026Target2,027million
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.
Operating profit marginFiscal 2026 results: -3.9% → Not disclosed
ROEFiscal 2026 results: 6.4% → Not disclosed
Only the target level is shown because the current level for comparison was not provided.What happened to the previous planFiscal 2026 and revised plan announced in August 2026: revenue 3,321, operating loss -123, net income 0 → Fiscal 2026 results: revenue 3,379, operating loss -132, net income 56+1.7%Calculated from the two disclosed figures
Key initiatives
01Expansion of Manga BANG! (including the web version)
02Strengthening of manga production and IP expansion
03Expansion of Fandom Tokyo
04Expansion of the IT Solutions Business
05Expansion of AI-related businesses
Plan assumptionsMAU is assumed to decline at the same level in the fiscal year ending September 2027, based on the downward trend in the fiscal year ended September 2026., Daily advertising revenue is assumed to remain at a level calculated by applying a conservative factor to the level in the fiscal year ended September 2026., Usage days, payment rate and ARPPU are assumed to remain at the same levels as in the fiscal year ended September 2026., Fandom Tokyo is assumed to remain at the same level as in the fiscal year ended September 2026, taking into account fluctuations in performance arising from the timing of large-ticket product launches., SES is calculated based on confirmed projects.
Size of the Target MarketThe 2025 e-book market, including e-books and digital magazines, was ¥684.6 billion, up 2.1% year on year. Source: Impress Research Institute, “2025 E-Book Business Survey Report” and “2026 E-Book Business Survey Report”
Risks identified by the company
Information security risk (likelihood: high; timing: ongoing; impact: medium)
Trends among platform operators (likelihood: medium; timing: ongoing; impact: high)
Foreign exchange risk (likelihood: high; timing: ongoing; impact: low to medium)
“Intellectual property infringement,” “impact of competitors” and “business characteristics of manga app services,” which were included previously, were removed because their incremental impact on the growth plan had become relatively less significant.
Reason for revision or withdrawal
Because the external environment for the e-book industry is undergoing significant change, the company considers creative and flexible management important and has determined that, at this time, it is appropriate not to publish a medium-term management plan.
| Item | Details |
|---|---|
| Plan name | Fiscal 2027 Business Plan |
| Plan period | Fiscal year ending September 2027 |
| Progress against the plan | Annual update |
| Sales Target | Fiscal 2026 results: 3,379 → Fiscal 2027 plan: 3,717（+10.0%） |
| Operating profit target | Fiscal 2026 results: -132 → Fiscal 2027 plan: 0 |
| Operating profit margin target | Fiscal 2026 results: -3.9% → Not disclosed |
| Net income target | Fiscal 2026 results: 56 → Fiscal 2027 plan: 55 |
| ROE target | Fiscal 2026 results: 6.4% → Not disclosed |
| Plan assumptions | MAU is assumed to decline at the same level in the fiscal year ending September 2027, based on the downward trend in the fiscal year ended September 2026., Daily advertising revenue is assumed to remain at a level calculated by applying a conservative factor to the level in the fiscal year ended September 2026., Usage days, payment rate and ARPPU are assumed to remain at the same levels as in the fiscal year ended September 2026., Fandom Tokyo is assumed to remain at the same level as in the fiscal year ended September 2026, taking into account fluctuations in performance arising from the timing of large-ticket product launches., SES is calculated based on confirmed projects. |
| Key initiatives | Expansion of Manga BANG! (including the web version), Strengthening of manga production and IP expansion, Expansion of Fandom Tokyo, Expansion of the IT Solutions Business, Expansion of AI-related businesses |
| Results under the previous plan | Fiscal 2026 and revised plan announced in August 2026: revenue 3,321, operating loss -123, net income 0 → Fiscal 2026 results: revenue 3,379, operating loss -132, net income 56 |
| Reason for revision or withdrawal | Because the external environment for the e-book industry is undergoing significant change, the company considers creative and flexible management important and has determined that, at this time, it is appropriate not to publish a medium-term management plan. |
| Size of the Target Market | The 2025 e-book market, including e-books and digital magazines, was ¥684.6 billion, up 2.1% year on year. Source: Impress Research Institute, “2025 E-Book Business Survey Report” and “2026 E-Book Business Survey Report” |
| Risks identified | Information security risk (likelihood: high; timing: ongoing; impact: medium), Trends among platform operators (likelihood: medium; timing: ongoing; impact: high), Foreign exchange risk (likelihood: high; timing: ongoing; impact: low to medium), “Intellectual property infringement,” “impact of competitors” and “business characteristics of manga app services,” which were included previously, were removed because their incremental impact on the growth plan had become relatively less significant. |
| Publication date | 12 November 2026 |
Items this document does not state (10)
ROIC targetPayout ratio / DOE policyTreasury share acquisition policyCost of capitalSelf-assessment of PBR and share priceTotal investment planInvestment amount by sectorSegment targetNon-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.To strengthen the earnings base through higher manga production sales and profit contributions from the SES business, including the full-year contribution from リーデックス and expansion of the existing business. In addition, given the significant changes in the external environment for the e-book industry, the company has determined that it is appropriate not to publish a medium-term management plan.
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.