Worth reading
55In 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
10
% (year-on-year growth in consolidated transaction volume for FY2026)Wording
Conditional
How definitive the wording is.Items stated in the management plan
Annual updateNet Sales-7,949.0pt
基準 9,975Target2,026Operating revenue: ¥ million; growth rate: %
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).
Operating profit1,341 (FY2025 actual) → Increase in operating profit planned (amount not disclosed)
Net income for the current fiscal year892 (FY2025 actual) → Increase in net income expected excluding the impact of U.S. tax cuts (amount not disclosed)
Only the target level is shown because the current level for comparison was not provided.What happened to the previous planTransaction volume 15,700 / Operating revenue 10,667 / Adjusted EBITDA 880 / Operating profit 1,030 / Ordinary income 1,035 / Net income for the current fiscal year 480 → Transaction volume 14,535 / Operating revenue 9,975 / Adjusted EBITDA 1,162 / Operating profit 1,341 / Ordinary income 1,404 / Net income for the current fiscal year 892
Key initiatives
01AI investment
02Growth of core products (interviews)
03Growth in new business areas (from research to execution)
Plan assumptionsDomestic business consulting market: ¥798.7 billion in 2024 and ¥1,283.2 billion in 2029, CAGR of +9.9% (Source: prepared by the Company based on published data from IDC Japan), Global consulting market: US$511 billion in 2025 and US$897 billion in 2034, CAGR of +6.5% (Source: prepared by the Company based on published data from Customer Market Insights), Exchange rate assumption for the FY2025 earnings forecast: ¥150, Expert Network Service market: average annual growth rate of 12% from 2023 to 2025 (Source: research by Inex One)
Segment targetSegment Domestic expert interviews (full-service model) / Indicator Number of matches / Target +8% (versus FY2025; FY2026 forecast), Segment Overseas expert interviews for domestic clients (full-service model) / Indicator Number of matches / Target +27% (versus FY2025; FY2026 forecast), Segment New business-area offerings for domestic corporate clients / Indicator Operating revenue / Target +17% (versus FY2025; FY2026 forecast)
Non-financial targetsIndicator Number of matches for domestic expert interviews (full-service model) / Target +8% / Timing FY2026 Forecast, Indicator Number of matches for overseas expert interviews for domestic clients (full-service model) / Target +27% / Timing FY2026 Forecast
Size of the Target MarketMarket Domestic business consulting market / Scale ¥798.7 billion in 2024 and ¥1,283.2 billion in 2029 / Growth rate CAGR+9.9% / Source Prepared by the Company based on published data from IDC Japan, Market Global consulting market / Scale US$511 billion in 2025 and US$897 billion in 2034 / Growth rate CAGR+6.5% / Source Prepared by the Company based on published data from Customer Market Insights, Market Domestic corporate clients TAM: research / Scale ¥3.7 trillion / Growth rate Not disclosed / Source 2025 Survey of Research and Development by the Statistics Bureau of the Ministry of Internal Affairs and Communications, and sales of the insight industry compiled by the Japan Marketing Research Association, Market Domestic corporate clients TAM: consulting / Scale More than ¥1 trillion / Growth rate Not disclosed / Source IDC Japan, “Japan Business Consulting Market Forecast, 2024–2029,” December 2025, Market Domestic corporate clients TAM: personnel expenses / Scale A portion of ¥200 trillion / Growth rate Not disclosed / Source National Tax Agency, Statistical Survey of Actual Status for Salary in the Private Sector, Market Domestic corporate clients TAM: recruitment / Scale ¥1 trillion / Growth rate Not disclosed / Source National Association of Career Information Services and Yano Research Institute
Risks identified by the company
The external environment remains uncertain (business serving overseas clients in the consulting and financial sectors)
| Item | Details |
|---|---|
| Plan name | FY2026: Growth Initiatives and Earnings Forecast |
| Plan period | Fiscal 2026 |
| Progress against the plan | Annual update |
| Sales Target | 9,975 (FY2025 actual operating revenue) → +17% (forecast growth in operating revenue for FY2026; absolute amount not disclosed)（+17%） |
| Operating profit target | 1,341 (FY2025 actual) → Increase in operating profit planned (amount not disclosed) |
| Net income target | 892 (FY2025 actual) → Increase in net income expected excluding the impact of U.S. tax cuts (amount not disclosed) |
| Segment target | Segment Domestic expert interviews (full-service model) / Indicator Number of matches / Target +8% (versus FY2025; FY2026 forecast), Segment Overseas expert interviews for domestic clients (full-service model) / Indicator Number of matches / Target +27% (versus FY2025; FY2026 forecast), Segment New business-area offerings for domestic corporate clients / Indicator Operating revenue / Target +17% (versus FY2025; FY2026 forecast) |
| Non-financial targets | Indicator Number of matches for domestic expert interviews (full-service model) / Target +8% / Timing FY2026 Forecast, Indicator Number of matches for overseas expert interviews for domestic clients (full-service model) / Target +27% / Timing FY2026 Forecast |
| Plan assumptions | Domestic business consulting market: ¥798.7 billion in 2024 and ¥1,283.2 billion in 2029, CAGR of +9.9% (Source: prepared by the Company based on published data from IDC Japan), Global consulting market: US$511 billion in 2025 and US$897 billion in 2034, CAGR of +6.5% (Source: prepared by the Company based on published data from Customer Market Insights), Exchange rate assumption for the FY2025 earnings forecast: ¥150, Expert Network Service market: average annual growth rate of 12% from 2023 to 2025 (Source: research by Inex One) |
| Key initiatives | AI investment, Growth of core products (interviews), Growth in new business areas (from research to execution) |
| Results under the previous plan | Transaction volume 15,700 / Operating revenue 10,667 / Adjusted EBITDA 880 / Operating profit 1,030 / Ordinary income 1,035 / Net income for the current fiscal year 480 → Transaction volume 14,535 / Operating revenue 9,975 / Adjusted EBITDA 1,162 / Operating profit 1,341 / Ordinary income 1,404 / Net income for the current fiscal year 892 |
| Size of the Target Market | Market Domestic business consulting market / Scale ¥798.7 billion in 2024 and ¥1,283.2 billion in 2029 / Growth rate CAGR+9.9% / Source Prepared by the Company based on published data from IDC Japan, Market Global consulting market / Scale US$511 billion in 2025 and US$897 billion in 2034 / Growth rate CAGR+6.5% / Source Prepared by the Company based on published data from Customer Market Insights, Market Domestic corporate clients TAM: research / Scale ¥3.7 trillion / Growth rate Not disclosed / Source 2025 Survey of Research and Development by the Statistics Bureau of the Ministry of Internal Affairs and Communications, and sales of the insight industry compiled by the Japan Marketing Research Association, Market Domestic corporate clients TAM: consulting / Scale More than ¥1 trillion / Growth rate Not disclosed / Source IDC Japan, “Japan Business Consulting Market Forecast, 2024–2029,” December 2025, Market Domestic corporate clients TAM: personnel expenses / Scale A portion of ¥200 trillion / Growth rate Not disclosed / Source National Tax Agency, Statistical Survey of Actual Status for Salary in the Private Sector, Market Domestic corporate clients TAM: recruitment / Scale ¥1 trillion / Growth rate Not disclosed / Source National Association of Career Information Services and Yano Research Institute |
| Risks identified | The external environment remains uncertain (business serving overseas clients in the consulting and financial sectors) |
| Publication date | 14 April 2026 |
Items this document does not state (11)
Operating profit margin targetROE targetROIC targetPayout ratio / DOE policyTreasury share acquisition policyCost of capitalSelf-assessment of PBR and share priceTotal investment planInvestment amount by sectorReason for revision or withdrawalDate 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 FY2025, the Company cited strong results in its domestic business, productivity improvements from efficient growth investment and disciplined management of head-office expenses, and a temporary reduction in the tax burden resulting from U.S. tax cuts as factors behind the increase in profit. For FY2026, it plans to pursue disciplined growth investment, leverage AI, capture growth in the domestic market, increase its share of overseas expert interviews, and grow cross-selling and human resources services in new business areas.
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