Worth reading
73In focus
Scored from 5 of 6 sectionsDirection
Improvement
Direction inferred from the company’s description.Scale
1218
¥ millionWording
Conditional
How definitive the wording is.Contents of this document
Summary of Q&AFirst quarter of the fiscal year ending November 202611 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥1,218 million+27.3%
Operating profit¥235 million+4,167.1%
Results for the three months of the current quarterRevenue of ¥1,218 million, adjusted EBITDA of ¥255 million and operating profit of ¥235 million for the three months of the quarter
Full-year earnings forecastSpecific forecasts for revenue, adjusted EBITDA and other items are not disclosed. The company plans for approximately ¥500 million in full-year revenue from the GENIAC project.
Progress against full-year forecast 通期の予想に対して、いまどこまで進んだかの割合です。Revenue: 21.8%; adjusted EBITDA: 31.6%
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
A strong start toward achieving the annual plan. Revenue is progressing as expected. The full-year forecast remains unchanged.Key points of the Q&AKey questions raised by investors at the briefing and the company's answers
Assessment of the first quarter and progress against the full-year forecast, the use of AI and personnel and personnel expenses, note GMV, the number of note pro contracts, the GENIAC project, the partnership with KADOKAWA, the AI Context Network, the representative's sale of shares, a transfer to the Prime Market, and the possibility of a large-scale capital and business allianceBreakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
Revenue growth driven by expansion across the various businesses, productivity improvements through the use of AI, and containment of costs including personnel expenses. A breakdown by amount is not disclosed.
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
Full-year revenue of approximately ¥500 million from the GENIAC project, an increase in personnel expenses from the second quarter onward, a net increase of approximately 10–20 employees during the current fiscal year, and near-term growth of approximately 20–30% in GMV for the note businessNew initiatives
Company-wide promotion of AI use, the GENIAC project, plans to provide a RAG database, a capital and business alliance with KADOKAWA, the AI Context Network, and functionality covering approximately 7,000 KADOKAWA worksKey KPIsA metric the company considers important as a management benchmark.
Quarterly GMV of ¥6.203 billion, up 25% year on year; approximately 700,000 monthly subscribers; approximately 12 million registered members; approximately 86 million MAUs; note pro ARR of ¥780 million, up 33% year on year; ARPPU of more than ¥65,000; and a net increase of 2 note pro paid contracts from the previous quarterUnit price and quantity metricsThese figures show sales broken down by price and volume.
Approximately 700,000 monthly subscribers, approximately 12 million registered members, approximately 86 million MAUs, a net increase of 2 note pro paid contracts, and ARPPU of more than ¥65,000Segment results
Revenue from the AI-related business segment was approximately ¥14 million. Figures for the other segments are not disclosed.Medium-term management plan targets
Revenue of ¥10 billion and an EBITDA margin of 30–40% around 2028–2030. A numerical comparison with actual results is not disclosed.Financial targets
The company presented revenue of ¥10 billion and an EBITDA margin of 30–40% as its medium- to long-term financial targets for around 2028–2030. ROE and other figures are not disclosed.Number of employees
145 employees at the end of the first quarter. The company expects a net increase of approximately 10–20 employees from this level during the current fiscal year.| Item | Details |
|---|---|
| Document type | Summary of Q&A |
| Fiscal Period Covered | First quarter of the fiscal year ending November 2026 |
| Net Sales | ¥1,218 million (YoY +27.3%) |
| Operating profit | ¥235 million (YoY +4,167.1%) |
| Results for the three months of the current quarter | Revenue of ¥1,218 million, adjusted EBITDA of ¥255 million and operating profit of ¥235 million for the three months of the quarter |
| Full-year earnings forecast | Specific forecasts for revenue, adjusted EBITDA and other items are not disclosed. The company plans for approximately ¥500 million in full-year revenue from the GENIAC project. |
| Progress against full-year forecast | Revenue: 21.8%; adjusted EBITDA: 31.6% |
| Self-assessment against the plan | A strong start toward achieving the annual plan. Revenue is progressing as expected. The full-year forecast remains unchanged. |
| Segment results | Revenue from the AI-related business segment was approximately ¥14 million. Figures for the other segments are not disclosed. |
| Breakdown of Factors Affecting the Change | Revenue growth driven by expansion across the various businesses, productivity improvements through the use of AI, and containment of costs including personnel expenses. A breakdown by amount is not disclosed. |
| Key KPIs | Quarterly GMV of ¥6.203 billion, up 25% year on year; approximately 700,000 monthly subscribers; approximately 12 million registered members; approximately 86 million MAUs; note pro ARR of ¥780 million, up 33% year on year; ARPPU of more than ¥65,000; and a net increase of 2 note pro paid contracts from the previous quarter |
| Unit price and quantity metrics | Approximately 700,000 monthly subscribers, approximately 12 million registered members, approximately 86 million MAUs, a net increase of 2 note pro paid contracts, and ARPPU of more than ¥65,000 |
| Number of employees | 145 employees at the end of the first quarter. The company expects a net increase of approximately 10–20 employees from this level during the current fiscal year. |
| Assumptions Underlying the Business Outlook | Full-year revenue of approximately ¥500 million from the GENIAC project, an increase in personnel expenses from the second quarter onward, a net increase of approximately 10–20 employees during the current fiscal year, and near-term growth of approximately 20–30% in GMV for the note business |
| Medium-term management plan targets | Revenue of ¥10 billion and an EBITDA margin of 30–40% around 2028–2030. A numerical comparison with actual results is not disclosed. |
| Financial targets | The company presented revenue of ¥10 billion and an EBITDA margin of 30–40% as its medium- to long-term financial targets for around 2028–2030. ROE and other figures are not disclosed. |
| Key points of the Q&A | Assessment of the first quarter and progress against the full-year forecast, the use of AI and personnel and personnel expenses, note GMV, the number of note pro contracts, the GENIAC project, the partnership with KADOKAWA, the AI Context Network, the representative's sale of shares, a transfer to the Prime Market, and the possibility of a large-scale capital and business alliance |
| New initiatives | Company-wide promotion of AI use, the GENIAC project, plans to provide a RAG database, a capital and business alliance with KADOKAWA, the AI Context Network, and functionality covering approximately 7,000 KADOKAWA works |
Items this document does not state (13)
Ordinary incomeNet incomeGross Profit MarginOperating profit marginSelling, general and administrative expensesNumber of stores and locationsRisk amount incorporated into the outlookAnnual DividendPayout ratioAcquisition of treasury sharesCapital expendituresOrders received and order backlogMarket Size / Share
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.In addition to revenue growth driven by expansion across the various businesses, the company was able to contain increases in costs, including personnel expenses, through productivity improvements from the use of AI. The company cited the expected increase in personnel expenses as hiring progresses from the second quarter onward as the reason for leaving the full-year forecast unchanged.
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.