Worth reading
46Recurring
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
-10.3
% (year-on-year change in net income attributable to owners of the parent)Wording
Avoiding a definitive answer
How definitive the wording is.Items stated in the management plan
Annual updateNet Sales+5.4%
基準 7,115Target7,500million
Operating profit+0.0%
基準 2,025Target2,026million
Net income for the current fiscal year+0.0%
基準 2,025Target2,026million
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 margin12.6% (actual results for the fiscal year ended December 2025) → Not disclosed
Only the target level is shown because the current level for comparison was not provided.What happened to the previous planRevenue 7,000, operating profit 915, ordinary profit 900, net income attributable to owners of the parent 660 (full-year plan for 2025) → Revenue 7,115 (achievement rate: 101.6%), operating profit 901 (achievement rate: 98.5%), ordinary profit 896 (achievement rate: 99.6%), net income attributable to owners of the parent 646 (achievement rate: 98.0%) (2025 actual results)+1.6%Calculated from the two disclosed figures
Statements about the use of capital
Payout ratio / DOE policyThe basic policy is to maintain a payout ratio of at least 65%, while introducing a 5% DOE (dividend on equity attributable to owners of the parent) as the lower-bound metric. The higher dividend amount under the two criteria will be adopted. The applicable period is not specified.The payout ratio is the proportion of profit paid out as dividends, while DOE is the ratio of dividends to net assets.
Key initiatives
01Initiatives under the DX strategy
02From flow businesses to stock businesses
03Growth strategy: points-related businesses and industry-specific businesses (education and aesthetic medicine)
04Growth strategy: compounding growth strategy for industry-specific businesses (education and aesthetic medicine)
05Growth strategy: industry-specific stock and transaction businesses
06Growth strategy: shifting the business structure toward businesses with high profit margins and growth rates
07Growth strategy: partnership-building (M&A) strategy
08Entering new fields: the LINE Mini App market
09Support for LINE Mini Apps (advertising games)
Plan assumptionsThe fiscal year ending December 2026 incorporates accounting factors associated with the elimination of ビューティ社's negative net worth., Growth in the points-earning market will support expansion from web media into apps and LINE Mini Apps., The GIGA School Initiative is entering the "Next GIGA" phase as devices reach their replacement cycle., The aesthetic medicine market is expanding, although in some areas, consolidation resulting from excess supply has begun.
Size of the Target MarketInternet advertising: 50.2% of total advertising expenditure; internet advertising media expenditure was 111.8% of the previous year's level. Source: Dentsu, "Advertising Expenditures in Japan for 2025.", Forecast for the size of Japan's points services market: unit is ¥100 million. Source: Yano Research Institute, "Survey of the Points Services Market (2025).", Historical and forecast market size of Japan's e-learning market. Source: Yano Research Institute, "Survey of the E-Learning Market (2025).", Historical market size of the aesthetic medicine market: unit is ¥ million. Source: Yano Research Institute, "Survey of the Aesthetic Medicine Market (2025)."
Risks identified by the company
Internet advertising market: the risk that advertisers will reduce advertising expenditure due to economic conditions and other factors.
Customer acquisition costs: the risk that traffic sources will change due to changes in search algorithms and the growing use of AI to obtain information.
Technological innovation: the risk that services will become obsolete if the company cannot respond to changes in technology and user needs.
| Item | Details |
|---|---|
| Plan name | Business Plan and Growth Potential |
| Progress against the plan | Annual update |
| Sales Target | 7,115 (actual results for the fiscal year ended December 2025) → 7,500 (forecast for the fiscal year ending December 2026)（+5.4%） |
| Operating profit target | 901 (actual results for the fiscal year ended December 2025) → 950 (forecast for the fiscal year ending December 2026)（+5.3%） |
| Operating profit margin target | 12.6% (actual results for the fiscal year ended December 2025) → Not disclosed |
| Net income target | 646 (actual results for the fiscal year ended December 2025) → 580 (forecast for the fiscal year ending December 2026)（▲10.3%） |
| Payout ratio / DOE policy | The basic policy is to maintain a payout ratio of at least 65%, while introducing a 5% DOE (dividend on equity attributable to owners of the parent) as the lower-bound metric. The higher dividend amount under the two criteria will be adopted. The applicable period is not specified. |
| Plan assumptions | The fiscal year ending December 2026 incorporates accounting factors associated with the elimination of ビューティ社's negative net worth., Growth in the points-earning market will support expansion from web media into apps and LINE Mini Apps., The GIGA School Initiative is entering the "Next GIGA" phase as devices reach their replacement cycle., The aesthetic medicine market is expanding, although in some areas, consolidation resulting from excess supply has begun. |
| Key initiatives | Initiatives under the DX strategy, From flow businesses to stock businesses, Growth strategy: points-related businesses and industry-specific businesses (education and aesthetic medicine), Growth strategy: compounding growth strategy for industry-specific businesses (education and aesthetic medicine), Growth strategy: industry-specific stock and transaction businesses, Growth strategy: shifting the business structure toward businesses with high profit margins and growth rates, Growth strategy: partnership-building (M&A) strategy, Entering new fields: the LINE Mini App market, Support for LINE Mini Apps (advertising games) |
| Results under the previous plan | Revenue 7,000, operating profit 915, ordinary profit 900, net income attributable to owners of the parent 660 (full-year plan for 2025) → Revenue 7,115 (achievement rate: 101.6%), operating profit 901 (achievement rate: 98.5%), ordinary profit 896 (achievement rate: 99.6%), net income attributable to owners of the parent 646 (achievement rate: 98.0%) (2025 actual results) |
| Size of the Target Market | Internet advertising: 50.2% of total advertising expenditure; internet advertising media expenditure was 111.8% of the previous year's level. Source: Dentsu, "Advertising Expenditures in Japan for 2025.", Forecast for the size of Japan's points services market: unit is ¥100 million. Source: Yano Research Institute, "Survey of the Points Services Market (2025).", Historical and forecast market size of Japan's e-learning market. Source: Yano Research Institute, "Survey of the E-Learning Market (2025).", Historical market size of the aesthetic medicine market: unit is ¥ million. Source: Yano Research Institute, "Survey of the Aesthetic Medicine Market (2025)." |
| Risks identified | Internet advertising market: the risk that advertisers will reduce advertising expenditure due to economic conditions and other factors., Customer acquisition costs: the risk that traffic sources will change due to changes in search algorithms and the growing use of AI to obtain information., Technological innovation: the risk that services will become obsolete if the company cannot respond to changes in technology and user needs. |
| Publication date | 31 March 2026 |
Items this document does not state (12)
Plan periodROE targetROIC targetTreasury share acquisition policyCost of capitalSelf-assessment of PBR and share priceTotal investment planInvestment amount by sectorSegment targetNon-financial targetsReason 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.Regarding the decrease in net income for the fiscal year ending December 2026, the company explained that it was due to "accounting factors associated with the elimination of ビューティ社's negative net worth." Regarding the 2025 results, the company stated that, "despite the impact of the external environment, we completed strategic investments in the fourth quarter and broadly finished in line with the plan."
How to read this page
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