Worth reading
85Important
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
150
Operating profit (percentage increase from the fiscal year ending March 2026)Wording
Conditional
How definitive the wording is.Items stated in the management plan
Partially revisedNet Sales+38.2%
基準 5,892Target8,143million
Operating profit+150.6%
基準 536Target1,343million
Operating profit margin+7.4pt
基準 9.1Target16.5%
Net income for the current fiscal year+147.6%
基準 319Target790million
ROE+1.9pt
基準 18.6Target20.5%
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.
What happened to the previous planFiscal year ending March 2026: net sales of ¥6,007 million, operating profit of ¥530 million, and net income of ¥310 million → Fiscal year ending March 2026 actual results: net sales of ¥5,892 million, operating profit of ¥536 million, and net income of ¥319 million-1.9%Calculated from the two disclosed figures
Statements about the use of capital
Self-assessment of PBR and share priceThe market's assessment of the share price and PER has not yet caught up with current conditions, and the shares are considered undervalued. There is room for the market's assessment to improve to above pre-pandemic levels.PBR is a measure of how many times the share price is the book value per share.
Key initiatives
01Achieve the profit plan
02Strengthen organizational capabilities
03Grow net sales and profit by increasing utilization rates at directly operated stores and franchise locations
04Resolve challenges in property development, accelerate the pace of additional openings by existing franchisees, and continue to expand the number of locations
05Gradually convert directly operated stores to franchises by transferring them to franchisees, thereby improving business efficiency
06Roll out Record Book X, an initiative to offer welfare equipment rental and sales services through Record Book
07Accelerate growth by using existing silver marketing support engagements as a starting point to shift from promotional and sales-promotion activities to a consulting business
08Increase the number of implementations of SuisuiRemon, and use it as a starting point to develop DX solution services aimed at improving the efficiency of surrounding non-core operations, thereby pursuing growth in net sales and profit
09Accelerate the rollout of the above DX solutions through M&A and other means
10Increase net sales and profit by expanding the number of users of existing services
11Expand the geographic coverage of existing services and develop adjacent businesses through M&A and other means
12Areas that contribute to addressing the 2040 problem
13Areas that contribute to expanding existing businesses, including Record Book
Plan assumptionsThe forecast for the fiscal year ending March 2027 is the performance forecast disclosed in the financial results summary disclosed on 15 May 2026. From the fiscal year ending March 2028 onward, the plan assumes that this forecast will be achieved as planned. The plan from the fiscal year ending March 2028 onward includes expansion through M&A in the Home Care Services Business and new businesses. Total Record Book users are expected to be 26,154 as of the end of March 2028, 29,107 as of the end of March 2029, and 32,331 as of the end of March 2030. The number of locations is expected to be 300 as of the end of March 2028, 342 as of the end of March 2029, and 382 as of the end of March 2030.
Segment targetSegment Healthcare Solutions business / Net sales for the fiscal year ending March 2030 ¥5,829 million / Operating profit for the fiscal year ending March 2030 ¥1,569 million, Segment Record Book / Net sales for the fiscal year ending March 2030 ¥2,372 million / Operating profit for the fiscal year ending March 2030 ¥929 million, Segment Active Life / Net sales for the fiscal year ending March 2030 ¥1,387 million / Operating profit for the fiscal year ending March 2030 ¥181 million, Segment DX Solutions / Net sales for the fiscal year ending March 2030 ¥2,069 million / Operating profit for the fiscal year ending March 2030 ¥459 million, Segment Home-based Services Business / Net sales for the fiscal year ending March 2030 ¥2,315 million / Operating profit for the fiscal year ending March 2030 ¥465 million, Segment Total / Net sales for the fiscal year ending March 2030 ¥8,143 million / Operating profit for the fiscal year ending March 2030 ¥1,343 million
Non-financial targetsIndicator Total users at Record Book locations / Target value 32,331 people / Timing End of March 2030, Indicator Number of Record Book locations / Target value 382 locations / Timing End of March 2030, Indicator Utilization rate across all Record Book locations / Target value 63.9% / Timing March 2030, Indicator Utilization rate at existing Record Book locations / Target value 79.1% / Timing March 2030, Indicator Active Life users / Target value 7,792 people / Timing End of March 2030
Size of the Target MarketThe addressable population is 4.5 million for Record Book and 5 million for standard day-care services. The number of people certified as requiring long-term care or support is increasing as the 2025 problem becomes more pronounced. The number of working family caregivers is expected to reach 3.18 million in 2030, with the resulting economic loss estimated at ¥9 trillion. Sources: Monthly Report on the Status of Long-Term Care Insurance Services; GDFreaK!, Future Estimates of the Number of People Certified as Requiring Long-Term Care or Support in Japan; Cabinet Office, Annual Report on the Ageing Society, FY2024 edition; Japan Research Institute; and materials from the Ministry of Economy, Trade and Industry.
Risks identified by the company
The risk that revenue will decline due to amendments to the long-term care insurance system and revisions to long-term care fees
The risk that new Record Book locations will not open as scheduled or that opening dates will be postponed, prolonging the recovery of the investment
The risk that competition to acquire users of long-term care services will intensify as more operators expand into the long-term care and preventive care markets and major companies enter these markets in earnest
Reason for revision or withdrawal
Although the plan to grow each business remains unchanged, the timing of incorporating the plan was reviewed following a detailed examination of recent trends, resulting in declines in net sales and each profit measure below operating profit. Record Book fell short of its target for new store openings, Active Life was affected by delays in the structural reform of 正光技建's residential renovation business, and the Home Care Services Business struggled to secure care managers.
| Item | Details |
|---|---|
| Plan name | Profit Plan and Growth Strategy |
| Plan period | Fiscal year ending March 2027 to fiscal year ending March 2030 (based on actual results for the fiscal year ending March 2026) |
| Progress against the plan | Partially revised |
| Sales Target | ¥5,892 million → ¥8,143 million（+38%） |
| Operating profit target | ¥536 million → ¥1,343 million（+150%） |
| Operating profit margin target | 9.1 % → 16.5 % |
| Net income target | ¥319 million → ¥790 million（+147%） |
| ROE target | 18.6 % → 20.5 % |
| Self-assessment of PBR and share price | The market's assessment of the share price and PER has not yet caught up with current conditions, and the shares are considered undervalued. There is room for the market's assessment to improve to above pre-pandemic levels. |
| Segment target | Segment Healthcare Solutions business / Net sales for the fiscal year ending March 2030 ¥5,829 million / Operating profit for the fiscal year ending March 2030 ¥1,569 million, Segment Record Book / Net sales for the fiscal year ending March 2030 ¥2,372 million / Operating profit for the fiscal year ending March 2030 ¥929 million, Segment Active Life / Net sales for the fiscal year ending March 2030 ¥1,387 million / Operating profit for the fiscal year ending March 2030 ¥181 million, Segment DX Solutions / Net sales for the fiscal year ending March 2030 ¥2,069 million / Operating profit for the fiscal year ending March 2030 ¥459 million, Segment Home-based Services Business / Net sales for the fiscal year ending March 2030 ¥2,315 million / Operating profit for the fiscal year ending March 2030 ¥465 million, Segment Total / Net sales for the fiscal year ending March 2030 ¥8,143 million / Operating profit for the fiscal year ending March 2030 ¥1,343 million |
| Non-financial targets | Indicator Total users at Record Book locations / Target value 32,331 people / Timing End of March 2030, Indicator Number of Record Book locations / Target value 382 locations / Timing End of March 2030, Indicator Utilization rate across all Record Book locations / Target value 63.9% / Timing March 2030, Indicator Utilization rate at existing Record Book locations / Target value 79.1% / Timing March 2030, Indicator Active Life users / Target value 7,792 people / Timing End of March 2030 |
| Plan assumptions | The forecast for the fiscal year ending March 2027 is the performance forecast disclosed in the financial results summary disclosed on 15 May 2026. From the fiscal year ending March 2028 onward, the plan assumes that this forecast will be achieved as planned. The plan from the fiscal year ending March 2028 onward includes expansion through M&A in the Home Care Services Business and new businesses. Total Record Book users are expected to be 26,154 as of the end of March 2028, 29,107 as of the end of March 2029, and 32,331 as of the end of March 2030. The number of locations is expected to be 300 as of the end of March 2028, 342 as of the end of March 2029, and 382 as of the end of March 2030. |
| Key initiatives | Achieve the profit plan, Strengthen organizational capabilities, Grow net sales and profit by increasing utilization rates at directly operated stores and franchise locations, Resolve challenges in property development, accelerate the pace of additional openings by existing franchisees, and continue to expand the number of locations, Gradually convert directly operated stores to franchises by transferring them to franchisees, thereby improving business efficiency, Roll out Record Book X, an initiative to offer welfare equipment rental and sales services through Record Book, Accelerate growth by using existing silver marketing support engagements as a starting point to shift from promotional and sales-promotion activities to a consulting business, Increase the number of implementations of SuisuiRemon, and use it as a starting point to develop DX solution services aimed at improving the efficiency of surrounding non-core operations, thereby pursuing growth in net sales and profit, Accelerate the rollout of the above DX solutions through M&A and other means, Increase net sales and profit by expanding the number of users of existing services, Expand the geographic coverage of existing services and develop adjacent businesses through M&A and other means, Areas that contribute to addressing the 2040 problem, Areas that contribute to expanding existing businesses, including Record Book |
| Results under the previous plan | Fiscal year ending March 2026: net sales of ¥6,007 million, operating profit of ¥530 million, and net income of ¥310 million → Fiscal year ending March 2026 actual results: net sales of ¥5,892 million, operating profit of ¥536 million, and net income of ¥319 million |
| Reason for revision or withdrawal | Although the plan to grow each business remains unchanged, the timing of incorporating the plan was reviewed following a detailed examination of recent trends, resulting in declines in net sales and each profit measure below operating profit. Record Book fell short of its target for new store openings, Active Life was affected by delays in the structural reform of 正光技建's residential renovation business, and the Home Care Services Business struggled to secure care managers. |
| Size of the Target Market | The addressable population is 4.5 million for Record Book and 5 million for standard day-care services. The number of people certified as requiring long-term care or support is increasing as the 2025 problem becomes more pronounced. The number of working family caregivers is expected to reach 3.18 million in 2030, with the resulting economic loss estimated at ¥9 trillion. Sources: Monthly Report on the Status of Long-Term Care Insurance Services; GDFreaK!, Future Estimates of the Number of People Certified as Requiring Long-Term Care or Support in Japan; Cabinet Office, Annual Report on the Ageing Society, FY2024 edition; Japan Research Institute; and materials from the Ministry of Economy, Trade and Industry. |
| Risks identified | The risk that revenue will decline due to amendments to the long-term care insurance system and revisions to long-term care fees, The risk that new Record Book locations will not open as scheduled or that opening dates will be postponed, prolonging the recovery of the investment, The risk that competition to acquire users of long-term care services will intensify as more operators expand into the long-term care and preventive care markets and major companies enter these markets in earnest |
| Publication date | 26 June 2026 |
Items this document does not state (7)
ROIC targetPayout ratio / DOE policyTreasury share acquisition policyCost of capitalTotal investment planInvestment amount by sectorDate 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.Although the plans for each business remain unchanged, the timing of incorporating them into the plan was reviewed following a detailed examination of recent trends. The revised plan reflects the shortfall in new store openings, delays in structural reforms in the residential renovation business, and difficulties securing care managers, while also incorporating growth initiatives such as DX solutions.
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