Worth reading
67In focus
0–100. This measures how worthwhile something is to read, not how good or bad the company is.Direction
Improvement
Direction inferred from the company’s description.Scale
8000
¥ million (upper end of the sales target for the fiscal year ending March 2028)Wording
Conditional
How definitive the wording is.Items stated in the management plan
Partially revisedNet Sales+29.2%
基準 6,192Target8,000million
Operating profit+61.6%
基準 1,238Target2,000million
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.
What happened to the previous plan¥5,000 million → ¥5,268 million+5.4%Calculated from the two disclosed figures
Investment amount by sectorField Investment in existing businesses / Amount Not disclosed, Field Proprietary Investments / Amount Not disclosed, Field New M&A businesses / Amount Not disclosed
Statements about the use of capital
Payout ratio / DOE policyThe company will implement shareholder returns, including share repurchases and dividends, from clearly identifiable surplus funds while taking into account its financial position and share price trends. It will also actively consider flexible shareholder returns. Numerical targets and the applicable period are Not disclosed.The payout ratio is the proportion of profit paid out as dividends, while DOE is the ratio of dividends to net assets.
Treasury share acquisition policyThe company will conduct share repurchases from clearly identifiable surplus funds while taking into account its financial position and share price trends. The specific repurchase amount and timing are Not disclosed.
Key initiatives
01No. 1 in startup HR
02Achieve an overwhelming No. 1 agent share among leading growth companies
03Expand support offerings
04Increase the number of job openings
05Leverage AI and establish repeatability
06Increase touchpoint generation and turn it into an asset
07Become the overwhelming No. 1 in startup HR
08Become No. 1 in startup M&A
Plan assumptionsThe company assumes that equity financing will remain at its current level for the time being., Startup equity financing in 2025 was approximately ¥800 billion., The company assumes that 30–40% of equity financing will transition to IPOs., If 60–70% of equity financing flows into M&A exits, the market could be interpreted as expanding by approximately ¥500 billion annually., The company expects the flow of capital and talent in the startup market to accelerate as a result of advances in AI and changes in the exit environment., The number of job openings can be increased by 2–3 times through corporate outreach.
Non-financial targetsIndicator Agent share among leading growth companies / Target value Overwhelming No. 1 / Timing Not disclosed, Indicator Startup M&A brokerage / Target value No.1 / Timing Not disclosed, Indicator Tokyo Stock Exchange Prime Market transfer criteria / Target value Business growth sufficient to meet the current Prime Market transfer criteria / Timing By the fiscal year ending March 2031
Size of the Target MarketMarket Recruitment services market for white-collar occupations / Scale ¥252.0 billion in fiscal 2020, ¥296.0 billion in fiscal 2021, ¥351.0 billion in fiscal 2022, ¥411.0 billion in fiscal 2023, and ¥449.0 billion in fiscal 2024 / Growth rate Not disclosed / Source Yano Research Institute Ltd., “Survey of the Human Resources Business Market (2025),” and other sources, Market Startup M&A exit market / Scale The market could be interpreted as expanding by approximately ¥500 billion annually. / Growth rate Not disclosed / Source 2025 Annual Report on Domestic Startup Investment Trends | STARTUP DB
Risks identified by the company
Market environment
Competition
Relationships with job-board operators
Legal regulations
Personal Information Protection
Venture capital business
Recruitment and development of human resources
Information Security
Reason for revision or withdrawal
The company expects continued growth in the Human Capital Business and contributions from the M&A brokerage business, and aims to achieve 20–25% sales growth while maintaining and improving its operating margin.
| Item | Details |
|---|---|
| Plan name | Medium-Term Plan |
| Plan period | Fiscal year ending March 2026–fiscal year ending March 2028 |
| Progress against the plan | Partially revised |
| Sales Target | 5,687～6,192 → 7,680～8,000 |
| Operating profit target | 853～1,238 → 1,536～2,000 |
| Payout ratio / DOE policy | The company will implement shareholder returns, including share repurchases and dividends, from clearly identifiable surplus funds while taking into account its financial position and share price trends. It will also actively consider flexible shareholder returns. Numerical targets and the applicable period are Not disclosed. |
| Treasury share acquisition policy | The company will conduct share repurchases from clearly identifiable surplus funds while taking into account its financial position and share price trends. The specific repurchase amount and timing are Not disclosed. |
| Investment amount by sector | Field Investment in existing businesses / Amount Not disclosed, Field Proprietary Investments / Amount Not disclosed, Field New M&A businesses / Amount Not disclosed |
| Non-financial targets | Indicator Agent share among leading growth companies / Target value Overwhelming No. 1 / Timing Not disclosed, Indicator Startup M&A brokerage / Target value No.1 / Timing Not disclosed, Indicator Tokyo Stock Exchange Prime Market transfer criteria / Target value Business growth sufficient to meet the current Prime Market transfer criteria / Timing By the fiscal year ending March 2031 |
| Plan assumptions | The company assumes that equity financing will remain at its current level for the time being., Startup equity financing in 2025 was approximately ¥800 billion., The company assumes that 30–40% of equity financing will transition to IPOs., If 60–70% of equity financing flows into M&A exits, the market could be interpreted as expanding by approximately ¥500 billion annually., The company expects the flow of capital and talent in the startup market to accelerate as a result of advances in AI and changes in the exit environment., The number of job openings can be increased by 2–3 times through corporate outreach. |
| Key initiatives | No. 1 in startup HR, Achieve an overwhelming No. 1 agent share among leading growth companies, Expand support offerings, Increase the number of job openings, Leverage AI and establish repeatability, Increase touchpoint generation and turn it into an asset, Become the overwhelming No. 1 in startup HR, Become No. 1 in startup M&A |
| Results under the previous plan | ¥5,000 million → ¥5,268 million |
| Reason for revision or withdrawal | The company expects continued growth in the Human Capital Business and contributions from the M&A brokerage business, and aims to achieve 20–25% sales growth while maintaining and improving its operating margin. |
| Size of the Target Market | Market Recruitment services market for white-collar occupations / Scale ¥252.0 billion in fiscal 2020, ¥296.0 billion in fiscal 2021, ¥351.0 billion in fiscal 2022, ¥411.0 billion in fiscal 2023, and ¥449.0 billion in fiscal 2024 / Growth rate Not disclosed / Source Yano Research Institute Ltd., “Survey of the Human Resources Business Market (2025),” and other sources, Market Startup M&A exit market / Scale The market could be interpreted as expanding by approximately ¥500 billion annually. / Growth rate Not disclosed / Source 2025 Annual Report on Domestic Startup Investment Trends | STARTUP DB |
| Risks identified | Market environment, Competition, Relationships with job-board operators, Legal regulations, Personal Information Protection, Venture capital business, Recruitment and development of human resources, Information Security |
Items this document does not state (10)
Operating profit margin targetNet income targetROE targetROIC targetCost of capitalSelf-assessment of PBR and share priceTotal investment planSegment targetDate of board resolutionPublication date
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.The company expects continued growth in the Human Capital Business and contributions from the M&A brokerage business, and aims to achieve 20–25% sales growth while maintaining and improving its operating margin.
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.