KeyHolder,Inc. discussed its growth strategy in an IR interview after transitioning to a holding company through a series of restructurings since its founding in 1967. The interview also covered business restructuring since 2023, financial soundness and efforts to discover next-generation IP.
KeyHolder,Inc. operates as a comprehensive entertainment holding company comprising 15 companies, with the management of idol groups and talent at its core, alongside video production and advertising agency businesses. Founded in December 1967, the company changed its corporate name to KeyHolder and transitioned to a holding-company structure in 2017, while making its game-centre business a subsidiary. In March 2018, it pursued a policy of acquiring all shares of Adorez, which had acquired the Rakurakuza business in Kyushu, thereby establishing the foundation for its current structure.
From 2019 onward, the company made the advertising agency allfuz and the video production company Hoorin Raje, now UNITED PRODUCTIONS, subsidiaries, strengthening the foundation of its comprehensive entertainment business. During the COVID-19 pandemic, handshake events and theatre performances by major group companies were affected. At the same time, the company sought to stabilise earnings by making a group affiliated with Nogizaka46 a subsidiary and secured new revenue streams, including live streaming. It now owns multiple IPs, including Nogizaka46, and its ability to handle video production and advertising in-house is a key strength.
Regarding the current state of the comprehensive entertainment business, the company notes that while recovery from the COVID-19 pandemic is progressing, there is a view that the enthusiasm surrounding domestic entertainment is shifting towards K-pop. In October 2023, it established Bijoux株式会社 to discover and develop next-generation IP, selecting 33 finalists from approximately 7,000 applicants. The group is also proceeding with the integration of 10ANTZ to strengthen its digital capabilities.
As its medium- to long-term growth vision for investors, the company aims to significantly expand the scale of sales and net assets over 5 years and contribute further to Japan’s entertainment market. In terms of performance, sales increased from ¥27.5 billion in 2008 to ¥32.0 billion in the fiscal year ended December 2024. Total assets have increased by ¥10.7 billion, or 64.7%, since 2018, while net assets have increased by ¥8.8 billion, or 81.4%. The equity ratio stood at 73% as of the end of December 2023, maintaining a sound financial foundation.
Going forward, the company is expected to accelerate content development and market expansion while maintaining and expanding its 15-company structure, through the effects of making North River株式会社, which operates Nogizaka46, a wholly owned subsidiary, preparations for Bijoux’s debut and the integration benefits from 10ANTZ, which develops mobile games. Regarding shareholder returns for investors, the company explained that it plans to maintain and improve its current level of returns while also considering enhancements to its shareholder benefits.