VRAIN Solution,Inc.
135A・Growth Market・Information & Communication
Business
VRAIN Solution Inc. is a manufacturing-focused AI/DX solutions company established in March 2020, guided by the mission of "transforming manufacturing and changing the world." The company operates two services in an integrated manner as its "Manufacturing DX Business": sales of its proprietary AI visual inspection system "Phoenix Vision/Eye," and DX consulting to support the automation and efficiency improvement of manufacturing processes. Its main customers are domestic manufacturers, primarily in the automotive and food industries, with the cumulative number of client companies reaching 337 as of the end of FY2026 (ending March 2026). Against the backdrop of structural challenges facing the manufacturing industry—labor shortages stemming from the declining birthrate and aging population, and intensifying international competition—the company is capturing demand for labor saving and automation of inspection processes through AI.
Business Model
The AI system business builds up repeat revenue starting from the introduction on a single production line, then expanding horizontally to multiple lines within the same factory and to other factories. DX consulting deepens transactions through additional proposals to AI system client customers. The average unit sales price in FY2026 (ending February 2026) was approximately ¥21,797 thousand for AI systems and approximately ¥2,051 thousand for DX consulting (actual results for FY2025, ending February 2025). Revenue from continuing customers expanded to ¥852 million (FY2025, ending February 2025), forming a structure that strengthens the revenue base through deeper engagement with existing customers while keeping new customer acquisition costs low.
Company Strengths
The company has a system to plan, propose, and sell software (AI systems) and imaging equipment/inspection devices such as cameras and sensors in a one-stop manner. By handling everything up to optimization of the imaging environment, it achieves high inspection accuracy even under actual production conditions, which serves as a differentiating factor from other AI vendors.
The company's proprietary general-purpose AI system requires no major customization for each customer, enabling deployment within approximately one week of order receipt. Because it can be easily rolled out across multiple lines within the same factory and across multiple factories, the company has opportunities for full-line deployment at major manufacturers, contributing to lower acquisition costs for repeat business.
Against net sales of ¥3,278 million in FY2026 (ending February 2026), the company achieved operating profit of ¥914 million, an operating profit margin of 27.9%. The gross profit margin has also been maintained at around 78%, with the high profitability supported by a scalable earnings structure driven by manufacturing-specialized expertise and general-purpose products.
ENVALITH's Perspective
Performance Trend
Revenue over the past three fiscal years continued to expand, rising from ¥1,411 million in FY2024 to ¥2,145 million in FY2025 and ¥3,278 million in FY2026, with growth accelerating further in Q1 FY2027 (ending February 2027) to ¥648 million (up 231.5% year on year from ¥195 million in the same period a year earlier). Operating loss improved significantly to ¥31 million from ¥228 million in the same period last year, and gross margin also rose from 73.8% to 76.5%. As an external factor, steady demand for DX and labor-saving investment in the manufacturing sector has provided a tailwind, although there is also a risk that deteriorating customer profitability due to rising labor costs and raw material prices could exert downward pressure on capital expenditure. Selling, general and administrative expenses increased from ¥373 million to ¥527 million, reflecting an ongoing phase of upfront investment in hiring and expansion of business locations. Achieving the full-year operating profit forecast of ¥1,449 million presupposes a substantial concentration of earnings in the latter half of the fiscal year.
Growth Strategy
Establishing a position as a manufacturing DX support company through cross-deployment to existing customers, opening of new sites, and development of new solutions
The company plans to steadily deliver on the order backlog of ¥1,386 million as of the end of Q1 of FY2027 (ending February 2027), building up revenue from Q2 onward. This is the most critical measure toward achieving the full-year sales forecast of ¥4,823 million, and the progress of backlog consumption serves as a leading indicator of business performance.
The company is preparing to open the Kanazawa Sales Office and Nagoya Factory with the aim of strengthening sales reach to regional manufacturers and expanding production capacity. The launch of these new sites is expected to expand the order acquisition area and improve delivery responsiveness.
Through active participation in exhibitions, the company aims to acquire leads from prospective new customers, further expanding beyond the cumulative 358 client companies. Acquiring new customers forms the base for increasing the number of medium- to long-term cross-deployment opportunities.
The company's AI-based visual inspection and 3D shape measurement inspection system was adopted for a project to digitalize manufacturing processes and enhance the precision of product inspection at a domestic facility of a major semiconductor ceramics manufacturer. Cross-deployment to multiple facilities and multiple lines of the same customer represents the next revenue opportunity.
The company continues active recruitment activities as a foundation for executing its growth strategy, aiming to expand its internal infrastructure and strengthen its sales structure. While this is a factor increasing selling, general and administrative expenses, it is positioned as an upfront investment toward improving future order-taking and delivery capabilities.
Last updated: July 17, 2026