HATCH WORK CO.,LTD.
148A・Growth Market・Information & Communication
Business
Hatch Work Inc. is composed of two core businesses: the Monthly Parking Innovation business, centered on the online management support service "@Parking Cloud" for monthly-contract parking lots, and the Building Innovation business, which operates rental meeting rooms, shared offices, and rental offices. Its main customers are real estate management companies (outsourcing partners for monthly parking lot management) as well as corporate and individual users of parking lots and meeting rooms. Founded in 2000, the company changed to its current name in 2018 and shifted its focus to the monthly parking DX business. It listed on the Growth Market of the Tokyo Stock Exchange in March 2024. Its purpose is "Bringing eggs of possibility to society," and its mission is "CREATE FUTURE BASE."
Business Model
In the Monthly Parking Innovation business, system usage fees for management companies (¥15,000 per month or free) are set low to lower the barrier to adoption, while the main revenue consists of stock-type revenue from parking users, including initial guarantee fees, monthly guarantee fees (5% of usage fees), settlement fees, and re-billing fees. This is a structure in which revenue expands as the number of registered vehicles accumulates. In the Building Innovation business, rental meeting rooms and similar facilities are operated under two formats—direct operation and outsourced operation—generating usage fee income.
Company Strengths
AP Cloud registered vehicle count increased approximately 26.6% year-over-year, from 374,032 units at end-December 2024 to 473,535 units at end-December 2025. AP Cloud service ARR reached ¥1,471,219 thousand, and the structure in which recurring revenue such as guarantee fees and settlement commissions from parking users accumulates provides high revenue stability and sustainable growth.
A positive cycle continues: expansion of parking lots leads to increased customer traffic, which improves ratings and promotes new adoption. The number of listed parking lots exceeded 65,000 locations (as of end-December 2025), and against the backdrop of a business alliance with Hatomark Support Organization, the largest real estate industry association, nationwide expansion of brand recognition and listing coverage area is progressing. This forms a structure in which it becomes increasingly difficult for competitors to catch up as scale expands.
Revenue increased 34.2% over two years, from ¥2,056 million in FY2023 to ¥2,759 million in FY2025. Operating profit expanded approximately 11.5-fold over the same period, from ¥21 million to ¥242 million, with the operating profit margin improving substantially from 1.0% to 8.8%. Net income also increased from ¥78 million to ¥247 million, confirming numerically the shift toward a profitable business structure.
ENVALITH's Perspective
Performance Trend
Revenue continued to grow, rising from ¥2,056 million in FY2023 to ¥2,368 million in FY2024 and ¥2,759 million in FY2025, and this growth trend persisted into Q1 of FY2026 (ending December 2026), with revenue of ¥744 million (up 15.6% year on year). On the other hand, operating profit is expected to decline from ¥242 million in FY2025 to a full-year forecast of ¥204 million for FY2026 (ending December 2026), down 15.6% year on year, and Q1 results showed a sharp profit decline to ¥13 million (down 82.4% year on year). The main cause was a surge in selling, general and administrative expenses from ¥307 million in the same quarter of the previous year to ¥432 million, as upfront investments related to the opening of new rental meeting room locations in Minami-Aoyama and Shimbashi and an office relocation weighed on profits. Segment profit for the Monthly Parking Innovation business rose to ¥154 million (up 15.2% year on year), indicating that the earning power of the core business is expanding, and the focus point is profit recovery once the upfront investment phase concludes. As an external factor, rising prices and elevated energy costs could affect the cost side.
Growth Strategy
Aiming for deepening DX and sustained growth through expansion of AP Cloud registered units and rollout of a new labor-saving model for rental conference rooms
Through active sales activities, the company continues to expand both the number of contracted companies and AP Cloud registered units. At the end of Q1 FY2026 (ending December 2026), registered units reached 487,114 (up 23.7% year-on-year), with ARR expanding to ¥1,765,333 thousand. The accumulation of recurring revenue creates a structure that generates profit leverage.
Against the backdrop of a business alliance with the largest real estate industry association, the company is promoting increased awareness of 'At Parking' and expanding the nationwide coverage area for listed properties. This is expected to enhance customer acquisition capabilities for management companies and strengthen a spiral of promoting new adoptions.
Utilizing real-time vacancy information, the company is expanding 'Disaster Station' in collaboration with local governments. Through strengthening sales personnel, promoting management system registrations, and reinforcing relationships with management companies, the company aims to simultaneously raise awareness as social infrastructure and acquire new customers.
New rental conference rooms opened in Minami-Aoyama and Shimbashi on April 1, 2026. Following the upfront investment phase, revenue contribution is expected to become substantial from Q2 onward. The rollout of a new labor-saving model aims to improve profitability and accumulate operational know-how.
As indicated by the exercise conditions for the paid stock options issued in May 2026 (operating profit before goodwill amortization exceeding ¥1.0 billion and market capitalization exceeding approximately ¥10.0 billion during 2028–2030), the company has explicitly stated growth investment including M&A as a medium- to long-term strategy for enhancing corporate value. The company has set achieving operating profit of ¥1.0 billion by 2030 as a medium- to long-term target.
Last updated: July 17, 2026