Green Monster Inc.
157A・Growth Market・Services
Investment Education Support Business
Green Monster's sole reportable segment, comprising a group of businesses that support the "investor debut" of first-time investors.
| Period | Current | Previous | Change |
|---|---|---|---|
| Revenue (9-month cumulative) | ¥1,450 million | ¥1,407 million (same period prior year) | ↑ |
| Revenue YoY change | +3.0% | -8.7% (same period prior year) | ↑ |
| EBITDA (9-month cumulative) | -¥70 million | ¥105 million (same period prior year) | ↓ |
| Operating income/loss (9-month cumulative) | -¥113 million | ¥71 million (same period prior year) | ↓ |
| Ordinary income/loss (9-month cumulative) | -¥110 million | ¥75 million (same period prior year) | ↓ |
| Quarterly net income/loss attributable to owners of parent (9-month cumulative) | -¥125 million | ¥43 million (same period prior year) | ↓ |
| Net income/loss per share | -¥39.15 | ¥13.63 (same period prior year) | ↓ |
| Total assets | ¥2,051 million | ¥1,821 million (end of prior fiscal year) | ↑ |
| Net assets | ¥1,290 million | ¥1,430 million (end of prior fiscal year) | ↓ |
| Equity ratio | 62.9% | 78.5% (end of prior fiscal year) | ↓ |
Business Details
Centered on the development and operation of experiential investment education apps ("FX Navi", "Kabu Tasu", "Toushika"), the core business generates its main revenue from affiliate-type success fees for account openings. The segment comprises four businesses: financial planning services provided by consolidated subsidiary FP Consulting Co., Ltd.; the investment school "Toushi no Gakko Premium" operated by Financial Intelligence Co., Ltd.; and the investment school business of Financial Free College Co., Ltd., which was acquired via business transfer in February 2026. Operations are conducted domestically only, and all revenue is attributed to this segment.
Recent Overview
Revenue rose 3.0% year-on-year to ¥1,450 million, but increased costs pushed the company into an operating loss of ¥113 million.
Revenue for the cumulative nine months of the current fiscal year (July 2025 to March 2026) reached ¥1,450 million (+3.0% year-on-year), securing revenue growth. However, cost of sales increased significantly to ¥1,020 million (from ¥924 million in the same period prior year), and selling, general and administrative expenses rose sharply to ¥544 million (from ¥411 million in the same period prior year), resulting in an operating loss of ¥113 million (compared with operating income of ¥71 million in the same period prior year). Additionally, extraordinary losses totaling ¥47 million, comprising an impairment loss of ¥30 million and a loss of ¥17 million on the sale of subsidiary shares, were recorded, leading to a quarterly net loss attributable to owners of parent of ¥125 million. Goodwill increased by ¥323 million (bringing the balance to ¥506 million) in connection with the group entry of Finance Free College, which was acquired via business transfer in February 2026, and the equity ratio declined from 78.5% to 62.9% due to the new procurement of ¥300 million in short-term borrowings. Full-year earnings guidance remains undisclosed. As a subsequent event, the Board of Directors resolved to establish a Hong Kong subsidiary, Be My Monster Ltd. (capital of HKD 5 million), in June 2026, as a strategic overseas base for the blockchain infrastructure business.
Key Products
Growth Drivers
- Expansion of the population of first-time investors driven by the establishment and spread of the new NISA system (further supported by the government's asset income doubling plan)
- Strong performance of "Kabu Tasu" campaign initiatives: set a new record for quarterly sales in the current third quarter (January to March 2026)
- Continued revenue growth at FP Consulting Co., Ltd. and Financial Intelligence Co., Ltd.
- Expansion of the group's revenue base through the business acquisition (February 2026) of the investment school "Finance Free College"
- Deployment of an experiential financial education program for incoming university students through collaboration with ODK Solutions Co., Ltd. (expanding awareness)
- Diversification of medium- to long-term revenue sources through new entry into the blockchain infrastructure business (validator node operation)
Risks
- Risk of revenue concentration in a major customer (Lombard Co., Ltd.), which accounted for 62.6% of revenue in the previous full fiscal year
- Continued operating losses (operating loss of ¥113 million for the cumulative nine months) due to upfront investment burdens such as advertising and outsourcing costs in the experiential investment education business
- Restraint on the volume of investor debut support cases at "FX Navi" due to continuation of the "quality over quantity" policy
- Dependence on revenue from the FX genre: risk of fluctuation in affiliate fee unit prices due to foreign exchange market trends and changes in securities firms' advertising budgets
- Continued non-disclosure of full-year earnings guidance: high uncertainty regarding performance due to difficulty in reasonably estimating the timing and amount of expenses arising from the new blockchain business
- Risk of impairment of goodwill (¥506 million) arising from the Finance Free College business acquisition: possibility of recording additional losses if future revenue contribution falls short of expectations
- Increased financial leverage and decline in equity ratio (from 78.5% to 62.9%) due to new procurement of ¥300 million in short-term borrowings
- The blockchain infrastructure business is a new area distinct from existing businesses, with uncertain risks related to commercialization and additional investment burden
Last updated: September 25, 2025