itamiarts inc.
168A・Growth Market・Other Products
Planning, production, and sale of SP products (single segment)
A D2C print mail-order business offering SP products such as banner flags via e-commerce and wholesale channels
| Period | Current | Previous | Change |
|---|---|---|---|
| Revenue (Q1 cumulative) | ¥1,375 million | – (not disclosed for the same quarter of the prior year, prior to transition to consolidated accounting) | — |
| Operating profit (Q1 cumulative) | ¥49 million | – (not disclosed for the same quarter of the prior year, prior to transition to consolidated accounting) | — |
| Operating margin (Q1 cumulative) | 3.6% | – | — |
| Ordinary profit (Q1 cumulative) | ¥46 million | – | — |
| Quarterly net profit attributable to owners of parent (Q1 cumulative) | ¥31 million | – | — |
| Gross profit (Q1 cumulative) | ¥455 million | – | — |
| Gross margin (Q1 cumulative) | 33.1% | – | — |
| Full-year revenue forecast | ¥6,000 million (+26.0% YoY) | ¥4,761 million (FY2026 (ended January 2026) actual) | ↑ |
| Full-year operating profit forecast | ¥246 million (+13.7% YoY) | ¥216 million (FY2026 (ended January 2026) actual) | ↑ |
| Equity ratio | 23.7% | 26.2% (end of FY2026 (ended January 2026)) | ↓ |
| Total assets | ¥5,619 million | ¥5,061 million (end of FY2026 (ended January 2026)) | ↑ |
Business Details
The company provides sales promotion (SP) products such as banner flags (nobori), curtains, booklets, and paper fans to BtoB customers including restaurants, retailers, and advertising agencies, through 18 e-commerce sites known as the "King Series" as well as wholesale sales. It operates a D2C model in which order receipt, manufacturing, and shipping are handled seamlessly through an in-house developed system, enabling low prices, short delivery times, and support for a wide variety of products in small lots. Tokyo Neoprint Corporation (which specializes in large-lot production of a limited number of product types) is a consolidated subsidiary, complementing and strengthening the group's supply capabilities. Revenue for Q1 of FY2027 (ending January 2027) (February to April 2026) was ¥1,375 million, with operating profit of ¥49 million.
Recent Overview
Q1 of FY2027 (ending January 2027) progressed as planned, with revenue of ¥1,375 million and operating profit of ¥49 million
In Q1 of FY2027 (ending January 2027) (February to April 2026), the company recorded revenue of ¥1,375 million, driven by active promotional activities, SEO measures, and enhanced sales efforts targeting corporate customers. Although the earnings environment remained challenging due to continued increases in raw material costs, labor costs, and logistics costs, the company secured operating profit of ¥49 million and ordinary profit of ¥46 million. Quarterly net profit was ¥31 million, aided by a gain of ¥17 million on the sale of fixed assets. Total assets expanded to ¥5,619 million (up ¥558 million from the previous fiscal year-end) due to new short-term borrowings of ¥700 million. The equity ratio declined to 23.7% (from 26.2% at the previous fiscal year-end). The company expects profit to become more concentrated in Q2 and Q3, and has left its full-year earnings forecast (revenue of ¥6,000 million, operating profit of ¥246 million) unchanged.
Key Products
Growth Drivers
- Increased traffic and transaction volume on key e-commerce sites through active promotional activities and strengthened SEO measures
- Order expansion through enhanced sales efforts targeting corporate customers and deeper engagement with existing corporate clients
- Acquisition of large-lot, limited-variety production capacity and strengthened complementary group supply capabilities through the consolidation of Tokyo Neoprint Corporation
- Enhanced production capacity and cost reduction through investment in new printers and automation of manufacturing processes (machinery and vehicles increased by ¥252 million from the previous fiscal year-end)
- Acquisition of new customers and expansion of the product lineup through the launch of new e-commerce sites such as "Novelty King"
- Achievement of the full-year earnings forecast (revenue of ¥6,000 million, +26.0% YoY), leveraging a profit structure concentrated in Q2 and Q3
Risks
- Continued deterioration of the earnings environment due to ongoing increases in raw material prices, logistics costs, and labor costs (the company explicitly states that Q1 remained challenging)
- Sharp increase in current liabilities to ¥1,973 million (up ¥712 million from the previous fiscal year-end) due to new short-term borrowings of ¥700 million, raising liquidity risk
- Financial leverage risk stemming from long-term borrowings of ¥2,119 million (including ¥638 million due within one year) and an equity ratio of 23.7%
- Risk of delayed recovery in promotional demand due to companies' continued cautious stance on promotional investment
- Risk of rising procurement costs due to persistently high energy and raw material prices and currency fluctuations
- High dependence on the in-house developed system, creating a risk that system failures or security incidents could directly affect business continuity
- Impact on resource and energy prices from heightened geopolitical risk, including tensions in the Middle East
- Intangible fixed assets have surged from ¥35 million at the previous fiscal year-end to ¥213 million, warranting close attention to potential future impairment risk
Last updated: April 27, 2026