ENVALITH
株式会社アルバイトタイムス logo

ARBEIT-TIMES CO.,LTD.

2341・Standard Market・Services

Official website
株式会社アルバイトタイムス logo
ARBEIT-TIMES CO.,LTD.2341

Business

Albait Times Co., Ltd. is a human resources information services company founded in 1973 and based primarily in Shizuoka Prefecture. Starting from the publication of the free job information magazine "DOMO" and operation of the job information website "DOMO NET," the company has expanded into subscription-based provision of the applicant tracking system (ATS) "Wagasha de DOMO," the full-time career change site "JOB," and the new graduate recruitment site "TSUNORU." The company consists of two segments: the Information Provision business (87.2% of net sales), and the free paper distribution and target media business (12.8%) handled by consolidated subsidiary Link Co., Ltd. Its main customers are small and medium-sized enterprises with recruitment needs, primarily within Shizuoka Prefecture. The company is listed on the Standard Market of the Tokyo Stock Exchange.

Business Model

The business is founded on an advertising revenue model that delivers information to job seekers through magazines and websites, based on job advertisements placed by client companies. In addition, the recruitment management system "Wagasha de DOMO" employs a subscription-based billing model and has achieved 4.6x growth over the past five years. A transformation of the revenue structure is underway, shifting from print media, which requires printing and distribution costs, to HR tech with stock-type (recurring) revenue. In the Sales Promotion Support Business, the company earns distribution commission income by leveraging its free paper distribution network.

Company Strengths

The applicant tracking system (ATS) "Wagasha de DOMO" has adopted a subscription-based pricing model, achieving 4.6x growth over the past five years. The information services segment maintains a high segment profit margin of 21.1%, with the expansion of recurring revenue contributing to earnings stability.

As of the end of FY2025 (ending February 2025), the equity ratio stood at 83.5%, with cash and deposits of ¥1,979 million. The company maintains a financial structure not reliant on interest-bearing debt, retaining financial flexibility that can be allocated to M&A and new business investments.

Since its founding in 1973, the company has continuously published the job information magazine "DOMO" across the eastern, central, and western areas of Shizuoka Prefecture, building long-term business relationships with local companies. It owns a proprietary distribution rack network, and its subsidiary Link has commercialized a free paper distribution business, giving the company assets that function as regional infrastructure.

ENVALITH's Perspective

Operating profit for the first quarter of FY2027 (ending February 2027) expanded sharply to ¥124 million (up 149.1% YoY). While selling, general and administrative expenses decreased 1.3% YoY to ¥747 million, sales increased 6.8%, making operating leverage evident. The 1Q progress rate against the full-year forecast of ¥280 million reached 44.3%, and the likelihood of achieving the full-year forecast is judged to be high. The company has not revised its full-year forecast.

Against a backdrop of DX promotion and IT talent shortages, programming training for new employees has been trending with order volumes exceeding those of typical years. The RPO Business (WHOM) has also begun sales expansion into other regions in addition to expanding sales in the greater Tokyo area, with geographic diversification progressing away from dependence on Shizuoka Prefecture. However, it should be noted that the sales scale of these new areas remains limited, and since they are included in the "Other" category (¥571 million) within the overall Staffing Services Business, the visibility of individual revenue contributions is low.

Sales in the Sales Promotion Support Business were ¥103 million (down 14.4% YoY), continuing a structural decline. Meanwhile, due to improvements in the cost structure such as the scrapping of unprofitable racks, segment profit improved significantly to ¥16 million (up 70.0% YoY). The strategy of offsetting the sales decline with improved profit margins is proving effective, but the long-term contraction trend of the free paper market is an irreversible external factor, and a future decline in this business's contribution appears unavoidable.

Growth Strategy

Transforming the business model through concentrated investment in HR tech, RPO, and IT education, combined with geographic expansion

Aim to build up stable recurring revenue by expanding the customer base for the subscription-based recruitment management system and strengthening sales of optional products. Recorded sales of ¥477 million for the cumulative first quarter of FY2027 (ending February 2027), maintaining steady growth year on year.

Capturing corporate demand for digital talent development amid DX promotion and IT talent shortages, the company will launch programming training for new employees starting April 2026. In the first quarter of FY2027 (ending February 2027), order volume exceeded typical levels for the period, and the business is being nurtured as a new revenue pillar.

In the RPO business utilizing freelance and side-job workers, the company is promoting sales expansion centered on the Greater Tokyo area, while also beginning sales development in other regions to capture new demand, aiming to diversify geographically away from its dependence on Shizuoka Prefecture.

The company cancelled 1,000,000 treasury shares in April 2026 (previous fiscal year), and as a subsequent event, resolved to cancel a further 1,000,000 shares (3.78% of total shares issued) effective July 17, 2026. This reflects ongoing efforts to improve capital efficiency and enhance shareholder value.

Last updated: July 17, 2026