Growth xPartners Incorporated.
244A・Growth Market・Information & Communication
Enterprise DX Business
A single business segment providing end-to-end support for organizational and IT transformation at major corporations
| Period | Current | Previous | Change |
|---|---|---|---|
| Revenue (9-month cumulative) | ¥3,480 million | ¥3,651 million | ↓ |
| Operating profit (9-month cumulative) | ¥344 million | ¥577 million | ↓ |
| Ordinary profit (9-month cumulative) | ¥368 million | ¥602 million | ↓ |
| Quarterly net income attributable to owners of parent (9-month cumulative) | ¥227 million | ¥391 million | ↓ |
| Quarterly net income per share (9-month cumulative) | ¥67.79 | ¥120.60 | ↓ |
| Total assets | ¥4,778 million | ¥4,726 million | ↑ |
| Net assets | ¥3,728 million | ¥3,377 million | ↑ |
| Equity ratio | 77.9% | 71.4% | ↑ |
| Full-year forecast - Revenue | ¥4,657 million (YoY -8.4%) | ¥5,085 million (prior-year actual) | ↓ |
| Full-year forecast - Operating profit | ¥413 million (YoY -46.6%) | ¥773 million (prior-year actual) | ↓ |
| Customer retention rate | 86.6% (FY2025 (ended August 2025)) | — | — |
| Number of consultant/engineer employees | 213 (as of end of August 2025) | — | — |
Business Details
The company's main clients are leading companies across industries such as healthcare, retail/distribution, mobility, telecommunications, construction, manufacturing, and finance, providing comprehensive support ranging from DX consulting to application development, cloud utilization, product sales, and digital service co-creation. It features a "Dejima-style approach" and a "data-driven platform," accompanying clients through their transformation into self-driven DX organizations. It has a highly recurring revenue structure with 21 enterprise clients (FY2025 (ended August 2025)) and a customer retention rate of 86.6%.
Recent Overview
Revenue and profit declined significantly, leading to a downward revision of the full-year earnings forecast; a subsidiary was established to strengthen upstream functions
For the nine months cumulative of FY2026 (ending August 2026) (September 2025 to May 2026), revenue was ¥3,480 million (down 4.7% year on year), and operating profit was ¥344 million (down 40.4% year on year), a significant decline in profit. In the DX Promotion Support Business, the scaling back and termination of maintenance projects, a gap period in smart mobility-related projects, and delayed order intake for healthcare industry projects overlapped. Meanwhile, in the DX Support Products/Services Business, revenue from new products such as LumApps, IBM i modernization, and Contentserv expanded. In April 2026, the company established a subsidiary, "Institute for Social Value Transformation Co., Ltd.," aimed at strengthening its strategic consulting function. Based on recent order trends and other factors, the company revised downward its full-year consolidated earnings forecast (revenue of ¥4,657 million, operating profit of ¥413 million).
Key Products
Growth Drivers
- Continued expansion of corporate DX investment (domestic DX market projected to expand to ¥9,266.6 billion by 2030)
- Deepening of the enterprise client base (expansion of loyal customers with annual transaction value of ¥200 million or more)
- Expansion of the DX support products/services business (increased license sales of LumApps, IBM i modernization, and Contentserv)
- Continued increase in the number of consultant/engineer employees (213 as of end of August 2025) and rising proportion of foreign-origin talent (19.1%)
- Establishment of strategic consulting subsidiary "Institute for Social Value Transformation Co., Ltd." (April 2026) to strengthen upstream consulting functions
Risks
- Risk of revenue concentration in specific clients (Nipro Digital Technologies Co., Ltd. 19.9%, Nipro Corporation 11.0%, Toyota Tsusho Systems Corporation 10.1%)
- Risk of short-term revenue fluctuation due to gap periods between projects or delayed project commencement (materialized in smart mobility and healthcare industry projects)
- Risk of growth constraints due to dependence on human resources such as consultants and engineers
- Risk of intensifying competition for and difficulty securing DX promotion talent (domestic advanced IT talent shortage projected at 545,000 people by 2030)
- Risk of delayed response to technological innovation (generative AI, cloud, etc.)
- Risk of short-term revenue decline due to scaling back or terminating maintenance projects based on profitability considerations
Last updated: March 19, 2026