Temairazu, Inc.
2477・Standard Market・Information & Communication
Business
Temairazu, Inc. operates the reservation site controller 'TEMAIRAZU' series as its core business, which enables hotels, ryokan, and other lodging facilities to centrally manage inventory and rates across multiple booking sites and their own reservation engines. Founded in 2003 as an operator of comparison sites, the company acquired and integrated the accommodation booking site controller business in 2007, and currently operates two segments: the Application Service business (over 99% of net sales) and the Internet Media business (the comparison site 'Hikaku.com'). Its main customers are domestic lodging facilities, and it continues to grow on the back of expanding inbound demand. After transitioning to the Tokyo Stock Exchange Prime Market in April 2022, the company re-selected to the Standard Market in October 2023.
Business Model
Revenue is composed mainly of two pillars: fixed monthly basic usage fees and option usage fees, plus variable fees linked to the number of reservations. Fixed revenue accumulates steadily due to a low churn rate and an increase in new contracts, while variable revenue expands in tandem with the rise in accommodation reservations driven by growing inbound demand. Expanded integration with domestic and overseas OTAs and systems raises customers' switching costs, supporting a high customer retention rate. The operating margin for FY2025 (ending June 2025) reached 73.6%, achieving an extremely high-profitability structure.
Company Strengths
Operating margin for FY2025 (ended June 2025) was 73.6% (up 0.6 points year-on-year). Operating profit of ¥1,609 million was recorded against revenue of ¥2,185 million. The low marginal cost structure inherent to the SaaS model, combined with an accumulating revenue structure supported by a low churn rate, has enabled five consecutive periods of revenue and profit growth while maintaining a high profit margin.
In FY2025 (ended June 2025), the company began new partnerships with Klook (70 million monthly users), Hopper Platform, IDeaS G3 RMS (the first domestic site controller integration), unito, AEON Compass Travel Mall, and several Korean OTAs, among others. A broad partnership network including DerbySoft, Oracle OPERA Cloud, and D-EDGE CRS serves as a key differentiator from competitors.
As of the end of FY2025 (ended June 2025), cash and cash equivalents stood at ¥6,588 million, and the company maintained a debt-free balance sheet with zero fixed liabilities. Of total assets of ¥7,218 million, current assets accounted for ¥7,144 million, reflecting extremely strong financial health. The company maintained its cash and deposit balance even after executing ¥632 million in share buybacks and ¥227 million in dividend payments.
ENVALITH's Perspective
Performance Trend
Revenue over the past five fiscal periods expanded consistently from ¥1,610 million (FY2021) to ¥2,185 million (FY2025). For the nine-month cumulative period of Q3 FY2026 (ending June 2026), revenue reached ¥1,790 million (up 9.8% year-on-year), operating profit ¥1,281 million (up 6.6% year-on-year), and quarterly net profit ¥866 million (up 7.1% year-on-year), continuing the trend of increased revenue and profit. As an external factor, the number of inbound visitors to Japan remained high at approximately 10.68 million from January to March 2026 (up approximately 1.4% year-on-year), contributing to the expansion of monthly variable income. On the other hand, it should be noted that the growth rate of cost of sales and SG&A expenses exceeded that of revenue, causing the operating profit margin to decline by approximately 2.2 percentage points year-on-year. There has been no revision to the full-year earnings forecast (revenue of ¥2,365 million, operating profit of ¥1,640 million), and progress toward the forecast is generally on track.
Growth Strategy
Continued pursuit of higher ARPU and expanded customer base through TEMAIRAZU integration expansion and functional enhancement
Integrations with KKday (one of Asia's largest travel experience booking platforms), NEWT (travel app operated by Reiwa Travel), Agoda (automated booking-to-settlement), HKTV Booking (operated by the HKTV Group), and others were successively launched in Q3. By diversifying sales channels targeting inbound visitors to Japan, the company supports higher occupancy rates and increased revenue for accommodation facilities, while enhancing TEMAIRAZU's added value and switching costs.
Expanded and strengthened integration functionality with existing revenue management systems to enable automatic reflection of price and inventory controls. This addresses labor shortage challenges in the accommodation industry while supporting profit maximization and operational efficiency improvements for accommodation facilities, aiming to raise ARPU and maintain customer retention rates.
Exhibited at HOTERES JAPAN 2026 (Tokyo Big Sight) in February 2026 to expand service awareness and promote adoption. Continued promotional activities such as joint webinars with partner companies, aiming to build up monthly recurring revenue through new customer acquisition.
The annual dividend forecast for FY2026 (ending June 2026) is ¥40 (up ¥2 year on year). Despite conducting ¥878 million in share buybacks cumulatively through Q3, the equity ratio was maintained at 95.2%. The company aims to continue expanding shareholder returns funded by profit growth.
Last updated: July 17, 2026