ValueCommerce Co., Ltd.
2491・Prime Market・Services
Marketing Solutions Business
A core business supporting commerce operators' customer acquisition and sales promotion, centered on the performance-based "Affiliate" advertising service
| Period | Current | Previous | Change |
|---|---|---|---|
| Segment revenue (Q1 FY2026 (ending December 2026) cumulative) | ¥2,608 million | ¥13,025 million (full-year FY2025 (ended December 2025)) | — |
| Segment profit (Q1 FY2026 (ending December 2026) cumulative) | ¥289 million | ¥1,242 million (full-year FY2025 (ended December 2025)) | — |
| Segment profit margin (Q1 FY2026 (ending December 2026) cumulative) | 11.1% | 9.5% (full-year FY2025 (ended December 2025)) | ↑ |
Business Details
A business that provides solutions supporting customer acquisition and sales promotion for commerce operators. Its main service is the performance-based advertising service "Affiliate," which is offered to advertisers in three forms: ASP, consulting, and options. Advertisers attract consumers through media such as blogs, comparison sites, and point sites, and advertising costs are incurred only for actual results achieved, making it a highly cost-effective model. In Q1 FY2026 (ending December 2026), this core segment accounted for ¥2,608 million of the company's total revenue of ¥2,896 million.
Recent Overview
Shopping category strong but financial-sector ad placement policy changes had an impact; quarterly margin at 11.1%
In Q1 FY2026 (ending December 2026) (January to March 2026), the shopping category within Affiliate performed well, while the financial category was affected by changes in the ad placement policies of some advertisers. Segment revenue was ¥2,608 million and segment profit was ¥289 million (margin of 11.1%). Note that the transaction agreements for StoreMatch and STORE's R∞ were terminated as of July 31, 2025, and this impact is reflected in company-wide revenue.
Key Products
Growth Drivers
- Continued growth in the shopping category boosting Affiliate revenue
- Expansion of option service revenue (building on the FY2025 (ended December 2025) result of ¥3,391 million, up 49.1% year on year)
- Strengthened expansion into the SNS and social commerce domains via the influencer matching platform "BUZMA"
- Expanded reach to highly motivated user segments and creation of a new revenue source through "Reward DSP"
- Market environment characterized by e-commerce market expansion and growth in retail media and social commerce
Risks
- Risk of revenue fluctuation due to changes in advertisers' ad placement policies in the financial sector
- Impact on affiliate-driven customer acquisition from changes in search behavior driven by the spread of generative AI
- Intensifying competitive environment due to a structure of dependence by advertisers and media on major foreign platform operators
- Impact on tracking accuracy from tightening privacy regulations and cookie regulation uncertainty
- A revenue structure in which, due to the allocation of company-wide costs (adjustment amount of ¥452 million), the segment can be profitable on a standalone basis while the company as a whole records an operating loss
Last updated: March 26, 2026