Infomart Corporation
2492・Prime Market・Services
Business
Infomart Corporation is a company specializing in BtoB platforms, established in 1998. It comprises two segments: the BtoB-PF FOOD segment, centered on "BtoB Platform Ordering" and "BtoB Platform Specification Sheets" for the food industry, and the BtoB-PF ES segment, which handles electronic invoicing and commercial transaction DX for all industries through offerings such as "BtoB Platform Invoice" and "BtoB Platform TRADE." As of the end of December 2025, the total number of companies registered on the platform reached 1,251,169 companies and 2,339,162 business locations, with a customer base spanning a wide range of industries and business types, including restaurant chains, hotels, food wholesalers, and major manufacturers. The company is listed on the Prime Market of the Tokyo Stock Exchange.
Business Model
Revenue is largely composed of stock-type recurring revenue from monthly and annual system usage fees across the various "BtoBプラットフォーム" (BtoB Platform) services. Network effects arising from both buyers and sellers participating on the same platform mean that growth in the number of client companies translates directly into an accumulation of usage fee revenue. In addition, fee revisions (order processing: August 2024; invoicing: April 2025) that raised unit prices are accelerating the improvement in profitability. Cost of sales is mainly composed of data center costs and software amortization expenses, and the completion of the cloud migration in September 2024 substantially improved the cost structure.
Company Strengths
As of the end of December 2025, the total number of registered companies on the "BtoB Platform" reached 1,251,169 (up 101,870 from the previous period), with the number of business establishments reaching 2,339,162. In particular, "BtoB Platform Invoice" has 1,242,776 registered companies, and the entry barrier created by network effects is extremely high.
The August 2024 revision of order/procurement fees, the April 2025 revision of invoice fees (both contributing to higher unit prices), and the September 2024 migration to server cloud infrastructure (reducing data center costs) all contributed simultaneously. Cost of sales for FY2025 (ending December 2025) decreased 15.4% year on year to ¥5,058 million, and gross profit expanded sharply to ¥13,758 million.
Operating profit for the BtoB-PF FOOD business in FY2025 (ending December 2025) was ¥2,757 million, with an operating margin of 23.1%. The combined effects of the fee revisions, cost reductions from cloud migration, and continued net growth in the number of user companies (buyers +207, sellers +1,973) drove a 41.8% year-on-year increase in profit.
ENVALITH's Perspective
Performance Trend
Revenue increased for five consecutive fiscal years, from ¥9,836 million in FY2021 (ended December 2021) to ¥18,817 million in FY2025 (ended December 2025). Operating profit declined to ¥526 million in FY2022 (ended December 2022) before recovering sharply to ¥2,864 million in FY2025 (ended December 2025), driven by cloud migration and fee revision effects. In Q1 FY2026 (ending December 2026), revenue was ¥4,903 million (up 13.9% year on year), operating profit was ¥1,025 million (up 76.5% year on year), and quarterly net income attributable to owners of the parent was ¥610 million (up 99.6% year on year), marking a substantial increase across all profit metrics. Continued reductions in data center costs and the return to profitability of the invoicing business are driving margin improvement. As an external factor, the EC penetration rate in the domestic BtoB-EC market has expanded to 43.1% (up 3.1 points year on year), with growing digitalization demand supporting business performance.
Growth Strategy
Aiming for FY2026 (ending December 2026) sales of ¥21.3 billion and operating profit of ¥5.0 billion through deepening of the BtoB Platform, fee revisions, and strategic alliances
Continuing to acquire new buyer companies and their business locations, including restaurant chains, hotels, inns, and catering services. Strengthening sales activities for TANOMU to promote digitalization between food wholesalers and individual restaurants, aiming to increase system usage fee revenue and setup revenue. As of the end of March 2026, the number of wholesale companies with orders reached 1,639 (up 104 from the previous fiscal year-end), showing steady expansion.
The rise in system usage fee unit prices resulting from the fee revision implemented in April 2025 contributed to results in Q1 of FY2026 (ending December 2026), with ES business sales up 23.3% year-on-year to ¥1,852 million and operating profit turning positive (¥101 million). The number of paying companies using BtoB Platform TRADE expanded to 501 (up 53 from the previous fiscal year-end).
In March 2026, completed a third-party allotment of new shares and disposal of treasury stock with Dai-ichi Life Group as the allottee, raising over ¥17,454 million. The company aims to expand its customer base through the alliance with the major insurance group and to monetize synergies with investees such as invox using the raised funds.
The effect of data center cost reductions from the 2024 cloud migration continues, suppressing the increase in cost of sales. Full-year EBITDA for FY2026 (ending December 2026) is projected at ¥6,985 million (up 43.5% year-on-year). While personnel expenses are expected to increase, the policy is to limit the overall increase in SG&A expenses through a decrease in sales promotion expenses (following the completion of a large-scale branding initiative in Q4 of the previous fiscal year).
Last updated: July 17, 2026