Medix Inc.
331A・Standard Market・Services
Medix Inc.
331A・Standard Market・Services
Business
Medix Inc. originated as an advertising production house founded in 1984, transitioning to an internet advertising agency business model in 1997. It now provides comprehensive services centered on Managed/Programmatic Advertising (BtoC/BtoB) (search-linked, display, and feed), extending to Marketing DX & Access Analytics (M-Data), Website Production (Web Integration), Inside Sales Support (Sales Lab), and support for market entry into Taiwan and Asia. The company maintains a specialized organizational structure divided into three areas—BtoC, BtoB, and data management—according to the business model characteristics of client companies, supporting mid- to long-term problem resolution through a one-stop system centered on account planners as the point of contact. It listed on the Standard Market of the Tokyo Stock Exchange in March 2025, and is currently expanding its business domain through the consolidation of Sales Lab (inside sales) and Asia Star Communications Co., Ltd. (Taiwan) as subsidiaries. Its main clients are domestic companies in both the BtoC and BtoB sectors, with the ratio of transaction volume from existing customers reaching 95.1% (FY2026 (ending March 2026)).
Business Model
The company's main revenue comes from sales and management fees for Managed/Programmatic Advertising (BtoC/BtoB) (search-linked, display, feed), securing stable advertising inventory procurement capability by concluding certified partner agreements with major media platforms such as Google, Meta, and LINE Yahoo. In addition, it raises customer unit value by cross-selling peripheral services such as Website Production (Web Integration), Marketing DX & Access Analytics (M-Data), and Inside Sales Support (Sales Lab). The dedicated account planner system strengthens customer grip and achieves long-term continuous transactions. The gross profit margin for FY2026 (ending March 2026) stands at a high level of approximately 87%, and it is a labor-intensive model in which SG&A expenses, mainly personnel costs, determine profitability.
Company Strengths
The company has more than 20 years of operational track record in search-linked advertising and has obtained certifications from 14 or more major media and tool vendors, including Google Premier Partner, Meta Business Partners, and LINE Yahoo Select. This high level of expertise and reliability underpins customer acquisition and retention, reflected in the high customer retention rate, with the existing-customer share of transaction volume at 95.1% (FY2026 (ending March 2026)).
Account planners who design overall digital marketing strategy are assigned exclusively to a small number of clients, building a one-stop structure that provides consistent control over ad operation, production, analytics, and CRM. With a track record of supporting over 400 BtoB companies since 1998, the company has formed deep client relationships in both the BtoC and BtoB domains. This structure is recognized within the industry as providing strong customer retention capability.
The company established a dedicated data measurement and analysis organization in 2007, ahead of the industry, and in 2021 began offering the Marketing DX & Access Analytics (M-Data) solution utilizing BigQuery and Tableau. It also holds multiple in-house developed specialized organizations and tools, including the Feed Advertising Tool "M-Feed" (launched in 2016) and the dedicated advertising creative organization "B-SOKU" (established in 2016), differentiating itself from competitors.
ENVALITH's Perspective
Performance Trend
FY2026 (ending March 2026) marks the first year of consolidated financial statements. Consolidated net sales were ¥4,256 million, operating profit was ¥659 million, and operating margin was 15.5%. On a non-consolidated basis, net sales were ¥3,996 million (down 4.0% year-on-year from ¥4,161 million), operating profit was ¥696 million (down 13.2% from ¥802 million), and net income was ¥486 million (down 39.5% from ¥803 million), reflecting a significant profit decline. While external conditions such as expanding DX demand and stable growth in the internet advertising market continued, costs associated with the subsidiary consolidation, recognition of retirement benefit obligations, and share buybacks (¥257 million) weighed on profits. Comprehensive income was ¥403 million, below net income, reflecting the impact of remeasurements of defined benefit plans (-¥33 million).
Growth Strategy
Under the 'Beyond Advertising' strategy, the company is capturing comprehensive marketing demand through M&A and alliances
Positioning the BtoB domain as a key focus area, the company is leveraging the inside sales capabilities of Sales Lab Co., Ltd., which became a subsidiary in September 2025, to strengthen integrated sales and marketing support for client companies. The aim is to capture comprehensive marketing demand extending beyond digital advertising.
In January 2026, Asia Star Communications Co., Ltd. (Taiwan) and its subsidiaries were consolidated. Tangible fixed assets of ¥19,175 thousand from the Taiwan base were added to consolidation, building a digital marketing support framework across the Asian region. The company plans to continue maximizing the value it provides through collaboration and strategic alliances with external partners.
The company is promoting the use of generative AI and AI services provided by advertising and marketing platforms, together with operational efficiency improvements, and combining these with talent development and securing excellent personnel to maintain and improve the quality of services provided to clients while improving profit margins. For FY2027 (ending March 2027), consolidated operating margin is forecast at 14.2% (¥707 million / ¥4,975 million).
Last updated: July 19, 2026