Palma Co,.Ltd
3461・Standard Market・Real Estate
Business
Palma Inc. is a service provider specializing in the self-storage (rental storage space/trunk room) industry. In its core Business Solution Service, the company provides a BPO Service with Rent Debt Guarantee, establishing an infrastructure-like position utilized by approximately 60% of domestic self-storage operators. In its IT Solution Service, it operates the Web Reservation/Payment & Inventory Management System "Claris" (79,939 units installed) and the customer acquisition service "Kuragime". In its Turnkey Solution Service, the company handles facility development, sales, and rental operations in an integrated manner. It launched its self-storage BPO business in 2006, listed on the TSE Mothers market in 2015, changed its listing category to the TSE Standard Market in March 2025, and achieved a new listing on the Nagoya Stock Exchange Main Market in May of the same year.
Business Model
The core of earnings is the BPO Service with Rent Debt Guarantee within the Business Solution Service, a stock-type model in which the company undertakes tasks such as application processing, payment management, delinquency collection, storage item removal, and facility patrols on behalf of self-storage operators, and continuously earns fees based on the number of contracts and units. The contract balance at the end of FY2025 (ending September 2025) stood at 135,411 units (up 5.5% year on year). In addition, the Turnkey Solution Service generates flow revenue from facility development and sales, as well as rental revenue through Master Lease (Rental Operations).
Company Strengths
The BPO Service with Rent Debt Guarantee is utilized by approximately 60% of domestic self-storage operators, with the outstanding balance of contracts under management reaching 135,411 as of the end of FY2025 (fiscal year ended September 2025) (up 5.5% from the previous fiscal year-end), and new contracts totaling 38,355 (up 6.5% year on year), showing stable accumulation. The one-stop system covering everything from application intake to payment management, delinquency collection, and removal of abandoned property forms a barrier to entry.
The number of units utilizing the Web Reservation/Payment & Inventory Management System "Claris" has reached 79,939, supporting customer acquisition and operational efficiency in conjunction with the API-based customer acquisition service "Kuragime (Customer Acquisition Service)" and the portal site "Niconico Trunk." The combined service integrating IT with guarantee and BPO functions raises customer switching costs and promotes continued usage.
As of the end of FY2025 (fiscal year ended September 2025), the equity ratio stood at 63.8%, and net assets totaled ¥2,420,754 thousand, indicating high financial soundness. The company holds cash and deposits of ¥2,238,684 thousand, while the outstanding balance of borrowings remains limited to ¥898,648 thousand. Overdraft agreements with 11 financial institutions ensure a system capable of responding to sudden funding needs.
ENVALITH's Perspective
Performance Trend
Over the past five fiscal years, revenue has been highly volatile, peaking at ¥3,637 million in FY2021 before contracting to ¥2,312 million in FY2025. Operating profit, on the other hand, has been on an improving trend, reaching ¥148 million in FY2025, and in the first half of FY2026 (ending September 2026), revenue was ¥1,070 million (up 2.5% year on year) while operating profit was ¥58 million (up 116.9% year on year), with profitability improving at an accelerating pace. The main drivers were a reduction in cost of sales (down ¥26 million year on year) and an improvement in gross margin (from 43.1% to 46.9%). As an external factor, the recovery in personal consumption, underpinned by improving employment and income conditions, has been supporting demand for self-storage. The structure is such that achieving the full-year target hinges on facility sale revenue from the Turnkey Solution Service in the second half.
Growth Strategy
Promotion of "Kaikaku 2027" driven by two pillars: achieving a BPO outsourced balance of 200,000 cases and turning the facility development and rental business profitable
The outsourced balance of the BPO Service with Rent Debt Guarantee reached 140,813 cases as of the end of the first half of FY2026 (ending March 2026) (up 4.0% from the end of the previous fiscal year). The company is expanding business opportunities through business alliances and expansion into adjacent industries, including the introduction of Area Link's "partner system," the introduction of operational business support for TEPCO-owned land, and the expanded provision of the Collection Agency Service with Delinquency Guarantee for rental offices.
In March 2026, "Keepit Ikegami-Kugahara," jointly developed with Mitsubishi Estate, was opened. "Keepit Yokohama Sotomachi" was also completed and opened on schedule. The company is promoting the construction of a new urban infrastructure model, aiming to contribute to earnings by expanding the number of operated facilities and improving occupancy rates.
In January 2026, the company acquired investment income real estate in Konosu City, Saitama Prefecture, and is earning rental income from it. The company plans to sell the property after enhancing its value during the current fiscal year, and expects the Turnkey Solution Service to contribute to earnings in the second half. The balance of real estate for sale has built up to ¥1,129 million, and realizing the sale is key to achieving the full-year target.
In addition to the existing BPO, IT, and facility development businesses, the company has positioned Facility Opening Consulting and Storage Item Removal & Organization Related Service as newly focused services and is promoting sales expansion activities. Taking advantage of the favorable external environment of the expanding self-storage market, the company aims to diversify its revenue sources by diversifying its service lineup.
Last updated: July 17, 2026