Palma Co,.Ltd

Business Details

Provides BPO services (application processing, payment management, delinquency collection, abandoned item removal, and property patrol) with rent debt guarantee attached, for self-storage operators. In addition, this segment includes IT solution services such as the web reservation/payment and inventory management system "Claris (Web Reservation/Payment & Inventory Management System)" and the facility search site "Kuragime (Customer Acquisition Service)". Used by approximately 60% of domestic self-storage operators, the company has built a recurring-revenue (stock-type) business model through the accumulation of outstanding contracted balances.

Recent Overview

BPO outstanding contracted balance expanded to 140,813 contracts, with both revenue and profit increasing year on year

In the interim period of FY2026 (ending March 2026) (October 2025 to March 2026), additional installations at existing operators and new installations at major operators progressed, expanding the outstanding contracted balance of the BPO Service with Rent Debt Guarantee to 140,813 contracts, up 4.0% from the end of the prior fiscal year. New contracts numbered 20,892 (up 7.4% year on year). Business opportunities were also created, including the expansion of BPO services for "Hello Storage" through the adoption of the "Partner Program" offered by Area Link Co., Ltd. Revenue was ¥766 million (up 7.0% year on year) and operating income was ¥264 million (up 10.7% year on year), continuing stable growth.

Key Products

Growth Drivers

• Accumulation of the BPO outstanding contracted balance through additional installations at existing operators and new installations at major operators (140,813 contracts at the end of the interim period of FY2026 (ending March 2026), up 4.0% from the end of the prior fiscal year)
• Sustained high level of usage demand driven by the continued expansion of the self-storage market
• Expanded adoption of IT solutions through Claris (growth in additional installations at existing operators and new installations at major operators)
• Expansion and creation of business opportunities through business alliances, such as the adoption of the "Partner Program" of Area Link Co., Ltd.
• Horizontal expansion into adjacent industries through the expanded provision of the "Collection Agency Service with Delinquency Guarantee" and "Claris" for the rental office business
• Expanded transactions with major corporations, including the introduction of operational support services for TEPCO Land Corporation

Risks

• Since the company does not hold strong entry barriers such as patents, there is a risk of competitors entering with similar services
• As the number of contracted BPO cases increases, the number of rent delinquency cases may also increase, potentially raising costs such as storage item removal expenses and recovery costs for indemnity claims (allowance for doubtful accounts balance: ¥339 million at the end of the interim period of FY2026 (ending March 2026))
• There is a risk that stagnation in personal consumption due to rising prices could suppress demand for self-storage usage, slowing the growth of the outstanding contracted balance
• Risk of non-recovery of indemnity claims (indemnity claims balance: ¥585 million at the end of the interim period of FY2026 (ending March 2026), up ¥78 million from the end of the prior fiscal year)
• Because of a lean, specialized organizational structure, securing and developing the human resources needed for business expansion is a challenge