Renet Japan Group, Inc.
3556・Growth Market・Retail Trade
Business
Re Net Japan Group operates the "Reuse & Recycling Business" (net sales of ¥8,451 million in FY2025 (ending September 2025)), whose core comprises the Reuse Business, offering home-delivery purchase and sales under the NETOFF brand, and the Small Home Appliance Recycling Business, conducted in partnership with 748 municipalities nationwide (covering a population of over 90 million). In addition, the company operates the Social Care Business (net sales of ¥1,958 million for the same period), which runs group homes for people with intellectual and mental disabilities and handles the Welfare-Specialized Overseas Human Resources Dispatch Business. The company's management is founded on an internet-specialized model with no physical stores, together with an "ES model" that simultaneously addresses environmental (E) and social (S) issues. Its main customers are general consumers (sellers and buyers of used goods), municipalities, and users of facilities for people with disabilities and elderly care. Founded in 2000, the company is listed on the TSE Growth Market.
Business Model
The Reuse Business generates its main revenue from the margin between home-delivery purchases from users and sales through the company's own EC site, Amazon, and other channels. The Small Home Appliance Recycling Business is built on partnerships with local governments, collecting items via internet applications and home delivery, and earns revenue from selling recovered materials to recycling operators as well as from optional services such as data erasure. The Social Care Business earns revenue from nursing care fees (a stock-type revenue source) for Group Homes for People with Disabilities (Communal Living Support) and from fees related to overseas human resources dispatch. The business structure relies on an internet platform model that requires no physical stores, keeping fixed costs low.
Company Strengths
As a nationally certified operator under the Small Home Appliance Recycling Act, the company partnered with 748 municipalities as of November 2025. Coverage population has reached over 90 million people, and the company has built a proprietary collection platform incorporated as part of administrative services. Revenue from this business in FY2025 (ended September 2025) continued its stable growth, increasing 10.5% year on year to ¥2,694 million.
Home-delivery purchase and sales under the NETOFF brand operates as a fully internet-completed model without any physical stores. Reuse Business revenue in FY2025 (ended September 2025) increased 7.0% year on year to ¥5,757 million. Owing to an asset-light structure that eliminates the need to maintain physical store costs, segment profit for the Reuse & Recycling Business segment as a whole grew 25.5% year on year to ¥1,083 million.
The company has incorporated general employment and Type B Continuous Employment Support Office roles for people with intellectual disabilities into the processes of the Small Home Appliance Recycling Business, building an ES model that links with the operation of group homes for people with disabilities. This is a proprietary business structure in which the Reuse & Recycling Business and the Social Care Business complement each other, serving as a differentiating factor that pursues both social issue resolution and monetization simultaneously.
ENVALITH's Perspective
Performance Trend
Revenue over the past five fiscal years peaked at ¥11,056 million in FY2023 and contracted to ¥10,412 million in FY2025, but the first half (6 months) of FY2026 (ending September 2026) already recorded ¥6,669 million (up 27.7% year on year), leading to an upward revision of the full-year forecast to ¥16,200 million (up 55.6% year on year). Operating profit turned positive, moving from a loss of ¥1,263 million in FY2024 to a profit of ¥301 million in FY2025, and recovered sharply to ¥539 million in the first half of FY2026 (up 394.6% year on year). In the Reuse & Recycling Business, market factors such as accelerating migration to online channels and the expansion of partnerships with local governments have functioned as external drivers of performance. On the other hand, operating cash flow remained negative at ¥237 million, and the company has secured its cash balance through financing activities generating ¥2,675 million in cash flow (including ¥3,070 million in long-term borrowings).
Growth Strategy
Deepening reuse and recycling while accelerating the ES model toward the Social Care Business target of 70–90 facilities by 2030
Against a backdrop of accelerating shift from physical stores to internet-based purchasing and sales in the media and hobby merchandise category, the company is enhancing brand recognition for the NETOFF brand and strengthening its handling of multiple categories including branded goods, precious metals, and figures. In the interim period of FY2026 (ending March 2026)... [note: fiscal year context corrected below]
Centered on partnerships with 768 local governments nationwide (as of April 1, 2026), the company is promoting expansion of its collection network through tie-ups with major manufacturers and retailers, as well as expanding value-added revenue through optional services such as data erasure. It also continues to enhance marketing to improve service awareness and utilization rates.
The company is accelerating direct-operation development and M&A-based facility acquisition of daytime-service-support group homes for people with moderate to severe disabilities. Through an organizational restructuring (planned for May 31, 2026) establishing RJ Social Care Group Co., Ltd. as an intermediate holding company, it aims to improve business management efficiency, targeting 70–90 facilities, Social Care Business net sales of ¥7.0–9.0 billion, and Non-GAAP operating income of ¥1.4–1.8 billion by 2030.
Against the backdrop of a domestic shortage of caregiving personnel (projected shortage of 690,000 people by 2040), the company is promoting expansion of its dispatch market into Indonesia in addition to Cambodia. While pursuing expansion measures amid robust hiring demand, the Social Care Business as a whole recorded a segment loss of ¥-11 million in the interim period of FY2026 (ending March 2026), as the business remains in an upfront investment phase.
Last updated: July 17, 2026