Hobonichi Co., Ltd.
3560・Standard Market・Retail Trade
Business
Hobonichi Co., Ltd. originated from the website "Hobonichi," launched in 1998, and operates a diverse range of "places" including merchandise sales centered on its flagship product, the Hobonichi Techo; the video streaming service Hobonichi no Gakko; the real-world event Seikatsu no Tanoshimi Ten; the gallery shop Hobo Nichiyoubi / TOBICHI; and the SNS app "Dokonoko." Under its guiding principle of "Gentle, Strong, Interesting," the company integrates the planning, editing, production, and sale of content, placing at the core of its business the delivery of "good time" to consumers both in Japan and overseas. Its main customers are individual consumers in Japan and abroad with an interest in notebooks and stationery. In FY2025 (ending August 2025), net sales reached ¥8,677 million, and unit sales of the Hobonichi Techo reached a record high of 960 thousand units.
Business Model
The majority of revenue is generated from merchandise sales centered on the Hobonichi Techo, with direct sales (through the company's own e-commerce site, "Hobonichi Online Store") accounting for ¥6,166 million (71.1% of revenue) and wholesale accounting for ¥1,965 million (22.7% of revenue). While expanding purchasing touchpoints through external e-commerce platforms such as Amazon, Rakuten Ichiba, and Tmall Global, as well as through domestic and overseas wholesale partners, the company builds its brand through web content, events, and social media, which underpins repeat purchases and new user acquisition. Other revenue (shipping fees, services, licensing income, etc.) totaled ¥545 million.
Company Strengths
Sales volume for the 2025 edition reached a record high of 960,000 units (versus over 900,000 units in the prior year). Net sales were ¥5,850 million (up 18.4% year on year), and gross profit margin was maintained at a high level of 62.9% (up 0.7pt year on year). The overseas sales ratio, combining domestic and international sales, reached 52.5%, establishing the brand's position as a global brand.
In addition to the company's own e-commerce (direct sales), the company operates through external e-commerce channels such as Amazon (domestic and overseas), Rakuten Ichiba, and Tmall Global, as well as domestic and overseas wholesale sales. Wholesale sales for FY2025 (ending August 2025) were ¥1,965 million (up 14.8% year on year). Real-world events such as the "Hobonichi Techo Meeting Caravan" held in New York, London, and other cities are also being leveraged to expand sales channels.
As of the end of FY2025 (ending August 2025), the equity ratio was 70.7% (69.7% in the prior period), and interest-bearing debt was zero (both the cash flow-to-interest-bearing-debt ratio and the interest coverage ratio are not applicable). The current ratio remained high at 272%, and the company maintains financial soundness, funding growth investments and dividend payments (¥104 million paid) from its own funds.
ENVALITH's Perspective
Performance Trend
Revenue grew for five consecutive periods, from ¥5,640 million in FY2021 to ¥8,678 million in FY2025. In the cumulative nine months of Q3 FY2026 (ending August 2026), revenue already reached ¥8,028 million (up +16.9% year-on-year), representing progress of 84.5% against the full-year forecast of ¥9,500 million. Operating profit expanded sharply, up 64.1% year-on-year to ¥1,188 million, driven mainly by an improvement in the cost-of-sales ratio (down 4.2pt year-on-year to 35.1% overall) and a shift of expenses related to Seikatsu no Tanoshimi Ten to the fourth quarter. As an external factor, sales commissions increased due to the expansion of directly operated overseas sales channels, but this was absorbed through scale benefits. The full-year forecast (operating profit of ¥680 million) remains at a conservative level, significantly below the cumulative Q3 results.
Growth Strategy
Pursuing sustainable growth through deepening overseas markets, launching new digital services, and cultivating diverse 'places' of engagement
In addition to overseas Amazon and Western wholesale channels, the company strengthened its North American management foundation through a capital increase (USD 330,000, completed June 2026) in Hobonichi Inc., a US subsidiary established in November 2025. Consolidated financial statements are planned to begin from the fiscal year-end of FY2026 (ending August 2026). Overseas sales continued to grow strongly, up 36.0% year on year on a cumulative 3Q basis.
On October 15, 2025, the company released the Hobonichi Techo App as the digital version of the 'LIFE no BOOK'. The app has seen strong usage by many users immediately following its release, marking a solid start. The company aims to acquire new users and enhance engagement among existing users through synergies with the physical Techo.
For the 2026 edition, the company realized new collaborations including 'Tamagotchi,' 'Moomin,' and 'Detective Conan' (first-time collaboration). Cumulative sales volume for the 2026 edition through 3Q reached 1.10 million copies, significantly exceeding the 940,000 copies in the same period of the previous year. Continued expansion of reach across a broad customer base is supporting ongoing sales volume growth.
The company opened a new location, 'Hobo no Eki AKAGI,' at Torii Pass on Mt. Akagi in Gunma Prefecture. Trial operations began in November 2025, followed by the grand opening on April 24, 2026. The initiative aims to expand brand experiences through regional collaboration and create new points of customer contact.
Last updated: July 17, 2026