ENVALITH
株式会社クロス・マーケティンググループ logo

Cross Marketing Group Inc.

3675・Standard Market・Information & Communication

Official website
株式会社クロス・マーケティンググループ logo
Cross Marketing Group Inc.3675

Business

Cross Marketing Group Inc. is a comprehensive marketing solutions company operating across three segments: Digital Marketing Business, Data Marketing Business, and Insight Business. With 31 consolidated subsidiaries and 3 affiliated companies in Japan and overseas, the company provides a wide range of services—including online and offline marketing research based on a survey monitor panel of approximately 14.1 million people, DX-related IT solutions, influencer marketing, and consumer insight analysis—leveraging its capability to conduct surveys in 85 countries in Japan and abroad. Its main clients include general business corporations, advertising agencies, and consulting firms.

Business Model

The company's core revenue driver is Internet Research (Online Research) utilizing the 14.1 million-member monitor database managed by its affiliate Research Panel Inc., building added value through aggregation, analysis, and insight delivery. In the Digital Marketing Business, it operates promotional media, undertakes contracted IT system development, and provides staffing services, among other activities. The company actively uses M&A to expand its service lines, structuring its business to grow revenue through end-to-end proposals to clients driven by group synergies.

Company Strengths

Holds Japan's largest-scale survey monitor panel, managed by Research Panel Inc., comprising 14.1 million people (including affiliated panels). Special monitors are classified and managed using detailed profiles spanning approximately 20 categories and up to 2,500 items, enabling delivery in as little as 24 hours. This forms an entry barrier that serves as a differentiating factor against competitors.

In FY2025 (ended June 2025), the Data Marketing Business segment achieved a high segment profit margin of 30.1% (net sales of ¥9,914 million, segment profit of ¥2,987 million). Solid demand for domestic online research, combined with a recovery in demand at the North American operations of the Kadence group, drove a substantial year-on-year profit increase of 34.4%.

Since its establishment in 2003, the company has carried out numerous M&A transactions, including EXCRE Inc., REECH Inc., Tokyo Getz Inc., Creative Resource Institute Inc., and Coum Inc. In FY2025 (ended June 2025), net sales of the Digital Marketing Business increased 17.4% year on year to ¥12,521 million, continuing growth that includes the effects of M&A.

ENVALITH's Perspective

Cumulative results for the first nine months of FY2026 (ending June 2026) showed revenue of ¥23,596 million (up 5.9% year on year), maintaining revenue growth, while operating profit declined significantly to ¥2,118 million (down 10.6% year on year). Despite gross profit remaining nearly flat (¥8,766 million), the main cause was an increase in selling, general and administrative expenses to ¥6,648 million (up 4.0% year on year). Segment profit in the Research & Insight Business fell to ¥2,930 million (down 11.2% year on year), and cost control and margin recovery will be the key focus points going forward.

The full-year earnings forecast remains unchanged, with revenue of ¥32,000 million (up 10.7% year on year) and operating profit of ¥2,800 million (up 11.0% year on year). The operating profit progress rate for the cumulative nine months stood at only 75.6%, meaning that Q4 alone would need to generate ¥682 million in operating profit to achieve the full-year target. Even accounting for seasonal factors, the degree of profit concentration in Q4 is high, making it important to assess the likelihood of achieving the target.

DIGITALIO (operator of ECnavi and PeX) and Research Panel, which became wholly owned subsidiaries on April 14, 2026, will begin contributing to consolidated results from Q4 (April to June 2026). The total acquisition consideration was ¥1,500 million, funded in part by a related borrowing of ¥3,000 million (5-year, unsecured). Close attention should be paid to the amount of goodwill recorded, the financial burden involved, and the timing of synergy realization, and how these will affect future earnings and financial indicators.

Growth Strategy

Under "Unite & Generate," the company is pursuing M&A and group synergies to achieve sales of ¥50.0 billion in FY2030 (ending June 2030)

Growth was driven by Influencer Marketing / IP Promotion (up 13.4% year on year), Marketing HR (up 19.2%), and SI/DX Consulting (up 12.7%). Cumulative external customer sales for the first nine months reached ¥10,783 million (up 14.3% year on year). Robust ongoing demand for DX and AI investment is a tailwind.

On April 14, 2026, the company made DIGITALIO (operator of EC Navi and PeX, providing digital promotion and DX support) and Research Panel (operator of survey sites) wholly owned subsidiaries. Total acquisition consideration was ¥1,500 million. The company aims to capture synergies from strengthening the Social & Digital Promotion field and expanding the panel network from the fourth quarter onward.

The former "Data Marketing Business" and "Insight Business" have been integrated and reorganized as the "Research/Insight Business." The company aims to deepen high-value-added areas such as consumer insight discovery and data analysis, and strengthen one-stop provision through synergies with the Digital Marketing Business. Turning around overseas operations also remains a challenge.

Under the medium-term management policy "Unite & Generate," the company aims for annual growth of approximately 15% through active M&A and group synergies. The full-year sales forecast of ¥32,000 million for FY2026 (ending June 2026) represents a 10.7% increase year on year, and further acceleration of growth will be needed to achieve the target.

Last updated: July 17, 2026