MEDIA DO Co.,Ltd.
3678・Prime Market・Information & Communication
Electronic Book Distribution Business
Core segment serving as publishing industry infrastructure as Japan's largest eBook wholesale/distribution operator
| Period | Current | Previous | Change |
|---|---|---|---|
| Segment sales (Q1 cumulative, FY2027 (ending February 2027)) | ¥25,141 million | ¥24,203 million (Q1 cumulative, FY2026 (ending February 2026)) | ↑ |
| Segment profit (Q1 cumulative, FY2027 (ending February 2027)) | ¥1,159 million | ¥1,202 million (Q1 cumulative, FY2026 (ending February 2026)) | ↓ |
| Segment profit margin (Q1 cumulative, FY2027 (ending February 2027)) | 4.6% | 5.0% (Q1 cumulative, FY2026 (ending February 2026)) | ↓ |
| Number of partner publishers | Over 2,200 companies | Over 2,200 companies | — |
| Number of content titles handled | Over 3.26 million titles | Over 2.6 million files | ↑ |
| Number of campaigns managed | Over 20,000 per year | Over 18,000 per year | ↑ |
| Goodwill amortization (Q1 cumulative, FY2027 (ending February 2027)) | ¥115 million | ¥113 million (Q1 cumulative, FY2026 (ending February 2026)) | ↑ |
Business Details
A business that receives eBook content from publishers and distributes it to eBook stores via a delivery system. As of the end of February 2026, the company had over 2,200 partner publishers, more than 150 eBook stores, over 3.26 million content titles handled, and more than 20,000 campaigns managed annually. In addition to distribution to major eBook stores such as "Comic Seymour" and "Amazon Kindle," the segment also provides eBook Distribution Solutions. This core business accounts for approximately 93% of consolidated net sales.
Recent Overview
New commercial channel from Mechacomic contributed to higher sales, but termination of high-margin service led to lower profit
In the cumulative first quarter of FY2027 (ending February 2027), net sales reached ¥25,141 million (up 3.9% year on year), driven by the contribution of "Mechacomic," with which the company began transactions in July 2025. On the other hand, segment profit declined to ¥1,159 million (down 3.6% year on year) due to the impact of the termination of a high-margin service during the cumulative nine months of the previous fiscal year. The number of content titles handled continued to expand to over 3.26 million, and the number of campaigns managed continued to expand to over 20,000 per year.
Key Products
Growth Drivers
- Continued expansion of the eBook market (domestic market size of approximately ¥6,700 million in fiscal 2024, projected to reach approximately ¥800 billion by fiscal 2029)
- Full-year contribution of the new commercial channel with "Mechacomic," which began in July 2025
- Expansion of content titles and campaign management volume driven by growth in the number of partner publishers and eBook stores
- Rising demand for wholesale/distribution driven by the spread of diverse delivery formats such as serialized episode delivery
- Accelerated global expansion leveraging Seven Seas Entertainment, LLC, which became a subsidiary in March 2026
Risks
- Risk of declining profitability due to the termination of a high-margin service (occurred in the previous third quarter, with effects continuing)
- Short-term profit pressure from upfront investment in system development costs, etc., related to overseas expansion
- Risk of sales concentration in specific customers such as NTT Solmare and Amazon
- Risk that the slowing growth rate of the eBook market could cap growth in wholesale/distribution volume
- Risk of delivery errors and reputational damage due to information security incidents
Last updated: May 28, 2026