ENVALITH
株式会社じげん logo

ZIGExN Co., Ltd.

3679・Prime Market・Information & Communication

Official website
株式会社じげん logo
ZIGExN Co., Ltd.3679

Business

jigen Co., Ltd. is a corporate group (25 companies) that operates internet platforms across a wide range of life-related areas including HR, real estate, travel, and energy. Its core Life Service Platform Business originates from aggregation media that integrate information from multiple media outlets, and has expanded into specialized media, job placement, and system businesses. It is organized around three axes: specialized HR areas (Vertical HR) such as beauty, pharmacy, manufacturing, construction, transportation, and resorts; real estate, renovation, and energy areas (Living Tech); and comparison media and travel areas (Life Service). It targets both individual users and corporate clients (advertisers and hiring companies).

Business Model

This is a model that attracts large numbers of users through aggregation media, and generates revenue by referring and mediating deal closures for corporate clients through specialized media and job placement businesses. In addition to advertising placement fees (CPC/CPA-based), the company has multiple revenue sources including recruitment success fees, staffing fees, and system usage fees. Through M&A, the company expands into specialized fields, and enhances investment efficiency by leveraging its existing customer base and marketing know-how in newly acquired subsidiaries.

Company Strengths

Built specialized HR businesses through consecutive M&A, including Rejob (beauty), Any+Career (pharmacy), Ties (manufacturers), Upbase (construction), Awesome Agent (transportation), and Alpha Staff (resorts). In FY2026 (ending March 2026), Life Service Platform Business revenue reached ¥28,549 million, with Vertical HR achieving core business status (Z CORE: revenue exceeding ¥10 billion).

In FY2026 (ending March 2026), revenue was ¥29,221 million against operating profit of ¥5,913 million (operating margin of approximately 20.2%), with EBITDA of ¥7,592 million. Both revenue and operating profit have increased for five consecutive fiscal years since FY2022 (ended March 2022), with post-M&A PMI (including Ties) progressing smoothly, achieving scale expansion while maintaining profit levels.

Web marketing and matching technology know-how accumulated since the launch of the Life Media Platform Business in 2008 has been redeployed to newly acquired companies and the Other segment (including Minna no Denwa Uranai). Other segment profit improved significantly, up 84.4% year-on-year to ¥142 million, reflecting the horizontal deployment effect of existing assets in the figures.

ENVALITH's Perspective

The year-over-year revenue growth rate accelerated from 9.5% (FY2025, ended March 2025) to 14.8% (FY2026, ending March 2026), while the operating margin declined from 22.2% to 20.2%. The increase in selling, general and administrative expenses (¥17,642 million, up 15.7% year-on-year) associated with the expansion of the consolidation scope through M&A is pressuring the margin, and balancing scale expansion with profitability improvement remains an ongoing challenge.

The goodwill balance stood at ¥13,483 million, accounting for 33.2% of total assets of ¥40,556 million, an increase of ¥2,611 million year-on-year. Meanwhile, cash flow from operating activities decreased significantly from ¥7,331 million in the previous period to ¥4,250 million (mainly due to a ¥1,177 million decrease in deposits received). Investing cash flow also showed an outflow of ¥3,825 million due to continued M&A investment, making the level of free cash flow and the management of goodwill impairment risk important monitoring points from a financial discipline standpoint.

The company's forecast for FY2027 (ending March 2027) calls for revenue of ¥33,500 million (up 14.6% year-on-year) and operating profit of ¥6,430 million (up 8.8% year-on-year). Amid continued headwinds in the Living Tech and Life Service domains due to geopolitical risks in the external environment (declining relocation demand and slowing overseas travel demand), solid recruitment needs in Vertical HR and the full-year contribution of newly consolidated subsidiaries hold the key to achieving the forecast. The company plans to raise its dividend to ¥13.50 per share (payout ratio of 30.5%), and the strengthened shareholder return policy is also a point of note.

Growth Strategy

Three pillars: deepening existing platforms, expanding domains through M&A, and cultivating new monetization models

Expanding specialized staffing services in beauty, pharmacy, manufacturing, construction, transportation, resort and other fields through M&A. In FY2026 (ending March 2026), Any Career (pharmacy) and Alpha Staff (resort) were newly consolidated, with ¥2,439 million spent on acquisition of subsidiary shares. Sustained high levels of hiring demand are driving growth in the core segment.

Expanding advertising and lead-based revenue through media such as Chintai Sumocca, SEKAI PROPERTY, Rehome Navi, and Enepi. Rising demand for switching utility providers (Enepi), driven by heightened cost-saving needs amid price increases, is providing a tailwind. On the other hand, responding to external headwinds such as geopolitical risk and declining moving demand remains a challenge.

Cultivating consumer monetization services and new businesses centered on CORDA Inc. In FY2026 (ending March 2026), Other segment profit was ¥142 million, a significant improvement year on year, with profitability improving. The company continues its strategy of applying web marketing and matching technology accumulated in the Life Service Platform Business to new businesses.

Last updated: July 19, 2026