ENVALITH
リスクモンスター株式会社 logo

Riskmonster.com

3768・Standard Market・Information & Communication

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リスクモンスター株式会社 logo
Riskmonster.com3768

Business

Riskmonster Co., Ltd. was established in September 2000. It is a pioneer that independently developed the outsourcing market for screening and credit management operations in inter-company credit transactions. Centered on its core Credit Management Services (e-Yoshin Navi, Anti-Social Forces Check, etc.), the company operates five segments: the groupware ASP "J-MOTTO", the flat-rate e-learning service "Cybax Univ.", BPO Service (Digital Data Conversion Service and Anti-Social Forces Check Service (BPO)), and overseas business in China. Its main customers are domestic corporations (including small and medium-sized enterprises), and the number of members reached 15,042 IDs at the end of FY2026 (ending March 2026). Against a backdrop of corporate demand for risk management and compliance response, the company has established its position as credit risk management infrastructure.

Business Model

Of net sales of ¥3,824 million (FY2026 (ending March 2026)), Credit Management Services (¥2,050 million) and the Business Portal Site (¥635 million) form stable monthly subscription revenue through ASP/cloud services for corporate members. This is supplemented by spot and recurring orders in BPO Service (¥993 million) and spot revenue from Consulting Services. The structure aims to improve continued usage rates and per-customer revenue by embedding API integration and monitoring services into member companies' business workflows. As indicated by the EBITDA margin of 29.3% (FY2026 (ending March 2026)), the business is investment-front-loaded, including depreciation, and has relatively strong cash generation capability.

Company Strengths

Built on Japan's largest corporate database and bankruptcy track record accumulated over 25 years since its founding in 2000, the company provides its proprietary "RM Rating" (9-tier scale from A to F) and "RM Credit Limit." The rating logic, backed by historical bankruptcy data, is regularly updated, functioning as an intellectual asset that is difficult for competitors to replicate in a short period. In September 2024, the "Financial Statement AI-OCR" obtained a patent.

As of the end of FY2026 (ending March 2026), the equity ratio stood at 84.6% and net assets were ¥6,019 million. Interest-bearing debt was limited to ¥233 million in short-term borrowings, with a cash flow-to-interest-bearing debt ratio of 0.1 years and an interest coverage ratio of 497.6x, indicating extremely high financial soundness. The company has also secured commitment line agreements totaling ¥1,200 million with three transaction banks, maintaining investment capacity and financial flexibility.

The company holds a corporate membership base across Credit Management Services (8,445 member IDs), Business Portal Site (3,015 member IDs, 145,221 users), and Education-Related services (3,085 member IDs), enabling cross-selling across the group. In the BPO Service, the company has been building up projects linked to the credit management and compliance domains, such as Anti-Social Forces Check Service (BPO) and health checkup document data conversion, monetizing synergies within the group.

ENVALITH's Perspective

For FY2026 (ending March 2026), operating profit was ¥360 million (up 36.4% year on year) and ordinary profit was ¥378 million (up 30.7%), marking a clear reversal from four consecutive periods of decline. The main driver was margin improvement in Credit Management Services through data infrastructure efficiency gains and system operation optimization (segment margin rose from 12.5% to 17.3%), and the absence of the litigation-related loss (¥124 million) recorded in the prior period also contributed to the return to net profit (¥223 million). For FY2027 (ending March 2026)[sic], operating profit is projected at ¥400 million (up 11.1%), continuing the profit growth trend.

The Education-Related Business saw sales fall sharply to ¥186 million (83.2% of the prior-year level) and segment profit decline to ¥6 million (15.8% of the prior-year level) in FY2026 (ending March 2026). The main cause was sluggish performance in flat-rate and customized services, making it urgent to expand new services and review sales measures. Meanwhile, the China business (Other Services) saw its segment loss widen to ¥10 million (from a loss of ¥7 million in the prior period), impacted by a decline in orders for spot special investigations. Improvement in these two segments will be key to determining the scope for upside earnings surprises going forward.

Operating cash flow for FY2026 (ending March 2026) surged to ¥1,739 million from ¥226 million in the prior period, but this includes a one-time factor: ¥740 million in proceeds from the refund of litigation-related deposits. Excluding this, underlying operating cash flow is estimated at around ¥1,000 million. Given the scale of investing activities, centered on expenditures for acquisition of intangible fixed assets (¥925 million), it will be necessary to continue monitoring the sustainability of free cash flow generation. As an external factor, growing corporate demand for compliance is a tailwind, but competition and selectivity among services are also intensifying.

Growth Strategy

Under the 9th Medium-Term Management Plan (FY2026–FY2028), the company is advancing a growth strategy centered on Credit Management Services and BPO, targeting revenue of ¥4.5 billion in FY2028 (ending March 2028)

By fusing AI with corporate credit data and compliance information, the company is promoting embedded operational use of services such as e-Yoshin Navi, Anti-Social Forces Check, and API integration. In FY2026 (ending March 2026), the number of Credit Management Services members expanded to 8,445 (up 555 from the previous period), and segment profit margin improved to 17.3%. New services such as the RM Registry Investigation Report and RM China Enterprise Compliance Check Report are also being rolled out successively.

New projects have been accumulating, including data conversion of health checkup documents utilizing Anti-Social Forces Check BPO and AI-OCR, and Bankruptcy Distribution Procedure-Related Business Outsourcing, resulting in FY2026 (ending March 2026) revenue of ¥993 million (103.0% year on year). The merger between Rismon Muscle Data and Nippon Outsource (effective April 1, 2026) was carried out to improve management efficiency and strengthen organizational capabilities. The company aims to establish a "high speed × high quality × high value-added" model through AI-OCR sophistication and utilization of overseas centers.

The company is rebuilding its flat-rate services for individuals within companies (BtoBtoE), aiming to improve utilization rates and continued usage rates. In FY2026 (ending March 2026), revenue declined significantly to ¥186 million (83.2% year on year) and segment profit to ¥6 million (15.8% year on year) due to weak performance in flat-rate and customized services. The company is working on expanding new services and reviewing sales measures, but recovery is expected to take time.

The company aims for continuous and stable dividends targeting ROE of 7% and DOE of 3%. In FY2026 (ending March 2026), the dividend per share was ¥16.0 (ordinary dividend of ¥15.5 plus a commemorative dividend of ¥0.5 for the 25th anniversary of founding), and an increase to ¥16.5 is planned for FY2027 (ending March 2027). In November 2025, the company resolved to acquire treasury shares up to a total acquisition value of ¥150 million, promoting improved capital efficiency.

Last updated: July 19, 2026