FISCO Ltd.
3807・Growth Market・Information & Communication
Business
FISCO Ltd. is a company listed on the Tokyo Stock Exchange Growth Market, founded in 1995. Its core business is the Information Services Business (net sales of ¥788 million), which centers on real-time distribution of financial and economic information and IR support/IR consulting services for listed companies, mainly through Sponsored Analyst Reports (FISCO Company Research Reports). The company also operates an Advertising Agency Business (¥51 million) and a Crypto Asset & Blockchain Business (¥3 million). Its main customers are the IR departments of domestic listed companies, as well as institutional and individual investors. Under its management philosophy of "neutral stance and fair thinking," the company aims to become the best company in the financial services industry.
Business Model
The main revenue source is the IR consulting service for listed companies (net sales of ¥544 million), a build-up model that acquires an average of about 10 new clients per month centered on continued orders for Sponsored Analyst Reports. Financial & Economic Information Real-time Distribution & Outsourcing Service (¥243 million) provides a complementary revenue stream for corporate clients. Through the reduction of outsourced processing costs via in-house production and the concentration of resources on high-margin services, the Information Services Business segment has achieved a segment profit margin of 36.1%.
Company Strengths
Since the second half of the previous fiscal year, the company has continuously acquired an average of approximately 10 new clients per month in the IR consulting services field, centered on Sponsored Analyst Reports (FISCO Company Research Reports). In the fiscal year under review, sales in the IR support field remained solid at ¥544 million (versus ¥539 million in the previous fiscal year), forming a stable revenue base together with continued orders from existing clients.
The company achieved a cost reduction of approximately ¥123 million compared to the previous fiscal year. Cost of sales was reduced from ¥427 million to ¥348 million, and selling, general and administrative expenses were reduced from ¥534 million to ¥490 million. While net sales declined slightly to ¥842 million (versus ¥867 million in the previous fiscal year), operating profit turned from a loss of ¥94 million to a profit of ¥4 million, and the gross profit margin improved from 50.7% to 58.6%.
Segment profit in the Information Services Business increased significantly from ¥206 million in the previous fiscal year to ¥284 million, reaching a segment profit margin of 36.1%. The improvement in profitability was driven by a shift in service composition toward the high-margin IR support field and a reduction in outsourced processing costs through in-house acquisition of financial and economic data.
ENVALITH's Perspective
Performance Trend
Revenue for Q1 of FY2026 (ending December 2026) was ¥194 million (+3.1% year-on-year), and the operating loss was ¥17 million (an improvement from a loss of ¥26 million in the same period of the prior year). A reduction in cost of sales (from ¥88 million to ¥77 million) improved the gross profit margin, and the improvement in the earnings structure is reflected in the numbers. Looking at the trend over the past five fiscal years, after bottoming out in FY2023 with revenue of ¥214 million and an operating loss of ¥859 million, the company achieved a turnaround to operating profit of ¥4 million in FY2025 following cost structure reforms. The full-year forecast for FY2026 calls for revenue of ¥836 million and operating profit of ¥20 million, continuing profitability. As for external factors, improvements in the employment and income environment and the recovery of inbound demand are supporting a gradual economic recovery, while yen depreciation, price increases, and geopolitical risks are heightening uncertainty about the outlook, leading to a partial adjustment phase in demand for financial information services for corporate clients.
Growth Strategy
Maximizing profitability in the Information Services Business through expansion of the IR support client base and business focus
Centered on Sponsored Analyst Reports (FISCO Company Research Reports), the company is capturing demand from listed companies seeking to enhance their IR activities. Since December 2025, the company has continued to acquire an average of approximately 10 new clients per month, and IR support segment sales in the first quarter of 2026 reached ¥120 million, up 13.2% year on year.
Cost structure reforms promoted since the second half of FY2024 (ending December 2024) have advanced fixed-cost optimization and reductions in cost of sales. Cost of sales in the first quarter of 2026 was reduced to ¥77 million (compared with ¥88 million in the same period of the previous year), and the gross profit margin improved to 60.1% (compared with 53.2% in the same period of the previous year). This has directly contributed to narrowing the operating loss.
At the annual general meeting of shareholders on March 27, 2026, the company amended its articles of incorporation to discontinue the Crypto Asset & Blockchain Business. The company has established a framework to concentrate management resources on the Information Services Business and Advertising Agency Business, prioritizing investment in the highly profitable IR support field.
The company continues to secure production projects such as YouTube video production, event direction, and logo development, while also promoting a new order acquisition approach leveraging its strengths in specific fields such as para-sports. Advertising Agency Business sales in the first quarter of 2026 increased to ¥20 million (+17.6% year on year).
Last updated: July 17, 2026