eBASE Co.,Ltd.

Business Details

Based on the CMS development platform "Middleware eBASE," the company operates product information management systems for the food, daily goods, and housing industries (FOODS／GOODS／HOUSING eBASE), the product data pool service "Shozai ebisu," retail-oriented product master management "MDM eBASE," product planning management "PDM eBASE," database publishing "DBP eBASE," and the consumer-facing smartphone app "e-Shokuju Series." These are organically linked across three phases—0th/1st/2nd eBASE—to support customer companies' DX and OMO initiatives.

Recent Overview

Increased burden from a large-scale customization project in the daily goods industry spilled over into the entire eBASE Business, resulting in a significant decline in both revenue and profit

In FY2026 (ending March 2026), eBASE Business revenue was ¥2,591 million (down ¥270 million year on year), and ordinary income was ¥1,063 million (down ¥343 million year on year). Human resources were significantly strained by a large-scale "MDM eBASE" customization development project for a customer in the daily goods industry, an industry in which the company had no prior experience, leading to a decline in deep-selling activity across the entire eBASE Business, including in the food industry. Package software revenue, which carries high profit margins, fell sharply by ¥212 million year on year. On the other hand, license & support and cloud services saw revenue growth. As a subsequent event, on April 28, 2026, the company entered into a share transfer agreement to acquire 74.8% of the shares of KSP-SP Corporation (a POS analytics company) (acquisition cost of ¥480 million), aiming to develop a next-generation data marketing business that integrates detailed product data with POS data.

Key Products

Growth Drivers

• Earnings improvement effect from the price revision of package software and other products implemented in April 2026 (the first price review since the company's founding)
• Creation of a next-generation data marketing business integrating "Shozai ebisu" detailed product data with POS data through the M&A of KSP-SP Corporation
• Transition to the core system integration phase and continued order intake for "MDM eBASE" for a major convenience store chain
• Creation of maintenance and additional development opportunities from the full-scale launch of "MDM eBASE" at a major consumer electronics retailer (scheduled to begin in April 2026)
• Expansion of the large-scale "PDM eBASE" project for the housing industry and "HOUSING eBASE Cloud" to new customers (including Anabuki Construction)
• Progress in concrete adoption at multiple retail companies through a shift in the adoption strategy that leads customers from "DBP eBASE" adoption to "e-Shokuju Navi"
• Appeal of efficiency gains in product information registration and management work through AI-assisted features implemented in "Shozai ebisu" and "FOODS／GOODS／HOUSING eBASE"
• Capture of new demand through the release of "eB-for Torisekiho," a new product addressing the Act on Promotion of Fair Trade for Specified SME Subcontracting that took effect in January 2026

Risks

• Depletion of human resources and a decline in deep-selling activity due to a large-scale customization development project in the daily goods industry, an industry in which the company had no prior experience (a risk that has materialized and spread across the entire eBASE Business)
• Declining trend in high-margin package software revenue (down ¥212 million year on year to ¥333 million in FY2026, ending March 2026)
• Adoption of "2nd eBASE (e-Shokuju Series)" has been significantly delayed relative to initial expectations, and retail companies continue to take a cautious approach to DX investment decisions
• Occurrence of M&A acquisition-related expenses (advisory fees and other costs estimated at approximately ¥46 million) and integration costs associated with the subsidiarization of KSP-SP Corporation
• High dependence on large-scale projects, with significant impact on business performance from delayed acceptance inspections or project interruptions by specific customers
• Rising costs due to increases in personnel expenses and prices (selling, general and administrative expenses increased by ¥99 million year on year to ¥1,286 million)