VALUE GOLF Inc.
3931・Growth Market・Information & Communication
Golf Business
Core business accounting for approximately 70% of Group sales. Combines ASP, EC, lessons and other services
| Period | Current | Previous | Change |
|---|---|---|---|
| Segment sales (Q1 cumulative, FY2027 ending March 2027) | ¥829 million | ¥900 million (Q1 cumulative, FY2026 ending March 2026) | ↓ |
| Segment operating profit (Q1 cumulative, FY2027 ending March 2027) | ¥131 million | ¥118 million (Q1 cumulative, FY2026 ending March 2026) | ↑ |
| 1-Nin Yoyaku Land registered members | 1.267 million (as of April 30, 2026) | 1.245 million (end of FY2026, ending March 2026) | ↑ |
| Segment sales year-on-year change | -7.9% | - | ↓ |
| Segment operating profit year-on-year change | +10.7% | - | ↑ |
Business Details
Centered on the ASP service "1-Nin Yoyaku Land," this segment comprises four pillars: the golf course DX service "Ripizo-kun / Ripizo-kun DX," the golf equipment EC service, and lesson services (Value Golf Osaki and G-pars Golf Club Urayasu). It provides value to both golf courses (B2B) and golfers (B2C), securing stable revenue through a fixed monthly fee plus usage-based charging model. Segment sales for the first quarter of FY2027 (ending March 2027) (February to April 2026) were ¥829 million.
Recent Overview
Sales declined 7.9% year on year, but cost reduction effects improved profitability, with operating profit up 10.7%
In the first quarter of FY2027 (ending March 2027) (February to April 2026), the Golf Business posted sales of ¥829 million (down 7.9% year on year) and operating profit of ¥131 million (up 10.7% year on year). While golf course usage has trended slightly downward amid elevated play fees due to poor weather and rising fuel costs, as well as an aging golfer population, the EC service achieved profit growth through cost and SG&A expense reductions driven by AI-based appropriate inventory control. The number of 1-Nin Yoyaku Land members continued to expand steadily, reaching 1.267 million (up 7.6% year on year).
Key Products
Growth Drivers
- Continued expansion of "1-Nin Yoyaku Land" membership (up 7.6% year on year to 1.267 million), increasing usage-based revenue
- Accelerated acquisition of new golf course clients for "Ripizo-kun DX," expanding the ASP revenue base
- Steady growth in lesson service membership (Osaki and Urayasu), building up stable monthly recurring revenue
- Improved profitability in the EC service through a shift in product mix toward proprietary and Japan-model products and AI utilization
- Resilient demand driven by diversification of golf courses' customer base, including attracting golfers from neighboring East Asian countries such as Korea and developing the women's and junior segments
Risks
- Continued yen depreciation keeping import costs for overseas golf equipment elevated, pressuring EC service profitability
- Elevated play fees due to poor weather and rising fuel costs, and a declining trend in golf course users amid an aging golfer population
- Risk of temporary fluctuations in sales and profit during the EC service's product mix transition period
- Intensifying competition for customer acquisition amid competitors as the company works toward its mid- to long-term targets (1,800 contracted golf courses, 2 million members)
- Impact on operating margin from increased upfront costs related to AI and DX investment
Last updated: April 23, 2026