BENEFIT JAPAN Co.,LTD.
3934・Standard Market・Information & Communication
Internet Communication Services Business
Group's core business. Generates stable earnings centered on mobile Wi-Fi, SIM, and MVNE
| Period | Current | Previous | Change |
|---|---|---|---|
| Net sales | ¥11,110 million (FY2026, ending March 2026) | ¥9,884 million (FY2025, ended March 2025) | ↑ |
| Segment operating profit | ¥1,319 million (FY2026, ending March 2026) | ¥1,863 million (FY2025, ended March 2025) | ↓ |
| Segment assets | ¥4,577 million (end of FY2026, ending March 2026) | ¥3,363 million (end of FY2025, ended March 2025) | ↑ |
| Number of contracted lines | 293,200 lines (end of FY2026, ending March 2026) | 251,800 lines (end of FY2025, ended March 2025) | ↑ |
| Depreciation | ¥56 million (FY2026, ending March 2026) | ¥48 million (FY2025, ended March 2025) | ↑ |
Business Details
As an MVNO, the company operates the mobile Wi-Fi service "ONLYMobile", prepaid SIM, Wi-Fi rental, and MVNE (Wholesale Line) services. New customer acquisition is conducted through mobile phone shop partners, telemarketing, and communication sales channels, with revenue composed of two axes: initial revenue from installment device sales and recurring (stock) revenue from monthly communication fees. The number of contracted lines reached a record high of 293,200 lines at the end of FY2026 (ending March 2026). The company is actively making upfront investments in sales partners to expand future recurring revenue.
Recent Overview
Net sales up 12.4% and contracted lines hit a record high, but operating profit fell 29.2% due to upfront investment
In FY2026 (ending March 2026), the success of the sales partner strategy strengthened the mobile phone shop and telemarketing sales channels, increasing the number of mobile Wi-Fi acquisitions. The expansion of SIM card demand driven by the recovery in inbound demand and an increase in foreign technical intern trainees also contributed, pushing the number of contracted lines to a record high of 293,200 lines. On the other hand, agency commissions increased by ¥1,293 million year on year as upfront investment in sales partners aimed at expanding future recurring revenue, causing operating profit to decline significantly to ¥1,319 million (down 29.2% year on year).
Key Products
Growth Drivers
- Deepening of the sales partner strategy: increasing new acquisitions by strengthening mobile phone shop and telemarketing sales channels
- Continued expansion of prepaid SIM demand driven by the recovery in inbound demand and an increase in foreign technical intern trainees
- Accumulation of B2B revenue through the steady trend in new contracted lines for MVNE (Wholesale Line) services
- Strengthening of the medium- to long-term recurring revenue base through the accumulation of contracted lines
- Stabilization of the earnings base through the expansion of corporate services and value-added services (next-period policy)
Risks
- Risk that the increase in upfront investment in sales partners (agency commissions) will significantly pressure profit in the short term (up ¥1,293 million year on year in FY2026, ending March 2026)
- Risk of declining average unit prices and deteriorating profitability due to withdrawal from low-profitability sales channels and an increasing proportion of low-priced products such as prepaid SIM
- Risk of rising customer acquisition costs due to intensifying competition in the telecommunications market (price competition with major carriers and other MVNO operators)
- Expansion of credit risk associated with the increase in installment receivables (¥7,476 million at the end of FY2026, ending March 2026, up ¥2,493 million from the end of the prior period)
- Risk of fluctuation in prepaid SIM demand due to changes in inbound demand and the number of foreign workers
Last updated: June 23, 2026