BETREND CORPORATION
4020・Growth Market・Information & Communication
Business
BETREND CORPORATION targets B2C enterprises operating multi-store retail, food service, and other service businesses as its primary customers, offering the CRM software platform "betrend," which integrates customer management, information distribution, and data analytics functions, on a SaaS basis. Its core "Smart CRM Service" provides unified management of member attributes, behavioral history, and purchase history, along with multi-contact channels including apps, push notifications, LINE integration, and IVR. Founded in 2000, the company listed on the Tokyo Stock Exchange Mothers market (now the Growth Market) in 2020. As of the end of FY2025 (ending December 2025), the company had 186 Smart CRM contracted companies and managed 35,482 thousand members.
Business Model
The CRM Service, accounting for approximately 83% of net sales, is centered on recurring revenue from annual contracts (ARR) that combine a monthly flat fee with usage-based charges tied to member count, communication volume, and number of stores. In addition, the Customization Service (system integration, custom development, etc., accounting for approximately 16% of net sales) and Other Services (printing, payment introduction, etc.) supplement this with one-shot revenue. The company operates through two channels—direct sales and agency sales—and is also promoting sales collaboration with POS and e-commerce cart vendors through its partner program "betrend connect".
Company Strengths
Since its founding in 2000, the company has specialized in CRM for B2C enterprises operating multiple physical stores, building a customer base of 186 Smart CRM Service contracted companies and 35,482 thousand managed members (up 5.4% year on year) as of the end of December 2025. It also holds a track record of high security standards, including ISMS (ISO27001) and Privacy Mark certifications.
Of the CRM Service revenue of ¥966,439 thousand, Smart CRM Service ARR was ¥761,119 thousand, and total CRM Service ARR was ¥945,863 thousand. Under an annual contract structure combining fixed monthly fees and usage-based charges, the majority of revenue is recurring in nature, providing high revenue predictability.
In addition to multi-contact channels such as email, apps, push notifications, LINE integration, IVR, SMS, and DM distribution, the company provides external system connectivity functions—including POS integration, EC cart integration, prepaid, and card payment—through an integrated in-house structure covering planning, design, development, sales, and support.
ENVALITH's Perspective
Performance Trend
Revenue continued moderate growth from ¥1,052 million in FY2021 to ¥1,159 million in FY2025, but full-scale growth investment led to the company's first-ever operating loss (-¥82 million) in FY2025. In Q1 of FY2026 (ending December 2026), revenue declined to ¥264 million (down 7.1% year on year), and with cost of sales up 23.8% and SG&A expenses up 9.6%, the operating loss expanded sharply to ¥62 million (versus operating profit of ¥4 million in the same period a year earlier). While the external environment shows the cloud-based CRM market on an expanding trend, a structural decline in demand for email marketing is a factor weighing down revenue. The full-year forecast remains unchanged at revenue of ¥1,169 million and an operating loss of ¥222 million.
Growth Strategy
Aiming to expand the market and diversify revenue through betrend Lite, partner collaboration, and new GX business initiatives
The company is strengthening proposals for official apps targeting community-based multi-store chain operators, aiming to expand the number of Smart CRM contracted companies and accumulate ARR. As of the end of the first quarter of FY2026 (ending December 2026), the number of contracted companies stood at 185 (an increase of 4 companies year-on-year), indicating a moderate pace of growth.
By launching a simplified, no-customization service, the company aims to expand into the small and medium-sized enterprise segment that it has been unable to reach until now. This is expected to lower adoption barriers and generate new ARR.
The company is strengthening sales collaboration with POS vendors, e-commerce cart vendors, and others to promote new customer acquisition through indirect sales channels. This complements the company's own sales resources and aims for efficient market penetration.
The company is exploring diversification of revenue sources beyond CRM by including GX (Green Transformation)-related businesses within Other Services. In the first quarter of FY2026 (ending December 2026), sales of Other Services were ¥1,311 thousand (up 17.4% year-on-year), a small scale but showing revenue growth.
The company is implementing infrastructure renewal, including the replacement of DB server clusters, expansion of personnel structure, and marketing investment in line with the Medium-Term Management Plan. Although temporary costs were incurred in the first quarter of FY2026 (ending December 2026), this is positioned as an upfront investment in anticipation of a recovery in profitability after the investment phase is completed.
Last updated: July 17, 2026