ENVALITH
ベイシス株式会社 logo

Basis Corporation

4068・Growth Market・Information & Communication

Official website
ベイシス株式会社 logo
Basis Corporation4068

Business

BASIS Inc. operates in a single segment, the Infratech Business (Single Segment), which combines telecom infrastructure construction know-how with cutting-edge technology. Its main services rest on three pillars: Mobile Engineering Service, which handles the design, construction, and operation/maintenance of mobile phone base stations; IoT Engineering Service, which handles the installation and maintenance of IoT devices such as smart meters, network cameras, and solar power generation equipment; and engineering in the IT infrastructure domain. Major customers include SoftBank (24.5% of sales), SB Engineering (13.5%), and Tokyo Electric Power Grid (12.0%). The company operates a nationwide network of six locations—Sendai, Tokyo, Nagoya, Osaka, Hiroshima, and Fukuoka—together with its partner company network, "BASIS Partners" (522 companies), giving it the capability to handle large-scale nationwide projects. Founded in 2000, the company listed on the Tokyo Stock Exchange Growth Market in 2021.

Business Model

Revenue has a two-layer structure: a flow-type business based on contracted work such as equipment installation and base station construction, and a stock-type business based on continuing contracts such as client-site staffing, operational monitoring, and maintenance. The company's in-house-developed project management system "BLAS" is combined with RPA and AI to streamline on-site work, achieving cost reductions and quality improvements. BLAS has also begun to be sold externally in SaaS and BPaaS formats, and is being cultivated as a new revenue source. By leveraging its network of partner companies (522 companies), the company handles large-scale projects while keeping fixed costs in check.

Company Strengths

The company developed in-house a project management system "BLAS" specialized for telecommunications infrastructure construction, combining it with AI image recognition, RPA, and other technologies to automate and streamline on-site work. External sales as a SaaS offering began in September 2023, and the number of client companies has steadily increased. In July 2024, the company obtained a patent related to image recognition AI, providing support for its technological differentiation.

In addition to its six locations in Sendai, Tokyo, Nagoya, Osaka, Hiroshima, and Fukuoka, the company leverages its partner company network "Basis Partners" (522 companies as of the end of June 2025). Not limited to specific telecommunications carriers, the company supports multiple communication methods (4G, 5G, Wi-Fi, WiMAX, etc.), and has built a system capable of receiving and executing large-scale nationwide projects.

In the fiscal year ended June 2025, as a result of expanding the monitoring and maintenance stock business of the IoT Engineering Service and improving sales unit prices, operating profit significantly improved to ¥178 million (up 119.5% year on year), and net income for the period rose to ¥97 million (up 458.9% year on year). EBITDA also increased from ¥138 million in the previous period to ¥253 million.

ENVALITH's Perspective

For the nine-month cumulative period of Q3 FY2026 (ending June 2026), the company recorded net sales of ¥6,304 million and operating profit of ¥210 million. Against the full-year forecast (net sales of ¥8,684 million and operating profit of ¥234 million), progress rates stood at 72.6% and 89.7% respectively, with operating profit progress at a high level. If the company secures the remaining ¥24 million in operating profit in Q4 (one quarter), the full-year target will be achieved, and the likelihood of achievement is judged to be high.

Mobile Engineering Service continued to contract, posting ¥2,490 million (down 5.5% year on year), against a backdrop of restrained capital expenditure by telecom carriers. Meanwhile, IoT Engineering Service (up 13.2% year on year) and Other (up 15.2% year on year) offset this decline, resulting in overall revenue growth of 5.4%. As an external factor, there is a risk that the prolonged restraint in carrier capital expenditure could continue, and the sustainability of growth in both the IoT and IT services will be a key evaluation point over the medium term.

The operating profit margin for the nine-month cumulative period of Q3 stood at 3.3% (versus 2.9% in the same period of the prior year), showing an improving trend, but is expected to remain at only 2.7% on a full-year forecast basis. Gross profit margin showed a slight improvement to 23.7% (versus 23.3% in the same period of the prior year). Selling, general and administrative expenses also increased to ¥1,283 million (up 5.4% year on year), making it a key factor for sustained share price evaluation whether structural profitability improvement can be realized through BLAS's external sales monetization and expansion of the stock business. The equity ratio of 55.4% indicates that financial soundness is being maintained.

Growth Strategy

Fostering the IoT stock-type business as a second pillar of growth, while advancing diversification through external sales of BLAS and new IT domains

While maintaining smart meter installation and replacement as the core business, the scope has been expanded to include network cameras, sensors, tenant meters, and solar power generation equipment-related work. Cumulative third-quarter revenue reached ¥2,720 million, up 13.2% year on year, driving group growth.

BLAS, which has built a track record through the company's own engineering operations, is being offered to external companies in SaaS and BPaaS formats to cultivate a new revenue source. Currently, the main effect is efficiency improvement through internal use, and full-scale realization of external sales revenue remains a future challenge.

Inquiries related to IT infrastructure, such as network line switchover projects for convenience stores and financial institution branches, have been increasing. Cumulative third-quarter revenue for Other (including IT Engineering) was ¥1,092 million (up 15.2% year on year), showing steady progress.

Due to telecom carriers' restrained capital expenditure, cumulative third-quarter revenue continued to shrink, reaching ¥2,490 million (down 5.5% year on year). While growth in both the IoT and IT services is helping to offset this decline, the structure of waiting for a recovery in the mobile business continues.

Last updated: July 17, 2026