Plus Alpha Consulting Co., Ltd.
4071・Prime Market・Information & Communication
Marketing Solutions
High-margin, stable business segment comprising Mieruka Engine and CustomerRings
| Period | Current | Previous | Change |
|---|---|---|---|
| Segment revenue (H1 FY2026, ending March 2026) | ¥1,844 million | ¥1,950 million (H1 FY2025, ending March 2025) | ↓ |
| Segment profit (H1 FY2026, ending March 2026) | ¥724 million | ¥881 million (H1 FY2025, ending March 2025) | ↓ |
| Segment revenue (full year FY2025, ended March 2025) | ¥3,841 million | — | — |
| Segment profit (full year FY2025, ended March 2025) | ¥1,710 million | — | — |
| Segment revenue YoY change (H1 FY2026, ending March 2026) | -5.5% | — | ↓ |
| Segment profit YoY change (H1 FY2026, ending March 2026) | -17.8% | — | ↓ |
Business Details
This segment consists of two services: Mieruka Engine and CustomerRings. Mieruka Engine is a VOC (voice of customer) analysis tool for call centers and marketing departments, while CustomerRings is an integrated marketing platform for e-commerce and mail-order businesses. Both operate on a SaaS-based subscription model, with recurring revenue accounting for the majority of sales, positioning this as a stable, high-margin business within the group. However, the customer count has been on a declining trend, partially offset by rising average revenue per customer.
Recent Overview
H1 FY2026 (ending March 2026) saw revenue decline 5.5% and profit decline 17.8%, continuing the trend of declining revenue and profit
For H1 FY2026 (ending March 2026) (October 2025 to March 2026), segment revenue was ¥1,844 million (down 5.5% year on year) and segment profit was ¥724 million (down 17.8% year on year). While average revenue per customer has trended upward due to plan upgrades and increased usage-based charges among existing customers, the decline in customer count—driven mainly by persistently high churn among light users—has weighed on both revenue and profit. The company continues to pursue feature enhancements leveraging generative AI, but this has not yet reversed the declining customer count trend. Revenue from services transferred over a certain period (SaaS-type) was ¥1,786 million, down from ¥1,878 million in the same period of the prior year.
Key Products
Growth Drivers
- Upward trend in average contract value driven by plan upgrades and increased usage-based charges among existing customers
- Promotion of differentiation through development of new features and services leveraging generative AI technology
- Improved retention rate through consulting services that promote broader utilization across various departments within client organizations
- Continued expansion of digital marketing demand driven by the growth of the e-commerce market
- Competitive advantage from high-precision text analysis enabled by proprietary text mining technology
Risks
- Continued decline in customer count due to persistently high churn rates, mainly among light users
- Intensifying competitive environment due to increasing new entrants into the digital marketing field
- Risk that the structural trend of customer count decline outpacing per-customer price increases becomes entrenched, as evidenced by the 5.5% revenue decline and 17.8% profit decline in H1 FY2026 (ending March 2026)
- Demand volatility risk stemming from capital expenditure restraint among manufacturing industry clients, the segment's core customer base
- Risk of declining profit contribution from Marketing Solutions as the HR Solutions segment increasingly drives overall group growth
Last updated: December 25, 2025