ENVALITH
株式会社Kaizen Platform logo

Kaizen Platform, Inc.

4170・Growth Market・Information & Communication

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株式会社Kaizen Platform logo
Kaizen Platform, Inc.4170

Business

Kaizen Platform, Inc. operates under the mission "KAIZEN the World – Kaizen-ing the World through Smooth Working Styles," running its business across two segments: the Professional Segment (Consulting / Production / BPO / SES) and the Cloud Segment (Kaizen Engine / Kaizen AI Cloud). Through a hybrid model combining a network of over 15,000 DX specialist personnel with a proprietary cloud platform that can be deployed simply by installing a tag, the company provides end-to-end support for customer experience (UX) innovation and business process DX, primarily for large enterprises. In June 2025, the company launched the generative AI agent-based solutions "Kaizen Conversion Agent" and "Kaizen Personalize Agent," strengthening its function as an AI integrator. Its main customers are the marketing and DX departments of major domestic corporations, and net sales for FY2025 (ending December 2025) were ¥4,355 million.

Business Model

In the Professional Segment, the company provides Consulting / Creative Production / BPO / SES on a project basis, supporting clients' DX initiatives through an external talent utilization model that keeps fixed costs low. In the Cloud Segment, Kaizen Engine and Kaizen AI Cloud are offered as subscription SaaS, achieving a high profit margin (segment profit margin of 27.1% in FY2025 (ending December 2025)). The company pursues a strategy of raising customer unit price (ARPU) through cross-selling between the two segments, and ARPU in FY2025 (ending December 2025) reached ¥7,706 thousand, up 12.4% year on year. It has also introduced performance-based (success fee) plans to lower barriers to acquiring new customers.

Company Strengths

Owns a Growth Hacker network of over 15,000 members with diverse skills spanning data analysis, marketing, UI/UX design, system development, and more. The ability to form optimal teams on a project-by-project basis and provide consistent support from strategy formulation through execution serves as a key differentiator from competitors.

Owns a proprietary Cloud environment that enables immediate implementation of UX improvement features such as A/B testing, personalization, smart search, and multilingual support through simple tag installation, without requiring large-scale modifications to existing legacy systems. The Cloud Segment achieved sales of ¥446 million in FY2025 (ending December 2025), up 33.2% year on year, with segment profit of ¥121 million.

Company-wide ARPU has continuously risen from ¥5,237 thousand in 2019 to ¥7,706 thousand in 2025 (up 12.4% year on year). The strategy of focusing on major clients and promoting cross-selling to raise transaction unit prices is proving effective, driving qualitative improvement in revenue even as the number of transaction accounts declines.

ENVALITH's Perspective

The company achieved its first operating profit turnaround in FY2025 (ending December 2025) (operating profit of ¥29 million), but in 1Q FY2026 (ending December 2026), net sales fell to ¥1,062 million (down 3.3% year on year) and the company recorded an operating loss of ¥53 million, falling back into the red. The full-year earnings forecast (net sales of ¥4,600 million, operating profit of ¥40 million) remains unchanged, but as of 1Q the progress rate stood at 23.1% for net sales, with operating profit/loss significantly behind plan, making a recovery over the remaining three quarters essential. A recovery in production/marketing-related revenue within the Professional Segment will be key to achieving full-year profitability.

The Cloud Segment maintained high growth in 1Q FY2026 (ending December 2026), with net sales of ¥131 million (up 20.9% year on year), and a significant increase in per-customer revenue was also confirmed. Meanwhile, in the Professional Segment, although the number of transaction accounts remained solid, per-customer revenue declined due to weak production/marketing-related revenue, resulting in net sales of ¥932 million (down 5.9% year on year) and a segment loss of ¥80 million (a sharp deterioration from a loss of ¥19 million in the same period of the previous year), with profitability deteriorating rapidly. Attention should be paid to the widening performance gap between segments.

The equity ratio as of the end of 1Q FY2026 (ending December 2026) remained at a high level of 70.6%, and there is no note regarding going concern assumptions. However, cash and deposits decreased by ¥148 million from the end of the previous fiscal year to ¥2,819 million, and the accumulated deficit in retained earnings expanded to ¥2,738 million. As an external risk factor, there is also the possibility that U.S. trade policy and volatility in financial and capital markets could affect domestic DX investment sentiment. The sustainability of profitability and the recovery of cash-generating capacity will be the focus of medium-term investment decisions.

Growth Strategy

Raise per-client revenue from major clients along three axes: deepening cross-sell, expanding generative AI solutions, and strengthening upstream consulting capabilities

Expanding AI agent-type solutions centered on "Kaizen Conversion Agent" and "Kaizen Personalize Agent" that support customer acquisition and LTV improvement while avoiding bottlenecks in existing IT infrastructure. The company aims to differentiate itself as an AI integrator under the "Magical UX" concept.

Cross-selling low-friction, tag-installation-based Cloud services to existing Professional clients to continuously raise per-client revenue. In 1Q of FY2026 (ending December 2026), per-client revenue in the Cloud Segment increased significantly, with sales maintaining high growth of up 20.9% year on year, indicating steady progress on this initiative.

Strengthening upstream consulting functions from the strategy design phase through the AI/DX consulting subsidiary established in January 2026. The company aims to build a comprehensive DX support framework for major clients, targeting the recovery of per-client revenue in the Professional Segment and the acquisition of new large-scale projects.

Last updated: July 17, 2026