SEPTENI HOLDINGS CO., LTD.
4293・Standard Market・Services
Business
Septeni Holdings Co., Ltd. was founded in 1990 and became a consolidated subsidiary of Dentsu Group Inc. in 2022. It is a holding company specializing in Digital Marketing, listed on the TSE Standard Market. With 35 consolidated subsidiaries and 6 equity-method affiliates, the company operates three businesses: the Marketing & Communication Business, centered on the sale and management of digital advertising; the Direct Business, which integrates offline and digital channels; and the Data Solutions Business, which utilizes data and AI. Its main customers are domestic companies in general, with Dentsu Inc. being its largest customer, accounting for 19.1% (¥28,395 million) of net sales for the current period.
Business Model
The core Marketing & Communication Business (revenue ¥21,550 million) supports corporate DX through the sale and operation of digital advertising. The Direct Business (revenue ¥6,439 million) provides end-to-end services from business strategy formulation through CRM. The Data Solutions Business (revenue ¥3,069 million) offers data and AI utilization solutions. Collaborative projects through the capital and business alliance with the Dentsu Group complement the revenue base.
Company Strengths
The company became a consolidated subsidiary of the Dentsu Group in January 2022, and sales from Dentsu expanded from ¥19,747 million (13.5% of composition) in the previous fiscal year to ¥28,395 million (19.1%) in the current fiscal year. Positioned as a core partner in the Dentsu Group's Digital Marketing domain, the company is making progress in preferentially capturing deal flow.
The Direct Business provides an end-to-end offering from business strategy formulation to Direct Response Promotion and CRM. In the current fiscal year, revenue increased 24.4% year on year to ¥6,439 million, driven mainly by offline advertising projects, and Non-GAAP operating profit rose 30.3% year on year to ¥1,374 million (profit margin of 21.3%), achieving high profitability.
Operating profit for FY2025 (ending December 2025) was ¥4,239 million (up 35.4% year on year), and Non-GAAP operating profit was ¥4,414 million (up 38.1% year on year). Non-GAAP operating profit for the Marketing & Communication Business was ¥5,497 million (up 14.1% year on year), and profitability improvement measures proved effective, marking a clear recovery from the profit decline phase that had continued since FY2023 (ending December 2023).
ENVALITH's Perspective
Performance Trend
Revenue over the past 5 fiscal periods peaked at ¥34,267 million in FY2023, declined to ¥28,284 million in FY2024, then turned to a recovery trend at ¥30,309 million in FY2025. In Q1 of the fiscal year ending December 2026, revenue reached ¥9,155 million (up 11.6% year on year), Non-GAAP operating profit reached ¥2,377 million (up 51.3% year on year), and quarterly profit attributable to owners of the parent reached ¥2,654 million (up 74.1% year on year), achieving substantial earnings growth. All three reporting segments posted increases in both revenue and profit, with the Direct Business segment's Non-GAAP operating profit showing particularly strong growth of 72.1% year on year. The main drivers were group-wide productivity improvements and expansion of large client accounts. As an external factor, the expansion of the domestic digital advertising market has served as a tailwind. Full-year guidance has been revised to revenue of ¥33,300 million (up 9.9% year on year), Non-GAAP operating profit of ¥5,400 million (up 22.3% year on year), and profit attributable to owners of the parent of ¥5,250 million (up 50.4% year on year).
Growth Strategy
Aiming for Non-GAAP operating profit of ¥6.4 billion in FY2028 (ending December 2028) through deepening synergies, AI strategy, and a high shareholder return policy
Continuing to expand existing projects with large clients and acquire new projects, centered on the sales and operation of digital advertising. In Q1 FY2026 (ending December 2026), revenue reached ¥6,945 million (up 13.7% year on year) and Non-GAAP operating profit reached ¥2,603 million (up 27.3% year on year), confirming growth as the core segment.
Continuing to optimize headcount at overseas locations and improve operational efficiency, building an operating-leverage-driven earnings structure that restrains cost increases relative to revenue growth. In Q1 FY2026 (ending December 2026), the increase in selling, general and administrative expenses was held to 0.3% while operating profit increased 65.6%, demonstrating the effect of these initiatives in the numbers.
Leveraging the knowledge and know-how accumulated in the digital marketing field to expand data collection, integration and utilization, as well as the development and provision of AI utilization solutions. In Q1 FY2026 (ending December 2026), Non-GAAP operating profit in the Data Solutions Business achieved high growth of 61.6% year on year, driven by the expansion of development and training projects.
Continuing to streamline non-core businesses, including the transfer of Vivivit Inc. effective February 27, 2026. A gain of ¥214 million on the sale of a subsidiary was recorded in other income for the quarter and excluded as an adjustment item for Non-GAAP operating profit. The policy is to concentrate management resources on the three core segments through business restructuring.
The annual dividend forecast for FY2026 (ending December 2026) is maintained at ¥18.00 (¥9.00 at the end of Q2 and ¥9.00 at year-end). Against the full-year EPS forecast of ¥25.31, the payout ratio stands at a high 71.1%. There has been no revision to the dividend forecast accompanying the earnings forecast revision, and the policy is to continue the high shareholder return policy premised on profit growth.
Last updated: July 17, 2026