PIA CORPORATION

Business Details

Centered on ticket sales for music, sports, theater, film, etc. (Ticket PIA), the company develops event planning, production, and operations, hall/arena operations (PIA ARENA MM), media & publishing, membership services (PIA Card and approximately 22 million PIA members), sports lottery sales, and other businesses. It has a purchase and issuance network of approximately 38,000 locations nationwide, giving it one of the largest handling scales in Japan, and operates as a single segment that substantially matches consolidated results. In FY2026 (ending March 2026), the company achieved a record-high transaction volume of over ¥300 billion.

Recent Overview

Renewed record-high profits across all profit line items and resumed dividend payments (¥35 per share) for the first time in six periods

In FY2026 (ending March 2026), net sales reached ¥55,330 million (up 22.0% year on year), operating income was ¥4,311 million (up 63.6%), ordinary income was ¥4,345 million (up 82.7%), and profit attributable to owners of parent was ¥3,317 million (up 108.4%), setting record highs across all profit line items. Contributing factors included expanded contracting for global events such as the Osaka-Kansai Expo and the World Athletics Championships Tokyo 2025, strong ticket sales for large-scale performances by artists visiting Japan, music festivals, and professional sports, and an improved cost structure resulting from the Ticket PIA service fee revision. The company eliminated its accumulated deficit and resumed dividend payments for the first time in six periods (¥35 per share at fiscal year-end). Under the new Medium-Term Management Plan (FY2026-FY2028), the period is positioned as one of active investment toward building the "Lifeline of Excitement Business," and the company forecasts a decrease in both sales and profit for FY2027 (ending March 2027) (net sales of ¥48,000 million, operating income of ¥2,500 million).

Key Products

Growth Drivers

• Continued cost structure improvement effects from the Ticket PIA service fee revision (October 2024, the first in 16 years)
• Further expansion investment in the content creation (event promotion) business and the venue network business
• Promoting profitability for new service businesses such as the hospitality business, DMS business, and global business
• Evolution of business and service development through operational efficiency and AI utilization enabled by migration to a next-generation platform
• Realization of the long-term vision "Lifeline of Excitement Business" ahead of the company's 60th anniversary in 2032 (FY2032 targets: operating income exceeding ¥6.0 billion, net assets exceeding ¥25.0 billion, equity ratio exceeding 20%)
• Continued market expansion for large-scale performances by artists visiting Japan and popular groups, music festivals, and professional sports

Risks

• A decrease in both sales and profit is forecast for FY2027 (ending March 2027) (net sales of ¥48,000 million, operating income of ¥2,500 million) due to the falloff of temporary revenue gains from global events (Osaka-Kansai Expo and World Athletics Championships Tokyo 2025)
• Significant increase in next-generation system development and security enhancement costs (construction in progress for software increased from ¥1,311 million to ¥3,245 million)
• Cost burden associated with the full relocation of head office functions planned for FY2028 (the first in 17 years)
• Risk of profit pressure during the period of active investment under the new Medium-Term Management Plan (FY2026-FY2028)
• Risk of slowing recovery in personal consumption due to prolonged elevated prices
• Macro risks such as overseas economic uncertainty, monetary policy, and foreign exchange trends
• Vulnerable financial base, with an equity ratio of 9.2% still indicating high financial leverage, and net assets of only ¥10,753 million against total assets of ¥117,249 million