CINC Corp.
4378・Growth Market・Information & Communication
Solutions Business
SaaS-based marketing support tool business centered on "Keywordmap"
| Period | Current | Previous | Change |
|---|---|---|---|
| Revenue (FY2026 (ending March 2025 – H1 cumulative, October fiscal year end)) | ¥352 million | ¥395 million (H1 cumulative, FY2025 ending October 2025) | ↓ |
| Segment profit (H1 cumulative, FY2026 ending October 2026) | ¥71 million | ¥86 million (H1 cumulative, FY2025 ending October 2025) | ↓ |
| Segment profit margin (H1 cumulative, FY2026 ending October 2026) | 20.2% | 21.1% (H1 cumulative, FY2025 ending October 2025) | ↓ |
| Revenue (full year, FY2025 ending October 2025) | ¥785 million | — | — |
| Segment profit (full year, FY2025 ending October 2025) | ¥154 million | — | — |
| Revenue (Q1 standalone, FY2026 ending October 2026) | ¥181 million | — | ↓ |
| Segment profit (Q1 standalone, FY2026 ending October 2026) | ¥43 million | — | ↓ |
Business Details
CINC develops and sells "Keywordmap," a cloud-based software that applies natural language processing, machine learning, and deep learning technologies to Japanese-language keyword big data to support companies' data-driven marketing activities. It adopts a monthly flat-rate subscription pricing model. It offers multiple functions including market analysis, competitive research, improvement point extraction, and search ranking measurement, and is also advancing the implementation of AI Search Optimization (GEO/LLMO) compatible features. It serves as the revenue base as the only profitable segment within the group as a whole.
Recent Overview
Expanded AI Search Optimization features, but revenue declined 13.2% year-on-year due to a decrease in customer count
For the H1 cumulative period of FY2026 (ending October 2026), Solutions Business revenue was ¥352 million (down 13.2% year-on-year), and segment profit was ¥71 million (down 16.8% year-on-year). Although evaluation and proposal opportunities for new features—such as AI-based article creation/improvement support, additional keyword selection functions, and visualization of brand mentions in generative AI search results—have increased, the search marketing market is in a transitional period toward AI Search Optimization, leading to more cautious investment decisions regarding conventional SEO measures. As a result, the company was unable to offset the revenue decline caused by the decrease in customer count.
Key Products
Growth Drivers
- Continued expansion of demand for Keywordmap driven by the accelerating digital shift in corporate marketing activities
- Growing need for AI Search Optimization (GEO/LLMO) compatibility amid the spread of generative AI (e.g., AI Overviews), and favorable customer reception of new features
- Improved profit margin through reduced server costs from discontinuing little-used functions and improving database processing
- Improving trend in churn rate suppression through strengthened customer success operations and utilization of external personnel
- Raising per-contract unit prices through upselling via Professional Services (BPO) and optional plans
Risks
- Risk that, amid the market transition period toward AI Search Optimization, investment decisions regarding conventional SEO measures become more cautious, continuing the revenue decline trend due to a decrease in customer count
- Risk that changes in search behavior driven by generative AI (e.g., the spread of AI Overviews) alter the demand structure for SEO tools
- Slowdown in new deal acquisition and rising churn rate due to shortages of sales and customer success personnel
- Emergence of similar SaaS products from competitors and intensifying price competition
- Risk of slower feature development due to difficulty securing talented engineers and development personnel
- Risk of downside to achieving the full-year forecast (revenue of ¥1,681 million, down 7.8% year-on-year), as H1 cumulative revenue for FY2026 (ending October 2026) continued its declining trend, down 13.2% year-on-year
Last updated: January 28, 2026