infoNet inc.
4444・Growth Market・Information & Communication
Business
Infonet Corporation was founded in 2002 in Fukui Prefecture and is a web integration company that provides end-to-end services from website construction to operation and maintenance, centered on its proprietary CMS "infoCMS" and "LENSAhub". Adding the AI search "Cogmo Search" and RAG-type generative AI "Cogmo Enterprise Generative AI" offered by its subsidiary Aiact, the company provides comprehensive support for corporate marketing DX and operational efficiency DX. Its main customers are corporate clients, primarily mid-sized to large enterprises, and it addresses a wide range of needs from corporate website construction and operation/maintenance to AI solution implementation. Listed on the Tokyo Stock Exchange Growth Market.
Business Model
At the time of CMS implementation, the company records contracted development revenue for website construction (¥927,473 thousand in FY2026 (ending March 2026)), and after delivery, it accumulates stock-type revenue through the continuous receipt of monthly usage fees for CMS program and server operation and maintenance (¥778,406 thousand in the same period). In addition, AI services (¥354,592 thousand in the same period) are driving high growth. Through direct contracts via its own sales department, the company grasps customer challenges and completes development, design, and support in-house, thereby enhancing added value.
Company Strengths
The company employs staff across all job functions—sales, programmers, designers, web directors, and support—in-house, enabling the entire process from website construction to ongoing operation and maintenance to be completed without outsourcing. Unlike the industry-standard division-of-labor model, this allows customers to procure all services through a single point of contact, reducing cost, time, and coordination burden, which serves as a key differentiator against competitors.
Built on its proprietary CMS "infoCMS" and next-generation CMS "LENSAhub," the company has a revenue structure in which monthly usage fee services continue post-delivery with a contract retention rate of nearly 100%. In FY2026 (ending March 2026), revenue from monthly usage fee services reached ¥778,406 thousand, forming a stable revenue base. As a closed-source CMS, it maintains a high level of security, meeting the requirements of financial institutions, government agencies, and listed companies.
Cogmo Search (AI search leveraging IBM watsonx) and Cogmo Enterprise Generative AI (RAG-based), offered by subsidiary iact, are capturing corporate demand for digital transformation. In FY2026 (ending March 2026), AI services revenue reached ¥354,592 thousand (up 42.4% year on year). Orders received also expanded rapidly, up 61.7% year on year, with order backlog also increasing significantly.
ENVALITH's Perspective
Performance Trend
Revenue expanded approximately 20% over five fiscal years, from ¥1,739 million in FY2022 to ¥2,085 million in FY2026, maintaining a growth trend, but the growth rate decelerated from 13.7% in FY2025 to 3.7% in FY2026. On the profitability side, the recording of a ¥59 million impairment loss related to goodwill and customer-related assets at subsidiary Brand Design, combined with increased SG&A expenses due to the head office relocation, caused operating profit to fall sharply from ¥168 million to ¥55 million, resulting in a net loss of ¥26 million for the period. The cost of sales ratio also rose from 56.1% in the previous period to 60.4%, with rising contracted development costs squeezing gross profit. In terms of the external environment, IT investment demand remains firm, and AI services are showing strong growth of over 42%, but whether the company can achieve its forecast performance recovery for FY2027 (ending March 2027) (operating profit of ¥137 million) will be the immediate focus.
Growth Strategy
Three pillars of growth: next-generation CMS and AI service recurring-revenue transformation, and accelerated M&A under a holding company structure
Promoting the expansion of SaaS services utilizing the in-house developed next-generation CMS "LENSAhub" (LENSAhub). Strengthening the stable revenue base of monthly subscription services and accelerating the shift from a contracted-development-dependent model to a recurring-revenue business model. In FY2026 (ending March 2026), monthly subscription services amounted to ¥778 million, accounting for 37% of the sales composition.
AI search and AI chatbot services provided by subsidiary Iact achieved sales of ¥355 million in FY2026 (ending March 2026), an increase of approximately 42% year on year. Leveraging the rapid expansion of practical use of generative AI, the Company will strengthen the continuous provision of value through the integration of CMS and AI, and aim to expand recurring-revenue AI service revenue.
Plans are underway to transition to a holding company structure (InfoNet Group Co., Ltd.) through a company split (absorption-type split), with the effective date set for October 1, 2026. This will strengthen the function of promoting group management strategy and establish an autonomous decision-making structure for each business, aiming to accelerate growth through M&A and alliances and optimize the business portfolio.
Last updated: July 19, 2026