ENVALITH
ユナイトアンドグロウ株式会社 logo

Unite and Grow Inc.

4486・Growth Market・Information & Communication

Official website
ユナイトアンドグロウ株式会社 logo
Unite and Grow Inc.4486

Business

Unite and Grow was founded in 2005 and is an independent IT services company listed on the Tokyo Stock Exchange Growth Market. Based on its proprietary technology "Shared Engineering," the company offers "Shared IS Staff," a membership-based service that supports the corporate IT departments of small and medium-sized enterprises with 50 to 1,000 employees. The service area is limited to Tokyo's 23 wards and Yokohama City's Naka and Nishi wards, and the company acquires customers across industries. In addition to its core Information Systems General (Shared IS Staff) service, the company has successively rolled out specialized services such as In-house Development (Shared In-house Development Staff), IT Infrastructure (Shared IT Infrastructure Staff), and Accounting IT (Shared Accounting IT Staff), expanding its business domain. As of the end of FY2025 (ending December 2025), the company had 814 member companies, 433 companies receiving substantive support, and 274 Shared IT Staff.

Business Model

Customers purchase points in advance, adopting an hourly billing system in which points are consumed according to the working hours of Shared Staff. Surplus points are carried forward to the following month and beyond, creating a structure that encourages continued customer usage. Under quasi-delegation (subcontract) agreements, the company directs and supervises the work, clearly distinguishing the arrangement from worker dispatching. Revenue per Shared Staff hour stood at ¥9,403 (up 11.4% year on year), with the company expanding revenue through the twin drivers of personnel growth and rising unit prices.

Company Strengths

Revenue increased for four consecutive fiscal years, from ¥2,075 million in FY2021 to ¥3,514 million in FY2025. Operating income in FY2025 reached ¥560 million (up 41.7% year on year), achieving an operating margin of 15.9%. The growth in SG&A expenses (up 9.9% year on year) was lower than the growth in gross profit (up 19.1% year on year), indicating that operating leverage is becoming apparent.

The company obtained certification under ISO/IEC27001, the international standard for information security management systems, in 2007, ensuring the reliability of services handling clients' confidential and personal information. Through its membership-based knowledge-sharing service "Kikzo," the company has built a proprietary ecosystem that enables IT knowledge sharing among client companies.

At the end of FY2025, the equity ratio stood at 64.5%, with cash and cash equivalents of ¥2,275 million (up ¥207 million year on year). The company has no interest-bearing debt, and operating cash flow was ample at ¥679 million. Under its policy of allocating IPO proceeds to new investments, the company is positioned to continue growth investments while maintaining financial stability.

ENVALITH's Perspective

The operating margin of 21.8% in Q1 FY2026 (fiscal year ending December 2026) is running well ahead of the full-year forecast pace (operating profit of ¥652 million ÷ net sales of ¥4,114 million = 15.8%). The combined effect of Shared Staff headcount of 276 (up 33 year-on-year) and sales per operating hour of ¥10,603 (up 19.3% year-on-year) has materialized more strongly than expected, warranting consideration of upside potential relative to the full-year forecast (net sales of ¥4,114 million, operating profit of ¥652 million). Q1 progress rates were high, at 24.2% for net sales and 33.3% for operating profit.

Accounting IT (Shared Accounting IT Staff) service, which launched in Q1 FY2026 (fiscal year ending December 2026), recorded net sales of ¥49 million in its first quarter, showing a solid start. IT Infrastructure (Shared IT Infrastructure Staff) also expanded rapidly, up 86.7% year-on-year to ¥53 million. On the other hand, In-house Development (Shared In-house Development Staff) was the only service line to see a decline, down 6.3% year-on-year to ¥51 million. Revenue dependence on Information Systems General (Shared IS Staff) (¥843 million, 84.6% of total) remains high, and scaling up specialized service lines will be key to revenue diversification. As an external factor, the worsening shortage of domestic IT talent continues to underpin demand.

Since net sales growth is directly linked to the expansion of Shared Staff headcount, intensifying competition for talent or rising turnover could immediately lead to a slowdown in growth. The current business base is concentrated in the Tokyo metropolitan area, with expansion into regional areas still at the consideration stage, including via M&A. Achieving the long-term target of ¥10 billion in net sales and 1,000 employees by 2033 will require concrete progress on regional expansion and further strengthening of recruitment and training systems, and progress should be monitored continuously.

Growth Strategy

Combining multi-layered deployment of specialized services with M&A, the company aims to achieve ¥10 billion in revenue and 1,000 employees by 2033

Continued investment in personnel recruitment and training programs (UG Academy) is expanding the number of Shared Staff. As of the end of Q1 FY2026 (ending December 2026), headcount stood at 276 (up 33 year on year). Expansion of operating capacity is the primary driver of revenue growth.

Building on Information Systems General, the company is deploying specialized services in In-house Development, IT Infrastructure, and Accounting IT. Accounting IT was newly launched in Q1 FY2026 (ending December 2026), recording ¥49 million in its first quarter. IT Infrastructure is expanding rapidly, up 86.7% year on year.

The company is considering M&A and other measures aimed at geographically expanding its business base, which is currently concentrated in the Greater Tokyo area. No specific deals have been announced, but ample cash holdings (¥3,004 million) support investment capacity.

The company continues to raise revenue per operating hour for Shared Staff. In Q1 FY2026 (ending December 2026), this figure rose significantly to ¥10,603 per hour (up 19.3% year on year). The combined effect of headcount growth and price revisions is accelerating margin improvement.

Last updated: July 17, 2026