ENVALITH
株式会社Speee logo

Speee, Inc.

4499・Standard Market・Information & Communication

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株式会社Speee logo
Speee, Inc.4499

Business

Speee, Inc. operates under the mission of "Solving to the fullest. Drawing the future closer," leveraging data analysis capabilities and technology to drive digital transformation across diverse industry sectors. In its core Real Estate DX Business, the company operates three services—Ieul (a used real estate sales matching service), Nurikae (an exterior wall renovation matching service), and Caresuru Kaigo (a nursing care facility matching service)—running platforms that optimally match consumers with businesses. In the Marketing DX Business, the company supports corporate data utilization and marketing sophistication through Web Analytics, PAAM, Trading Desk, UZOU, and SPEC. Furthermore, the company is also cultivating next-generation businesses, including the Data Platform Business, which utilizes blockchain technology, and WorQ (Back-Office Task Management System), a back-office SaaS. Founded in 2007, the company is listed on the Standard Market of the Tokyo Stock Exchange.

Business Model

In the Real Estate DX Business, revenue is derived from success-based fees tied to the number of referrals or closed deals made to affiliated businesses (real estate, renovation, and nursing care facility operators) from consumer users. In the Marketing DX Business, the company earns fixed monthly consulting fees from client companies as well as ad management fees proportional to advertising spend. By leveraging proprietary data accumulated across both businesses (such as valuation brokerage data and search data), the company maintains its competitive advantage through improved matching accuracy and automated optimization of campaign outcomes.

Company Strengths

In FY2023 (ending September 2023), Real Estate DX Business revenue reached ¥9,411 million (up 37.3% year on year), and segment profit reached ¥1,134 million (up 33.3% year on year). Continued growth in the number of affiliated agencies and users, along with strengthened collaboration with partner media and alliance partners, drove the high growth. The three services—Ieul, Nurikae, and Caresuru Kaigo—are deployed across multiple domains.

Marketing DX Business achieved segment profit of ¥2,061 million against revenue of ¥4,176 million, representing an extremely high profit margin of 49.4%. The source of competitive advantage lies in the pre-emptive prediction and automatic optimization of measure outcomes using proprietary accumulated search data and site content data, with steady acquisition of consulting projects continuing.

Excluding back-office staff, the company maintains a balanced composition of full-time employees, with roughly one-third in product development specialist roles, roughly one-third in data analysis and utilization specialist roles, and roughly one-third in business-related roles. The annual securities report describes an organizational structure capable of consistently executing the entire process from data analysis to productizing insights and delivering them to customers.

ENVALITH's Perspective

Operating loss for the interim period of FY2026 (ending September 2026) was ¥420 million (versus operating profit of ¥37 million in the same period of the prior year), and interim net loss attributable to owners of the parent was ¥622 million (versus a loss of ¥132 million in the same period of the prior year), with losses expanding sharply. The segment loss of the Financial DX business was ¥822 million (versus ¥518 million in the same period of the prior year), a year-on-year expansion of 58.7%, and this is the primary driver of the deterioration in company-wide profit and loss. The full-year earnings forecast remains unchanged at net sales of ¥17,000 million, operating loss of ¥1,704 million, and net loss of ¥2,079 million; however, the interim net loss has already reached approximately 30% of the full-year forecast, and depending on the pace of loss expansion in the second half, there is a risk of downward revision to the forecast.

Combined segment profit for the Legacy Industry DX and DX Consulting businesses was ¥1,519 million (versus ¥1,688 million in the same period of the prior year), maintaining a certain level; however, ¥1,117 million was deducted as an adjustment item for company-wide expenses (mainly general and administrative expenses not attributable to reportable segments), limiting the contribution to operating income. Cost of sales increased 26.5% from ¥1,623 million in the same period of the prior year to ¥2,053 million, and attention should also be paid to the fact that changes in the cost structure are pushing down the gross margin. As for the external environment, corporate demand for DX promotion remains at a high level, but price pressure due to intensifying competition also continues.

Operating cash flow for the interim period of FY2026 (ending September 2026) was a net outflow of ¥655 million (versus a net inflow of ¥157 million in the same period of the prior year), a significant deterioration. Financing activities also resulted in a net outflow of ¥748 million due to repayment of long-term borrowings of ¥748 million, and cash and cash equivalents decreased by a total of ¥1,458 million for the interim period. Although the company currently holds cash on hand of ¥7,937 million, if the full-year net loss forecast of ¥2,079 million and continued loan repayments proceed, investor attention to the medium-term outlook for cash flow may increase. Interest expenses also surged from ¥4 million in the same period of the prior year to ¥23 million, and the rising cost of interest-bearing debt is also weighing on earnings.

Growth Strategy

Pursuing mid- to long-term growth through three pillars: deepening the Legacy Industry DX business, maintaining high profitability in DX Consulting, and commercializing the Financial DX business

By optimizing customer acquisition efficiency, the company is narrowing the number of users acquired while focusing on improving post-acquisition conversion rates and average unit prices. Expansion across multiple domains—real estate, renovation, and nursing care—diversifies the revenue base, aiming for continuous improvement in segment profit margin. Achieved a 12.3% increase in segment profit in the interim period of FY2026 (ending September 2026).

The company is promoting diversification of the solutions it offers to increase customer unit prices. It is making advance investments in personnel and AI, which weigh on profit in the short term but aim to strengthen competitiveness over the mid to long term. In the interim period of FY2026 (ending September 2026), the trade-off between a decrease in the number of projects and an increase in customer unit price continued.

The company continues to expand active investment in developing international remittance solutions using stablecoins and in businesses related to tokenized deposits. As of the interim period of FY2026 (ending September 2026), no revenue has been recognized, and the segment loss expanded 58.7% year on year to ¥822 million. The business foundation is being strengthened with the addition of three newly consolidated companies (including Spiral Partners).

Last updated: July 17, 2026