jig.jp co. ,ltd.
5244・Growth Market・Information & Communication
Business
jig.jp, Inc. was founded in 2003 and listed on the Tokyo Stock Exchange Growth Market in December 2022; it is an IT company headquartered in Sabae City, Fukui Prefecture. Its core business is the live streaming service Fuwacc (launched in 2015), which accounts for approximately 95% of consolidated net sales. Its target users are general consumers in their 30s to 50s, and it differentiates itself as a platform centered on amateur streamers. In addition, the company offers a VTuber business, restaurant reservation proxy service Pecotter, virtual music live streaming service topia, and feature phone browser jig browser to consumers. For local governments, it provides an Open Data Platform and the programming educational tool IchigoJam (Kids' PC Business). In April 2026, the company made Bachelor Date Inc., which operates a matching app, a subsidiary, advancing its business diversification.
Business Model
On Fuwacc, streaming and viewing are provided free of charge in principle, with the primary revenue source (approximately 95% of net sales in FY2026, ending March 2026) being sales of paid items purchased by viewing users to support streamers. Streamers earn points (1 point = equivalent to ¥1) based on the number of items received and other factors, which can be exchanged for cash and other forms of compensation. The company maintains user engagement through monthly events and the introduction of new items, while controlling user acquisition costs through disciplined advertising investment based on ROAS/ROI management. The structure aims to enhance profitability by diversifying payment channels to increase the proportion of browser-based payments, thereby reducing payment processing fees.
Company Strengths
The core users of Fuwacc are the working-age generation centered on those in their 30s to 50s, a segment with higher wage levels than those in their teens to 20s, based on the Ministry of Health, Labour and Welfare's "Reiwa 7 Basic Survey on Wage Structure." In the fourth quarter of FY2026 (ending March 2026), the average monthly payment amount per paying user was ¥29,833 (up 2.2% year on year), maintaining an increasing trend and partially offsetting the decline in the number of unique paying users.
Based on operational know-how accumulated since the service launched in 2015, the company conducts real-time image monitoring, comment NG-word monitoring, report handling, and social listening across all broadcasts, 24 hours a day, 365 days a year. It has established a multi-layered integrity maintenance system, including comprehensive agreements with copyright management organizations (JASRAC and NexTone) and minor protection measures (monthly purchase limits, prohibition of late-night broadcasting), constituting an operational asset that is difficult for competitors to replicate in a short period.
The company has continued disciplined management of advertising investment focused on ROAS and ROI, maintaining an operating margin of roughly 13% to 15% even as revenue expanded from ¥10,504 million in FY2023 (ended March 2023) to ¥14,631 million in FY2026 (ending March 2026). In addition, it has its own unique cost management system aimed at improving profitability by diversifying payment channels to increase the proportion of browser-based payments, thereby reducing fees paid to payment platform operators.
ENVALITH's Perspective
Performance Trend
Revenue achieved five consecutive years of growth, rising from ¥10,504 million in FY2023 (ended March 2023) → ¥12,247 million in FY2024 (ended March 2024) → ¥13,796 million in FY2025 (ended March 2025) → ¥14,631 million in FY2026 (ending March 2026), but the growth rate slowed from 12.6% to 6.1%. Operating profit peaked at ¥2,012 million in FY2025 (ended March 2025), up from ¥1,804 million in FY2024 (ended March 2024), before declining to ¥1,976 million in FY2026 (ending March 2026). The main causes were an increase in cost of sales (+34% year on year) and expansion of SG&A expenses. Net profit for the period recovered from ¥1,077 million to ¥1,155 million due to the disappearance of the extraordinary loss recorded in FY2025 (ended March 2025) (a one-time loss of ¥156 million related to the refund issue). In terms of the market environment, intensifying competition in the video and live-streaming market has kept advertising expenses elevated, resulting in a continued pattern where the effect of revenue growth is offset by rising costs. For FY2027 (ending March 2027), the company forecasts revenue of ¥16,500 million (+12.8%) and operating profit of ¥1,980 million (+0.2%), anticipating revenue growth including the contribution from Bachelor Date Co., Ltd., while profit levels are expected to remain flat.
Growth Strategy
A two-pronged strategy of deepening the profitability of "Fuwacc" and diversifying the business through M&A in adjacent domains
Continuing to implement measures to prevent user fatigue through the addition of new items and features and the holding of regular events. The company aims to maintain and improve profitability through disciplined advertising investment based on ROAS/ROI management focused on acquisition efficiency, and through compression of payment processing fees by increasing the browser payment ratio.
The company made Bachelor Date, Inc., which operates the vetted matching app "Bachelor Date," a wholly owned subsidiary for ¥3,483 million (executed on April 30, 2026). By deploying the company's marketing expertise and engineering resources, it aims to accelerate growth and achieve revenue diversification away from dependence on live streaming.
In addition to the existing live streaming business, the company has stated its policy of actively working to expand the revenue base of new businesses. This includes the new consolidation of Ambirial Co., Ltd. (in FY2026, ending March 2026), which will add depth to the group's business portfolio.
Last updated: July 19, 2026