Excite Holdings Co.,Ltd.
5571・Standard Market・Information & Communication
Platform Business
Group's second-largest stable-earnings segment, comprising counseling and media services
| Period | Current | Previous | Change |
|---|---|---|---|
| Revenue (Full year, FY2026, ending March 2026) | ¥3,396 million | ¥3,485 million | ↓ |
| Operating profit (Full year, FY2026, ending March 2026) | ¥550 million | ¥541 million | ↑ |
| Operating margin (Full year, FY2026, ending March 2026) | 16.2% | 15.5% | ↑ |
| Depreciation and amortization (Full year, FY2026, ending March 2026) | ¥124 million | ¥110 million | ↑ |
| Goodwill amortization (Full year, FY2026, ending March 2026) | ¥22 million | ¥13 million | ↑ |
| Unamortized goodwill balance (End of FY2026, ending March 2026) | ¥76 million | ¥99 million | ↓ |
Business Details
This segment encompasses counseling services such as "Excite Denwa Uranai" and "Excite Onayami Soudanshitsu," media services such as "Woman Excite" and "Excite News," and M&A Advisory & Brokerage Service, all operated by Excite Co., Ltd. From the current fiscal year, medical services such as online medical consultations have been separated out as the "Medical Business," resulting in a change to the segment composition. The segment accounts for approximately 31% of group revenue (FY2026, ending March 2026), with counseling services positioned as a cash cow.
Recent Overview
Revenue down 2.5% on falling ad unit prices, but operating profit up 1.5% on solid counseling services
Full-year revenue for the Platform Business in FY2026 (ending March 2026) was ¥3,396 million (down 2.5% year on year). A decline in advertising unit prices in media services pushed down revenue, while counseling services remained solid. Operating profit increased to ¥550 million (up 1.5% year on year), and the operating margin improved to 16.2%. Note that, from the current fiscal year, medical services such as online medical consultations have been separated out as the "Medical Business," so year-on-year comparisons are made using figures restated under the revised segment classification.
Key Products
Growth Drivers
- Expanded acquisition of high-quality fortune-tellers and counselors in counseling services and new member acquisition through active promotional investment
- Structural expansion of demand for counseling services against a backdrop of an increasing number of patients with mental health conditions
- Expected improvement in the media services market environment driven by continued growth of the internet advertising market
- Contribution to stable profit generation as an existing business under the medium-term management plan EXCITE300
- Improved transparency of the earnings structure through segment refinement following the separation of medical services
Risks
- Risk of declining advertising unit prices in media services (already materialized in full-year FY2026, ending March 2026, as the main cause of the 2.5% revenue decline)
- Risk of margin deterioration in counseling services due to increased advertising and promotional expenses
- Risk of slowing revenue growth as the segment's growth drivers shrink following the separation of medical services
- Risk of profit pressure from increased goodwill amortization (¥22 million in FY2026, ending March 2026, up 71% year on year)
- Risk that the Platform Business's overall revenue becomes relatively smaller within the group (approximately 31% of group revenue in FY2026, ending March 2026), increasing its role as an earnings base to offset the widening losses in the Medical Business
Last updated: June 26, 2026