Inbound Platform Corp.
5587・Growth Market・Information & Communication
Mobile Network Business
Inbound communication services business centered on Wi-Fi rental and eSIM/SIM sales for foreign visitors to Japan
| Period | Current | Previous | Change |
|---|---|---|---|
| Net sales (cumulative interim period, FY2026 (ending September 2026)) | ¥726 million | ¥419 million (Q1 standalone, FY2026 (ending September 2026)) | — |
| Segment profit (cumulative interim period, FY2026 (ending September 2026)) | ¥5 million | ¥98 million (full year, FY2025 (ended September 2025)) | ↓ |
| Net sales (full year, FY2025 (ended September 2025)) | ¥1,644 million | ― | — |
| Segment profit (full year, FY2025 (ended September 2025)) | ¥98 million | ― | — |
Business Details
Provides Wi-Fi device rental services (Japan Wireless), SIM card/eSIM sales and referral services (Guro Moba), and Mobile Accessory Sales primarily to inbound travelers to Japan (mainly from Western countries) and domestic corporate customers. Strengths include a multilingual customer support system and digital marketing know-how for foreign customers, achieving UI/UX localized for each country. The cost structure has a high proportion of fixed costs, including communication expenses and depreciation, such that improvements in utilization directly impact profitability.
Recent Overview
While eSIM expanded, Wi-Fi rental declined, and segment profit remained low at ¥5 million
In the interim period of FY2026 (ending September 2026) (October 2025 to March 2026), eSIM usage expanded while Wi-Fi device rental declined. As a result, net sales were secured at ¥726 million, but segment profit was limited to ¥5 million. As the service trend shift toward eSIM continues, rising procurement costs and the burden of fixed costs continue to weigh on profitability.
Key Products
Growth Drivers
- Expansion of Wi-Fi rental and eSIM demand driven by the increase in the number of foreign visitors to Japan (21.71 million over the six months from October 2025 to March 2026)
- Expansion of eSIM service usage: the online-completion convenience without the need for a physical device is appealing, with marketing efforts focused accordingly
- Brand strength based on appeal to customers from various countries through multilingual support and localization, and high customer satisfaction
- Fixed cost leverage effect from improved mobile network utilization (a cost structure with a high proportion of fixed costs such as communication expenses and depreciation)
- Further revitalization of the inbound market driven by global events such as Expo 2025 Osaka, Kansai, Japan
Risks
- Structural decline in demand for Wi-Fi device rental due to the service trend shift toward eSIM
- Pressure on segment profit due to rising procurement costs associated with increased eSIM transaction volume
- Increase in advertising expenses and sales commissions due to new entrants and intensifying competition
- Foreign exchange risk (foreign exchange losses recorded as non-operating expenses)
- Risk of profit pressure when utilization declines, due to the high proportion of fixed costs related to Wi-Fi device and communication procurement
Last updated: December 19, 2025