ENVALITH
株式会社リンクバル logo

LINKBAL INC.

6046・Growth Market・Services

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株式会社リンクバル logo
LINKBAL INC.6046

Business

Linkbal Inc. operates under the mission of "Creating Encounters," centering on machicon JAPAN, one of Japan's largest e-commerce sites for romance and marriage-oriented matching events, alongside the matching app CoupLink, the cafe lounge 1on1 for Singles, the information site KOIGAKU (a portal providing dating and relationship information), and the couples-only app Pairy. Founded in 2011, the company listed on the Tokyo Stock Exchange Mothers market (now the Growth Market) in 2015. Targeting single men and women as its primary customer base, the company has built a comprehensive matchmaking ecosystem that integrates online and offline channels. Through its subsidiary MiDATA Inc., established in 2023, the company also operates an AI Solution Service business, aiming to establish a second pillar of earnings. The number of Linkbal ID members surpassed 2.83 million as of the end of September 2025.

Business Model

In the Event EC Site Operation Service, which accounts for approximately 70% of net sales, revenue sources include participation fees from company-planned events, listing fees and referral commissions from events hosted by other companies, and corporate promotional sponsorship fees. In the remaining approximately 30% from the Website Operation Service, the company earns paid membership fees from "CoupLink" and "Pairy" and advertising listing fees from "KOIGAKU". The subsidiary MiDATA generates revenue through contract development and provision of AI solutions.

Company Strengths

As of the end of September 2025, the number of Link-Bal ID members surpassed 2.83 million (exceeding 2.87 million as of the end of December 2025). The common ID forms a proprietary ecosystem enabling mutual customer referrals among "machicon JAPAN," "CoupLink," and "1on1 for Singles," contributing to lower new customer acquisition costs and improved user retention.

By linking three services—an event e-commerce site (machicon JAPAN), an online matching app (CoupLink), and a store-based cafe lounge (1on1 for Singles)—the company provides experiential value distinct from that of pure online matching apps. Following the launch of in-house planned events in Q4 of FY2025 (ended September 2025), the company achieved its first quarterly operating profit in approximately five years.

Established in May 2023, MiDATA promotes joint research with the University of Tokyo Market Design Center and the University of the Ryukyus, possessing AI development capabilities through industry-academia collaboration. It has a track record of implementing technology within the group, such as introducing an AI matching engine into CoupLink to eliminate impersonation-based fraudulent operators, and as of Q1 FY2026 (ending September 2026), AI Solution Service revenue grew rapidly, up 84.0% year on year.

ENVALITH's Perspective

Operating profit for the six months ended September 2026 was ¥864 thousand (versus an operating loss of ¥62,907 thousand in the same period a year earlier), marking a return to profitability from the consecutive first-half operating losses that had continued since FY2021 (ending September 2021). This was driven by the simultaneous achievement of an 11.6% increase in net sales and an 8.5% reduction in selling, general and administrative expenses (¥369,261 thousand). However, the absolute amount is extremely small, and it should be noted that this includes one-time costs associated with the transition to the Standard Market and a provision for shareholder benefits (¥9,986 thousand).

Due to the consecutive losses recorded since FY2021 (ending September 2021), material events relating to the going-concern assumption continue to be recognized. However, cash and deposits at the end of the interim period stood at a healthy ¥931 million, and the company has judged that its funding needs for the following 12 months are secured. The full-year earnings forecast still reflects thin profitability, with net sales of ¥971 million and operating profit of ¥2 million, and cost trends and sales progress in the second half will be key to maintaining profitability.

The AI Solution Service showed strong growth of 55.1% year on year, but interim net sales were only ¥63 million, accounting for just about 13% of total net sales of ¥493 million. While rising demand for the social implementation of AI technology is providing a tailwind as an external factor, the business remains structurally dependent on the mainstay Matching Service (¥431 million), and further scale expansion is needed for it to function as a second pillar of earnings.

Growth Strategy

Aiming to establish sustainable profitability through two pillars: expansion of the machicon JAPAN ecosystem and cultivation of the AI Solution Service

As the starting point of the growth strategy, the company is expanding the number and design of its proprietary planned events to acquire new customers and improve customer satisfaction. In the interim period, matching service revenue increased 7.2% year on year to ¥431 million, confirming progress on this initiative.

Leveraging the data utilization know-how and development technology cultivated in the matching business, the company is expanding AI contract development and technical support. Interim revenue increased 55.1% year on year to ¥63 million, and high growth has continued. While incorporating the growing societal need for AI implementation as a tailwind, the company aims for stable and sustainable business expansion.

The company continues to strengthen collaboration among CoupLink, 1on1 for Singles, and machicon JAPAN to increase users and differentiate from competitors. In 1on1 for Singles, the company is pursuing operational efficiency improvements and optimal staffing to enhance personnel cost efficiency, thereby improving profitability.

The company changed its market segment from the Growth Market to the Standard Market effective April 1, 2026. Screening fees and other expenses associated with the transition have already been recorded as a one-time item in selling, general and administrative expenses, and no continuing occurrence is expected from the following fiscal period onward.

Last updated: July 17, 2026