ItoKuro Inc.
6049・Growth Market・Services
Business
ITOKURO Inc. operates under the mission of "Education that enriches everyone's life," running a cross-cutting portfolio of vertical portal sites covering a wide range of education domains from early childhood education to higher education, including the cram school/prep school search service JukuNavi, the extracurricular activities search service Kodomo Booster, and the school information service Minna no Gakko Joho. Its main customers are users (parents and students) searching for educational services, and client companies nationwide—cram schools, prep schools, and other schools—seeking to attract students. Founded in 2006, the company listed on the Tokyo Stock Exchange Mothers market (now the Growth Market) in 2015. It operates as a single segment: Internet Media Business (Single Segment).
Business Model
The company accumulates reviews continuously collected and screened from users as neutral content, maximizing search-driven traffic to attract a large volume of prospective customers to its portal sites. For client companies (cram schools, prep schools, etc.), it primarily adopts a performance-based fee model, receiving compensation based on outcomes such as user inquiries and requests for materials. By completing planning, site design, system development, and operations entirely in-house, the company achieves speedy improvements and high cost-effectiveness.
Company Strengths
JukuNavi boasts over 110,000 listed classrooms (as of October 31, 2025) and over 13.87 million annual visitors (in the fiscal year ended October 2025), and ranked No. 1 in user count in the "2025 Market Survey on the Use of Cram School and Prep School Search Sites." The site has a track record of continuously growing its visitor count from 130,000 in 2008.
The company continuously collects user reviews on its major portal sites and, in principle, reviews all submissions, thereby accumulating neutral, high-quality content. This long-term accumulation of reviews forms an entry barrier that is difficult for competitors to replicate in a short period, contributing to enhanced user trust and sustained customer-acquisition capability.
As of the end of the fiscal year ended October 2025, the company held total assets of ¥9,877 million against net assets of ¥9,216 million (equity ratio of approximately 93%), and cash and cash equivalents of ¥6,337 million. The company maintains debt-free management, and with investment securities also increasing by ¥385 million, its financial soundness stands at an extremely high level.
ENVALITH's Perspective
Performance Trend
Revenue peaked at ¥4,268 million in FY2021 and has remained at low levels for five consecutive fiscal years; in the first half of FY2026 (ending October 2026), revenue was ¥1,695 million (down 12.4% year on year), continuing the revenue decline trend. On the profit side, however, the first half of FY2026 (ending October 2026) saw a sharp recovery, with operating profit of ¥243 million (up 30.0% year on year) and interim net profit of ¥185 million (up 57.8% year on year). This was mainly due to a substantial reduction in SG&A expenses (down ¥284 million year on year). In terms of the external environment, the shift of advertising budgets toward the web in the education industry continues, but soaring advertising unit prices in the cram school portal domain have led clients to curb ad placements, creating structural downward pressure on revenue. The full-year forecast remains unchanged, with revenue of ¥3,000–3,400 million and operating profit of ¥400 million.
Growth Strategy
Aiming to become the No. 1 education media company through deeper penetration of existing portals and lateral expansion into untapped areas within the education industry
Continuous content expansion and UI/UX improvements are being implemented for core services such as "JukuNavi," "Kodomo Booster," and "Minna no Gakko Joho," aiming to raise awareness and expand the customer base. Management commented that progress in the first half was in line with plan.
Portal sites are being expanded into education areas beyond cram schools through derivative services such as "Minna no Senmongakko Joho" and "Igakubu Yobiko Guide." The aim is to diversify revenue and stabilize the earnings base. Existing services are contributing to supporting sales.
The company is pursuing improvement in the operating profit margin through reductions in selling, general and administrative expenses. In the first half of FY2026 (ending October 2026), SG&A expenses were reduced to ¥1,268 million (down ¥284 million year on year), achieving a 30% increase in operating profit despite a decline in sales. Progress is favorable toward achieving the full-year operating profit forecast of ¥400 million (up 53.5% year on year).
Last updated: July 17, 2026