Shin Maint Holdings Co.,Ltd.
6086・Growth Market・Services
Business
Shin Maintenance Holdings Co., Ltd. is a specialized holding company that provides one-stop maintenance services for malfunctions in equipment, fixtures, and interior/exterior features of stores and facilities, primarily serving major clients in the restaurant industry, merchandising, retail, and nursing care sectors. The company operates three services: Emergency Maintenance Service (response to sudden troubles), Preventive Maintenance Service (regular inspections and cleaning), and Maintenance Outsourcing Service (for kitchen equipment manufacturers). Leveraging a network of over 10,000 "Menteki-pa" (partner contractors) nationwide, the company operates on a 24-hour, 365-day basis. Founded in 1999, the company listed on the Tokyo Stock Exchange Mothers market (now the Growth Market) in 2013.
Business Model
A platform-based business that receives maintenance requests from customer stores on a consolidated basis and selects and arranges the optimal service provider from over 10,000 Maintenance Keepers nationwide. Through a fabless structure with no in-house construction capability, the company suppresses fixed costs while providing one-stop coverage from reception and progress management through completion reporting. Outsourcing costs account for approximately 75.6% of net sales (outsourcing costs of ¥19,458 million against net sales of ¥25,708 million), with profit secured through a spread-based revenue model.
Company Strengths
By networking over 10,000 partner contractors (Mainte Keepers) spread across the country, the company achieves rapid dispatch regardless of region or work type. Combined with a 24-hour, 365-day reception system, this allows the company to capture jobs in areas and work types that competitors cannot handle, continuously increasing its share within the industry.
Revenue expanded approximately 1.8-fold from ¥16,434 million in FY2022 to ¥29,946 million in FY2026 (ending March 2026). Operating profit also doubled over the same period, from ¥905 million to ¥1,857 million. The company maintains high capital efficiency, with ROE of 28.6% and ROA of 11.9% (FY2025), which numerically supports the earnings stability of its fabless-type business model.
At the "Maintenance Dojo" (Mainte Dojo) established at the head office and each sales office, the company conducts training for customers utilizing online video distribution and live broadcasts. This serves as a differentiation measure that deepens trust while contributing to reducing customers' outsourcing costs, leading to an increase in the number of stores served and the range of maintenance types handled for existing customers.
ENVALITH's Perspective
Performance Trend
From FY2022 to FY2026, revenue grew from ¥16,434 million to ¥29,946 million (average annual growth of +16.2%), and operating profit grew from ¥905 million to ¥1,857 million (average annual growth of +19.7%), achieving 5 consecutive fiscal years of revenue and profit growth. In the first quarter of FY2027 (ending February 2027) (March–May 2026), performance remained solid, with revenue of ¥7,565 million (+12.2% year-on-year), operating profit of ¥498 million (+11.7% year-on-year), ordinary profit of ¥497 million (+5.3% year-on-year), and quarterly net income attributable to owners of the parent of ¥362 million (+18.8% year-on-year). The main reason ordinary profit growth slowed from the same period of the previous year (+29.4%) was a significant decrease in non-operating income due to the absence of ¥27,695 thousand in insurance cancellation refund recorded in the same period of the previous year. As for external factors, increased demand for maintenance driven by rising interest in air conditioning and ventilation systems provided a tailwind, while rising energy costs and labor shortages continued to exert upward pressure on outsourcing costs. Comprehensive income decreased to ¥266 million (-21.1% year-on-year), affected by a ¥96,458 thousand decrease in valuation difference on available-for-sale securities.
Growth Strategy
Diversification of customers and industries, expansion of value-added services, and business scale expansion through management integration with Sanki Service Co., Ltd.
In response to growing interest in air conditioning and ventilation systems at stores and facilities, the Company formed a dedicated air conditioning project team. This has contributed to winning orders from new customers and expanding the scope of services for existing customers, and remains a key driver supporting the strong performance of the Emergency Maintenance Service in the current 1Q.
With the aim of reducing dependence on the restaurant industry and expanding growth opportunities, the Company is strengthening service provision and sales promotion activities targeting the retail, general merchandise, and nursing care industries. In the current 1Q, results were confirmed in both expanding existing customers and acquiring new customers.
The Company operates the Planned Repair Service "P-Mainte," which utilizes accumulated data for predictive management, in an integrated manner with the Commercial Air Conditioner Cleaning Robot business of Shin Robo Service, which was absorbed into Tesco Co., Ltd. in March 2026, thereby contributing to greater efficiency in customers' facility maintenance management. The aim is to improve unit prices through enhanced value-added offerings.
On July 15, 2026, the Company entered into a management integration agreement and a share exchange agreement. The corporate name will be changed to "Sanki Shin Mainte Holdings Co., Ltd.," and through integration based on the spirit of equal partnership between the two companies, the aim is to significantly strengthen business scale and competitiveness. The quantitative impact on performance has not yet been calculated at this time.
Last updated: July 17, 2026