ENVALITH
株式会社アイモバイル logo

i-mobile Co.,Ltd.

6535・Prime Market・Services

Official website
株式会社アイモバイル logo
i-mobile Co.,Ltd.6535

Business

aimobile Co., Ltd. was established in 2007 as an internet marketing company. Building on the technology and know-how developed in its founding ad network business, the company launched the furusato nozei (hometown tax donation) portal site "Furunavi" in 2014. It currently operates two segments: Consumer Business (furusato nozei, travel, restaurant PR, and point services) and Internet Advertising Business (ad network, influencer marketing, media solutions, ad agency, and app operation). Of the ¥21,528 million in net sales for FY2025 (ending July 2025), the Consumer Business accounted for approximately 88%, or ¥19,059 million, with the furusato nozei business serving as the core driver of revenue. The company is listed on the Prime Market of the Tokyo Stock Exchange.

Business Model

In the Consumer Business, through the operation of Furunavi, a furusato nozei (hometown tax donation) portal connecting local governments and donors, the company's main revenue source is intermediary fees linked to donation amounts. It seeks to improve LTV through peripheral services (travel, gourmet, points). In the Internet Advertising Business, the company generates diverse revenue through click-based and video-completion-based ad networks, performance-based affiliate marketing, the influencer marketing platform "Action," media revenue maximization support, smartphone in-app advertising, and more.

Company Strengths

In FY2024, furusato nozei donation receipts grew approximately 1.1x year on year, and the number of people applying for the deduction reached a record high of approximately 10.80 million. Meanwhile, the utilization rate remained at 18.9%, leaving substantial room for market expansion. Furunavi has set a target of 20% market share, and donation receipt amounts, number of donations, and membership numbers all grew steadily year on year.

For FY2025 (ending July 2025), operating profit was ¥4,133 million (operating margin of 19.2%), and ROE was 18.7%, exceeding the company's own target of 15%. Operating cash flow was secured at ¥4,816 million, and the balance of cash and cash equivalents stood at ¥17,496 million, underpinning a solid financial foundation. The company maintains a basically debt-free management approach, funding investments and shareholder returns through its own capital.

Since its founding in 2007, the company has progressively developed ad networks for mobile, PC, and smartphone platforms, building one of the largest ad delivery scales in Japan. It possesses ad delivery technology leveraging statistical processing and machine learning, along with extensive user data. It has also obtained certification as a Google-official Certified Media Solutions Partner, underscoring its technical credibility.

ENVALITH's Perspective

Operating profit for the cumulative nine months of FY2026 (ending July 2026) fell sharply to ¥3,377 million (down 15.0% year on year). Consumer Business segment profit came to only ¥3,401 million (86.1% of the prior-year level), impacted by the front-loaded strategic promotion expenses incurred in the first quarter. Since the second quarter, promotion expenses have been optimized and profit margins have shown a recovering trend, but the cumulative nine-month progress rate stands at 75.0% against the full-year operating profit forecast of ¥4,500 million (up 8.9% year on year), indicating that a recovery in the fourth quarter will be necessary.

Cumulative nine-month sales in the Internet Advertising Business came to ¥1,756 million (95.9% of the prior-year level), while segment profit fell sharply to ¥24 million (20.4% of the prior-year level). The main causes were budget cuts by major clients and declining demand for ad-network-type advertising. The company is pursuing structural restructuring through Ad Network OEM and business integration, but improvement in the earnings base remains a work in progress. As an external factor, Japan's overall internet advertising market continues to grow at 110.8% year on year, but the ad-network segment has relatively slowed, and headwinds to the company's business are expected to persist for the time being.

In the cumulative nine months, 23 new solar power plants began operation, bringing the total to 45 sites, and from March 2026 the company also began participating in the balancing market for grid-connected storage batteries. The retail electricity business "Furunavi Denryoku" also launched in June 2025, and contracts for the "Smart Price Plan," which is linked to furusato nozei (hometown tax donation), are progressing steadily. Property, plant and equipment surged from ¥1,084 million at the end of the previous fiscal year to ¥3,348 million, indicating the company is in an investment phase. From the perspective of diversifying the risk of revenue concentration in the furusato nozei business, the pace of expanding the earnings contribution from the energy business will be a key point of evaluation going forward.

Growth Strategy

Driving revenue diversification through expansion of services surrounding "Furunavi," green energy investment, and restructuring of the advertising business

Promoting the penetration and establishment of the prepaid payment service "Furunavi Money," and driving cross-service expansion in conjunction with the expansion of the number of affiliated facilities for "Furunavi Travel Reservation." Aiming to establish continued usage leveraging the member base and strengthen the revenue foundation. Usage is expanding steadily.

Promoting the expansion of operating solar power plants (agrivoltaic and ground-mounted), entry into the supply-demand adjustment market with grid-connected storage batteries, and expansion of contracts for the retail electricity business "Furunavi Denryoku." As of the cumulative third quarter, 45 power plants were in operation, and entry into the supply-demand adjustment market began in March 2026, with revenue contribution starting to materialize.

Promoting the provision of a service that handles complex operational tasks such as portal listing, delivery management, and business operator support on behalf of municipalities, thereby expanding the number of contracted municipalities and deepening relationships with them. Donation receipt amounts and revenue continue to reach record highs, indicating the measures are proving effective.

The three businesses of Ad Network, influencer marketing, and media solutions were integrated into the "Internet Marketing Business (Ad Network)" in February 2026. Efforts are underway to improve profitability through expanded provision of Ad Network OEM, solutions combining multiple products, and revision of customer targeting; however, segment profit stood at ¥24 million (down more than 80% year on year), indicating improvement is still underway.

Last updated: July 17, 2026