MATCHING SERVICE JAPAN CO.,LTD.
6539・Prime Market・Services
MS-Japan Co., Ltd. (Human Resources Business, single segment)
A single-segment company centered on recruitment placement specialized in administrative departments and licensed professions, operating human resources–related businesses both domestically and overseas
| Period | Current | Previous | Change |
|---|---|---|---|
| Sales (full year, FY2026 ending March 2026) | ¥7,647 million | ¥7,474 million | ↑ |
| Operating profit (full year, FY2026 ending March 2026) | ¥1,674 million | ¥1,605 million | ↑ |
| EBITDA (full year, FY2026 ending March 2026) | ¥2,139 million | ¥2,075 million | ↑ |
| Ordinary profit (full year, FY2026 ending March 2026) | ¥1,685 million | ¥1,682 million | ↑ |
| Profit attributable to owners of parent (full year, FY2026 ending March 2026) | ¥1,035 million | ¥1,033 million | ↑ |
| Operating profit margin (full year, FY2026 ending March 2026) | 21.9% | 21.5% | ↑ |
| Adjusted EPS (full year, FY2026 ending March 2026) | ¥53.91 | ¥54.24 | ↓ |
| Earnings per share (full year, FY2026 ending March 2026) | ¥41.64 | ¥41.53 | ↑ |
| Return on equity (ROE) (FY2026 ending March 2026) | 10.8% | 10.4% | ↑ |
| Cash and cash equivalents, period-end balance (FY2026 ending March 2026) | ¥3,855 million | ¥4,226 million | ↓ |
Business Details
The company's core business is the recruitment placement service "MS Agent," which specializes in administrative department roles such as accounting, finance, human resources, and legal affairs, as well as licensed professions such as lawyers, certified public accountants, and tax accountants. It also operates the direct recruiting service "MS Jobs," the media business "Manegy," and, through its consolidated subsidiary FourQuarters Recruitment Pty. Ltd., a recruitment placement and staffing business in Australia. The company is characterized by success fee–based recruitment placement centered on autonomous registrant acquisition through content marketing. Full-year sales for FY2026 (ending March 2026) were ¥7,647 million (up 2.3% year on year), and operating profit was ¥1,674 million (up 4.3% year on year).
Recent Overview
In FY2026 (ending March 2026), the company achieved increases in both sales and profit across all key metrics, with recruitment placement sales reaching a record high for the consolidated fiscal year
Full-year sales for FY2026 (ending March 2026) were ¥7,647 million (up 2.3% year on year), and operating profit was ¥1,674 million (up 4.3% year on year), achieving both higher sales and higher profit. Recruitment placement sales reached a record high for the consolidated fiscal year at ¥4,295 million. Overseas human resources sales increased 8.0% year on year in Australian dollar terms, but due to yen appreciation (¥96.50 per Australian dollar versus ¥100.05 in the prior year), the increase in yen terms was limited to 4.2%. Selling, general and administrative expenses decreased 1.5% year on year due to reduced rent expenses associated with branch office consolidation. For FY2027 (ending March 2027), the company forecasts sales of ¥8,174 million (up 6.9% year on year) and operating profit of ¥1,796 million (up 7.4% year on year). The annual dividend was maintained at ¥56.00 (payout ratio of 134.5%).
Key Products
Growth Drivers
- Expanding demand for human resources in administrative departments and licensed professions against the backdrop of increasing domestic employment fluidity (effective job openings-to-applicants ratio of 1.18 as of March 2026)
- Record high sales for the consolidated fiscal year in the recruitment placement business "MS Agent" (¥4,295 million, up 1.3% year on year)
- Increase in new registrants and job listings in focus segments (new registrants in occupations with high job listing volumes up 15.0% year on year; new job listings in segments with high placement rates up 0.1% year on year)
- Expansion of FourQuarters Recruitment Pty. Ltd.'s sales in Australian dollar terms (up 8.0% year on year) and the recovery trend in the Australian economy
- Expectations for improved placement volume from the introduction of the AI Copilot function (semi-automated matching) starting in FY2027 (ending March 2027)
- Building a new revenue model for the media business through the launch of the new app "Manegy Clip" (surpassing 10,000 downloads within about one month of launch)
- Cost efficiency improvements such as reduced rent expenses associated with branch office consolidation (selling, general and administrative expenses down 1.5% year on year)
- Efficient business operations through an autonomous registrant acquisition model based on content marketing
Risks
- Continued decline in sales in the DRM business (down 3.7% year on year in FY2026 ending March 2026)
- Structural headwind of declining efficiency in the lead-generation advertising model in the media business
- Downward pressure on yen-converted sales in the overseas human resources business due to continued yen appreciation against the Australian dollar (forecast exchange rate of ¥104.00 per Australian dollar for FY2027 ending March 2027)
- Decline in new job listings, a leading indicator for the recruitment placement business, compared to the prior year (down 10.6% year on year)
- Dependence of FourQuarters Recruitment Pty. Ltd. on Australian economic and monetary policy trends
- Concentration of revenue sources in human resources–related businesses, resulting in significant impact on performance from economic fluctuations and deterioration in the employment environment
- Concerns about financial sustainability due to continued dividend payments at a payout ratio of 134.5%, significantly exceeding net profit
- Rising marketing costs for acquiring job seekers across the human resources industry as a whole
- Risk of information leakage associated with holding large amounts of personal information
- Uncertainty about the economic outlook due to the impact of U.S. tariff policy and geopolitical risks in neighboring countries
Last updated: June 18, 2026