AIAI Group Corporation
6557・Growth Market・Services
Business
AIAI Group Corporation is a holding company that develops the "AIAI Sanikuken" (AIAI Tri-Education Zone), which provides licensed childcare facilities (AIAI NURSERY / Kirara Nursery School), multi-function facilities (AIAI PLUS (Multi-function Facility)), nursery visit support services (AIAI VISIT (Nursery Visit Support Service)), and early childhood education (CHaiLD (Education Business)) in an integrated manner, centered on major metropolitan areas including Tokyo, Chiba Prefecture, Kanagawa Prefecture, and Osaka Prefecture. With the acquisition of Kirara Group HD (MPJ) in February 2026, the number of operated facilities expanded to 188. The company operates 154 licensed nursery schools, 10 certified nursery schools, and 21 multi-function facilities, among others, pursuing synergies among childcare, therapeutic support, and education.
Business Model
For licensed nurseries and small-scale nursery facilities, facility-type benefit payments and community-based benefit payments from municipalities serve as the main revenue source. Certified nursery schools generate revenue from user childcare fees and municipal subsidies, multi-function facilities from service fee claims to the National Health Insurance Federation, and nursery school operation outsourcing from commission fees paid by operators. Since public funding accounts for the majority of revenue, improving occupancy rates and expanding the number of facilities are the key drivers of profit growth in this structure.
Company Strengths
Following the acquisition of Pocoro Co., Ltd. in April 2025, the transfer of three licensed nursery school businesses in May of the same year, and the acquisition of Kirara Group HD (including MPJ) in February 2026, the number of operated facilities reached 188 at the end of the fiscal year under review. The company is executing a dominant strategy through concentrated deployment in specific areas, including 63 facilities in Chiba Prefecture and 50 facilities in Tokyo.
The company has built the 'AIAI Sanikuken' (AIAI Three-Education Sphere), which provides an integrated offering of three functions: 'childcare' through licensed nursery facilities (AIAI NURSERY), 'therapeutic education' through the multi-function facility AIAI PLUS and AIAI VISIT, and 'education' through CHaiLD Co., Ltd. The introduction of early childhood education programs, which has improved enrollment rates, contributed to the increase in revenue in FY2026 (ending March 2026) and serves as a differentiating factor against competitors.
In the medium-term management plan covering the period from FY2024 (ended March 2024) through FY2026 (ending March 2026), the company had set final-year targets of consolidated net sales of approximately ¥12.0 billion to ¥13.0 billion and operating profit of approximately ¥300 million to ¥500 million. Actual results for FY2026 (ending March 2026) came in at net sales of ¥14,634 million and operating profit of ¥1,105 million, both substantially exceeding the targets.
ENVALITH's Perspective
Performance Trend
In FY2026 (ending March 2026), net sales reached ¥14,633 million (up 12.0% year on year), operating profit reached ¥1,105 million (up 50.7% year on year), and profit attributable to owners of parent reached ¥621 million (up 47.3% year on year), all achieving significant improvement. EBITDA came to ¥1,783 million (up 23.6% year on year). While the gross profit margin remained flat at 16.4% (16.4% in the prior period), the operating profit margin improved from 5.6% to 7.6% due to greater efficiency in SG&A expenses. Note that the performance of KGH and MPJ is not included in the income statement for the current period, meaning the improvement stems solely from existing businesses. As an external factor, resilient demand for childcare, driven by the rising female labor participation rate, has supported the revenue base. Ordinary profit rose only 7.0% due to a sharp increase in fees paid (related to M&A).
Growth Strategy
Expansion of facility count through M&A and deepening of the "AIAI San-ikuken" ecosystem to maximize synergies
In February 2026, the company acquired KGH (a pure holding company with MPJ, which operates the Kirara Nursery School brand, as a subsidiary) at an acquisition cost of ¥10,255 million. The number of operated facilities expanded to 188, and with MPJ's results contributing for a full fiscal year from FY2027 (ending March 2027), revenue of ¥26,000 million (up 77.7% year on year) is projected.
Effective May 1, 2026, an absorption-type merger was carried out with MPJ as the surviving company and KGH as the dissolved company. Following the conclusion of KGH's role as a pure holding company, the group structure was reorganized to make effective use of management resources and to maintain the Kirara Nursery School brand.
The company aims to maximize synergy effects from its integrated model that provides childcare, therapeutic care, and education as three unified businesses, driving profitability improvement through higher utilization rates at existing facilities and the effects of introducing early childhood education programs. The operating margin for FY2026 (ending March 2026) improved to 7.6%, and the effects of these initiatives are beginning to show in the figures.
Last updated: July 19, 2026