AIAI Group Corporation
6557・Growth Market・Services
Childcare Business
Single business segment operating the "AIAI Trinity Childcare Sphere" providing integrated childcare, therapeutic care (ryoiku), and education
| Period | Current | Previous | Change |
|---|---|---|---|
| Net sales (full year) | ¥14,633 million | ¥13,071 million | ↑ |
| Operating profit (full year) | ¥1,105 million | ¥733 million | ↑ |
| EBITDA (full year) | ¥1,783 million | ¥1,443 million | ↑ |
| Ordinary profit (full year) | ¥933 million | ¥872 million | ↑ |
| Profit attributable to owners of parent (full year) | ¥621 million | ¥421 million | ↑ |
| Operating margin | 7.6% | 5.6% | ↑ |
| Number of operating facilities (period-end) | 188 facilities | (113 facilities at end of Q3) | ↑ |
| Equity ratio | 12.1% | 22.5% | ↓ |
| Earnings per share | ¥95.45 | ¥65.30 | ↑ |
| Net assets per share | ¥500.89 | ¥426.10 | ↑ |
Business Details
Operates licensed nursery schools "AIAI NURSERY" and "Kirara Nursery School," the multi-function facility "AIAI PLUS," the nursery visit support service "AIAI VISIT," and the education business (CHaiLD Co., Ltd.) in Tokyo, Chiba Prefecture, Kanagawa Prefecture, Osaka Prefecture, and other major metropolitan areas. Main revenue sources are facility-type benefit payments and disability welfare service fees from local governments, supporting diverse children and guardians through the synergy of the "three pillars of care": childcare, therapeutic care, and education. This is the single segment comprising all of the Group's total revenue.
Recent Overview
Acquisition of Kirara Group HD expanded facility count to 188; total assets roughly doubled through large-scale M&A
On February 27, 2026, AIAI Inclusive Co., Ltd. acquired all shares of Kirara Group Holdings (KGH) for an acquisition cost of ¥10,255 million (cash consideration), making MPJ, which operates the "Kirara Nursery School" brand, a sub-subsidiary. Goodwill of ¥8,183 million was recorded (amortized evenly over 20 years). The profit and loss of KGH and MPJ are not included in the current period's consolidated statement of income, but are reflected on the balance sheet, expanding total assets to ¥26,907 million (an increase of ¥14,435 million from the prior period). Due to the increase in borrowings, the equity ratio declined to 12.1% (from 22.5% in the prior period). Additionally, an absorption-type merger was carried out effective May 1, 2026, with KGH as the dissolved company and MPJ as the surviving company.
Key Products
Growth Drivers
- Significant expansion to 188 facilities through the acquisition of Kirara Group HD (Kirara Nursery School brand), and projected net sales of ¥26,000 million (up 77.7% year-on-year) as MPJ's results contribute for a full fiscal year from FY2027 (ending March 2027)
- Expanded synergy effects among childcare, therapeutic care, and education within the "AIAI Trinity Childcare Sphere," and profit growth from productivity improvements
- Steady demand for nursery school usage amid rising female labor participation
- Tailwinds from national policy measures to address the declining birthrate, including full-scale implementation of the "Universal Childcare System"
- Effects of improved utilization rates at existing facilities and the introduction of early childhood education programs
Risks
- Mid- to long-term contraction in nursery demand due to the declining birthrate (the number of births in 2024 fell 5.7% year-on-year to a record low of 686,173)
- Financial and integration risks arising from the recording of ¥8,183 million in goodwill (amortized over 20 years) associated with the large-scale M&A (KGH acquisition cost of ¥10,255 million) and increased financial leverage (equity ratio of 12.1%)
- Increased interest-bearing debt, including long-term borrowings of ¥12,724 million and short-term borrowings of ¥3,100 million, and rising interest rate risk
- Continued pressure on profitability from ongoing increases in personnel expenses associated with improved treatment for nursery school staff
- Risk of economic downturn and impact on personal consumption due to the effects of U.S. trade policy and rising prices
- Risk of declining utilization rates at existing facilities as the waiting list for childcare is resolved
Last updated: June 23, 2026