ENVALITH
株式会社みらいワークス logo

Mirai Works Inc.

6563・Growth Market・Services

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株式会社みらいワークス logo
Mirai Works Inc.6563

Business

Mirai Works Inc., founded in 2012 under the mission of "increasing the number of people who take on challenges for the future of Japan," is a professional human resources platform company. In its core Professional Human Resources Business, it supplies highly skilled specialists (consultants, DX professionals, etc.) with monthly unit prices of ¥1 million to ¥2 million to client companies through outsourcing and dispatch arrangements. Its main clients are major corporations (with sales of ¥300 billion or more) across diverse industries such as finance, healthcare, manufacturing, and information and communications, and it supports DX promotion and the resolution of management issues. In addition to this, the company operates the Regional Revitalization Business (side-job and career-change matching) and the Solutions Business (reskilling, open innovation support, etc.) as its "three pillars." It draws its competitive advantage from a registered talent database of over 92,000 professionals and a client network of more than 8,400 companies. The company is listed on the Tokyo Stock Exchange Growth Market.

Business Model

The company enters into outsourcing or staffing agreements with client companies and earns gross profit by subcontracting or dispatching registered professional personnel under fixed-term employment. Gross profit for FY2025 (ended September 2025) was ¥2,841 million (gross margin of approximately 25.5%). Gross profit per contract was ¥244 thousand. The regional revitalization business generates revenue from job postings and advertising on its web platform, while the solutions business earns consulting revenue on an outsourcing basis. The Professional Human Resources Business accounts for over 90% of total revenue.

Company Strengths

As of the end of September 2025, the number of registered professional human resources exceeded 92,000. The database, which specializes in highly specialized professionals such as consultants and DX talent, forms the foundation of the company's project matching capability and serves as a key differentiator from competitors. The number of registrations has increased steadily, and the number of companies that have secured projects has reached over 8,400.

Transactions with major enterprises with sales of ¥300 billion or more accounted for 69.2% of net sales (for the fiscal period ended September 2025), with 89 client companies. Major enterprises have significant needs for utilizing external professional human resources, leaving substantial room to expand sales per company through cross-selling. Sales from major enterprises, the number of client companies, and sales per company are managed as key KPIs.

The company has established the "Four Sacred Treasures": Mira PDCA (continuous improvement), Mirapedia (know-how accumulation), Mira Force (information infrastructure visualization), and Mira Campus (sales-oriented training). By systematizing personalized/individual-dependent operations and leveraging AI to streamline the sales process, the company aims to improve productivity per sales employee.

ENVALITH's Perspective

In the first half of FY2026 (ending March 2026), revenue of ¥5,846 million (+2.2% YoY) and operating profit of ¥253 million (+2.0% YoY) represented increases in both revenue and profit, but the growth rate slowed significantly from the same period last year (revenue +12.2%, operating profit +3.8%). Progress against the full-year forecast (revenue of ¥13,000 million, operating profit of ¥600 million) reached only 45.0% for revenue and 42.2% for operating profit at the interim stage, meaning the second half (April 2026 to September 2026) would need to generate revenue of ¥7,154 million and operating profit of ¥347 million. The focus is on the feasibility of such a rapid H2 acceleration scenario.

Net profit attributable to owners of the parent for the first half was ¥175 million (+13.6% YoY), significantly outpacing the growth in operating profit (+2.0%). This was mainly due to a temporary boost from the corporate tax adjustment, which shifted from an expense of ¥5,022 thousand in the same period last year to income of ¥25,586 thousand. The operating profit margin remained flat at 4.3% (versus 4.3% in the same period last year), indicating no structural improvement in profitability. On the external front, expanding demand for external professional human resources amid accelerating DX promotion and social implementation of generative AI is a tailwind, but an increase in SG&A expenses (¥1,292 million, +7.3% YoY) is constraining margin improvement.

Operating cash flow turned positive at ¥123,828 thousand for the first half (versus negative ¥133,602 thousand in the same period last year). This was mainly due to the absence of the acquisition of subsidiary shares (¥149,777 thousand) and the large corporate tax payment (¥126,263 thousand) that occurred in the same period last year. On the other hand, accounts receivable and contract assets increased by ¥240,949 thousand from the end of the previous fiscal year, reflecting continued expansion of working capital in line with revenue growth. Both investing and financing cash flows were zero, indicating the company focused on building up retained earnings during the first half. The equity ratio improved to 43.4% (from 42.1% at the end of the previous fiscal year).

Growth Strategy

Aiming for net sales of ¥13,000 million and operating income of ¥600 million through deepening large-enterprise relationships, AI utilization, and collaboration across the three businesses

Continuously expanding the number of registered professionals, surpassing 96,000 as of the end of March 2026. Aim to expand gross profit through improved matching precision and maintaining/improving the number of contracts (862) and gross profit per contract (¥246 thousand).

While maintaining the number of large-enterprise transactions at 79 companies, promote expansion of transaction scale per company and cross-selling between the Professional Human Resources Business and the Solutions Business. Aim to expand a stable revenue base and improve profit margins.

Through deeper utilization of MiraPDCA, MiraPedia, MiraForce, and MiraCampus, improve productivity per direct sales staff member. Aim to expand gross profit while restraining the increase in selling, general and administrative expenses, thereby improving the operating margin.

Expand the regional revitalization business, which leverages a collaborative network with 126 financial institutions nationwide, 4 ministries/agencies, 31 prefectures, and 104 cities/wards/towns/villages, as well as the solutions business covering reskilling, open innovation, and sustainability support, aiming to improve the gross profit margin and stabilize earnings.

Last updated: July 17, 2026