CRAVIA Inc.
6573・Growth Market・Services
Business
CRAVIA, Inc. (formerly Agile Media Network; company name changed in January 2026) upholds the vision of "accelerating the things people love around the world," and its core business is the Ambassador Business, which organizes fans of corporate brands as "ambassadors" and supports promotion and purchase encouragement through SNS word-of-mouth. With nine consolidated subsidiaries, the company is rapidly expanding its business domains to include Manufacturing & Sales of hyperbaric oxygen equipment, EC Mall Retail Sales of colored contact lenses and CDs/DVDs, a Reuse Business (purchase and sale of precious metals and branded goods) launched in October 2025, and Travel Business and M&A Advisory. Its main customers are BtoB companies in the Ambassador Business and general consumers in Retail. Listed on the Growth Market of the Tokyo Stock Exchange.
Business Model
In the Ambassador Business, revenue sources are program operation outsourcing fees, consulting fees, and influencer marketing performance-based fees from client companies. In Retail, the company earns sales revenue from colored contact lenses, CDs/DVDs, etc. through stores opened on EC malls (Rakuten, Amazon, etc.), and margin from purchasing and selling at 3 reuse stores that opened in October 2025. In Manufacturing & Sales, revenue comes from sales and rental fees for hyperbaric oxygen equipment. The structure aims to diversify revenue sources through M&A and franchise agreements, and to achieve growth through group synergies.
Company Strengths
The company began offering its Ambassador Program in 2013 and renovated its core system, the Ambassador Platform, in 2016. It has accumulated over 10 years of proprietary technology and operational know-how for quantitatively analyzing fans' SNS posting influence and word-of-mouth contribution. It has the ability to make composite proposals covering Influencer Marketing and TikTok Shop utilization, among others.
The Retail segment posted net sales of ¥271 million (up 132.8% year on year) and segment profit of ¥6 million in the fiscal year ended December 2025, making it the only profitable segment in the group. This was driven by an increase in transaction volume from year-round EC site operations, the launch of new products such as "Winkuu" produced by Yuki Kashiwagi, and the Reuse Business launched in October 2025.
Since 2024, the company has successively made subsidiaries of, or established, Glory, Impress Travel, BEBOP, Tsujimoto, Cadre, Global M&A Partners, and others. It launched the Reuse Business in October 2025, and in February 2026 concluded a franchise agreement with Art Box, significantly expanding its business domain in a short period of time.
ENVALITH's Perspective
Performance Trend
Revenue for Q1 (Jan–Mar) of FY2026 (ending December 2026) accelerated to ¥170 million (+46.9% YoY). The main driver was the Reuse Business within Retail, which posted ¥115 million, up 236.8% YoY. Operating loss improved to ¥61 million from ¥68 million in the same period of the prior year. However, ordinary loss worsened to ¥77 million (versus ¥75 million in the same period of the prior year), weighed down by non-operating expenses including a ¥10 million loss on sale of crypto assets and ¥4 million in share issuance costs. Since the same period of the prior year included a ¥42 million extraordinary gain from a settlement, net loss attributable to owners of the parent widened to ¥77 million (versus ¥44 million in the same period of the prior year). Looking at the financial trend over the past five fiscal periods, revenue bottomed out at ¥289 million in FY2023 and has been on a recovery trend since (¥546 million in FY2025 → full-year forecast of ¥703 million for FY2026), but operating profit has remained in the red consistently since FY2021. The full-year earnings forecast (revenue of ¥703 million, operating loss of ¥221 million) remains unchanged.
Growth Strategy
Aiming for profitability through synergy maximization across diversified businesses built on fan-marketing know-how and continued M&A
The precious metals and luxury brand reuse stores operated by BTC Link Inc. began contributing in earnest from 1Q FY2026, turning the retail segment profitable. The company will continue to nurture it as the group's sole profit pillar through a combined EC site and physical store rollout.
Based on the master sales agency agreement signed with Norikongan Japan Inc. on May 7, 2026, the company aims to install 500 vending machines in the first year. Rollout will focus on amusement facilities, movie theaters, and large commercial complexes, targeting three layers of revenue: equipment sales, recurring photo card revenue, and franchise development. Initial investment of approximately ¥30 million is expected to be funded from proceeds of Bitcoin sales.
Working capital is being secured through promotion of exercise of the 14th and 15th series stock acquisition rights and issuance and management of the 3rd and 4th series unsecured bonds. As of the end of 1Q FY2026, ¥108 million in new share subscription deposits had been recorded, and fundraising through third-party allotment capital increase is underway. However, capital fragility continues to be a cause of the going concern doubt.
The company aims to strengthen its client proposal capabilities through composite proposals combining SNS account operation, influencer utilization, and TikTok Shop utilization, in order to recover order volume, which declined 23.3% year-on-year in the same period of the previous year. Service expansion through collaboration with group subsidiaries (BEBOP, AGILE ENJIN, etc.) is also being promoted.
Global M&A Partners continues to build up cross-border M&A advisory deals, and the company continues to invest in new areas such as travel, entertainment, and consumer goods. Under a plan of continued losses through FY2028 (ending December 2028), securing new revenue sources through diversification is positioned as the sole path to profitability.
Last updated: July 17, 2026