Bestone.Com Co.,Ltd
6577・Growth Market・Services
Business
Best One Dot Com, Inc. is an online travel company established in 2005. In its core Travel Business segment, the company, together with its subsidiary Five Star Cruise, sells overseas and domestic cruise tickets and package tours, operating "Bestone Cruise," one of Japan's largest cruise reservation websites, which has contracts with 98 shipping companies and lists approximately 58,000 courses. The customer base spans a wide range of generations, centered on younger and middle-aged customers (56.4% are in their 50s or younger). As part of Other Business (Lodging), subsidiary Ebisu Ryokan operates a 9-room accommodation-focused hotel in front of Kyoto Station, catering mainly to inbound travelers. The company keeps fixed costs low through an internet-completed business model without physical stores, and is also diversifying into bus tours, domestic tours, dynamic packages, and other offerings.
Business Model
The company limits its sales channel to the internet, eliminating store operation costs. Through contracts with 98 cruise lines and API integration with 12 companies (9,063 courses), real-time vacancy and pricing information is automatically listed. While primarily handling arranged travel (cruise ticket sales), the company also develops its own package tours and Charter Cruise (Proprietary Product). It has internalized WEB marketing to reduce advertising agency fees. Other Business (Lodging) (Ebisu Ryokan) operates a small 9-room hotel, generating stable profits.
Company Strengths
The company has contracts with 98 shipping companies, offering a total of approximately 58,000 listed courses (as of October 2025). Of these, 9,063 courses are automatically listed via API integration, with real-time integration established with 12 companies including MSC Cruises and Royal Caribbean. The sheer number of courses is the greatest differentiating factor versus competitors.
WEB marketing operations including website construction, SEO, listing advertisements, display advertisements, and SNS are completed entirely in-house without using advertising agencies. The company hires engineers internally and continuously carries out API integration with shipping companies and new feature development. Capital expenditure was ¥20,006 thousand (FY2025 (ended July 2025)), allocated to business systems and BtoC site development.
As a Type 1 Travel Agency registered with the Commissioner of the Japan Tourism Agency, the company sells its own planned travel products. In April 2023, it conducted its first Charter Cruise (Proprietary Product) (MSC Bellissima, departing/returning to Yokohama) as a joint operation, and in June 2024 and June 2025, it independently conducted Charter Cruise (Proprietary Product) using Costa Serena departing/returning to Kanazawa. An independent charter cruise is also already confirmed for Golden Week 2026.
ENVALITH's Perspective
Performance Trend
Revenue peaked at ¥3,137 million in FY2024 (ending July 2024), followed by a declining trend to ¥2,544 million in FY2025 (ending July 2025) and ¥1,443 million in the cumulative nine months of FY2026 (ending July 2026) (down 7.9% year on year). However, profitability has clearly improved, with gross profit increasing from ¥294 million in the same period of the previous year to ¥333 million, and losses at each stage narrowing. The full-year forecast for FY2026 (ending July 2026) projects revenue of ¥2,850–3,050 million and operating profit of ¥310–350 million, indicating a significant swing to profitability. As for external factors, price increases, exchange rate fluctuations, and geopolitical risks are creating uncertainty over the outlook for travel demand, while the global trend of expanding cruise passenger numbers serves as a medium- to long-term tailwind.
Growth Strategy
Achieve full-year profitability turnaround through the buildup of advance cruise bookings and profitability improvement
Strengthening advance bookings for products such as the Golden Week departure Costa Serena Kanazawa round-trip charter cruise. Contract liabilities as of the end of April 2026 stood at ¥1,580 million, an increase of ¥913 million from the previous fiscal year-end, reflecting a buildup of order backlog toward revenue recognition in the fourth quarter.
Through a focus on highly profitable projects and strengthened negotiation of procurement terms, the cumulative gross profit margin for the third quarter of FY2026 (ending March 2026) improved to 23.1% (18.8% in the same period of the previous year). Profit structure improvements are progressing toward achieving the full-year operating profit forecast of ¥310–350 million.
Continuing upfront investment in advertising, cumulative SG&A expenses for the third quarter increased to ¥368 million (¥334 million in the same period of the previous year). While this is a cost-increasing factor in the short term, the policy is to build a foundation for mid- to long-term sales growth through steady expansion of the customer acquisition base.
At the subsidiary Ebisu Ryokan (Kyoto Station), ADR and occupancy rates have trended as expected, recording a cumulative segment profit of ¥7 million for the third quarter. Against the backdrop of continued inbound demand, it functions as an independent revenue source that partially offsets losses in the Travel Business.
Last updated: July 17, 2026