PLAT'HOME CO.,LTD.
6836・Standard Market・Electric Appliances
PLAT'HOME CO.,LTD. (Single Segment)
A network equipment and Web3 company operating in two segments centered on IoT and network technology
| Period | Current | Previous | Change |
|---|---|---|---|
| Net sales (consolidated) | ¥1,298 million | ¥1,167 million (non-consolidated, prior period) | ↑ |
| Operating profit (consolidated) | ¥12 million | -¥46 million (non-consolidated, prior period) | ↑ |
| Ordinary profit (consolidated) | ¥26 million | ¥14 million (non-consolidated, prior period) | ↑ |
| Profit attributable to owners of parent (consolidated) | ¥22 million | ¥12 million (non-consolidated, prior period) | ↑ |
| Total assets (consolidated) | ¥862 million | ¥725 million (non-consolidated, prior period) | ↑ |
| Net assets (consolidated) | ¥445 million | ¥416 million (non-consolidated, prior period) | ↑ |
| Equity ratio (consolidated) | 50.8% | 57.3% (non-consolidated, prior period) | ↓ |
| Cash flow from operating activities (consolidated) | -¥140 million | - | ↓ |
| Cash and cash equivalents at end of period (consolidated) | ¥212 million | ¥355 million (beginning of period) | ↓ |
| Network Business net sales | ¥1,264 million | - | — |
| Network Business segment profit | ¥260 million | - | — |
| Web3 Business net sales | ¥34 million | - | — |
| Web3 Business segment loss | -¥41 million | - | — |
| Earnings per share (consolidated) | ¥4.77 | ¥2.55 (non-consolidated, prior period, adjusted for stock split) | ↑ |
Business Details
From FY2026 (ending March 2026), the company prepared consolidated financial statements for the first time, changing from the previous single-segment structure to two segments: "Network Business" and "Web3 Business." The Network Business provides development, manufacturing, sales, and related services for Network Appliance EasyBlocks, Micro Server, and IoT Gateway. The Web3 Business develops non-financial RWA tokenization and related services utilizing the proprietary ThingsToken technology. In July 2025, the company established a subsidiary, Things Revolution Co., Ltd., and is currently accelerating the full-scale development of the Web3 Business.
Recent Overview
Turned to operating profit in the first consolidated results, though operating cash flow was negative ¥140 million due to inventory buildup
From FY2026 (ending March 2026), the company prepared consolidated financial statements for the first time (consolidating the subsidiary Things Revolution Co., Ltd.). Increased sales of Network Appliance and Micro Server led to net sales of ¥1,298 million and operating profit of ¥12 million, marking a turnaround to operating profit. On the other hand, inventory buildup in anticipation of rising raw material prices (inventory increase of ¥215 million) resulted in operating cash flow of -¥140 million, and there is a stated condition raising material doubt about the company's ability to continue as a going concern (however, it was determined that there is no material uncertainty given the absence of borrowings and cash holdings of ¥212 million). A subsidy of ¥15 million from the Ministry of Agriculture, Forestry and Fisheries was recorded as non-operating income. For FY2027 (ending March 2027), the company forecasts net sales of ¥1,570 million, operating profit of ¥60 million, ordinary profit of ¥55 million, and net profit of ¥50 million.
Key Products
Growth Drivers
- Continued increase in sales of Network Appliance EasyBlocks and Micro Server (Network Business recorded net sales of ¥1,264 million and segment profit of ¥260 million)
- Market penetration of IoT and network products driven by expanding DX and AI demand (through exhibitions, online seminars, and enhanced online advertising)
- Accumulation of stock service revenue through accelerated business transformation from hardware-type to software/service-type offerings
- Promotion of Web3 Business commercialization: expanding application to large-scale logistics systems and other areas leveraging results from the Ministry of Agriculture, Forestry and Fisheries demonstration project (Web3 Business net sales forecast at ¥130 million for FY2027, a 272.2% increase year-on-year)
- Full-scale development of the Web3 Business and promotion of alliance strategy through Things Revolution Co., Ltd.
- Expansion of the business foundation through technology demonstrations with major companies such as Hitachi, Ltd. and SKY Perfect JSAT
Risks
- Recorded significant negative operating cash flow (-¥140 million) due to inventory buildup in anticipation of rising raw material prices, giving rise to a situation raising material doubt about the company's ability to continue as a going concern (determined to have no material uncertainty due to absence of borrowings and cash holdings of ¥212 million)
- The Web3 Business is in an initial investment phase, having recorded a segment loss of ¥41 million, with the timing of commercialization and profitability remaining unclear
- Risk of supply-demand fluctuations and price increases in materials such as semiconductors (tight supply of general-purpose semiconductors has emerged due to rapid expansion of data center investment driven by AI demand)
- Risk of raw material price increases and deterioration of the economic environment due to geopolitical risks such as U.S. tariff policy and Middle East affairs (not factored into earnings forecasts, as the direct impact is considered limited)
- Risk that increases in selling, general and administrative expenses (due to workforce expansion, active advertising-related spending, and continued Web3 R&D investment) will pressure profits
- Forecast for FY2027 (ending March 2027) anticipates further increases in selling, general and administrative expenses, creating downside risk to profit if sales targets are not achieved
Last updated: June 25, 2026