Birdman Inc.
7063・Growth Market・Services
MX Business (Marketing Transformation Business)
Core business providing one-stop marketing solutions to enhance brand value
| Period | Current | Previous | Change |
|---|---|---|---|
| Net sales (cumulative Q3, FY2026 (ending June 2026)) | ¥243 million | ¥223 million (cumulative Q3, FY2025 (ended June 2025)) | ↑ |
| Segment profit/loss (cumulative Q3, FY2026 (ending June 2026)) | -¥76 million | -¥23 million (cumulative Q3, FY2025 (ended June 2025)) | ↓ |
| Net sales (full year, FY2025 (ended June 2025)) | ¥315 million | — | — |
| Segment profit/loss (full year, FY2025 (ended June 2025)) | -¥41 million | — | — |
Business Details
With the aim of improving client companies' brand value and the recognition and purchase intent of their products and services, this business provides consulting, advertising, PR, creative, and digital marketing services on a one-stop basis through in-house production. It eliminates the siloed structure of consulting, advertising, and PR firms to create speed of response and cost advantages. In March 2026, the company entered into a business alliance with MoldBreaking and is currently expanding its business domain by combining this with live commerce solutions. Note that from the second quarter, the segment name was changed from the former "MX Business" to "MS Business" (no substantive change).
Recent Overview
Net sales increased 8.9% year-on-year, but segment loss widened and profitability deteriorated
MS Business net sales for the cumulative nine months of FY2026 (ending June 2026) (July 2025 to March 2026) were ¥243 million (up 8.9% year-on-year), only a slight increase. The main cause was that order intake significantly fell short of initial expectations due to the time required to formulate a new business plan. Meanwhile, the segment loss expanded significantly to ¥76 million from ¥23 million in the same period of the prior year. In March 2026, the company concluded a business alliance with MoldBreaking in the live commerce domain, and launched the new business on April 1, 2026. The full-year earnings forecast has been revised to net sales of ¥369 million (up 15.7% year-on-year).
Key Products
Growth Drivers
- Business expansion into the live commerce (TikTok Shop) domain and creation of new revenue opportunities through the business alliance with MoldBreaking
- Full-scale resumption of order-taking activities as progress is made in securing business funds through the exercise of stock acquisition rights
- Securing gross profit through improved project profit margins and thorough utilization management of creators
- Differentiation through entertainment-embedded proposals leveraging synergies with the EX Business (livestreamer management/TikTok LIVE)
- Recovery of trust and order intake through the strengthening of the management structure in September 2025 (13th Annual General Meeting of Shareholders)
- Transition to a multi-layered strategic business portfolio based on the five-year medium-term management plan
Risks
- A structural vulnerability whereby delays in raising business funds directly affect the number of orders received (dependent on progress in the exercise of stock acquisition rights)
- Material uncertainty regarding the going concern assumption (continued recording of operating loss, ordinary loss, and net loss; the auditor has also noted material uncertainty)
- Operational risk whereby delays in formulating new business plans directly affect order results
- New businesses such as live commerce are in the early launch stage, and the timing and scale of their contribution to earnings are uncertain
- Customer concentration risk (in the past, the top two customers accounted for approximately 40% of net sales)
- Risk of erosion of personnel and capabilities due to mass employee turnover
Last updated: September 29, 2025