adish Co., Ltd.
7093・Growth Market・Services
Business
Adish Inc. operates under the mission "Turning Connections into Joy Always," providing BPO services to solve customer relations challenges for internet-related companies, primarily startups. Its core "Growth Support Service" offers end-to-end support from customer success consulting to operational resource provision, while its "Adoption Support Service" supports the realization of a healthy digital society through Internet Monitoring and anti-cyberbullying measures (School Guardian). Its client base ranges widely from startups to major companies with market capitalizations exceeding ¥100 billion, and it maintains a multilingual support system covering over 10 languages, including through its Philippine subsidiary. Listed on the Tokyo Stock Exchange Growth Market.
Business Model
The business is built on a revenue base of ongoing (stock-type) contracts with client companies, providing a combination of customer success design consulting, operational resource provision, Internet Monitoring, and other services. Net sales and ordinary income are treated as key KPIs, with increases in the number of contracts secured and suppression of the churn rate managed as key performance indicators. Net sales for FY2025 (ending March 2025) were ¥3,696 million, of which the major customer Stripe Japan, Inc. accounted for ¥516 million (14.0% of the total).
Company Strengths
Since its establishment in 2014, the company has specialized in supporting startups' customer success, building an end-to-end service spanning from consulting to the provision of operational resources. It conducts "Customer Success Prime Learning" for all employees, working to systematically improve service quality across the organization. Revenue from growth support services expanded from ¥2,394 million to ¥2,552 million.
In addition to multiple domestic locations including Sendai, Fukuoka, Sapporo, Nichinan (Miyazaki), and Kashima (Ibaraki), the company operates a Philippine subsidiary, adish International Corporation, enabling support in more than 10 languages. This provides a framework capable of meeting the global support needs of startup clients expanding overseas.
The company holds multiple in-house developed products, including the chatbot "hitobo," the AI-based defamatory post detection tool "matte," the SNS backlash countermeasure tool "Pazu," and the social listening AI tool "SignalHive." In August 2025, it began offering "AI-based Customer Support," which automates more than 80% of handled tasks, aiming to enhance productivity and add value in the BPO business.
ENVALITH's Perspective
Performance Trend
Revenue continued moderate growth, rising from ¥2,993 million in FY2021 to ¥3,696 million in FY2025. Operating profit recorded losses for two consecutive periods—¥(172) million in FY2023 and ¥(132) million in FY2024—before turning profitable with ¥2 million in FY2025. In Q1 of the fiscal year ending December 2026 (January–March 2026), revenue was ¥945 million (up 7.6% year on year) and operating profit was ¥10 million (versus ¥(18) million in the same quarter of the prior year), showing continued improvement. This was mainly driven by an improved gross profit margin and controlled SG&A expenses. Notably, despite subsidy income falling sharply from ¥16 million in the same quarter of the prior year to ¥1 million, the company maintained an operating profit, indicating improved profitability in its core business. The full-year forecast remains unchanged at revenue of ¥4,100 million (up 10.9% year on year) and operating profit of ¥70 million.
Growth Strategy
Aiming to become the top partner for SaaS-oriented Customer Success support through AI utilization, new service development, and human capital strategy
Against the backdrop of the full-scale social implementation of generative AI, the company is promoting the automation of 80% or more of support operations through AI-based customer support. It aims to provide high-value-added services while improving a cost structure centered on personnel expenses, targeting continuous improvement in gross profit margin.
With the domestic SaaS market expected to grow to a scale of ¥2 trillion by 2026, the company aims to capture DX demand following the establishment of the Electronic Bookkeeping Act and the invoice system, as well as new demand for AI-driven decision-making support and personalization, as a new growth engine. The target is net sales of ¥4,100 million for the full year of FY2026 (ending December 2026) (up 10.9% year on year).
As of May 2, 2026, a reduction in capital (from ¥99 million to ¥36 million) and a deficit offset (transfer of ¥22 million from other capital surplus to retained earnings) took effect. This has strengthened the financial soundness of the company and secured flexibility and agility in capital policy for future M&A and investment activities.
As of May 14, 2026, the company disposed of treasury shares totaling 26,880 shares (at ¥558 per share, totaling approximately ¥15 million) to 3 directors and 4 executive officers. This promotes the granting of incentives aimed at the sustained enhancement of corporate value and the sharing of value with shareholders.
Last updated: July 17, 2026