AlphaPurchase Corporation
7115・Standard Market・Wholesale Trade
Business
Alpha Purchase Co., Ltd. is a procurement support company built on two core pillars: the MRO Business and the FM Business. In the MRO Business, the company supports procurement DX for indirect materials (tools, consumables, stationery, etc.) targeting entire large corporate groups—primarily listed companies—including their subsidiaries and affiliated companies, through the electronic procurement system "APMRO" and the electronic catalog "Mugen Catalog". In the FM Business, the company provides building materials and facility maintenance management for chain stores such as convenience stores, drugstores, and hotels. The company listed on the Standard Market of the Tokyo Stock Exchange in December 2022. ASKUL Corporation is a major shareholder. Consolidated net sales were ¥58,922 million (FY2025, ending December 2025).
Business Model
In the MRO Business, the company connects customers and suppliers via an IT system, with its main revenue source being the gross margin from purchasing and reselling goods. Product distribution is basically shipped directly from suppliers, which reduces inventory risk. The company also collects system usage fees and connection fees, but their revenue contribution is small. In the FM Business, the company undertakes management operations outsourced from chain store headquarters and provides building materials and facility maintenance services through a nationwide network. Interest-bearing debt stands at ¥3 million, meaning the company is virtually debt-free, and working capital is covered by its own funds.
Company Strengths
For FY2025 (ending December 2025), operating profit was ¥1,468 million (up 18.2% year on year) and ordinary profit was ¥1,483 million (up 20.8% year on year), marking the 11th consecutive period of increase in both operating profit and ordinary profit. Net sales also expanded over 33% over four years, from ¥44,383 million in FY2022 to ¥58,922 million in FY2025, demonstrating a track record of sustained growth.
Following the introduction of the automatic replacement recommendation function for MRO purchase-selectable items at the end of FY2024, segment profit in the MRO Business for FY2025 (ending December 2025) increased significantly to ¥1,186 million (up 54.2% year on year). Even with sales growth remaining in the single digits, gross profit amount expanded due to improved gross margin, demonstrating the profit contribution of the IT platform.
As of the end of FY2025 (ending December 2025), interest-bearing debt stood at ¥3 million, maintaining a virtually debt-free management structure. Cash and deposits were ample at ¥5,367 million, and the equity ratio improved to 34.0% (up from 33.0% in the previous period). The company has a financial foundation capable of funding software development investment (¥884 million in the current period) from its own funds.
ENVALITH's Perspective
Performance Trend
From FY2022 to FY2025, revenue grew from ¥44,383 million to ¥58,922 million (4-period CAGR of approximately 7.4%), while operating profit rose from ¥1,042 million to ¥1,469 million, achieving four consecutive periods of revenue and profit growth. In Q1 of FY2026 (ending December 2026), revenue was ¥15,313 million (up 6.2% year on year), operating profit was ¥416 million (up 6.9%), ordinary profit was ¥420 million (up 7.5%), and quarterly net income attributable to owners of the parent was ¥287 million (up 3.0%). Externally, rising prices and labor costs and resource price fluctuations stemming from the Middle East situation continue, but the impact of the ransomware attack on Askul had largely been resolved as of March. Profit growth in the MRO Business offset the profit decline in the FM Business, and the company as a whole maintained an upward profit trend.
Growth Strategy
Aiming for sustained growth through three pillars: deepening relationships with existing customers, enhancing the Mugen Catalog features, and improving FM Business profitability
The company aims to achieve profit growth exceeding revenue growth by expanding deployment to subsidiaries and affiliated companies within approximately 80 existing large enterprise groups and deepening the use of the automatic replacement recommendation function of "Mugen Catalog." In the first quarter of FY2026 (ending December 2026), MRO Business segment profit increased 18.8% year on year, confirming results, and the company aims for further acceleration through sales expansion measures in the second half.
The company aims to transition to a profit structure in which revenue growth directly translates into profit through improvement of the product/service mix and strengthened fixed cost management. In the first quarter of FY2026 (ending December 2026), segment profit declined significantly by 49.1% year on year, making it urgent to recover the gross margin while leveraging the external tailwind of inbound demand.
Sales to small and medium-sized business establishments in the MRO Business, which suffered significant negative impact in the latter half of last year due to the ransomware attack on ASKUL that occurred in October of last year, had almost recovered to pre-attack levels as of March 2026. The company aims to return to a stable growth trajectory for the small and medium-sized business segment by leveraging ASKUL's sales channels.
The company continues in-house development and functional expansion of IT systems for the MRO Business, centered on ATC Corporation. In the first quarter of FY2026 (ending December 2026), cash flow from investing activities included expenditures of ¥233 million for acquisition of intangible fixed assets (versus ¥222 million in the same period of the previous year), maintaining the investment level. The balance of software in progress stood at ¥771 million, with assets under development accumulating, and competitiveness is expected to be strengthened through future feature releases.
Last updated: July 17, 2026