Human Creation Holdings, Inc.
7361・Growth Market・Services
Business
Human Creation Holdings Co., Ltd. is an independent IT services group composed of the company, a pure holding company, and 7 consolidated subsidiaries (8 companies in total). Building on its core Engineer Dispatch (SES) business, the group covers the entire process from upstream system development to maintenance and operations, including System Consulting, Contract Development, ERP implementation, AI Solutions, BPO, and M&A brokerage. Its main clients are major SI vendors and manufacturers, and it serves a wide range of industries including finance, manufacturing, distribution, energy, public sector, and telecommunications. The company listed on the TSE Growth Market in March 2021 and continues to pursue inorganic growth through M&A.
Business Model
The core of revenue is Engineer Dispatch (SES) based on dispatch contracts with client companies, underpinned by stable monthly revenue supported by 773 engineers on staff, a utilization rate of 98.6%, and an average contract unit price of ¥667 thousand per month (FY2025, ending September 2025). In addition, the "Strategic Domain" — comprising Consulting & Contract Development, M&A brokerage, and similar services (net sales of ¥3,642 million, up 66.3% year on year) — is expanding as a source of high-value-added revenue. The structure aims to expand the business domain through the addition of subsidiaries via M&A, and to improve unit prices and profitability through a virtuous cycle of talent development and project participation within the group.
Company Strengths
Through 7 subsidiaries, the company can handle the entire process from consulting (upstream) to maintenance and operations (downstream). As an independent player not dependent on a specific parent company or industry, it has built a system capable of serving a wide range of clients and projects. Engineers can be flexibly assigned across 6 locations nationwide (Sapporo, Sendai, Tokyo, Nagoya, Osaka, and Fukuoka).
The utilization rate has remained at a high level, maintaining 97.7% in FY2021 (ending September 2021) to 98.6% in FY2025 (ending September 2025). The average contract unit price rose for 5 consecutive fiscal periods, from ¥570 thousand per month in FY2021 (ending September 2021) to ¥667 thousand per month in FY2025 (ending September 2025), an increase of 17.0% over the period. Improvements in the business flow, enhanced technical capabilities, and a shift toward upstream processes have contributed to the improvement in unit prices.
Revenue from strategic areas such as Consulting & Contract Development expanded approximately 3.5-fold, from ¥1,042 million in FY2021 (ending September 2021) to ¥3,642 million in FY2025 (ending September 2025). Following the consolidation of TARA (AI Solutions) in February 2024 and HC Financial Advisers (M&A brokerage) in April 2025, the share of group revenue from this area rose to 39.2% (up from 30.6% in the previous fiscal period).
ENVALITH's Perspective
Performance Trend
Revenue grew for five consecutive periods, from ¥5,035 million in FY2021 to ¥8,946 million in FY2025. In the first half of FY2026 (ending September 2026), revenue continued to grow, reaching ¥4,477 million (up 10.0% year on year), but the growth rate decelerated from 19.1% in the same period of the prior year. On the profitability side, selling, general and administrative expenses increased by ¥258 million year on year, causing operating profit to fall sharply to ¥120 million (down 68.2% year on year) and interim net profit attributable to owners of the parent to plunge to ¥17 million (down 90.2% year on year). EBITDA also roughly halved, from ¥444 million to ¥232 million. While external demand for DX remains solid, a loss in the Management Consulting Service segment (¥148 million) resulting from the consolidation of HC Financial Advisor, together with an increase in company-wide costs, is weighing on earnings. The full-year forecast remains unchanged, but the profit structure shows a pronounced skew toward the second half.
Growth Strategy
Aiming for non-linear growth toward FY2030 (ending September 2030) through the dual pillars of inorganic growth via M&A and organic growth via human capital management
Consolidated TARA as a subsidiary in February 2024 and HC Financial Advisers in April 2025. Under the new medium- to long-term management policy with FY2030 (ending September 2030) as the final year, the company plans to continue promoting M&A in high-value-added areas such as management consulting.
The Management Consulting segment, centered on HC Financial Advisers which was consolidated in April 2025, recorded net sales of ¥318 million and a segment loss of ¥148 million in the first half of FY2026 (ending September 2026). The business is in the cost-front-loaded startup phase, and achieving early profitability is a key challenge.
The company continues to develop human capital through raising average salaries, its proprietary e-learning programs, and study groups. It has a track record of maintaining engineer utilization rates and continuously improving dispatch unit prices (up 3.4% year on year), and is promoting a shift toward higher value-added operations through active investment in the Consulting & Contract Development area.
The company continues to invest in the Consulting & Contract Development area with the aim of improving technical capabilities. It seeks to maintain and improve utilization rates through improved transaction structures for projects, improved dispatch unit prices via enhanced engineer skills, and development of new customers.
Last updated: July 17, 2026