Interworks Confidence Inc.
7374・Growth Market・Services
Business
Confidence Interworks Co., Ltd. is an HR services company specializing in the gaming and entertainment industry, established in 2014. Its core "HR Solutions Business: Staffing & Outsourcing" provides creator staffing and debugging outsourcing services to game companies, with a headcount of 1,072 as of the end of FY2026 (ending March 2026). The "HR Solutions Business: Recruitment Placement" segment provides employment placement services for upper-middle-level talent in manufacturing, IT, gaming, and other industries, while the "Media & Solutions Business" operates "Kojo Works," a recruitment media platform specialized in manufacturing and factory-related job listings. In February 2024, the company absorbed and merged with Interworks Inc. and changed to its current company name, expanding its business domains into video production, web, and AI/Web3 fields through M&A. Its main clients are major and mid-tier gaming companies as well as manufacturing companies.
Business Model
The revenue base has a three-layer structure. Staffing & Outsourcing generates stock-type recurring revenue linked to the number of active creators on assignment (revenue of ¥6,938 million, profit margin of 17.3%). Recruitment Placement operates a success-fee-based, high-margin model with a gross margin of 79.6% (revenue of ¥1,482 million). The job-listing media "Kojo Works" operates on a pay-per-listing advertising model with a gross margin of 82.3% (revenue of ¥1,563 million). Through subsidiaries acquired via M&A, the company is diversifying its revenue sources into Freelance Matching, video production outsourcing, and AI/Web3 recruitment placement.
Company Strengths
Specializing in the gaming and entertainment industry since its founding in 2014, the company has built a staffing and outsourcing base with 1,072 active staff as of the end of FY2026 (ending March 2026). Through initiatives such as hosting industry-focused events and launching its own recruitment media, it has diversified its hiring channels, giving it industry-specific know-how and a staffing supply system that competitors find difficult to replicate in a short period.
The company has successively made subsidiaries of Let's-I (Web-related occupations in the Kansai region), BRAISE / G's Corporation (video production), and Protagonist (AI/Web3 recruitment placement). In FY2026 (ending March 2026), it expanded HR Solutions Business: Staffing & Outsourcing revenue by 29.9% year on year to ¥6,938 million, demonstrating a track record of strategically acquiring time and business domains through M&A.
The Recruitment Placement segment maintains a gross profit margin of 79.6%, while the Media & Solutions Business maintains a gross profit margin of 82.3%, with both segments sustaining extremely high gross margins. In FY2026 (ending March 2026), their respective segment profit margins were 33.8% and 34.7%, forming a stable, highly profitable base that complements fluctuations in earnings from the core HR Solutions Business: Staffing & Outsourcing segment.
ENVALITH's Perspective
Performance Trend
Revenue grew for five consecutive periods, from ¥4,425 million in FY2022 (ended March 2022) to ¥9,970 million in FY2026 (ending March 2026). However, the revenue growth in FY2026 (up 18.8% year on year) was primarily driven by the consolidation effect of newly added entities such as BRAISE / G's Corporation; on a standalone basis, revenue declined 6.7% year on year, indicating a contraction in existing businesses. Operating profit was ¥1,284 million (down 1.4% year on year), and net income attributable to owners of parent was ¥800 million (down 23.0% year on year), marking a shift to declining profit. The sharp rise in net income in the prior period (up 43.2% year on year) was a one-time effect from a reduced tax burden associated with the transfer of a subsidiary's shares, and the disappearance of this effect was the main cause of the sharp decline in net income this period. As an external factor, the contraction of the domestic mobile game market (96.2% of the previous year's level) and the weak performance of many developers directly impacted demand for the core staffing business. A sharp increase in corporate income taxes, from ¥257 million in the prior period to ¥465 million, also weighed heavily on net income.
Growth Strategy
Aiming to become a collective of category No.1 leaders in industry-specialized niches, the company is pursuing M&A, expansion into adjacent business areas, and geographic expansion.
In April 2025, the Creator-Specialized Staffing Service provider Let's-I Inc. was made a consolidated subsidiary, followed in July 2025 by BRAISE Inc. and G's Corporation, both operating in the TV program production industry. This enabled entry into the video production industry and expanded the customer base in the Kansai region, resulting in outsourcing and other revenue expanding to approximately 4.5 times the previous fiscal year.
The company is entering the freelance matching market primarily through Confidence Pro Inc., promoting diversification of contract formats in addition to staffing dispatch. This aims to diversify risk against demand fluctuations in the gaming and entertainment industry and expand revenue sources.
The company is working to improve productivity by using AI to expand the number of job proposals presented to each registered candidate. Subsidiary Protagonist Inc. achieved a turnaround to profitability in the AI, Web3, and deep tech domains, contributing to group earnings. However, on a business-wide basis, the number of placements fell below the previous year due to a decrease in the number of consultants.
Kojo Works is providing integrated support ranging from job introductions matching desired conditions to interview preparation and application document assistance. Through SNS-based customer acquisition promotion and the introduction of communication tools, the company is working to expand touchpoints with job seekers and improve LTV. In FY2026 (ending March 2026), results were flat year-on-year, but the profit margin was maintained at 34.7%.
The company forecasts revenue of ¥11,500 million (up 15.3% year-on-year), operating profit of ¥1,460 million (up 13.6%), and net income attributable to owners of parent of ¥935 million (up 16.9%). Achieving this is premised on a recovery in the number of creator placements in the existing staffing dispatch business and the full-scale contribution of newly consolidated subsidiaries. Cumulative results for the second quarter showed revenue of ¥5,310 million and operating profit of ¥545 million (down 19.5% year-on-year), with a profit decline expected for the first half.
Last updated: July 19, 2026