ART VIVANT CO.,LTD.
7523・Standard Market・Retail Trade
Business
Art Vivant Co., Ltd. is a comprehensive art company founded in 1984 and listed on the TSE Standard Market. In its core Art-Related Business, the company offers prints and paintings by contemporary artists through event sales held at hotels and event halls nationwide (In-House Planned Event Sales account for 78.2% of contract value) as well as through store sales. The sales price of its main products generally ranges from ¥500,000 to ¥1,100,000, and a subsidiary handles the Financial Services Business (Credit Business) targeting these high-value products. The company also operates the Health Industry Business, which runs the lava hot yoga studio "Amida" across 22 locations nationwide. The group consists of 4 consolidated subsidiaries and 2 non-consolidated subsidiaries, and it also has overseas procurement bases.
Business Model
A vertically integrated model in which the Art-Related Business sells prints and paintings through events and stores, while the subsidiary Double Lac underwrites the credit contracts used by most purchasing customers. The Financial Services Business posts an extremely high operating margin of 68.6%, reflecting a structure in which growth in art sales directly drives increases in credit transaction volume. Revenue is recognized on a shipment basis, and the contract balance (¥4,451 million at the end of FY2026 (ending March 2026)) serves as a leading indicator supporting revenue in subsequent periods.
Company Strengths
A pioneer in woodblock print sales, founded in 1984 and the first in the industry to achieve a stock listing in 1996. The company holds 845 events nationwide (FY2026 (ending March 2026)), centered on In-House Planned Event Sales, with a sales network spanning all regions from Hokkaido to Kyushu. Its long-established customer base and event operation know-how constitute a proprietary asset that competitors cannot easily replicate in a short period.
Subsidiary Double Lac handles the credit business for customers purchasing art, and the Financial Services Business achieved an operating margin of 68.6% (FY2026 (ending March 2026)). Through a vertically integrated model in which expansion of art sales directly drives growth in credit transaction volume, overall group profitability is being lifted.
Because revenue is recognized on a shipment basis, the contract balance at fiscal year-end directly represents the sales outlook for the following period. The Art-Related Business contract balance at the end of FY2026 (ending March 2026) rose sharply to ¥4,451 million (140.6% year on year), providing a numerically confirmed effect of supporting performance in the next period.
ENVALITH's Perspective
Performance Trend
Revenue over the past five fiscal periods trended as follows: FY2022 ¥10,254 million → FY2023 ¥10,725 million → FY2024 ¥11,006 million → FY2025 ¥10,731 million (a decline) → FY2026 ¥12,674 million, marking a new record high following the temporary dip in FY2025. The operating margin improved to 21.3% (from 19.7% in the prior period). The revenue increase in FY2026 was driven by the recording of ¥1,364 million in High-Value Art Sales and steady shipments of prints and similar items, while the profit increase was driven by reduced event-related expenses and a decrease in the amount of allowance for doubtful accounts recorded in the Financial Services Business. However, for FY2027, no High-Value Art Sales are anticipated, and both revenue and profit are forecast to decline (revenue of ¥12,000 million, operating profit of ¥2,400 million). Additional concerns include the impact of US tariff policy and rising prices on consumer sentiment as part of the external environment.
Growth Strategy
Growth driven by two pillars: new customer development and high-value product development in art exhibitions/sales events, and expansion of general merchant credit business
Continued event-based sales activities focused on acquiring new customers, while promoting the branding of represented artists and developing new artists. In FY2026 (ending March 2026), Art-Related Business sales reached ¥10,014 million (up 23.8% year on year) and operating profit reached ¥1,336 million (up 41.8% year on year), reflecting the effects of these initiatives in the numbers.
Continued sales efforts to expand the credit business not only to the company's own art customers but also to customers of general member merchants. In FY2026 (ending March 2026), Financial Services Business sales grew steadily to ¥1,735 million (up 5.8% year on year), with operating profit of ¥1,207 million (up 17.6% year on year); the policy of expansion will be maintained in FY2027 (ending March 2027) as well.
Improving the profit structure through the closure of unprofitable stores, while focusing on acquiring new members and preventing member withdrawals. In FY2026 (ending March 2026), sales continued to decline to ¥924 million (down 7.5% year on year), but operating profit improved to ¥92 million (up 4.8% year on year). A full-fledged recovery in membership numbers has not yet been achieved, and enhancing the appeal of stores and services remains a challenge.
Working to strengthen the management foundation, including human resources and organization, from a medium- to long-term perspective, while also challenging itself to create new revenue bases unconstrained by the past. No specific new businesses have been disclosed at this time, and continued monitoring of developments is necessary.
Last updated: July 19, 2026