itsumo.inc.
7694・Growth Market・Retail Trade
Business
itsumo inc. operates under the mission of "Leading Japan's future through e-commerce," providing comprehensive EC business support, D2C, and EC platform operations for brands and manufacturers. Its main clients range from major to small and medium-sized brand and manufacturer companies, and it provides one-stop support across the entire EC value chain—from strategy planning to site operation, marketing, logistics, and customer service—across diverse channels including Amazon, Rakuten Ichiba, proprietary EC sites, and TikTok Shop. Services are organized into four categories: One Commerce Service (consulting and operational support), Collaborative Brand Partner Service (official EC agency and wholesale/retail), Co-creation & In-house Value-up Service (D2C for in-house and third-party brands), and EC Platform (live commerce, etc.). The company listed on the Tokyo Stock Exchange Mothers market (now the Growth market) in December 2020.
Business Model
The core revenue is built on two pillars. (1) In One Commerce Service, stock-type revenue based on contracts that are in principle 12 months long accounts for 92.9% of sales, forming a stable, accumulation-based revenue base. (2) In Collaborative Brand Partner Service, the company purchases products from brands and manufacturers and sells them directly to consumers via official EC sites under a wholesale-to-retail sales model, generating ¥13,091 million in sales in FY2026 (ending March 2026), roughly 73% of the total. By combining these two models, the company achieves both stability of fee income and scale expansion of wholesale-to-retail sales.
Company Strengths
The company has a system capable of independently providing all functions of the EC value chain, from strategy formulation, site construction, digital marketing, and creative production to logistics and customer support. It has accumulated support track records across a wide range of product categories including cosmetics, daily necessities, food, home appliances, and apparel, and its expertise in providing optimal EC strategies tailored to product characteristics serves as a differentiating factor from competitors.
The company has already obtained all three TikTok Japan partnerships: TSP (Merchant Support Partner), CAP (Creator Support Partner), and TAP (Affiliate Product Matching Partner). It has established a system capable of providing end-to-end support, from ad operations to store construction, fulfillment, and live commerce support, and has a track record of live commerce alone surpassing ¥10 billion in gross merchandise value.
In One Commerce Service, stock-type revenue based on contracts of principally 12 months accounted for 92.9% of net sales in FY2026 (ending March 2026). This accumulation-type revenue model based on continuing contracts secures a relatively stable revenue base against short-term market fluctuations. In FY2026 (ending March 2026), One Commerce Service net sales maintained growth at ¥3,165 million (up 14.2% year on year).
ENVALITH's Perspective
Performance Trend
Revenue over the past five fiscal periods trended as follows: ¥11,653 million → ¥12,310 million → ¥13,862 million → ¥13,941 million → ¥17,878 million. In FY2026 (ending March 2026), growth accelerated due to substantial expansion of new brands within the Collaborative Brand Partner Service. Operating profit showed significant volatility at ¥604 million → ¥314 million → ¥320 million → ¥74 million → ¥270 million, recovering from the sharp decline in FY2025 (ended March 2025) but still falling short of the FY2022 (ended March 2022) level. Net income turned positive, moving as follows: ¥361 million → -¥220 million → ¥259 million → -¥98 million → ¥158 million. As an external tailwind, the domestic EC (physical goods) market has continued to expand (from ¥15.3 trillion in 2025 to a projected ¥15.8 trillion in 2026). On the other hand, the increase in working capital accompanying rapid growth caused operating cash flow to deteriorate sharply to -¥1,555 million, and the cash balance declined to ¥928 million.
Growth Strategy
Aiming for sustainable growth by upgrading the earnings structure through iDM×AI and Comprehensive Social Commerce Support (TikTok Shop)
Positioning "iDM×AI"—a fusion of the company's proprietary support model "iDM" with generative AI—as the strategic core, the company is promoting the automation of routine tasks through AI agent implementation and shifting human resources toward high-value-added consulting. It aims to improve profitability by enhancing support accuracy and raising average unit prices.
The company has already obtained official partner certification across all three TikTok Shop categories. It has established an end-to-end system providing everything from advertising operations to store setup, fulfillment, and live commerce support, while strengthening collaboration with top-tier creators in Japan. By leveraging synergies with "Peace You LIVE," the company is establishing a growth chain model.
The company is horizontally deploying the operational know-how gained from its flagship brand, which achieved significant revenue growth in the current period, to other brands in order to accelerate growth of existing brands. It is focusing on acquiring carefully selected new brands and achieving early profitability for them, while thoroughly implementing demand forecasting and inventory optimization to build a highly profitable model that emphasizes capital efficiency.
The company is undertaking fundamental structural reform of its snow apparel subsidiary "Byland," prioritizing profitability improvement above all else. At the same time, it is promoting the expansion of sales channels for its natural cosmetics brand "KohGenDo" in the Chinese market, aiming to stabilize and diversify the group's overall earnings base.
Last updated: July 19, 2026