Koukandekirukun, Inc.
7695・Growth Market・Retail Trade
Business
Koukandekirukun Co., Ltd. operates an e-commerce business that completes the entire process—from quotation to order placement and construction scheduling—online for housing equipment such as built-in dishwashers, gas stoves, toilets, water heaters, and air conditioners. The company specializes in equipment replacement rather than large-scale renovations, with its business concept centered on a "no-site-survey model" that eliminates the need for on-site inspections, combined with a transparent pricing structure. Its main customers are homeowners, and it ensures peace of mind regarding construction quality through a free 10-year warranty service on all products. The company operates its Housing Equipment DX Business and Solutions Business through a group of 7 companies, including consolidated subsidiaries, and recorded net sales of ¥12,601 million in FY2026 (ending March 2026).
Business Model
The company acquires new customers through organic inflow (SEO) to the "Koukandekirukun" website and paid advertising, completing quotes based solely on photos and input information without on-site surveys. Product costs and installation fees are presented as a single bundled price, supporting diverse payment methods including credit cards and installment payments. Installation work is handled by full-time employees and contracted partners, with a free 10-year warranty on all products to eliminate customer concerns. A growth cycle of content accumulation → increased inflow → increased quote requests forms the foundation of earnings.
Company Strengths
The company developed an in-house system that determines installation feasibility, required parts, and optional installation work based solely on photos and input information, completing quotations without individual site visits. This reduces sales workload, achieving both low-price offerings and customer convenience, and has provided a free 10-year warranty on all products since October 2022. It is a proprietary operation model that is difficult for competitors to replicate in a short period.
The company has continuously accumulated product introductions, installation case studies, and user reviews, implementing SEO measures over many years to achieve top search engine rankings. It has built a cyclical growth structure in which increased organic traffic directly reduces customer acquisition costs, suppressing dependence on internet advertising while expanding revenue from ¥4,807 million in FY2022 (ending March 2022) to ¥12,601 million in FY2026 (ending March 2026).
The company made IPS (IT systems) a subsidiary in January 2024 and Hamano Technical Works, among others, a subsidiary in July 2024. It acquired IMI (housing equipment warranty) in August 2025 and Kitchen Works (water-related renovation) in November 2025, and entered into a capital and business alliance with Cainz (with revenue on the scale of ¥466,707 million) in December 2025. The company is progressively building a complementary service platform through M&A and alliances.
ENVALITH's Perspective
Performance Trend
Revenue grew 2.6-fold over five years, from ¥4,807 million in FY2022 (ending March 2022) to ¥12,601 million in FY2026 (ending March 2026). FY2026 maintained high growth with a 22.4% year-on-year increase. Meanwhile, operating profit peaked at ¥329 million in FY2024 (ending March 2024) before sharply declining to ¥163 million in FY2025 (ending March 2025), with only a modest recovery to ¥176 million in FY2026 (ending March 2026). The structure in which upfront investments in advertising expenses, personnel costs, and M&A-related expenses squeeze profits has continued. As for external factors, demand in the housing equipment renovation market remains solid, but rising raw material and fuel prices and inflation are affecting procurement costs. Operating profit for FY2027 (ending March 2027) is projected at ¥450 million (up 155.6% year-on-year), and whether the company can transition out of its investment phase will be tested.
Growth Strategy
Evolving into a housing equipment DX platformer through holding company transition, M&A, and BtoB alliances
Effective October 1, 2026, the company will implement a corporate name change and an incorporation-type company split, maintaining its listing as a holding company while promoting the autonomous growth of each operating company. Through delegation of authority and clarification of responsibilities, the company aims to maximize synergies among businesses and optimize its cost structure.
A capital and business alliance was concluded in December 2025. Through the provision of on-site-survey-free reform services utilizing Replaform and the development of multi-skilled craftsmen via the Koukan Gino Academy, the company will build new BtoBtoC revenue sources.
Shares were acquired in August 2025 (acquisition cost ¥28 million, goodwill ¥116 million). By combining warranty product planning capabilities with the company's installation work network, the company will deploy the Housing Equipment Warranty Service (IMI), which integrates warranty and installation work, for BtoB customers.
Shares were acquired in November 2025 (acquisition cost ¥100 million, goodwill ¥77 million). The company will expand its service area into system kitchen and unit bath renovations, serving as a pioneer in the deployment of a voluntary chain model to quality renovation businesses nationwide.
The increase in orders received for seasonal products such as air conditioners, full-scale sales of which began in the previous fiscal year, contributed to a 22.3% increase in the Housing Equipment DX Business's net sales. The company will continue to leverage TV commercials, video, and social media to improve brand recognition, aiming to reduce customer acquisition costs through increased organic traffic.
Last updated: July 19, 2026