PRINTNET INC.
7805・Standard Market・Other Products
Business
PRINTNET Corporation is a listed company originating from Kagoshima, based on a printing company founded in 1968, which entered the internet printing mail-order business in earnest from 2005. It operates three sites—"PRINTNET," "PRINT PRO," and "PRINTNET WARE"—offering a wide product lineup including brochures, flyers, envelopes, and T-shirts. Its main customers consist of BtoB clients such as printing companies and design firms (many of whom use the Fulfillment Service) and general BtoC customers, with production carried out at two sites: the Tokyo-West Factory in Yamanashi Prefecture and the Kyushu Factory in Kagoshima Prefecture. The Online Printing Mail-Order Business accounts for approximately 99% of net sales, with net sales of ¥9,214 million in FY2025 (ending August 2025). The company transitioned to the Tokyo Stock Exchange Standard Market in April 2022, and in August 2025 achieved a dual listing on the Nagoya Stock Exchange Main Market as well.
Business Model
Customers check specifications and prices on the website and submit complete print-ready data, eliminating the planning proposal and proofing processes normally required by conventional print vendors. The "ganging process," which efficiently arranges multiple customers' data on a single plate, reduces the number of plates needed and lowers costs. Orders are processed in-house from receipt through shipment at the company's own factories, promoting insourcing and reduction of raw materials. The company achieves both quality assurance and low prices through Japan Color standard printing certification (obtained in 2012), building a cycle that generates repeat customers.
Company Strengths
Ganging processing, which consolidates multiple customer data onto a single plate, reduces the number of plates and material costs. Combined with insourcing of previously outsourced work and reductions in raw material usage, the Online Printing Mail-Order Business segment achieved an 8.2% segment profit margin in FY2025 (ended August 2025), a substantial improvement year on year. The profit-focused strategy of reviewing transactions with major customers proved successful.
In July 2012, the company was among the first in the industry to obtain Japan Color standard printing certification (at the Tokyo West Plant and Kyushu Plant). This ensures highly accurate color reproduction in printing and stable quality, contributing to gaining the trust of BtoB customers (printing companies and design firms). The company has also obtained Privacy Mark and ISMS certifications, establishing an information security management framework.
The number of new customers acquired in FY2025 (ended August 2025) was 13,826 companies (up 498 companies from 13,328 in the previous fiscal year), maintaining an upward trend. Printing sales to non-major customers (general BtoB and BtoC) increased by ¥473 million year on year, expanding to ¥6,419 million. Diversification across a broad customer base is enhancing the stability of earnings.
ENVALITH's Perspective
Performance Trend
Over the past five fiscal periods, revenue peaked at ¥9,630 million in FY2023, followed by a continued adjustment phase with ¥9,307 million in FY2024 and ¥9,214 million in FY2025, but the full-year forecast for FY2026 (ending March 2026) projects a recovery to ¥9,867 million (up 7.1% year on year). Operating profit bottomed out at ¥449 million in FY2024, and has continued an improving trend with ¥563 million in FY2025 and a projected ¥620 million in FY2026. Cumulative results for the first three quarters (9 months) of FY2026 (ending August 2026) showed revenue of ¥6,896 million and operating profit of ¥467 million, representing generally steady progress toward the full-year forecast. Externally, elevated raw material prices and logistics costs as well as yen depreciation continue to exert cost pressure, but these are being absorbed through the promotion of in-house production and improvements in customer mix.
Growth Strategy
Kyushu Second Plant expansion, in-house production shift, and platform development driving sustained growth toward FY2030 (ending August 2030)
The Company is advancing the addition of the Kyushu Second Plant to capture robust demand from internet mail-order sales. As of the end of the third quarter of FY2026 (ending August 2026), construction in progress had accumulated to ¥1,026 million, indicating that capital expenditure is now in full swing. Once operational, the plant is expected to expand order-taking capacity and improve profitability through economies of scale.
The Company aims to structurally reduce cost of sales by bringing outsourced processes in-house and improving the efficiency of raw material procurement. In the cumulative third quarter of FY2026 (ending August 2026), cost of sales decreased by ¥52 million year on year, and the gross profit margin improved from 23.0% to 23.5%, demonstrating that the measures are producing tangible results.
The Company is expanding contract printing (B2B) orders from small and medium-sized printing companies nationwide, building a win-win relationship to form a stable order base. Through active participation in exhibitions such as DXPO, the Company is working to raise awareness among peer companies, and sales to customers other than major clients increased by ¥149 million year on year.
Centered on the Business Strategy Division, the Company is advancing platform development that offers high convenience to both BtoB and BtoC customers, aiming to acquire new customers and increase orders. The number of new customer acquisitions was 9,428 (versus 10,449 in the same period of the previous year), a slight decrease, making improvement in acquisition efficiency a challenge going forward.
The Company is promoting ESG management to build a foundation for contributing to all stakeholders and to society. This is positioned as one of the key points of the medium-term management plan, but disclosure of specific numerical targets and progress remains limited at this time.
Last updated: July 17, 2026