Emimen Co., Ltd.

Business Details

A matching service in which coordinators conduct face-to-face "family meetings" to freely recommend the most suitable senior home to care-giving families and prospective residents. The company utilizes MSWs (medical social workers) and care managers as referral partners, and receives referral fees from senior home operators upon successful move-in contracts. The business structure incurs no cost of sales or advertising expenses, with personnel costs as the main expense. The number of partner senior homes reached 10,758 (as of end-October 2025). The company also operates the "Care Prime Community Site," a senior home information platform (10,212 registered homes).

Recent Overview

Revenue up 34.7% year on year to ¥961 million; segment loss improved by ¥27 million year on year

In H1 FY2026 (ending October 2026) (November 2025 to April 2026), key KPIs expanded, with 5,114 family meetings conducted (up 20.9% year on year) and 2,955 Smiles (up 35.6% year on year). Operating revenue reached ¥961 million (up 34.7% year on year). On the other hand, recruitment and personnel expenses were front-loaded due to the policy of concentrated hiring in the first half, resulting in a segment loss of ¥14 million (an improvement of ¥27 million from the prior-year loss of ¥41 million). While the loss margin is trending narrower, the cost-front-loaded structure continues.

Key Products

Growth Drivers

• Increase in care-giving families accompanying the rise in the number of individuals certified as requiring long-term care (approximately 3.18 million business caregivers, approximately 2.00 million elderly-caring-for-elderly households, approximately 310,000 young carers)
• Expansion in the number of referrals from MSWs and others through active recruitment and training of coordinators (FY2025, ended October 2025: 12,501 cases, up 48.8% year on year)
• Expansion of service coverage to all 47 prefectures and expanded reach to MSWs through the expansion of the nationwide branch network
• Faster ramp-up of new coordinators and standardization of operations through the introduction of Sales Enablement
• Strengthening of the referral network through the expansion of registered homes on the Care Prime Community Site (10,212 homes)
• As a subsequent event, Care Mix Co., Ltd. was made a wholly owned subsidiary effective June 1, 2026, expanding the total number of coordinators to approximately 180 and strengthening coverage in the Greater Tokyo area

Risks

• Downward pressure on revenue and profit due to delays in coordinator recruitment and training (realized in FY2025, ended October 2025)
• Cost-front-loaded structure due to the policy of concentrated hiring in the first half (segment loss of ¥14 million continued in H1 FY2026, ending October 2026)
• Risk of rising recruitment costs due to intensifying competition for talent acquisition
• Risks related to the management system for personal information (sensitive information of prospective residents and care-giving families)
• A referral acquisition structure dependent on maintaining ongoing trust relationships with MSWs and care managers
• Uncertainty regarding the amount of goodwill recorded and PMI costs associated with the Care Mix integration (business combination date June 1, 2026; the amounts of assets and liabilities to be acquired are undetermined at this time)