ENVALITH
株式会社デリバリーコンサルティング logo

Delivery Consulting Inc.

9240・Growth Market・Services

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株式会社デリバリーコンサルティング logo
Delivery Consulting Inc.9240

Business

Delivery Consulting Co., Ltd., founded in 2003, operates under the corporate philosophy of "Technology consulting that transforms Japan's IT services," and is a company specializing in DX support. Centered on three services—Digital Migration (cloud migration and system construction), Data Strategy (data utilization and BI construction), and Intelligent Automation (RPA and business process automation)—the company provides integrated support ranging from concept development to implementation and in-house capability building. Its major clients include large corporations such as Trans Cosmos Inc. (15.2% of net sales) and Accenture Japan Ltd (10.1% of net sales). The company listed on the Tokyo Stock Exchange Growth Market in July 2021. Net sales for FY2025 (ended July 2025) were ¥2,741 million.

Business Model

The main revenue source is the utilization of consultants and engineers, aiming to maximize customer unit prices through continuous involvement from the conception and design of DX projects through to implementation and operation/maintenance. New customers are acquired through alliances with major tech partners such as Salesforce, Tableau, and AWS, while a dedicated account management department deepens relationships with existing customers to promote cross-selling and upselling. The majority of cost of sales consists of personnel expenses and outsourcing costs, and through the promotion of in-house production, the gross profit margin for FY2025 (ended July 2025) improved to 38.5% (from 31.0% in the previous fiscal year).

Company Strengths

The company provides three phases in-house: Digital Architect (conceptualization), Digital PMO (execution), and Cloud Migration (implementation). Backed by over 20 years of track record, it possesses reliable delivery capability and cross-industry expertise, having built a differentiated service structure that extends to supporting clients' in-house DX capability building.

The company has established alliances with major platforms including Salesforce, Tableau, AWS, Snowflake, Microsoft Azure, and Google Cloud Platform. In June 2025, it newly concluded a sales agency partnership agreement with Accenture Japan Ltd., expanding its service lineup. It holds multiple layers of new customer acquisition channels through partners.

In FY2025 (ended July 2025), as a result of shifting toward high-value-added projects, promoting in-house capability building, and optimizing cost-department personnel through organizational restructuring, the gross profit margin improved by 7.5 percentage points, from 31.0% in the previous fiscal year to 38.5%. Gross profit reached ¥1,055 million (up 26.0% year-on-year), confirming a qualitative improvement in the revenue structure.

ENVALITH's Perspective

Quarterly net income attributable to owners of the parent for the cumulative nine months of FY2026 (ending July 2026) was ¥130 million, already reaching the full-year earnings forecast (¥130 million). Against the full-year sales forecast of ¥3,098 million, cumulative 3Q sales stood at ¥2,162 million (progress rate of 69.8%), and depending on the accumulation of sales and profit in the fourth quarter, an upward revision to the full-year forecast may come into view. The company has kept its earnings forecast unchanged, but there is a possibility that it has been set conservatively.

During the third quarter of the consolidated fiscal period, the company hired nearly 40 new graduates and mid-career employees combined, but this fell short of the hiring plan amid a tightening of labor supply and demand across the industry. As an external factor, amid continued intensifying competition in the DX talent market, rising recruitment costs and hiring delays pose a risk of constraining the pace of revenue scale expansion. While short-term profit has improved due to higher utilization rates, workforce expansion is essential for medium- to long-term growth, and strengthening recruitment capability remains a challenge.

The cumulative nine-month sales growth rate for FY2026 (ending March 2026) was up 8.1% year on year, recovering from the previous fiscal year (FY2025, full year: up 1.4% year on year), but the company itself acknowledges that the pace of revenue growth is somewhat moderate. Meanwhile, SG&A expenses were significantly reduced to ¥694 million (versus ¥748 million in the same period of the previous year), and cost containment is the main driver of profit improvement. There is also an aspect in which the shortfall in personnel expenses due to the unmet hiring plan has contributed to the reduction in SG&A expenses, and it is necessary to closely monitor the impact on profit levels of increased expenses once hiring accelerates in earnest.

Growth Strategy

Accelerating growth through a three-pronged approach: expanded tech-partner collaboration, strengthened account management, and creation of new services

Deepening collaboration with partners including NS Solutions to expand the order base. Cumulative through the third quarter of FY2026 (ending July 2026), partner collaboration contributed to a year-on-year increase in net sales of 8.1%, and the initiative is progressing steadily.

A dedicated department has been newly established to deepen business with existing clients and increase sales per client. This initiative is being continuously pursued with the aim of strengthening ongoing client relationships and building a stable revenue base.

Promoting expansion into new domains such as Data Literacy Engineering (DLE) and AI agent-related services. Also leveraging the sales agency partnership with Accenture to expand the service lineup and diversify revenue sources.

Approximately 40 new graduates and mid-career hires combined were recruited during the third quarter of the consolidated fiscal year, though this fell short of the hiring plan due to industry-wide tightness in labor supply and demand. The company will continue to strengthen recruitment activities, aiming to expand sales scale by increasing the number of consultants.

Last updated: July 17, 2026