Livero Inc.

Business Details

Centered on three service groups—"Shinseikatsu Rakutto NAVI" for real estate companies, "Shataku Rakutto NAVI" for corporate clients, and "HAKOPLA" for moving companies—the company provides one-stop support for room searches, moving, utility arrangements, and company housing management associated with relocation. It employs a success-fee-based revenue model with service requesters (real estate operators, corporations, etc.), and is also promoting operational efficiency and strengthening its development structure through the use of AI.

Recent Overview

In Q1 FY2026 (ending December 2026), both net sales and operating profit increased significantly year-on-year, and the full-year forecast remains unchanged

In Q1 FY2026 (ending December 2026, January–March), net sales were ¥1,544 million (up 23.8% year-on-year) and operating profit was ¥535 million (up 90.3% year-on-year), representing a substantial increase in profit. The corporate-oriented service saw steady growth in both the number of users and unit prices, and new contracts secured a number of subletting units exceeding the prior year. SG&A expenses were reduced from ¥673 million in the same period of the prior year to ¥591 million, significantly improving profit margins. Meanwhile, an inappropriate outflow of funds was discovered at a subsidiary, and an internal investigation committee has been established (as of the preliminary investigation, the full amount has been recovered and no extraordinary loss has been recorded). There is no change to the full-year earnings forecast (net sales of ¥5,350 million, operating profit of ¥1,100 million).

Key Products

Growth Drivers

• Continued growth in the number of users and unit prices for the corporate-oriented service (Shataku Rakutto NAVI), and new subletting units exceeding the prior year
• Steady expansion in the number of users and unit prices for the real-estate-oriented service
• Efficiency and productivity improvements through the review of internal business processes amid the rapid spread of AI (contributing to reduced SG&A expenses)
• Growing demand for HAKOPLA and HAKO-Tec driven by rising cost burdens in the moving industry, which is increasing the need for operational efficiency
• Promotion of productivity-improvement services through the "Council for Creating the Future of the Moving Industry" and "HAKOPLA"
• Continued expansion of the revenue base driven by an increase in the number of managed units in the rental housing subletting service
• Expansion of business areas through the consolidation of TANT Co., Ltd.

Risks

• Risk of revenue concentration among key customers (Last One Mile Co., Ltd. accounts for 26.9% of net sales, and SoftBank Corp. accounts for 13.4%)
• Issue of inappropriate outflow of funds at a subsidiary (investigation ongoing by an internal investigation committee, with completion expected around the end of June)
• Increased complexity in cash flow management due to a rapid rise in accounts receivable and accounts payable associated with increased transaction volume in Shataku Rakutto NAVI (total assets increased by ¥2,262 million compared to the end of the prior fiscal year)
• Expanding funding needs due to an increase in security deposits and guarantee deposits associated with the growing number of managed properties in the rental housing subletting service
• Impact on financial soundness due to the decline in the equity ratio (from 35.3% to 29.3%)
• Fluctuations in supply and demand in the moving industry due to deteriorating external conditions such as rising energy prices, inflation, slowing overseas economies, and geopolitical risks
• Risk of information leakage associated with holding large amounts of personal and confidential information (addressed through Privacy Mark and ISMS certification)