People, Dreams & Technologies Group Co., Ltd.
9248・Standard Market・Services
Business
Hito Yume Gijutsu Group Co., Ltd. is a comprehensive construction consultant group engaged in surveying, planning, design, and construction management across a wide range of fields including bridges, roads, rivers, ground engineering, environment, and renewable energy. The group comprises 14 consolidated subsidiaries and 12 affiliated companies, led by its core subsidiary Chodai Co., Ltd., with major customers including government agencies such as the Ministry of Land, Infrastructure, Transport and Tourism and the Ministry of Defense. The Consultant Business accounts for over 96% of net sales, while the group also operates the Service Provider Business, which handles PPP/PFI and renewable energy operations, and the Products Business, which sells eco-friendly products and information systems. The group is also promoting overseas business, primarily centered on Southeast Asia.
Business Model
The majority of revenue comes from construction consulting work (orders of ¥46,222 million) received from government agencies such as the Ministry of Land, Infrastructure, Transport and Tourism and the Ministry of Defense, with revenue recognized according to progress. In addition to this, the company is building up concession- and operation-type revenue (Service Provider Business), such as small-scale hydropower generation in the Philippines and domestic glamping operations, aiming to shift from an order-dependent model toward stable, recurring stock-type revenue.
Company Strengths
In FY2025 (ended September 2025), sales to the Ministry of Defense reached ¥5,124 million (11.1% of total sales), emerging as a new major customer. The business spans a wide range of fields from Geological & Soil Survey to structural design and construction, functioning as a new pillar of government demand expected to see continued expansion driven by increased defense spending.
In FY2025 (ended September 2025), sales to the Ministry of Land, Infrastructure, Transport and Tourism reached ¥15,204 million (33.1% of total sales), a substantial increase from ¥11,190 million in the prior period. Backed by sustained budget allocations for national resilience and disaster prevention/mitigation, core businesses such as bridge and tunnel deterioration countermeasures and river improvement have expanded steadily, demonstrating both the stability and growth potential of government demand.
In the final year (FY2025, ended September 2025) of the "Sustainable Growth Plan 2025," the company achieved sales of ¥45,984 million (106.9% of the ¥43,000 million target) and operating profit of ¥2,683 million (122.0% of the ¥2,200 million target). Contract amendments increasing the value of large-scale projects and earlier-than-planned deliveries contributed to results that exceeded the plan.
ENVALITH's Perspective
Performance Trend
Revenue over the past five fiscal years progressed as follows: ¥37,604 million (FY2022) → ¥39,812 million (FY2023) → ¥39,814 million (FY2024) → ¥45,984 million (FY2025), with H1 FY2026 (ending September 2026) at ¥24,791 million (up 4.1% year on year). Operating profit declined to ¥1,790 million in FY2024, but has shown a clear recovery trend since, reaching ¥2,683 million in FY2025 and ¥3,600 million in H1 FY2026 (up 47.9% year on year). Reductions in cost of sales (down 1.9% year on year) and operational efficiency improvements drove the margin improvement. As an external factor, continued securing of public works budgets for national resilience and disaster prevention/mitigation has supported order expansion. Full-year guidance calls for revenue of ¥44,800 million and operating profit of ¥2,300 million, a year-on-year profit decline, as full-scale upfront investment is expected to weigh on profit in the second half.
Growth Strategy
Under the "Sustainable Growth Plan 2028," the company aims for sustainable growth through four pillars: national infrastructure resilience, renewable energy, regional revitalization, and overseas expansion.
Centered on infrastructure aging countermeasures for bridges, tunnels, etc., flood control and river improvement, and urban infrastructure reconstruction aimed at strengthening regional disaster resilience, the company continues to capture government public works budgets. Order intake for the interim period of FY2026 (ending September 2026) grew steadily, up 16.8% year on year.
The company is actively expanding consulting and survey operations in defense-related business (Geological & Soil Survey, structural design, and the transportation, environment, and construction fields) as well as in renewable energy fields such as offshore wind, geothermal, and biomass, aiming to capture new demand from both government and private sectors.
The company is promoting the sophistication of infrastructure services through AI and ICT utilization, the practical application of its patented bridge inspection robot, and participation in operations related to the social implementation of autonomous driving. IT/DX investment and engineer headcount increases are being steadily implemented as forward-looking investments, with the resulting operational efficiency gains reflected in cost reductions in the interim period of FY2026 (ending September 2026).
While continuing stable operation of the small-scale hydroelectric power plant and water supply concession business on Mindanao Island in the Philippines, the company is promoting expansion into other Asian countries, including an energy management business in Indonesia. Domestically, it is expanding regional revitalization businesses such as Park-PFI and biomass power generation. Sales in the Service Provider Business for the interim period of FY2026 (ending September 2026) struggled, down 27.3% year on year, making the acceleration of monetization a key challenge.
Last updated: July 17, 2026