CS-C.Co.,Ltd.
9258・Growth Market・Services
Business
CS-C Co., Ltd. focuses on the Local Business DX business, targeting local businesses such as restaurants, beauty salons, and lodging facilities as its primary customers, with the SaaS-based integrated marketing tool "C-mo" and the consulting × BPO service "C-mo Pro" as its core offerings. The company listed on the Tokyo Stock Exchange Growth Market in December 2021. It also operates a Physical Stores business, directly operating restaurants through its consolidated subsidiary CS-R Co., Ltd., building a bidirectional knowledge-circulation model in which marketing know-how developed through DX support is applied to actual store operations. The target market comprises over 1.2 million establishments in the gourmet, beauty, and travel industries alone, with the majority being small and medium-sized businesses where DX adoption remains limited. Consolidated net sales for FY2025 (ended September 2025) were ¥3,179 million.
Business Model
In the core Local Business DX business, the company builds up stable recurring revenue through the monthly subscription SaaS "C-mo" and "C-mo Pro," which combines consulting and BPO. As of the end of September 2025, recurring revenue (annualized) stood at ¥2,012 million. In addition, the company combines flow-type revenue such as Ad Operations & SNS Support. In the Physical Stores business, the company records revenue from Directly-Operated Restaurants, aiming to enhance the added value of the group as a whole through mutual complementarity with the DX business.
Company Strengths
As of the end of September 2025, recurring revenue (annualized) reached ¥2,012 million, with recurring revenue accounting for approximately 63% of total group revenue of ¥3,179 million. The combination of monthly-fee SaaS and consulting × BPO offerings suppresses churn and drives per-customer revenue growth (upselling), resulting in highly stable and predictable earnings.
Starting with SEO services for restaurants in 2012, the company progressively expanded into new industries: gourmet consulting in 2014, the SaaS product "C-mo gourmet" in 2018, beauty-focused SaaS in 2021, and travel consulting in 2023. Across the restaurant, beauty, and lodging industries, the company addresses a potential market of over 1.2 million stores in total, and has accumulated industry-specific expertise.
Through directly-operated restaurants run via the consolidated subsidiary CS-R (Predia became a subsidiary in April 2025, and the new store "Kawasa Oni" opened in July of the same year), the company validates the marketing expertise developed through its DX support business in real store operations, and feeds the practical insights gained back into improving the service quality of the DX business, forming a circular model.
ENVALITH's Perspective
Performance Trend
Revenue has grown consistently over the past five fiscal years, from ¥1,908 million (FY2021) to ¥3,179 million (FY2025). In 1H (cumulative 2Q) of FY2026 (ending September 2026), revenue was ¥1,829 million, representing a progress rate of 50.4% against the full-year forecast of ¥3,626 million (+14.1% year on year), broadly in line with plan. On the other hand, operating profit peaked at ¥222 million in FY2023 and has continued to deteriorate since, resulting in an operating loss of ¥76 million in FY2025. In 1H FY2026, the operating loss reached ¥119 million, already exceeding the full-year forecast (loss of ¥70 million) at the interim stage. The main causes are upfront investment costs in the Physical Stores and Others segment and a high level of SG&A expenses (¥1,110 million). In terms of the external environment, expanding inbound demand is supporting revenue in the physical store and media businesses, but soaring food ingredient and energy prices are pushing up the cost ratio.
Growth Strategy
Transitioning into a "Local Business OS" through deeper DX, expanded Physical Stores, and the addition of recruitment support
Implemented AIO (AI Search Optimization) functionality in anticipation of improved search accuracy driven by generative AI, expanding into new areas beyond conventional SEO and MEO. Promoting AI automation of internal operations to allow consultants to focus on higher value-added work. Aiming to expand revenue through both upselling to existing customers and acquiring new customers.
Made Gotsu Co., Ltd. a subsidiary in February 2026 (taking over 4 stores), and following the New Store Opening in Ikebukuro and the Overseas Pop-up Store (Kuala Lumpur, Malaysia) deployment, built a 16-store network domestically and internationally. Aims to promote the global reach of Japan's food business by establishing a highly replicable multi-store rollout model.
On April 20, 2026, made perzik Inc. (recruitment support, video production, and education business) a wholly owned subsidiary for ¥120 million. Building a vertically integrated support system providing everything from customer acquisition support (sales growth) to recruitment support (securing personnel), aiming to increase ARPU among existing customers and differentiate as a "next-generation Local Business OS."
In addition to the existing restaurant, beauty, and lodging sectors, formally commercialized services for dental clinics. Accelerating customer acquisition with speed centered on a partner strategy, aiming to significantly expand the addressable market size.
Promoting an increase in reservations through expanded partnerships with KKday, WAUG, and byFood, as well as the provision of a WeChat mini-program for the Chinese market. Currently in an advertising expense front-loaded investment phase, with monetization following increased media awareness being a key challenge. As an external factor, the sustained high level of inbound visitors to Japan is boosting the potential market.
Last updated: July 17, 2026