Boutiques,Inc.

Business Details

Centers on "CareTEX," a business matching exhibition for the nursing care industry, and "DXPO," a hybrid exhibition for the IT field. The company collects exhibition fees from exhibitors (suppliers) and provides high-quality business matching opportunities by inviting decision-makers from nursing care operators and IT companies free of charge. A hybrid format combining physical and online exhibitions enables matching throughout the year. The number of exhibition booths multiplied by the price per booth is the main revenue driver, and the number of exhibition booths is treated as a key management indicator. The Recruitment Support Business was integrated into this segment from FY2026 (ending March 2026), and from FY2027 (ending March 2027) the segment is scheduled to be reorganized as the Exhibition Business incorporating the recruitment support field.

Recent Overview

Sales and profit both reached record highs, driven by the active launch of new exhibitions and the expansion of existing ones

In FY2026 (ending March 2026), Exhibition Business sales were ¥2,982 million (up 23.8% year on year), and segment profit was ¥1,147 million (up 28.6% year on year), with the number of exhibition booths reaching a record high of 6,773 (up 28.9% year on year). In the nursing care field, CareTEX Hokuriku (Ishikawa Prefecture) and CareTEX Hiroshima were newly launched, while in the IT field, DXPO Nagoya and DXPO Yokohama were newly launched. From FY2027 (ending March 2027), the Recruitment Support Business will be integrated into the Exhibition Business as its recruitment support field, and the business will be restructured around Growth Shukatsu DXPO.

Key Products

Growth Drivers

• The number of exhibition booths continues to expand in both the nursing care and IT fields (FY2026 (ending March 2026): 6,773 booths, up 28.9% year on year)
• Active expansion into new locations (CareTEX Hokuriku, CareTEX Hiroshima, DXPO Nagoya, DXPO Yokohama; CareTEX Shikoku, CareTEX Niigata, and DXPO Sapporo planned for FY2027 (ending March 2027))
• Increased frequency of physical exhibitions due to the Tokyo exhibition now being held twice a year
• Strong appetite to enter the elderly nursing care market amid a rising aging rate
• Increasing M&A demand driven by accelerating consolidation of nursing care providers, boosting the quality and quantity of exhibition visitors
• Providing continuous matching opportunities throughout the year through the hybrid (physical + online) format
• Diversifying the revenue base of the Exhibition Business by integrating the recruitment support field (Growth Shukatsu DXPO) from FY2027 (ending March 2027)

Risks

• Seasonal fluctuation risk in performance due to exhibition sales and profits being concentrated in the months when exhibitions are held, particularly in the fourth quarter
• Risk of postponement or cancellation of physical exhibitions due to force majeure such as natural disasters (partially covered by online exhibitions)
• Risk that visitor and exhibitor acquisition at new locations and new exhibitions falls short of plan
• Risk of deteriorating business conditions among exhibitors due to intensifying competition and recruitment difficulties in the nursing care industry
• Risk of declining profit margin due to increased fixed costs such as venue usage fees
• Risk that the launch of Growth Shukatsu DXPO falls short of plan following the integration of the recruitment support field from FY2027 (ending March 2027)