Shobunsha Holdings, Inc.

Business Details

This segment centers on the planning, production, and sale of commercially available publications (travel magazines such as Mapple Magazine, the Sutto Atama ni Hairu Series, etc.) and e-books/apps, and also handles Magazine & Web Advertising sales, planning/production/sale of Custom-order Products, and licensing of brands and trademark rights derived from publications. Major sales customers are TOHAN Corporation (¥1,717 million in sales in FY2026 (ending March 2026)) and Nippon Shuppan Hanbai Co., Ltd. (¥1,242 million). Riding the tailwind of the recovery in the travel and tourism market, the segment has secured revenue in both print and digital media.

Recent Overview

Both sales and profit increased year on year, driven by the recovery in travel demand and contribution from hit products

Media Business net sales for FY2026 (ending March 2026) were ¥4,661 million (up ¥229 million year on year), and operating income was ¥270 million (up ¥48 million year on year). In addition to strong sales of domestic travel magazines aided by the effect of the Osaka-Kansai Expo, the "Mapple Touken Ranbu Travelers Guide" became a hit, reaching No. 1 in the "Books" category on Amazon and Rakuten Books, driving sales of commercially available publications. The effect of the relocation and consolidation of business offices, among other factors, held down the increase in SG&A expenses, improving profitability as well. On the other hand, combined sales to the two major customers (TOHAN and Nippon Shuppan Hanbai) were ¥2,959 million, down from ¥3,194 million in the prior period, indicating a change in the composition of sales channels.

Key Products

Growth Drivers

• Continued recovery trend in travel and tourism demand (including expansion of the inbound market)
• Contribution to commercially available publication sales from hit products such as IP collaborations (e.g., "Mapple Touken Ranbu Travelers Guide")
• Increased demand for travel magazines driven by domestic events such as the Osaka-Kansai Expo
• Revenue diversification through the continued revenue contribution of e-books and apps
• Improvement of the cost structure through relocation and consolidation of business offices (curbing the increase in SG&A expenses)
• Expansion of the lineup of long-selling and growing series such as the Sutto Atama ni Hairu Series and Yama to Kogen Chizu Series

Risks

• Structural shrinkage of the commercially available publication market due to the accelerating shift of information from print to digital media
• Risk of sales concentration in major customers (TOHAN and Nippon Shuppan Hanbai), which together account for approximately 63% of sales
• Concerns over the contraction of domestic travel demand due to overtourism and rising prices
• Impact of geopolitical risk on inbound demand
• Decline in the competitiveness of existing media due to the rise of free information media such as social media and video streaming
• Risk of sales volatility due to reliance on hit products (rebound decline following one-off collaboration products)