ENVALITH
INTLOOP株式会社 logo

INTLOOP Inc.

9556・Growth Market・Services

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INTLOOP株式会社 logo
INTLOOP Inc.9556

Business

INTLOOP Inc. is a venture-creation type consulting firm that supports client companies' resolution of management issues and corporate transformation through "hybrid team support," which combines freelance consultants and IT engineers with the company's own employees. It operates as a single segment, the Professional Human Resource Solutions & Consulting Business, providing one-stop Consulting Service spanning the strategy, operations, IT, and DX domains, together with freelance talent matching services. Its main clients are SIers, consulting firms, and business corporations such as major manufacturers, and inquiries have been increasing against the backdrop of expanding DX investment. The company was founded in 2005 and listed on the TSE Growth Market in 2022.

Business Model

The main revenue source is contract fees received for assigning registered freelance professionals (approximately 52,000 as of end-July 2025, with 1,579 active) to client company projects. Order unit prices for consulting projects range from ¥1.4 million to ¥2 million per month (up to approximately ¥3 million at maximum), while IT engineer projects range from approximately ¥1.2 million to ¥1.4 million. By combining over 390 in-house delivery personnel with freelancers, the company can flexibly handle projects from small to large scale, and its differentiating factor is its ability to offer relatively low-cost, neutral consulting that is not dependent on any specific IT service.

Company Strengths

The number of registered freelance personnel increased approximately 27% from 41,000 in the previous fiscal year to 52,000 in the current fiscal year, while the number of active personnel expanded from 1,320 to 1,579. Many of these professionals are former employees of major consulting firms or SIers, and this highly specialized talent pool serves as the foundation for customer satisfaction and trust.

In FY2025 (ending July 2025), net sales were ¥33,552 million (up 23.9% year on year), operating profit was ¥2,186 million (up 45.1%), and profit attributable to owners of parent was ¥1,368 million (up 51.6%). Profitability improved as the expansion in gross profit (up 37.9%) outpaced the growth in cost of sales (up 19.4%).

ROE for the current fiscal year improved significantly to 25.0% (from 18.9% in the previous fiscal year). The company achieved high capital efficiency, generating profit of ¥1,368 million against total net assets of ¥6,603 million, supported by an asset-light management structure that leverages the characteristics of a knowledge-intensive business.

ENVALITH's Perspective

For the cumulative nine months, revenue grew 20.8% year on year, maintaining growth, while operating profit fell 59.7% to ¥610 million and net profit attributable to owners of the parent plummeted 82.3% to ¥150 million. SG&A expenses rose approximately 60%, from ¥5,210 million in the same period of the prior year to ¥8,347 million, as M&A-related expenses and increased personnel costs weighed on profit. The shift toward a structure in which revenue growth is not accompanied by profit growth is becoming clear, and it will be necessary to assess the effectiveness of cost control going forward.

The full-year forecast has been revised to revenue of ¥40,000 million (up 19.2% year on year) and operating profit of ¥1,400 million (down 36.0% year on year). Against cumulative nine-month operating profit of ¥610 million, the full-year forecast of ¥1,400 million requires ¥790 million in profit in Q4 alone, premised on a substantial improvement compared with the same period of the prior year. The profit contribution from M&A subsidiaries and the containment of SG&A expenses will be key to achieving this target.

Total assets expanded from ¥13,631 million at the end of the previous fiscal year to ¥19,113 million, while long-term borrowings surged from ¥947 million to ¥4,178 million, and the equity ratio declined from 45.2% to 33.1%. The main cause is the expansion of borrowings to fund M&A, and there is also awareness of the external risk of increased interest payment burden during a period of rising interest rates. Together with the risk of stricter legal regulation of the freelancer-dependent business model, ongoing monitoring of financial soundness is necessary.

Growth Strategy

In pursuit of scale expansion toward VISION2030, the company is simultaneously pursuing existing business strengthening, M&A, and VC investment

The number of registered freelance professionals expanded from 41,000 to over 52,000, while the number of active personnel increased from 1,320 to 1,579. The company continues to acquire new projects through web marketing and deepening relationships with existing clients, functioning as a key driver of revenue.

In the third quarter under review, Comtec Co., Ltd. and Cross System Service Co., Ltd. were newly added to the scope of consolidation (while Vita Co., Ltd. was excluded). Intangible fixed assets (including goodwill) increased by ¥1,230 million compared to the end of the previous fiscal year, and long-term borrowings also increased by ¥3,230 million. M&A investment has been the main factor pressuring profits, making early realization of earnings contribution a key challenge.

Based on the medium-term management plan "INTLOOP VISION2030," the company is strengthening its high-value-added consulting domain that is difficult to replace with AI. Against the backdrop of a market environment of expanding DX investment, the company continues to invest in recruiting and developing its own consultants, though it is currently in a cost-front-loaded phase.

Last updated: July 17, 2026