ENVALITH
ビジネスコーチ株式会社 logo

Business Coach Inc.

9562・Growth Market・Services

Official website
ビジネスコーチ株式会社 logo
Business Coach Inc.9562

Business

Business Coach Co., Ltd. was founded in 2005 and listed on the TSE Growth Market in 2022. Centered on coaching, the company's core business is the Human Resource Development Business, which provides one-stop support for HR and organizational challenges, including Executive Coaching, business leader coaching, 1-on-1 training, and organizational assessments. Its main customers are corporations centered on Prime Market-listed companies (312 companies as of FY2025 (ending September 2025)). In January 2025, the company transitioned to a holding company structure and established three subsidiaries: Corporate Coach, Executive Coach, and B-Connect. In September of the same year, it transferred its DX Business subsidiary, KD Technologies, completing its selection and concentration on the Human Resource Development Business. In November 2025, it concluded a capital and business alliance with Nikkei Inc.

Business Model

Provides corporate clients with a combination of One-on-One type (Executive/Business Leader Coaching) and One-to-N Type Service (business coaching programs and microlearning). The One-on-One type is billed based on unit price by job title × number of sessions, while the One-to-N Type Service is billed based on program unit price × number of implementations. The cloud coaching system is embedded within the service, promoting continued usage by visualizing clients' behavioral changes. As a KPI, the company emphasizes "revenue per company," achieving ¥5 million (up 26.6% year on year) in FY2025 (ending September 2025). A network of 259 partner coaches supports the service delivery capacity.

Company Strengths

In FY2025 (ended September 2025), One-on-One Type Service revenue reached ¥636 million (up 49.9% year on year). Average revenue per corporate client expanded to ¥5 million (up 26.6% year on year). The shift from group training to one-on-one training is accelerating, particularly among Prime Market-listed companies, and demand for high-unit-price services is expanding structurally.

As of the end of FY2025 (ended September 2025), the company had established contracts with 259 partner coaches. It has secured a talent pool capable of addressing diverse positions and challenges, ranging from executive coaching to coaching for general business professionals, providing the service delivery capacity needed to accommodate expanding orders.

In November 2025, the company issued new shares and 5th series stock acquisition rights through a third-party allotment to Nikkei Inc. (The Nikkei), entering into a capital and business alliance. By combining Nikkei's brand strength, information dissemination capabilities, and customer base with the company's execution support capabilities, it has built a framework to accelerate the acquisition of new large-scale projects and promote the social penetration of human capital management.

ENVALITH's Perspective

In the first half of FY2026 (ending September 2026), net sales were ¥740 million (down 23.3% year on year) and the company posted an operating loss of ¥55 million (versus operating profit of ¥88 million in the same period of the previous year), reflecting a significant deterioration in performance. The company explains this is mainly due to the start timing of large-scale projects sliding to the second half or later, and emphasizes that order-taking activity toward the fourth quarter is "extremely solid." However, the full-year earnings forecast has already been revised downward to net sales of ¥1,600 million (down 20.2% year on year) and operating profit of ¥20 million (down 87.8% year on year), and it cannot be denied that upfront investment costs associated with the structural transition are pressuring profitability. Whether the recognition of large-scale projects in the second half materializes as planned is the biggest focus.

In November 2025, the company received payment for a third-party allotment capital increase from Nikkei Inc., increasing both capital stock and capital surplus by ¥338,174 thousand each. Additionally, further capital enhancement was carried out through the exercise of stock acquisition rights. As of the end of the current interim period, net assets stood at ¥1,351 million (versus ¥771 million at the end of the previous fiscal year), and the equity ratio improved significantly to 91.5% (versus 76.9% at the end of the previous fiscal year), substantially enhancing financial soundness. On the other hand, the company implemented a 3-for-1 stock split effective April 1, 2026, and investors should closely monitor the trade-off between the dilution impact on existing shareholders and the improvement in liquidity.

The Coaching-Supported Recruitment Business, which fully launched in February 2026, is a unique model that uses coaching to support retention and performance after hiring, and is positioned as a new growth engine aimed at maximizing customer LTV through synergies with existing clients. The company is also preparing, jointly with Nikkei Inc., to launch the "Nikkei Executive Coach Certification Program." However, both initiatives are still in the early launch stage, and their profit contribution at present is likely limited. It remains unclear whether these new businesses will reach a scale and timing sufficient to offset the decline in sales in the existing Human Resource Development Business, and the feasibility of the medium-term earnings recovery scenario needs to be carefully assessed.

Growth Strategy

Concentrating on the Human Resource Development Business and leveraging the partnership with Nikkei to secure large-scale projects, aiming for a recovery in earnings in the second half.

Combining Nikkei's information dissemination capabilities and data assets with the Company's coaching and organizational development expertise to provide integrated support for corporate management strategy and human resource strategy. The sales pipeline (total proposed contract value) is trending at record-high levels, and the monthly order forecast has also reached a record-high level. A solid foundation is being built toward an earnings recovery in the fourth quarter.

Promoting a strategy of concentrating resources on highly profitable, quality clients to steadily increase average revenue per corporate client. While the number of clients has decreased to 237 (down 18 companies year on year), the unit price is on an upward trend. The Company aims to expand the scale and duration of projects through company-wide, long-term consulting engagements for large-scale projects (such as Succession Plan Development Support).

A new growth engine that began full-scale operations in February 2026. The Company is developing a proprietary model that uses coaching to support retention and performance after hiring, aiming to maximize customer LTV through synergies with existing clients. Preparations are also underway, in collaboration with Nikkei Inc., to launch the "Nikkei Executive Coach Certification Program," which will produce executive coaches equipped with management literacy.

At the end of the previous consolidated fiscal year, the Company sold all shares of KD Technologies Co., Ltd., removing it from consolidation. This completed the transition to a structure that concentrates management resources on the Human Resource Development Business, the Company's growth area. From the current interim period, the reportable segment has become the single segment of "Human Resource Development Business."

Last updated: July 17, 2026