Business Coach Inc.
9562・Growth Market・Services
Human Resource Development Business
Core business providing one-stop support for human capital management centered on business coaching
| Period | Current | Previous | Change |
|---|---|---|---|
| Revenue (H1 FY2026, ending March 2026) | ¥740 million | ¥965 million (H1 FY2025, ending March 2025) | ↓ |
| Operating income/loss (H1 FY2026, ending March 2026) | -¥55 million (operating loss) | ¥88 million (H1 FY2025, ending March 2025, operating income) | ↓ |
| Ordinary income/loss (H1 FY2026, ending March 2026) | -¥54 million (ordinary loss) | ¥99 million (H1 FY2025, ending March 2025, ordinary income) | ↓ |
| Interim net income/loss attributable to owners of parent (H1 FY2026, ending March 2026) | -¥40 million (interim net loss) | ¥62 million (H1 FY2025, ending March 2025, interim net income) | ↓ |
| Number of corporate clients (H1 FY2026, ending March 2026) | 237 companies | 255 companies (down 18 companies year on year) | ↓ |
| Average revenue per corporate client (H1 FY2026, ending March 2026) | ¥3 million | Down 1.9% year on year | ↓ |
| Total sales pipeline value (H1 FY2026, ending March 2026) | Record high level | — | ↑ |
| Total assets (end of H1 FY2026, ending March 2026) | ¥1,475 million | ¥1,002 million (end of FY2025, ended September 2025) | ↑ |
| Net assets (end of H1 FY2026, ending March 2026) | ¥1,351 million | ¥771 million (end of FY2025, ended September 2025) | ↑ |
| Equity ratio (end of H1 FY2026, ending March 2026) | 91.5% | 76.9% (end of FY2025, ended September 2025) | ↑ |
| Full-year revenue forecast (FY2026, ending September 2026) | ¥1,600 million (down 20.2% year on year) | — | ↓ |
| Full-year operating income forecast (FY2026, ending September 2026) | ¥20 million (down 87.8% year on year) | — | ↓ |
Business Details
Provides one-on-one services such as Executive Coaching, One-to-N Type Service, and other services such as organizational assessment tools to corporate clients, primarily executives and management-level personnel. Under the concept of becoming a "producer of human capital management" that solves clients' HR and organizational challenges on a one-stop basis, the business primarily serves Prime Market-listed companies. Following the deconsolidation of KD Technologies Co., Ltd. in the current interim period, the transition to a single reportable segment has been completed.
Recent Overview
Revenue and profit declined sharply, tipping into a loss in H1 due to the shift of large-scale projects to the second half, though sales activity remained at record-high levels
Revenue for H1 FY2026 (ending September 2026) (October 2025 to March 2026) was ¥740 million (down 23.3% year on year), and operating loss was ¥55 million (compared to operating income of ¥88 million in the same period of the prior year), a significant deterioration. This was mainly due to the lengthening of client decision-making as deals grew larger and the shift of the start of some projects to the second half. Meanwhile, the sales pipeline (expected orders) reached a record-high level, building a foundation for a recovery in earnings in the fourth quarter. The acquisition of large-scale projects through collaboration with Nikkei Inc. is accelerating, and the current monthly order outlook is also at a record-high level. In addition, following the payment for a third-party allotment of new shares from Nikkei Inc. on November 28, 2025, capital stock and capital surplus each increased by ¥338,174 thousand. A 3-for-1 stock split was implemented effective April 1, 2026. The full-year earnings forecast was revised (downward) to revenue of ¥1,600 million and operating income of ¥20 million.
Key Products
Growth Drivers
- Expansion of corporate demand driven by the disclosure and practice of human capital management (accelerating shift from "group-based training" to "one-on-one" format, particularly among Prime Market-listed companies)
- Acceleration in the acquisition of large-scale projects through the capital and business alliance with Nikkei Inc. (sales pipeline and monthly expected orders at record-high levels)
- Notable progress in proposing large-scale projects through service offerings that integrate coaching with management training expertise
- Growing demand for organizational assessment tools and other services (¥108 million in the current interim period, up 25.7% year on year)
- Steady improvement in average revenue per client driven by the promotion of "selection and concentration"
- Cultivation of a new growth engine through the Coaching-Supported Recruitment Business (full-scale launch in February 2026) and synergies with existing businesses
- Production of high-value-added professionals through preparations to launch the "Nikkei Executive Coach Certification Program"
Risks
- Risk of revenue recognition timing shifting to the second half due to lengthening client decision-making processes and implementation preparation periods as deals grow larger in scale (materialized in the current interim period)
- Declining trend in the number of corporate clients (237 companies in the current interim period, down 18 companies year on year)
- Risk of profit margin pressure due to increased SG&A expenses associated with upfront investment (hiring, marketing, systems investment, etc.) (SG&A expenses of ¥554 million in the current interim period, up 7.1% year on year)
- Risk that securing and developing partner coaches could become a constraint on business expansion
- Risk of companies curbing investment in human resources due to deterioration in the macro environment, including energy price fluctuations stemming from factors such as heightened tensions in Iran
- Risk of business portfolio concentration resulting from the concentration of management resources into the single Human Resource Development Business segment following the deconsolidation of KD Technologies Co., Ltd.
- Cash flow risk from the continuation of negative operating cash flow (-¥119 million in the current interim period)
Last updated: December 25, 2025