🇯🇵 日本語 🇺🇸 English
3,791 companies 2,409 AI summaries 1,867 risk analyses 1,334 growth scores Register free — watchlist & alerts →
EDINET 7476 Positive Risk Analyzed 📈 Growth 6/10

AS ONE CORPORATION

Annual Securities Report - 65th Term(2025/04/01 - 2026/03/31) ／ 2026-06-23 11:21

Covers EDINET statutory filings (TDNET timely disclosures / earnings flashes are not included).

EarningsGuidance DownVolumeNew ProductCapacityDemand
AI Summary 2026-06-23 11:27

FY2025 achieved 16 consecutive years of revenue growth at ¥110.69B (+6.7%), with operating profit ¥12.77B (+10.7%) and net income ¥9.18B (+11.5%). Platform capabilities strengthened via EC expansion, 14M+ SKU portfolio, and ¥169B virtual inventory visibility. FY2026 guidance shows +6.5% revenue but flat operating profit (+0.5%) amid profit pressure.

KEY POINTS
  • 16 consecutive years of revenue & profit growth: Revenue +6.7% (¥103.8B → ¥110.7B), OP +10.7% (¥11.6B → ¥12.8B), NI +11.5% (¥8.2B → ¥9.2B)
  • E-commerce acceleration: EC revenue ¥38.26B (+12.8%), ocean system 643 clients (+212), Wave 23,965 registrants (+2,933)
  • Platform enhancement: 14M+ SKU (+1.6M), virtual inventory ¥169B (+¥15B), AXEL2.0 search engine launched
  • FY2026 guidance: Revenue +6.5% expected but OP +0.5%, net income -2.3% (profit headwinds from original products)
  • Mid-term plan 'FY2025-27' (FY2028 target): Revenue ¥130B, OP ¥14.8B, OP margin 11.4%
📊 Revenue
Revenue +6.7% (¥103.8B → ¥110.7B)
💰 Operating profit
OP +10.7% (¥11.56B → ¥12.77B)
🔮 Outlook
FY2026 guidance: Revenue +6.5% (¥118.0B expected), OP ¥12.8B (+0.5%), NI ¥8.9B (-2.3%)
📈 Growth outlook 📈 Growth 6/10
Steady organic growth continuing. EC expansion, SKU proliferation, and logistics investment support sustained revenue growth, though FY2026 profit momentum slows. M&A and service business scaling critical to reach 2035 target of ¥200-300B revenue.
Growth drivers
  • E-commerce penetration (ocean user base expansion, Wave growth, AXEL2.0 search enhancement)
  • SKU proliferation (14M+ catalog, web-exclusive sales targeting ¥34B by 2028)
  • Virtual inventory visibility (supply chain optimization, ¥169B supplier inventory transparency)
  • Logistics capacity expansion (Kyushu DC, Smart DC expansion, new rental & calibration center)
Risk and growth scores and tags are AI-generated estimates from analyzing the disclosure. They are not guarantees of fact, nor investment advice or recommendations. Make investment decisions at your own discretion.
⚠️ Extracted Risk Factors
CategoryDescriptionScoreNew
Market Risk Domestic R&D and capex cyclicality; high exposure to specific sectors (60% of ocean users in chemicals, pharma, electronics). Revenue decline risk in economic downturns. 7/10
Supply Chain Risk China ¥3B, SE Asia ¥2.2B procurement concentration. Hormuz Strait closure (Feb 2026) disrupted naphtha/synthetic rubber supply. Geopolitical & conflict risks. 7/10
Information Security Risk 14M SKU database, customer data, order systems prime cyber targets. System outage impacts 80% of revenue (fulfillment from 5 DCs). Zero-trust security implemented. 7/10
Foreign Exchange Risk ¥17.4B import sales; sourcing from 33 countries. Yen weakness increases COGS (¥40M impact per ¥1 depreciation). Hedging and price pass-through timing lag. 6/10
Human Capital Risk DC labor scarcity, driver shortage, rising wages. Logistics cost inflation trend. Female management ratio 10.6% (vs. 20% target). Talent acquisition delays risk. 6/10
Earnings Risk FY2026 OP +0.5%, NI -2.3% guidance implies margin pressure. Original product sales challenge, logistics cost inflation, EC growth slowdown. Mid-term ¥130B target feasibility at risk. 6/10
Regulatory & Policy Risk Science grants & medical reimbursement policy changes reduce R&D/healthcare budgets. Regulated under Pharmacovigilance, PL law, others. Compliance lag risk. 5/10
Disaster Risk 5 DC concentration. Alternate sourcing & cross-DC contingency in place but multi-DC outage scenario underdeveloped. Business continuity fragility. 5/10
7/10 Market Risk
Domestic R&D and capex cyclicality; high exposure to specific sectors (60% of ocean users in chemicals, pharma, electronics). Revenue decline risk in economic downturns.
7/10 Supply Chain Risk
China ¥3B, SE Asia ¥2.2B procurement concentration. Hormuz Strait closure (Feb 2026) disrupted naphtha/synthetic rubber supply. Geopolitical & conflict risks.
7/10 Information Security Risk
14M SKU database, customer data, order systems prime cyber targets. System outage impacts 80% of revenue (fulfillment from 5 DCs). Zero-trust security implemented.
6/10 Foreign Exchange Risk
¥17.4B import sales; sourcing from 33 countries. Yen weakness increases COGS (¥40M impact per ¥1 depreciation). Hedging and price pass-through timing lag.
6/10 Human Capital Risk
DC labor scarcity, driver shortage, rising wages. Logistics cost inflation trend. Female management ratio 10.6% (vs. 20% target). Talent acquisition delays risk.
6/10 Earnings Risk
FY2026 OP +0.5%, NI -2.3% guidance implies margin pressure. Original product sales challenge, logistics cost inflation, EC growth slowdown. Mid-term ¥130B target feasibility at risk.
5/10 Regulatory & Policy Risk
Science grants & medical reimbursement policy changes reduce R&D/healthcare budgets. Regulated under Pharmacovigilance, PL law, others. Compliance lag risk.
5/10 Disaster Risk
5 DC concentration. Alternate sourcing & cross-DC contingency in place but multi-DC outage scenario underdeveloped. Business continuity fragility.
X LinkedIn Threads Bluesky Facebook
Track Japanese disclosures with JSIGNAL

AI summaries, risk & growth analysis, watchlist alerts and a screener for every Japanese listed company.

Start free — 30-day trial Login