Timee, the Tokyo-listed spot-work platform, told investors on September 10 that its board had resolved to prepare an application to move up to the Tokyo Stock Exchange's Prime Market segment. The company was explicit that this is preparation only: no application date and no approval date have been set.
The disclosure came with quarterly numbers showing a business still scaling on the demand side while profitability narrows. For the quarter to July 31, 2026, revenue rose 24.8% to ¥10.44bn and gross transaction value, the total wages and fares clients pay workers through the platform, rose 18.8% to ¥33.69bn, with Timee's average take rate holding at 28.7%. Worker utilization, the share of posted shifts actually filled, held at a high 86.3%, up 0.4 points from a year earlier. Registered workers passed 14.72 million and registered client business sites topped 488,000.
| Metric | Year-earlier quarter | This quarter | YoY change |
|---|---|---|---|
| Revenue | ¥8.37bn | ¥10.44bn | +24.8% |
| Operating profit | ¥1.83bn | ¥1.94bn | +5.8% |
| Operating margin | 21.9% | 18.6% | -3.3pt |
| Net profit | ¥1.26bn | ¥1.27bn | +1.3% |
| Spot-work gross transaction value | n/a | ¥33.69bn | +18.8% |
| Worker utilization rate | n/a | 86.3% | +0.4pt |
Profit did not keep pace. Operating profit rose 5.8% to ¥1.94bn, with the operating margin falling 3.3 points to 18.6% from 21.9% a year earlier; net profit rose just 1.3% to ¥1.27bn, with the net margin down 2.8 points to 12.2%. Management attributes the squeeze to continued strategic marketing spend behind the core spot-work business plus losses at several non-spot-work ventures still in their launch phase.
The industry mix was uneven. Restaurant-sector spot-work revenue growth turned positive again after more than a year of negative growth, a reversal management links to pitching the service directly to head-office management rather than store-level buyers. Logistics and retail growth slowed, hit by a cool summer that delayed seasonal demand, disruption tied to the Middle East, and reduced order volumes from one large logistics client. Care and welfare work kept growing fast, supported by a tie-up with a Benesse group staffing affiliate.
The balance sheet improved even as margins narrowed. The equity ratio rose to 46.6% from 42.4%, net assets climbed to ¥17.04bn, and short-term borrowings were cut by ¥1.2bn to ¥12.3bn. Full-year guidance issued in June was left unchanged: revenue of ¥47.6bn to ¥48.8bn and operating profit of ¥8.82bn to ¥9.75bn.
One reading caveat matters here. Timee changed its fiscal year-end, and the resulting transition fiscal year ran just six months; the prior-year quarter in its official results table therefore covers different calendar months (November 2025 to January 2026) than this quarter (May to July 2026), so the two aren't directly comparable on a like-for-like calendar basis. The 24.8% revenue and 5.8% operating-profit growth figures the company highlights instead compare the same calendar months a year apart. Investors watching for the next concrete step should note that Timee has committed to preparing Prime Market paperwork, not to a timetable for filing it.