Visional, the Tokyo-listed parent of the BizReach recruitment platform, closed the year to July 2026 with consolidated revenue of ¥99.3bn, up 23.9% from a year earlier, and operating profit of ¥24.6bn, up 14.6%. Net profit attributable to owners rose 16.4% to ¥18.6bn. For the year to July 2027, the company guides revenue up 20.7% to roughly ¥119.9bn and operating profit up 8.3% to ¥26.6bn, but net profit is guided essentially flat, at ¥18.6bn. Visional attributes the gap to two tax changes hitting the coming year: the expiry of a wage-increase promotion tax credit and an additional defense special corporate tax, both of which erode net income even as operating profit rises.
| Metric | Year to July 2026 (actual) | Year to July 2027 (guidance) | YoY change |
|---|---|---|---|
| Consolidated revenue | ¥99.3bn | ¥119.9bn | +20.7% |
| Operating profit | ¥24.6bn | ¥26.6bn | +8.3% |
| Net profit (parent) | ¥18.6bn | ¥18.6bn | +0.0% |
| BizReach revenue | ¥80.1bn | ¥92.9bn | +16.0% |
| HRMOS revenue | ¥9.3bn | ¥12.6bn | +35.6% |
BizReach still funds the group, HRMOS grows differently
BizReach, the core professional-recruitment marketplace, generated ¥80.1bn in revenue, up 16.8%, at a 41.3% pre-allocation operating margin, with cumulative client companies topping 45,800. HRMOS, the newer HR-platform business, grew revenue 78.2% to ¥9.3bn and reached annual recurring revenue of ¥10.3bn, up 177% year-on-year, while its client count nearly quintupled to 10,699, up 341.9%. Average revenue per HRMOS client fell 37.3% to ¥80,520. Visional attributes both the client-count jump and the ARPU decline to a redefinition of the disclosed metric: HRMOS KPIs now include HRMOS Kintai, an attendance-management service with a broad customer base spanning company sizes, which pulls the per-client average down even as total revenue and ARR climb. HRMOS turned an operating profit in the second quarter of the year before management chose to reinvest, launching television and online marketing from April 2026; the pre-allocation operating loss for the full year narrowed to ¥485mn from ¥769mn a year earlier. For FY2027, HRMOS revenue is guided to ¥12.6bn, up 35.6%, but the operating loss is guided to widen back to about ¥1.5bn as the company accelerates growth spending, with losses expected to continue for at least two more years.
Thinkings deal lifts goodwill, doesn't move the operating numbers
On October 1, 2025, Visional's BizReach subsidiary acquired 100% of Thinkings, an applicant-tracking software provider whose sonar ATS product is now folded into HRMOS results and consolidated for ten months of the fiscal year. Total consideration was ¥14.0bn, split between ¥11.9bn in cash and ¥2.1bn in contingent payments, and the deal generated ¥9.2bn of goodwill, to be amortized over ten years. Group goodwill on the balance sheet rose from ¥3.7bn to ¥12.0bn as a result. Those figures describe the acquisition's balance-sheet effect, not the operating results the deal is folded into; HRMOS's own revenue and loss lines already reflect the ten months of Thinkings contribution.
Elsewhere, the smaller Incubation segment, which houses ventures such as the M&A platform M&A Succeed and vulnerability manager yamory, grew revenue 74.9% to ¥5.5bn while its operating loss widened to ¥2.4bn from ¥1.7bn a year earlier. Management says it will keep funding new-business investment and acquisitions from BizReach's stable profit base as it enters the year testing how far that discipline can stretch.