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KeyH Research Memo(11):成長戦略により踊り場を抜け再成長トレンドへ

KeyH Research Memo (11): Breakthrough the deadlock with growth strategy and move towards a new trend of growth.

Fisco Japan ·  Sep 11 12:11

■Performance trends of KeyHolder <4712>

5. Medium-term growth image

Currently, while the main members have graduated, there are issues such as Nogizaka46, which is in a transition period, such as developing auditions for next-generation members, expansion of corporate scale through various M&A, and making Topos Enterprise a subsidiary, and it must be said that the 2024/12 fiscal year has become a landing ground for growth. The company has not shown a medium-term plan, but in order to get out of the landing and return to a regrowth trend, it is necessary to continue a growth strategy that leverages the strengths of each business while pursuing group synergy. Specifically, in the general entertainment business, in addition to strengthening existing IPs, we will proceed with the development of new unique IPs and promote the expansion of the digital domain. In the video production business, in addition to further strengthening variety program production, which is an advantage, it is expected that global video content development, expansion of production genres, and investment and planning development other than production will proceed. In overseas projects, I would like to wait for the movie “WHAT DIVIDES US” to crank up, which could be a litmus test for the future. In the advertising agency business, it is likely that expansion of the digital domain and development of new sales channels utilizing marketing will be strengthened. In particular, I think there are various possibilities for developing new sales channels using IP. Also, with Topos Enterprise becoming a subsidiary, it is expected that logistics/warehousing-related businesses will also have a significant impact on future consolidated results. If such a strategy is steadily implemented, it is expected that it will recover to a growth trend in the medium term after the 2025/12 fiscal year.

(Written by FISCO Visiting Analyst Miyata Hitomitsu)

The translation is provided by third-party software.


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