4057 東証マザーズ(情報・通信)



(公開日 2021.10.29)


Interfactory(4057 TSE Mothers)

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1. Corporate Overview
Interfactory provides “ebisumart,” a cloud-focused e-commerce site construction platform for medium to large e-commerce operators.

2. Financial Analysis
Since the fiscal year ended May 2015, the company recorded a revenue increase of 23.3% per year through the fiscal year ended May 2021 due to increase in revenue share. It once recorded an ordinary loss in the fiscal year ended May 2016 due to increase in development costs for large projects, but an increase in profits has continued since the fiscal year ended May 2017 when its development structure was strengthened, and ordinary profit grew at a rate of 70.2% per year since the fiscal year ended May 2015.
There is no financial index showing it has significant superiority over listed companies developing e-commerce site construction related services. One of the factors is considered to be that the company’s sales scale is still small and is bearing relatively high development costs, but this could also be rephrased as there is room for the profit margin to improve along with the expansion of sales volume.

3. Non-Financial Analysis
The company’s source of intellectual capital is the current CEO who leads the management. The CEO decided that the company should shift to cloud-based services before other companies, which led to the accumulation of service track records and expertise. Based on such expertise, the company continued to enrich the functions and an increase in customer satisfaction led to an increase in number of customers, realizing a virtuous cycle.

4. Corporate Strategy Analysis
As for issues that should be addressed, the company needs to further enrich its “ebisumart” services, handle bigger projects, enhance marketing capabilities and heighten its name recognition.
As a top runner in the existing cloud-based e-commerce market targeting medium to large operators, the company will continue to grow by acquiring new customers in the short term. In the medium to long term, the company aims to shift to an open platform and making its services the de facto standard in the e-commerce market.

5. Analyst Evaluation
The Stock Research Center highly evaluates that the company has achieved a competitive edge by shifting to cloud-based and shifting its target to medium and large e-commerce operators. The company recently disclosed that it will launch a service targeting small and medium e-commerce operators. As this is relevant to its medium- to long-term strategy, the Stock Research Center would like to keep an eye on its progress.











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