IR & Research Intelligence, Sessa Investment Research

Sessa Investment Research

IR & Research Intelligence

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Orchestra Holdings Inc. offers company management services. The Company provides group management planning, company merger, company acquisitions, and other services. Orchestra Holdings also operates personnel training.

<ul><li>Orchestra Holdings(hereafter, the Company) has expanded its business domains with “Competing in Growth Markets” and “Strategic Use of M&amp;A” as the two pillars of its growth strategy.</li><li>The Company currently operates Digital marketing (DM) and Digital transformation (DX) as its core businesses and has achieved high growth by combining M&amp;A with recruitment and talent development to expand these businesses.</li><li>The DM and DX businesses are both labor-intensive, with human resources serving as the source of added value. By combining M&amp;A with recruitment and talent development, the Company increased its number of employees from 252 in FY2018/12 to 1,220 in FY2025/12, a CAGR of 25.3%.</li></ul>

Orchestra Holdings(hereafter, the Company) has expanded its business domains with “Competing in Growth Markets” and “Strategic Use of M&amp;A” as the two pillars of its growth strategy.The Company currently operates Digital marketing (DM) and Digital transformation (DX) as its core businesses and has achieved high growth by combining M&amp;A with recruitment and talent development to expand these businesses.The DM and DX businesses are both labor-intensive, with human resources serving as the source of added value. By combining M&amp;A with recruitment and talent development, the Company increased its number of employees from 252 in FY2018/12 to 1,220 in FY2025/12, a CAGR of 25.3%.

Orchestra Holdings (6533 JP) - Entering an Accelerating Profit Growth Phase...

Lib Work Co. Ltd. operates as a custom homebuilder. The Company designs, constructs, and sells single-family homes. Lib Work also renovates and remodels homes.

<ul><li>In FY2026/6, Lib Work (hereafter, the Company) reported consolidated net sales of JPY 15,679 mn (-2.0% YoY), operating profit of JPY 527 mn (-36.6% YoY), ordinary profit of JPY 285 mn (-66.6% YoY), and net profit attributable to owners of parent (hereafter, net profit) of JPY 103 mn (-79.2% YoY).</li><li>Compliance with the revised Building Standards Act prolonged the building confirmation application, delaying housing starts and deliveries.</li><li>However, the Company caught up on these delays toward fiscal yearend, with Q4 operating profit recovering to JPY 643 mn. </li></ul>

In FY2026/6, Lib Work (hereafter, the Company) reported consolidated net sales of JPY 15,679 mn (-2.0% YoY), operating profit of JPY 527 mn (-36.6% YoY), ordinary profit of JPY 285 mn (-66.6% YoY), and net profit attributable to owners of parent (hereafter, net profit) of JPY 103 mn (-79.2% YoY).Compliance with the revised Building Standards Act prolonged the building confirmation application, delaying housing starts and deliveries.However, the Company caught up on these delays toward fiscal yearend, with Q4 operating profit recovering to JPY 643 mn. 

Lib Work (1431 JP) - Q4 Recovery Offsets the Impact of Delays

<ul><li>The Company currently operates Digital marketing (DM) and Digital transformation (DX) as its core businesses and has achieved high growth by combining M&A with recruitment and talent development to expand these businesses.</li><li>Given a business structure in which workforce expansion directly drives revenue and profit growth, SIR believes the Company’s ability to secure personnel is a competitive advantage that supports medium- to long-term profit growth.</li><li>SIR highlights that both businesses are entering an accelerating profit growth phase.</li></ul>

The Company currently operates Digital marketing (DM) and Digital transformation (DX) as its core businesses and has achieved high growth by combining M&A with recruitment and talent development to expand these businesses.Given a business structure in which workforce expansion directly drives revenue and profit growth, SIR believes the Company’s ability to secure personnel is a competitive advantage that supports medium- to long-term profit growth.SIR highlights that both businesses are entering an accelerating profit growth phase.

<ul><li>In FY2026/6, Lib Work (hereafter, the Company) reported consolidated net sales of JPY 15,679 mn (-2.0% YoY), operating profit of JPY 527 mn (-36.6% YoY), ordinary profit of JPY 285 mn (-66.6% YoY), and net profit attributable to owners of parent (hereafter, net profit) of JPY 103 mn (-79.2% YoY).</li><li>For FY2027/6, the Company forecasts net sales of JPY 16,200 mn (+3.3% YoY), operating profit of JPY 580 mn (+9.9% YoY), ordinary profit of JPY 510 mn (+78.8% YoY), and net profit of JPY 280 mn (+171.6% YoY).</li><li>The Company announced a new mid-term management plan on August 21, 2026.</li></ul>

In FY2026/6, Lib Work (hereafter, the Company) reported consolidated net sales of JPY 15,679 mn (-2.0% YoY), operating profit of JPY 527 mn (-36.6% YoY), ordinary profit of JPY 285 mn (-66.6% YoY), and net profit attributable to owners of parent (hereafter, net profit) of JPY 103 mn (-79.2% YoY).For FY2027/6, the Company forecasts net sales of JPY 16,200 mn (+3.3% YoY), operating profit of JPY 580 mn (+9.9% YoY), ordinary profit of JPY 510 mn (+78.8% YoY), and net profit of JPY 280 mn (+171.6% YoY).The Company announced a new mid-term management plan on August 21, 2026.

Tobila Systems Inc. develops telecommunication software. The Company designs junk phone filtering systems, information processing platforms, and other mobile related products. Tobila Systems serves customers in Japan.

<ul><li>In Q3 FY2026/10, Tobila Systems (hereafter, the Company) reported net sales of JPY 2,636 mn (+27.1% YoY) and operating profit of JPY 755 mn (-0.6% YoY).</li><li>The Solution business continued to deliver high growth, with sales rising 79.0% YoY to JPY 1,139 mn and driving overall net sales growth.</li><li>In Q3 alone, TobilaPhone Biz and TobilaPhone Cloud both posted strong growth of +98.2% YoY and +89.9% YoY, respectively, and the Company also set new quarterly records for both net sales and operating profit. </li></ul>

In Q3 FY2026/10, Tobila Systems (hereafter, the Company) reported net sales of JPY 2,636 mn (+27.1% YoY) and operating profit of JPY 755 mn (-0.6% YoY).The Solution business continued to deliver high growth, with sales rising 79.0% YoY to JPY 1,139 mn and driving overall net sales growth.In Q3 alone, TobilaPhone Biz and TobilaPhone Cloud both posted strong growth of +98.2% YoY and +89.9% YoY, respectively, and the Company also set new quarterly records for both net sales and operating profit. 

Tobila Systems (4441 JP) - Business Portfolio Transformation Accelerates CompanyWide Growth