WELLNET CORPORATION (2428) Stock Price

Wellnet operates a core payment service that connects businesses and consumers. The company's main services include multi-payment solutions that process billing and collection through convenience stores, ATMs, and smartphones, as well as money transfer services and server-based electronic money.

Its primary customers are corporations in mail-order sales, public utilities, transportation (airlines, railways, buses), and related industries, with widespread use in post-payment collection and ticket sales. Wellnet's revenue comes from setup fees, monthly subscription fees, and transaction-based commissions. Businesses can adopt multiple payment methods in one integrated system without connecting individually to each payment institution.

Although operating as a single business segment, the company divides its multi-payment service into paper-based billing and e-billing using numbers and barcodes, supporting automation and paperless operations. Wellnet also offers money transfer services with account verification, the "Payment Secretary" smartphone app for electronic money, the "Basmori!" bus reservation and purchase app, and additional solutions including customized operations and electronic ticket authentication. The company aims to expand adoption in the transportation and distribution sectors.

Under its five-year management plan titled "Think Wild." (July 2025–June 2030), the company is pursuing dual strategies: maximizing revenue from existing services and developing new businesses in electronic money and authentication. Financially, for the fiscal year ending June 2026, the company projects sales of ¥115.0 billion, operating profit of ¥16.8 billion, ordinary profit of ¥17.0 billion, and net income of ¥11.0 billion. Regarding shareholder returns, the company forecasts an annual dividend of ¥29.50 per share and maintains a policy of maintaining a dividend payout ratio of 50% or higher with a minimum dividend on equity (DOE) of 5%.

Priority investment areas are electronic money and authentication, multi-payment solutions (consolidating diverse payment methods), and remittance services. Specifically, in collaboration with Japan Communications, the company will deploy two pillars: a general-purpose electronic money service and an OEM supply model that companies can embed in their own apps. The company will also enhance usability through remittance services incorporating account verification and the smartphone app "Shiharai Hisho." Differentiation is achieved through a "one-stop integration" system that eliminates the need for businesses to connect individually with payment providers, and through OEM offerings that companies can embed, significantly reducing implementation and operational burdens.

For new market development, the company prioritizes IT modernization for regional transportation operators. Leveraging the shift from traditional local authentication to server-based authentication, it will strengthen proposals for the cloud-based all-in-one service "Altair Triple Star" and the smartphone e-ticket service "Basmori!" The company will also actively promote adoption of the smartphone payment service "stanp"—already operating at FamilyMart—across other convenience store chains, and plans to expand digitized ticket types including commuter passes, season passes, and special event tickets to drive transportation digitalization nationwide.

On the technology front, the company will continue investing in server-based authentication, migration to cloud infrastructure, paperless operations through automated payment data processing, and OEM supply environments via APIs. While advancing external partnerships to enhance security and safety, the company will focus on practical app design and simplified operational management. The company aims to drive technological innovation toward business growth through new service creation based in Hokkaido and talent acquisition, including workplace improvements through WELL certification at headquarters.