Industry map/Finance & Business Services
Consulting industry map
Who earns the money in Consulting, and who keeps it. When a company spans several industries, only the relevant segment is counted.
FY2025 · 89 companies · ¥859B
Industry map
Companies ordered by revenue, connected by ownership (major shareholders). Arrows point from the shareholder to the investee.
- Industry size (revenue)
- ¥859B
- Companies
- 89
- Avg. salary（parent only）
- ¥6.9M
- Industry weather
- Sunny
YoY +10.6%
Avg. age 37.6
Operating income +19.7%
BayCurrent[6532]
- Revenue
- ¥148.3B▲27.8%
- Operating income
- ¥50.9B▲19.5%
Margin 34.3%
Avg. salary ¥13.3M · 31.3（parent only）
Intage Holdings[4326]
Marketing Support(Consumer Goods and Services) + 1 more
- Revenue
- ¥57.8B▲4.1%
- Operating income
- ¥3.57B▲24.9%
Margin 6.2%
Whole company: Revenue ¥65.6B · Net income ¥3.51B
Avg. salary ¥9M · 48.6（parent only）
Mitsubishi Research Institute[3636]
Think tank and consulting servise
- Revenue
- ¥47.1B▲3.7%
- Operating income
- ¥5.71B▲34.9%
Margin 12.1%
Whole company: Revenue ¥121.5B · Net income ¥6.39B
Avg. salary ¥10.8M · 40.4（parent only）
Forval[8275]
Forval Business Group + 1 more
- Revenue
- ¥44.6B▼3.0%
- Operating income
- ¥2.55B▼5.7%
Margin 5.7%
Whole company: Revenue ¥71.5B · Net income ¥1.48B
Avg. salary ¥6.2M · 38.3（parent only）
Aoyama Zaisan Networks[8929]
- Revenue
- ¥41.8B▼8.4%
- Operating income
- ¥3.86B▲10.0%
Margin 9.2%
Avg. salary ¥9.3M · 39.9（parent only）
Intloop[9556]
- Revenue
- ¥33.6B▲23.9%
- Operating income
- ¥2.19B▲45.1%
Margin 6.5%
Avg. salary ¥6.1M · 35.5（parent only）
Northsand[446A]
- Revenue
- ¥26.2B▲59.5%
- Operating income
- ¥5.55B▲100.0%
Margin 21.2%
Avg. salary ¥6.9M · 32.1（parent only）
Funai Soken Holdings[9757]
Management consulting business
- Revenue
- ¥24.5B▲9.4%
- Operating income
- ¥8.37B▲11.5%
Margin 34.2%
Whole company: Revenue ¥33.3B · Net income ¥6.53B
Avg. salary ¥7.4M · 40.1（parent only）
SIGMAXYZ Holdings[6088]
- Revenue
- ¥23.8B▼9.4%
- Operating income
- ¥6.06B▲7.6%
Margin 25.4%
Avg. salary ¥10.3M · 45.4（parent only）
Business Brain Showaota[9658]
Consulting/System Development, Reportable segment
- Revenue
- ¥23.1B▲11.4%
- Operating income
- ¥2.43B▲25.5%
Margin 10.5%
Whole company: Revenue ¥42.1B · Net income ¥2.99B
Avg. salary ¥7.3M · 38.3（parent only）
Management Solutions[7033]
- Revenue
- ¥23.1B
- Operating income
- ¥2.74B
Margin 11.9%
Avg. salary ¥7M · 37.4（parent only）
YAMADA Consulting Group[4792]
Consulting for Business
- Revenue
- ¥21.2B▲4.0%
- Operating income
- ¥2.58B▼18.7%
Margin 12.2%
Whole company: Revenue ¥26.7B · Net income ¥2.9B
Avg. salary ¥9.8M · 38.1（parent only）
※ Card revenue and operating income cover only the segment in this industry; “Whole company” shows consolidated revenue and net income.
Other companies: Link and Motivation · S-Pool · Cross Marketing Group · Tanabe Consulting Group · IDEA Consultants. · LTS · Insource · Kozo Keikaku Engineering Holdings · VisasQ · starts · Frontier Management · Rise Consulting Group · Globe-ing · F&M · Celm · Advantage Risk Management · ExaWizards · Dream Incubator · SRE Holdings · Progress Technologies Group · LiB Consulting · Peers · Environmental Control Center · Reiwa Accounting Holdings · Shikigaku. · NAC Co . · SOLIZE Holdings · Asmarq · Prored Partners · virtualex holdings · ProjectHoldings · Tenpos Holdings · Forvaltelecom · Coach A · ES Networks · Writeup · Signpost · G-Factory · Tdse · Finatext Holdings …+37
The weather is derived mechanically from year-over-year totals of revenue and operating income (both up = sunny, both down = rainy).
Who earns the money
Area = revenue from businesses in this industry. Color = operating margin.
Who makes a profit
Across = revenue (log scale), up = operating margin, bubble size = operating income.
Ranking and momentum
| Rank | Company (business) | Revenue | Share | Op. margin | CAGR | FCF* |
|---|---|---|---|---|---|---|
| 1 | BayCurrent | ¥148.3B | 17.3% | 34.3% | +24.9% | ¥35B |
| 2▲1 | Intage HoldingsMarketing Support(Consumer Goods and Services) + 1 more | ¥57.8B | 6.7% | 6.2% | +3.5% | ¥5.12B |
| 3▲3 | Mitsubishi Research InstituteThink tank and consulting servise | ¥47.1B | 5.5% | 12.1% | +3.9% | ¥25M |
| 4 | ForvalForval Business Group + 1 more | ¥44.6B | 5.2% | 5.7% | +12.0% | ¥2.21B |
| 5 | Aoyama Zaisan Networks | ¥41.8B | 4.9% | 9.2% | +14.6% | ¥769M |
| 6▲1 | Intloop | ¥33.6B | 3.9% | 6.5% | — | ¥879M |
| 7▲5 | Northsand | ¥26.2B | 3.0% | 21.2% | +59.5% | ¥4.25B |
| 8▲1 | Funai Soken HoldingsManagement consulting business | ¥24.5B | 2.8% | 34.2% | +7.2% | ¥6.91B |
| 9▼1 | SIGMAXYZ Holdings | ¥23.8B | 2.8% | 25.4% | +11.1% | ¥2.83B |
| 10 | Business Brain ShowaotaConsulting/System Development, Reportable segment | ¥23.1B | 2.7% | 10.5% | -1.4% | ¥4.08B |
| 11new | Management Solutions | ¥23.1B | 2.7% | 11.9% | +16.7% | ¥2.08B |
| 12▼1 | YAMADA Consulting GroupConsulting for Business | ¥21.2B | 2.5% | 12.2% | +10.9% | -¥2.4B |
| 13▲5 | Link and MotivationOrganizational development division | ¥16.5B | 1.9% | — | +12.1% | ¥4.59B |
| 14▲1 | S-PoolBusiness solution segment | ¥16.5B | 1.9% | 21.7% | — | ¥3.69B |
| 15▼1 | Cross Marketing GroupData Marketing + 1 more | ¥16.4B | 1.9% | 23.3% | +26.5% | ¥1.71B |
| 16▲1 | Tanabe Consulting Group | ¥16.3B | 1.9% | 11.1% | +11.4% | ¥1.25B |
| 17▼4 | IDEA Consultants.Environmental consultant business | ¥16B | 1.9% | 12.0% | +5.8% | ¥323.1M |
| 18▼2 | LTSProfessional service business | ¥15.6B | 1.8% | 7.8% | +21.7% | -¥515M |
| 19 | Insource | ¥14.5B | 1.7% | 41.2% | +17.9% | ¥4.32B |
| 20new | Kozo Keikaku Engineering HoldingsEngineering consulting | ¥12B | 1.4% | 41.3% | — | ¥2.51B |
| 21▼1 | VisasQ | ¥9.97B | 1.2% | 13.5% | +28.1% | ¥921.6M |
| 22 | startsConsulting business | ¥8.88B | 1.0% | 25.2% | +7.6% | ¥518M |
| 23▼2 | Frontier ManagementConsulting / Advisory segment | ¥8.47B | 1.0% | -1.8% | — | -¥2.07B |
| 24 | Rise Consulting Group | ¥8.42B | 1.0% | 20.2% | +25.2% | — |
| 25▲13 | Globe-ingConsulting business | ¥8.21B | 1.0% | 45.0% | +96.8% | ¥2.81B |
| 26 | F&MConsulting income | ¥8.19B | 1.0% | 31.6% | +14.2% | ¥1.56B |
| 27▼4 | CelmOrganizational and Talent Development Segment | ¥7.85B | 0.9% | 20.1% | — | ¥1.01B |
| 28▼1 | Advantage Risk ManagementMentality Management | ¥7.63B | 0.9% | 16.3% | +15.3% | ¥1.2B |
| 29▼4 | ExaWizardsAI Solution Services Segment | ¥7.08B | 0.8% | 31.3% | — | ¥747M |
| 30▲2 | Dream IncubatorConsulting | ¥6.79B | 0.8% | 29.0% | +24.4% | ¥2.49B |
| 31▼3 | SRE HoldingsAI Cloud and Consulting | ¥6.51B | 0.8% | 53.4% | +42.6% | -¥9.17B |
| 32▼2 | Progress Technologies Group | ¥6.31B | 0.7% | 28.2% | +9.7% | ¥1.89B |
| 33▲2 | LiB Consulting | ¥6.11B | 0.7% | 13.7% | +22.8% | ¥589.6M |
| 34▼5 | Peers | ¥6.1B | 0.7% | 9.2% | +18.2% | ¥664.6M |
| 35▼4 | Environmental Control Center | ¥6.1B | 0.7% | 1.8% | +8.6% | ¥6.7M |
| 36▼2 | Reiwa Accounting Holdings | ¥5.71B | 0.7% | 34.8% | +13.6% | ¥1.28B |
| 37▼1 | Shikigaku.Organization consulting business | ¥4.78B | 0.6% | -3.5% | +9.6% | ¥76.9M |
| 38▼5 | NAC Co .Construction Consulting | ¥4.7B | 0.5% | 2.0% | -10.9% | ¥811M |
| 39▲1 | SOLIZE HoldingsConsulting and Engineering Business | ¥4.62B | 0.5% | 6.6% | — | -¥925M |
| 40▼3 | Asmarq | ¥4.42B | 0.5% | 6.3% | — | ¥259M |
| 41▲5 | Prored Partnersconsulting business | ¥4.12B | 0.5% | -25.9% | — | ¥5.15B |
| 42▼1 | virtualex holdingsIT and Consulting business | ¥4.03B | 0.5% | 23.4% | +2.4% | ¥247M |
| 43▼4 | ProjectHoldingsDigital transformation business | ¥3.99B | 0.5% | 16.4% | — | ¥536.3M |
| 44▲1 | Tenpos HoldingsInformation Service Business | ¥3.86B | 0.4% | 3.7% | +9.0% | ¥697M |
| 45▼3 | ForvaltelecomConsulting business | ¥3.74B | 0.4% | 7.4% | +4.5% | ¥350.3M |
| 46▼2 | Coach A | ¥3.5B | 0.4% | 6.0% | +1.5% | ¥80.4M |
| 47▲1 | ES Networks | ¥3.42B | 0.4% | 9.0% | +8.9% | ¥203.3M |
| 48▼5 | WriteupAI Solutions Business | ¥3.23B | 0.4% | 21.9% | — | ¥35.2M |
| 49▼2 | SignpostConsulting + 1 more | ¥3.09B | 0.4% | 18.8% | +10.1% | ¥112.2M |
| 50▼1 | G-FactoryManagement support | ¥3.03B | 0.4% | 15.1% | +10.5% | -¥139.7M |
Showing the top 50. See all 89 in the list below
* FCF is company-wide (not disclosed by segment). CAGR covers the available years, up to five.
How they make money differently
Where each company's ¥100 of sales goes, and how much it keeps (company-wide).
- Cost of sales
- Operating costs
- SG&A
- Other
- Operating profit
- Insource233641
- BayCurrent442234
- Globe-ing333432
- Funai Soken Holdings611326
- SIGMAXYZ Holdings512425
- Northsand512821
- Rise Consulting Group453520
- Kozo Keikaku Engineering Holdings483715
- YAMADA Consulting Group236314
- starts671914
- IDEA Consultants.672013
- VisasQ8713
- Management Solutions583012
- Tanabe Consulting Group513811
- Link and Motivation464110
- Aoyama Zaisan Networks80119
- S-Pool63289
- Cross Marketing Group62299
- Business Brain Showaota77158
- Mitsubishi Research Institute76177
- LTS64297
- Intage Holdings6331
- Intloop7321
- Forval6332
- Frontier Management6340loss ¥3
Showing the 25 largest companies by revenue.
Ownership links
From the major-shareholder section of annual securities reports.
- ForvalIn industry
- SubsidiaryForvaltelecom70.2%
- トランス・コスモス株式会社Outside
- SubsidiaryApplied Technology60.2%
- 株式会社ソルクシーズOutside
- SubsidiaryeXmotion52.9%
- 株式会社山善Outside
- AffiliateYouji36.7%
- 株式会社SHIFTOutside
- AffiliateRise Consulting Group33.2%
- ㈱アイスタイルOutside
- AffiliateTrenders31.6%
- SBIホールディングス株式会社Outside
- AffiliateProjectHoldings29.9%
- 株式会社ダスキンOutside
- AffiliateNAC Co .27.9%
- ソニーグループ株式会社Outside
- AffiliateSRE Holdings23.3%
- 株式会社山口フィナンシャルグループOutside
- AffiliateDream Incubator22.0%
- 野村ホールディングス㈱Outside
- AffiliateNomura Research Institute20.1%
- Ｍ＆Ａキャピタルパートナーズ株式会社Outside
- StakeFrontier Management19.4%
- 株式会社ヤマダホールディングスOutside
- StakeNAC Co .10.6%
- 伊藤忠商事株式会社Outside
- StakeSIGMAXYZ Holdings9.9%
- 株式会社インターネットイニシアティブOutside
- StakeSIGMAXYZ Holdings9.6%
- 株式会社プロネクサスOutside
- StakeBridge Consulting Group8.6%
- StakeBusiness Brain Showaota4.3%
- 株式会社クレスコOutside
- StakeLTS6.8%
- 株式会社アイズOutside
- StakeCelm6.5%
- 三菱重工業株式会社Outside
- StakeMitsubishi Research Institute6.1%
- 三菱商事株式会社Outside
- StakeMitsubishi Research Institute6.1%
- 三菱電機株式会社Outside
- StakeMitsubishi Research Institute5.6%
- ＪＦＥシステムズ株式会社Outside
- StakeBusiness Brain Showaota5.2%
- ヤーマン株式会社Outside
- StakeReiwa Accounting Holdings5.0%
- BIPROGY㈱Outside
- StakeGiXo4.7%
The company on each card is a major shareholder of the companies listed under it (latest 'major shareholders' disclosure). 50%+ is labelled subsidiary and 20%+ affiliate, based on ownership alone. Stakes under 3% are omitted. Showing up to 24 shareholder cards.
Compare the leaders side by side
- BayCurrent vs Nomura Research Institute
- BayCurrent vs Intage Holdings
- BayCurrent vs Mitsubishi Research Institute
- Nomura Research Institute vs Intage Holdings
- Nomura Research Institute vs Mitsubishi Research Institute
- Intage Holdings vs Mitsubishi Research Institute
- BayCurrent vs Nomura Research Institute vs Intage Holdings vs Mitsubishi Research Institute
All companies in Consulting (by revenue)
All 92 companies in this industry, ranked by revenue in each company's latest fiscal year. For companies that belong through one business segment, the figure is that segment's revenue.
- BayCurrent¥148.3B · 34.3%
- Nomura Research Institute¥60.3B · 30.5%
- Intage Holdings¥59.7B · 8.6%
- Mitsubishi Research Institute¥47.1B · 12.1%
- Forval¥44.6B · 5.7%
- Aoyama Zaisan Networks¥41.8B · 9.2%
- Intloop¥33.6B · 6.5%
- Northsand¥26.2B · 21.2%
- Funai Soken Holdings¥24.5B · 34.2%
- SIGMAXYZ Holdings¥23.8B · 25.4%
- Business Brain Showaota¥23.1B · 10.5%
- Management Solutions¥23.1B · 11.9%
- YAMADA Consulting Group¥21.2B · 12.2%
- Link and Motivation¥16.5B
- S-Pool¥16.5B · 21.7%
- Cross Marketing Group¥16.4B · 23.3%
- Tanabe Consulting Group¥16.3B · 11.1%
- IDEA Consultants.¥16B · 12.0%
- LTS¥15.6B · 7.8%
- Insource¥14.5B · 41.2%
- Kozo Keikaku Engineering Holdings¥13.3B · 39.5%
- Globe-ing¥11.1B · 44.5%
- VisasQ¥9.97B · 13.5%
- starts¥8.88B · 25.2%
- Frontier Management¥8.47B · -1.8%
- Rise Consulting Group¥8.42B · 20.2%
- F&M¥8.19B · 31.6%
- Celm¥7.85B · 20.1%
- Advantage Risk Management¥7.63B · 16.3%
- ExaWizards¥7.08B · 31.3%
- Dream Incubator¥6.79B · 29.0%
- SRE Holdings¥6.51B · 53.4%
- Progress Technologies Group¥6.31B · 28.2%
- LiB Consulting¥6.11B · 13.7%
- Peers¥6.1B · 9.2%
- Environmental Control Center¥6.1B · 1.8%
- Reiwa Accounting Holdings¥5.71B · 34.8%
- Shikigaku.¥4.78B · -3.5%
- NAC Co .¥4.7B · 2.0%
- SOLIZE Holdings¥4.62B · 6.6%
- Asmarq¥4.42B · 6.3%
- Prored Partners¥4.12B · -25.9%
- virtualex holdings¥4.03B · 23.4%
- ProjectHoldings¥3.99B · 16.4%
- Forvaltelecom¥3.74B · 7.4%
- Coach A¥3.5B · 6.0%
- ES Networks¥3.42B · 9.0%
- Tenpos Holdings¥3.35B · -3.0%
- Writeup¥3.23B · 21.9%
- Signpost¥3.09B · 18.8%
- G-Factory¥3.03B · 15.1%
- Tdse¥3.01B · 7.1%
- Finatext Holdings¥2.91B · 28.7%
- GiXo¥2.73B · 1.0%
- MS&Consulting¥2.58B · 9.8%
- Meiho Facility Works¥2.58B · 20.9%
- Atlas Technologies¥2.28B · 0.4%
- SAAF Holdings¥2.28B · 11.2%
- Nyle¥2.27B · 20.2%
- Bridge Consulting Group¥2.24B · 9.0%
- Applied Technology¥2.11B · 30.6%
- Serendip Holdings¥1.99B · 6.3%
- Wilson Learning Worldwide¥1.92B · -17.3%
- TWOSTONE&Sons¥1.86B · 26.1%
- iRidge¥1.7B · 6.5%
- Business Coach¥1.59B · 8.2%
- Infcurion¥1.48B · 39.8%
- Quants Research Institute Holdings¥1.45B · -54.2%
- eXmotion¥1.39B · 13.7%
- Cinc¥1.06B · -4.4%
- MarkLines¥1.01B · 9.1%
- Ishin¥933.8M · 30.0%
- Def consulting¥816.8M · -17.5%
- for Startups¥792.6M · 30.0%
- Asua¥773.7M · 39.5%
- Poppins¥693M · 28.1%
- Oricon¥692.1M · 37.4%
- Mynet¥680.9M · 8.3%
- Kichiri Holdings&¥628.3M · 27.8%
- IID¥515.4M · 3.9%
- Trenders¥457M · 31.2%
- FinTech Global¥455.5M · -8.4%
- Envipro Holdings¥431.4M · 9.4%
- NE¥375.4M · -4.4%
- SystemSoft¥326M · -14.5%
- Emimen¥323.9M · 41.5%
- Linkers¥313.1M · -16.2%
- Youji¥285.2M · 24.5%
- Convano¥282.7M · 51.0%
- Seki¥107.8M · -44.5%
- INCLUSIVE Holdings¥30.1M · -11.1%
- Bank of The Ryukyus¥6M · 66.7%
Revenue · Op. margin
Related industries
- Major Banks
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- Online & Retail-Affiliated Banks
- Securities & Asset Management
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