Replacing per-client man-month pricing with a single role-based rate card (2026)
What a decision to level prices will be tested on
Being able to set the rate client by client was a practical advantage this firm held over the foreign majors. Levelling it onto a uniform table by rank amounts to choosing to raise the level of the rate even at the cost of reducing room to negotiate. Less a single act of price-raising, it can be read as a change in how prices are decided at all — from individual negotiation to one common table. The intention to pull the target year of the medium-term plan forward by a year reads the same way, as an admission that scale is out of reach unless rates move.
What will be tested is whether the substance can be shown to match the rate. At a moment when clients are said to be tiring of an approach that throws large numbers of people at a problem, and when generative AI has begun taking over parts of analysis and design, raising only the price of the man-month invites the buyer to re-examine the grounds for paying it. The policy of going deep with large accounts is a stance that tries to answer that question with accumulated understanding. That the shares fell 30% in a year of record profit shows the market has not yet accepted the answer. The merits of the pricing policy are undecided as of this writing.
Revenue and net margin, FY2021–FY2026
Revenue in ¥ bn (bars) and net margin in % (line), for the years around the decision. Shaded columns are FY2026 onwards — after it was taken.
Source: securities reports
Read the full dossier in Japanese →
The Japanese edition carries the complete record of this decision — the situation that forced it, the options weighed, what actually followed, and the sources behind every claim.
Other key decisions at Baycurrent
- 2006 A culture where the proposer starts the business — and the turn from integrator to consultancy (2006)
- 2012 The founder steps down and hands the firm to Hagihira Kazumi of McKinsey (2012)
- 2014 The founder’s exit and the Sunrise Capital-led MBO (2014)
- 2016 The September 2016 Mothers listing, designed as a private-equity exit (2016)
- 2016 A change of president after the post-IPO profit drop, and the shift to a hire-more, charge-more model (2016)
- 2024 Converting to a holding company and separating the technology business (2024)
Yen amounts are converted at the average rate of each figure’s own year — not today’s rate; the revenue chart is shown in yen. Exchange rates & sources — the full ¥/US$ table →
Disclaimer
- This page is provided for general information only and is not investment advice, nor a recommendation to buy or sell any security.
- Figures are compiled independently and include our own estimates, approximations and machine-processed data; we make no warranty as to their accuracy or completeness.
- Sources are primarily each company’s securities reports and other public filings, but errors and omissions may remain.
- Any use of this information is at the reader’s own risk. Past performance does not indicate future results.
- Company names, logos and other marks belong to their respective owners.
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