Fuller, Inc. (387A) Stock Price

Fuller operates as a "digital partner" business that supports corporate digitalization through smartphone app planning, design, and development, combined with app usage data aggregation and analysis. The company aims to co-create new value alongside clients, providing end-to-end services from planning through operation and improvement.

Major clients are primarily large domestic companies with long-term relationships, accounting for approximately 88% of revenue. Revenue consists of contract-based client work and subscriptions to the company's proprietary app analytics service "App Ape," along with custom analysis, with direct transactions representing approximately 96.6% of total revenue.

The business is divided into two main segments: "Client Work" and "App Analytics Service." Client work delivers business development consulting, system development, and UI/UX design as an integrated team offering. The app analytics service centers on the "App Ape Dashboard" and customized analysis tailored to client needs, with differentiation achieved through a core team of creative talent including engineers, designers, and data scientists.

The company aims to achieve sustained revenue growth and improved profitability through expansion of its "Digital Partner Business." Currently, approximately 88% of revenue comes from long-term contracts with major corporations, and outsourced projects account for over 90% of sales. The company prioritizes securing profitability on a project-by-project basis and maximizing operating profit through accumulation. Key performance indicators include revenue, operating profit, and operating profit margin, with a growth strategy that balances talent acquisition, cost management, and necessary investments.

Priority investment areas include recruiting and developing creative talent such as designers, engineers, directors, and data scientists, as well as strengthening product development and solutions. The company pursues an in-house development approach while enhancing capabilities across business development consulting, systems development, and UI/UX design through staff expansion, partnerships with development vendors, active adoption of external services, and technical training. The company differentiates itself by offering its proprietary app analytics service "App Ape" through both subscription and contract-based analysis models.

For new market development and business expansion, the company has identified sales channel expansion and partnerships with other companies as concrete strategies. It is advancing sales collaboration with Yappli and the Dentsu Group, planning to increase sales opportunities through standardization of solutions and expanded handling of existing products. The company leverages a dual-headquarters structure in Chiba (Kashiwa-no-ha) and Niigata—with approximately 142 employees at the Kashiwa-no-ha headquarters, 37 in Niigata, and 11 at other locations as of June 30, 2025—combined with remote work to secure talent outside the Tokyo metropolitan area and strengthen regional operations.

The company addresses technological innovation through continuous investment and internal organizational development. Specifically, it enhances proprietary services and strengthens data analytics capabilities. For information security, the company obtained ISMS certification (ISO27001) in May 2022 and implements security tools, facility measures, and employee training under the leadership of an Executive Officer CISO. Additionally, the company promotes training and research and development aimed at keeping pace with emerging areas such as AI and data utilization, strengthening its ability to support customers' digital transformation from a technical perspective.