(462A) Stock Price

FUNDINNO is a company operating Japan's largest fundraising support business for unlisted companies. The company operates a platform connecting startups with investors, with its flagship service being "FUNDINNO," Japan's first and market-leading equity crowdfunding service with over 90% domestic market share. It provides a mechanism allowing investors to invest in unlisted companies starting from 100,000 yen, supporting startup fundraising.

Primary customers are startups requiring capital and individual and corporate investors seeking to invest in unlisted shares. Revenue is primarily generated from fees charged to startups when fundraising is completed, with fees ranging from 15-20% of the raised amount. Operating revenue for the fiscal year ending October 2025 was approximately 2.5 billion yen, with fundraising support services accounting for 88.5% of this total.

The company operates services across three domains—"Primary," "Growth," and "Secondary"—to promote investment capital circulation. In the Primary domain, it offers the fundraising support service "FUNDINNO" and "FUNDINNO PLUS+" for large-scale fundraising. In the Growth domain, it supports startup expansion through the shareholder management system "FUNDOOR" and recruitment support service "FUNDINNO GROWTH." In the Secondary domain, it operates "FUNDINNO MARKET," a trading market for unlisted shares, creating opportunities for investors to recover their capital.

FUNDINNO is pursuing a medium-term growth strategy aimed at "democratizing the unlisted stock market," with aggressive business expansion planned through fiscal year 2027. The company is working to significantly increase the supply of risk capital to startups by expanding Gross Merchandise Value (GMV) and the number of qualified investors, both key performance indicators for the company. The government's "Startup Development Five-Year Plan" targets 10 trillion yen in startup investments by 2027, and the company is planning growth by leveraging this policy tailwind.

The company's differentiation strategy centers on building a comprehensive platform serving startups across early to late stages. FUNDINNO, its equity crowdfunding offering, maintains a solid foundation, while FUNDINNO PLUS+, which leverages the qualified investor framework, drives large-scale deals. Leveraging 484 startup support cases and a database of 1,470 qualified investors accumulated since its founding, the company achieves precise matching between investors and startups. The company differentiates itself through rapid fundraising timelines of three weeks to 1.5 months and value-added services such as angel tax credit support.

Market expansion prioritizes broadening the investor base. Beyond traditional individual investors, the company is strengthening outreach to corporate investors, institutional investors, and overseas investors, with plans to penetrate the high-net-worth segment through marketing activities. Regulatory changes such as the authorization of unlisted stock inclusion in investment trusts provide additional momentum, and the company is focusing on building partnerships with new investment players. The company also aims to enhance liquidity in unlisted stocks by expanding FUNDINNO MARKET, its secondary market, to increase investor exit opportunities.

Regarding technological innovation, the company has positioned the digital transformation (DX) of financial markets as a medium to long-term strategy. The company is advancing operational efficiency and labor reduction through AI and DX, with plans to digitalize labor-intensive processes. The company is also focusing on developing new services leveraging accumulated data assets, evolving the platform based on investor and startup attributes, transaction histories, and financial information. Drawing on expertise in building systems compliant with the Financial Instruments and Exchange Act, the company aims to construct a customer-centric integrated financial system.