Nulab Inc. (5033) Stock Price

Market cap
¥4.5B
P/E ratio
20.3x
Nulab provides cloud-based productivity tools including Backlog project management, Cacoo visual collaboration, and Nulab Pass ID management for teams worldwide.

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Business Overview

Nulab is a group consisting of Nulab USA (United States) and Nulab Netherlands (Netherlands). Under the mission of "making creation easy and enjoyable," Nulab operates a cloud services business aimed at improving productivity for companies and individuals.

Nulab's main services include the project management tool "Backlog," the visual collaboration tool "Cacoo," the business chat tool "Typetalk," and the ID management tool "Nulab Pass." Through these services, Nulab supports productivity improvements for companies and individuals.

"Backlog" is a tool that supports team project management and is widely used from software development to digital marketing. It offers a flat-rate plan with unlimited users, making it easy to drive projects across multiple organizations.

"Cacoo" is a tool that allows users to easily create and share ideas and layouts online. It provides a rich library of templates such as wireframes and flowcharts, and is used across various industries worldwide.

"Typetalk" is a business chat tool that facilitates team communication. It features a unique "summary function" and "thread reply function," and offers strong integration with Backlog. However, the service is scheduled to end in December 2025.

"Nulab Pass" is a tool that simplifies organizational ID management and strengthens information security. It provides SSO through SAML authentication and audit logs, reducing security risks. Pricing is based on the number of users.

Management Policy

Nulab continuously develops and improves its project management tool "Backlog," visual collaboration tool "Cacoo," and security enhancement tool "Nulab Pass." Over the medium to long term, the company aims to increase profitability and corporate value by offering a full lineup of services that meet enterprise needs and capturing a high market share.

Nulab is positioning itself as a company that supports streamlined business workflows and promotes team collaboration, leveraging the momentum of digital transformation (DX) initiatives. The company is expanding its service offerings to reach a broad range of professionals by improving user interface accessibility and usability.

In addition to growing existing products, Nulab is strengthening its active recruitment of engineers for new product development and enhancing its AI initiatives. Through its new business creation program "Nu Source," the company is promoting innovative product development to drive medium to long-term performance growth. As a result, the company expects to strategically reduce profit margins temporarily in the fiscal year ending March 2026.

Nulab prioritizes ARR (annual recurring revenue), paid subscription count, and churn rate to ensure sustainable revenue. As of March 2025, ARR reached 4,260 million yen, representing a 7.3% increase year-over-year. The company uses these metrics to objectively assess progress toward management targets.

Nulab emphasizes improving customer satisfaction and expanding sales through strengthening existing services. The company incorporates customer feedback into product development and is expanding features through AI utilization. Additionally, the company has identified talent acquisition and development, information management system strengthening, and internal control system enhancement as key management priorities to increase corporate value.

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