Fast Accounting Co.,Ltd. (5588) Stock Price

First Accounting operates an AI solution business specialized in accounting, leveraging AI and cutting-edge technology. The company primarily promotes digital transformation of accounting operations to improve efficiency. It focuses on the Robota series of services and also provides "Remota," a platform supporting remote work.

First Accounting's services consist of the Robota series, which uses AI-OCR technology, and "Remota," a remote work-compatible platform. These are provided as SaaS cloud services with three billing models: monthly subscription, usage-based, and initial setup fees. As of December 2024, the average customer contract duration is approximately 28 months, with an LTV of 120 million yen.

The Robota series includes Invoice Robota, Receipt Robota, Bank Statement Robota, Document Cutting Robota, Verification Robota, Distribution Robota, and Journal Entry Robota. These tools feature high document reading accuracy and can be used for expense reimbursement and invoice payment reconciliation. Users can select and combine the necessary functions.

Remota is a platform that enables efficiency and remote processing of accounting operations. It receives invoice PDF files via email, reads them using AI-OCR, and automatically creates journal entries. Paper invoices can also be scanned and processed, and the platform includes duplicate submission detection. Finally, digitized data is integrated with accounting systems.

First Accounting also provides Peppol access point services. Peppol is the international standard for digital invoicing, and the company is certified as a Peppol service provider by Japan's Digital Agency. This enables the transmission and receipt of digital invoice data.

First Accounting's primary target customers are large enterprises with annual revenues exceeding 50 billion yen. The company conducts direct sales through its sales team and also sells through distribution partners. For small and medium-sized enterprises, it provides OEM solutions through accounting software vendors. As of December 2024, the company has 140 client implementations.

First Accounting provides AI solutions specialized in accounting and is driving digital transformation in accounting operations. The company aims to empower customers with confidence and courage by removing constraints, while focusing on service development that leverages its technology research capabilities.

As a medium to long-term management strategy, First Accounting is focusing on digitizing enterprise accounting operations and aims to achieve high customer lifetime value. In particular, the company is advancing generative AI research and development and aims to capture the No. 1 market share by delivering high-value-added services.

As part of its growth strategy, First Accounting is developing services powered by generative AI. The company is working to improve OCR processing accuracy and enable information generation from digital invoices, thereby advancing automation in accounting operations. The company is also developing invoice delivery services to improve operational efficiency.

The company is also expanding internationally, with plans to begin sales operations in the United States, based in Chicago. It is strengthening recruitment of foreign talent to pursue global service expansion. In particular, the company is targeting success in the U.S. market, where demand for accounting operation efficiency improvements is high.

First Accounting maintains competitive advantage by strengthening its in-house AI product development capabilities and building a partner sales structure. The company has established systems to process accounting documents in both analog and digital formats in response to the growing adoption of digital invoices.

The company prioritizes technological innovation, enhanced customer success, and strengthened information management systems. Through securing talent with cutting-edge technology expertise and providing services tailored to customer needs, the company aims for sustained growth.