(332A) Stock Price

Meek operates its mobile IoT support business through two main pillars: "MEEQ," a SaaS-based IoT/DX platform leveraging SIM technology, and MVNE services. MEEQ's key feature is that users can purchase and manage SIM cards starting from a single line through a web interface and begin IoT and business digitalization initiatives without coding.

The company's primary customers are IoT service providers, enterprises advancing DX transformation, and MVNO operators. On the MVNE side, the company provides SIM procurement, inter-operator settlement, service design, and market entry support. Revenue is predominantly recurring monthly subscription income. MEEQ's contracted SIM lines and account numbers (approximately 7,800 accounts) are growing steadily, while MVNE remains flat due to reduced lines from some customers transitioning to MNO status.

The two services have a complementary relationship. MEEQ supports Japan's three major carriers and offers global SIMs usable in approximately 180 countries and regions, monthly plans available in minimal units, and management consoles with no-code data infrastructure. MVNE enables direct carrier connections and private network construction. By combining these capabilities to optimize bandwidth utilization, the company secures cost competitiveness.

The company aims for growth through two main pillars: a SaaS-based IoT/DX platform called "MEEQ" and MVNE (network support services for mobile operators), centered on its mobile IoT support business. Revenue is primarily composed of recurring income, and the number of accounts stands at approximately 7,800 and is on an upward trend. The domestic IoT market is projected to grow at an annual rate of approximately 8.0% and reach approximately 10.1 trillion yen by 2028. Against this backdrop of expanding demand, the company has set the expansion of contracted lines and maintenance of high gross profit margins as key growth indicators.

The company differentiates itself through strategic investments in both platform functionality and business support. Specifically, it is expanding offerings including MEEQ SIM available from 143 yen per month, MEEQ Global SIM usable in approximately 180 countries and regions, MEEQ Data Platform for no-code data collection and processing, and MEEQ AI for analytics support. This approach enables companies with limited development resources to implement IoT solutions in a short timeframe, while combining operational support such as SIM procurement, configuration, and billing to differentiate from competitors.

The company is strengthening large customer acquisition and industry-specific alliances to develop new markets and expand operations. It efficiently acquires lines through pull-type sales leveraging the platform and corporate partnerships, while on the MVNE side, it is expanding into customers' economic ecosystems and non-telecom operators. The company also aims to lower barriers to adoption and expand its customer base by co-developing industry-specific vertical solutions with partners and offering them on the platform.

The company continues investing in technological innovation, reducing implementation barriers and creating added value through no-code data collection and processing and enhanced AI capabilities (MEEQ AI). It is improving bandwidth utilization through technical strengths such as direct carrier connections and private network construction, which it believes supports maintenance of gross profit margins. Looking ahead to 5G, future communication standards, and generative AI developments, the company aims to strengthen competitive advantage through strategic partner collaboration and service investments both domestically and internationally.