kubell Co.,Ltd.【JP:4448】Stock Price

Kubell operates under the mission of "Making work more enjoyable and creative." The company provides services that enhance work efficiency and enable creative working practices. Specifically, it acts as a sales agent for business communication tools and security software.

Kubell's business is divided into two segments: the "Chatwork Segment" and the "Security Segment." The Chatwork Segment develops and sells the business chat tool "Chatwork," supporting companies in improving operational efficiency. The Security Segment distributes the security software "ESET" as a sales agent.

The Chatwork Segment comprises an Account Business and a Platform Business. The Account Business provides the business chat tool "Chatwork," which includes features such as task management, file management, and voice and video calling. The Platform Business operates various services built on the Chatwork platform.

"Chatwork" features a simple and intuitive user interface and is available on PCs and mobile devices. It is designed to enable smooth communication with external users and adopts a freemium model that allows users to start for free. It also supports integration with many third-party services.

Kubell's revenue model is based on paid plans for "Chatwork," which is delivered as a SaaS offering. The company receives fixed subscription fees based on the number of users, creating a business model with low initial investment and predictable recurring revenue. A free plan is also offered to encourage users to transition to paid plans based on their needs.

The Platform Business provides BPaaS (Business Process as a Service) to streamline non-core business processes for companies. Specifically, it offers services such as Chatwork Assistant and HR and Payroll BPaaS, delivering business processes as services.

Additional services include DX Advisory Services, the cloud storage service "Secure SAMBA," and advertising services. These services support companies in leveraging Chatwork as business infrastructure.

The Security Segment distributes the security software "ESET" from ESET Corporation. Operating as a secondary distributor for Canon IT Solutions Inc., the company conducts e-commerce sales. However, this business is scheduled to be discontinued as the service is being phased out.

Kubell operates under the mission to "make work more enjoyable and creative," providing services that enhance business efficiency and enable creative work practices. The company primarily supports corporate operational efficiency through its business chat tool, Chatwork.

Kubell recognizes that improving labor productivity is critical in Japan's aging society with declining birth rates. Against the backdrop of delayed IT investment in small and medium-sized enterprises (SMEs), the company aims to boost labor productivity through digital transformation initiatives.

The company has established a medium-term management plan with fiscal year 2026 as the final target year, aiming to establish itself as Japan's No. 1 BPaaS company. This strategy includes advancing platform development to function as a business super app.

Kubell's growth strategy comprises three main pillars. First, the communication platform strategy focuses on user acquisition through Chatwork as its foundation, with the goal of establishing a high-value platform.

Second, the BPaaS strategy provides non-core business services such as accounting and human resources management, supporting customers' operational efficiency and productivity improvements. The company aims to establish high-productivity operations that combine technology and human expertise.

Third, the incubation strategy pursues R&D to create new value that serves as a pillar for non-linear growth, thereby expanding the target market.

Kubell targets consolidated revenue CAGR of 30% or higher during 2024–2026, with goals of achieving consolidated revenue of 15 billion yen and EBITDA of 1.5–2.25 billion yen by fiscal year 2026. This plan is designed to realize sustainable growth.