May 2026
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Largest Financial Management Software Public Companies in Japan
Benchmark revenue and EBITDA valuation multiples for public comps like
Money Forward, Freee, Miroku Jyoho Service, Avant Group and PCA Corp..
 | Money Forward Inc provides money-related services for individuals and corporations. Its service portfolio comprises personal financial management services and MF cloud services. Its personal financial management services include economic media that conveys money related themes, automatic savings app and mirai talk channel where customers can resolve their financial concerns together directly with financial planners. Its MF Cloud services comprise cloud accounting software, cloud-based tax return, invoice preparation software, payroll calculation, and cloud-based payment reconciliation. | $27 | -6% | $2B | $1B | 4.0x | 23.3x | ||
| Freee KK is a developer of cloud-based software. Its software products include Cloud Accounting software, Cloud HR Labor software, Cloud ERP for Midsize companies, among others. | $14 | -38% | $837M | $704M | 3.1x | 78.9x | ||
| Miroku Jyoho Service Co Ltd offers systems, solutions, and services to accounting firms and their client companies, small and mid-sized companies and data-compatible financial accounting systems. The firm's products include software applications, hardware, and supplies. Its services include tax service, account processing service, management guidance service, IT support and provision of management information services and installation and software and hardware support services etc. | $11 | -2% | $327M | $271M | 0.9x | 4.9x | ||
| Avant Group Corp Develops, sells, and maintains software to help customers make timely and appropriate management decisions and promote management reforms based on a variety of information, both financial and non-financial, and provides software-based consulting and BPO services, thereby contributing to DX of Management. | $7 | -25% | $249M | $180M | 0.9x | 5.2x | ||
| PCA Corp develops and sells computer software. | $8 | -30% | $157M | $25M | 0.2x | 1.4x | ||
| Fast Accounting Co Ltd is engaged in AI solution business specializing in the field of accounting. Its services include invoice Automation of input/confirmation, Automated invoice matching, Automate receipt input/confirmation, Automated receipt matching and others. | $5 | -58% | $51M | $41M | 2.6x | 14.2x | ||
| Median | $9 | -27% | $288M | $225M | 1.8x | 9.7x |
Financial data powered by FactSet and Morningstar. Valuation multiples as of current fiscal year. For more data, start your free trial here.
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