May 2026
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Largest MarTech Public Companies in Japan
Benchmark revenue and EBITDA valuation multiples for public comps like
Justsystems, Sansan, Septeni Holdings, Infomart and BASE.
 | Justsystems Corp is a global software provider based in Japan. It provides service of user Interface customization, output customization. The company's products include XMetaL Author which brings automation to the process of content creation; XMAX, which is an embeddable ActiveX component designed for developers to integrate into custom environments; and XMetaL Developer, which is a tool for fast configuration of XML content authoring solutions that combines development tools in a robust and flexible Integrated Development Environment (IDE). The company also provides engineering services and training services. | $26 | +14% | $2B | $976M | 3.5x | 7.6x | ||
| Sansan Inc develops and delivers cloud-based card management services. It serves corporations and individuals. | $11 | -18% | $1B | $1B | 4.3x | 48.2x | ||
| Septeni Holdings Co Ltd is a Japanese Internet marketing company, providing marketing support services based primarily on Internet ads. Its business activities are divided into two segments including Internet marketing business and Media content business. The Internet marketing business segment includes a social media business that provides marketing services for customers on various global social media networks. The company's media content segment plans, develops and operates media and content specializing in Manga art for mobile phone advertisements. Septeni's primary revenue source geographically is Japan and it also operates subsidiaries in the United Kingdom, South Korea, and the United States. | $4 | +34% | $738M | $599M | 3.0x | 16.9x | ||
| Infomart Corp is a Japan-based provider of business-to-business e-commerce software solutions. The firm's operations are organized in six segments: Application Service Provider (ASP) Ordering, which offers ordering systems and online document processing services; ASP Written Standards, which uploads written standards online; ASP Negotiation for groupware; ASP Ordering and Operation for food wholesale companies; Cloud Service, which offers a data delivery system for food wholesale companies; and Overseas, which offers solutions to overseas markets. | $2 | -9% | $637M | $526M | 4.3x | 16.6x | ||
| BASE Inc is engaged in the operation and development of web service planning. The company offers online shop opening service, shopping app, Fundraising Service, Online Payment Service, E-commerce website building platform, and ID Payment Service / Payment App. | $2 | -30% | $197M | $50M | 0.4x | 4.4x | ||
| AnyMind Group Inc is engaged in the development and provision of platforms that provides one-stop support for brand design and planning, production, e-commerce enablement, marketing, and logistics. | $3 | -8% | $191M | $240M | 0.6x | 9.5x | ||
| Fan Communications Inc is a Japanese Internet marketing company. The company is developing Internet advertising-related businesses. It has its own media operation and advertising agency and is mainly involved in Internet-based performance marketing ad network services. Its product and services are divided into cost per action ad network business (affiliate advertising, smartphone app install advertising) and cost per click/targeting ad network business (smartphone and network, behavioral targeting supply-side platforms). | $3 | -4% | $173M | $91M | 2.0x | 6.5x | ||
| i-mobile Co Ltd provides advertising platform for clients to advertise products and for publishers to monetize cyberspace. Its ad network helps to bring advertisers and media together. | $3 | -27% | $172M | $52M | 0.4x | 1.9x | ||
| Plaid Inc is engaged in providing cloud-based customer experience platform KARTE. It provides data analytics, development and operation of platform, media shopping tribe and other services. | $4 | -47% | $156M | $134M | 1.5x | 14.7x | ||
| NeoJapan Inc develops and provides Internet application software, which includes a web-based groupware for information sharing within a firm. The firm mainly provides package software, application service and system integration. It offers desknet's NEO, a groupware software; AppSuite, a tool to create custom business applications; ChatLuck, a chat-based business communication tool; and desknet's DB, an online database system, which enables sharing of information. It also provides Denbun, a Web-based email system for corporate clients that manages, sends, and receives emails through a Web browser; desknet's DAX, a file transfer system; desknet's SSS, a Web-based sales management system; desknet's CAMS, a Web-based customer relationship management system; and desknet's Blog, a blog system. | $10 | -14% | $139M | $97M | 1.9x | 5.2x | ||
| UNITED Inc is a Japan-based company, engages in advertising technology and smartphone applications business. It offers various smartphone applications, including CocoPPa, CocoPPa Play, CocoPPa Launcher, CHEERZ, and Crash Fever; and Kanahei Apps. | $3 | -- | $116M | $23M | 0.3x | 1.3x | ||
| eBASE Co Ltd is engaged in the planning, development, sales and maintenance of e BASE series which is a content management software. The solutions provided by the company include food industry solutions, residential industry solutions, printing industry solutions, data pool solution, and sales support solutions. | $2 | -24% | $109M | $77M | 2.2x | 6.8x | ||
| MicroAd Inc is centered on the data platform "UNIVERSE" that aggregates a huge amount of online and offline consumer behavior data of consumers. It is developing various marketing products specialized in the industry. In addition, the company is engaged in the digital signage business, which networks outdoor vision and digital signage in various facilities, and an overseas marketing consulting business, mainly in Asia. | $4 | +11% | $100M | $103M | 1.0x | 41.6x | ||
| Geniee Inc engages in the Internet advertisement technology business in Japan and internationally. It provides Geniee SSP, a platform that compares various deals, such as pure ads, real time bids from demand side platforms and ad exchanges, and ads from multiple ad networks and affiliate ads, as well as serves ads that enhance the revenue; Geniee Trading Desk, an integrated operation service for display ads; DMP, a data platform that stores and analyzes data from ads, marketing, media, and users; and Data Exchange which enables the delivery of online ads and email ads using membership data and various types of medium audience data. The company also offers its services for agencies and App Developers. | $6 | -40% | $78M | $129M | 1.8x | 5.6x | ||
| Adways Inc engages in the provision of advertising services. It also deals with mobile applications and contents development for media advertising. Its operations include advertising business, applications and media business, overseas business. The advertising business covers primarily internet advertisements. The applications and media business develops and manages smartphone applications and media contents. The overseas business offers internet marketing services overseas. | $2 | -22% | $65M | $4M | 0.0x | 1.3x | ||
| ValueCommerce Co Ltd is engaged in provision of Marketing Solutions Business, EC Solutions Business, and Travel Tech Business. It provides marketing solution from customer attraction to retention to maximize commerce operators‘ performance, Gross Merchandise Value (GMV). | $3 | -39% | $65M | $2M | 0.0x | 0.1x | ||
| Unerry Inc operates a big data platform of people flow data, and offers data analysis and advertising/marketing services to retail, manufacturing, and local governments. | $13 | -18% | $47M | $37M | 1.5x | 18.7x | ||
| All About Inc is engaged in the technology business. The company provides Internet advertising services. It offers editorial advertising, ad impressions, and ad traffic services. | $2 | +1% | $32M | $29M | 0.3x | 11.8x | ||
| Glad Cube Inc operates in the following reportable segments: Marketing DX Business, and Technology Business. The majority of its revenue is generated from the Marketing DX Business, which is a proposal-based operation of all kinds of internet advertising, including listing ads, DSP ads, and SNS ads. In addition, it is involved in content creation for use and videos, website analysis using its own SiTest, access analysis, site creation, and consulting, and offers clients comprehensive digital marketing strategies through routing. The Technology business includes in-house developed media operations for SPAIA, AI-based predictions for professional baseball games, and super player names. It also provides customers with contract development services such as system and application development. | $3 | -- | $22M | $17M | 1.5x | (778.4x) | ||
| Visumo Inc is engaged in the SaaS development of the visual marketing platform Visumo. It is a visual marketing platform that makes it easy to enrich the website content. | $4 | -38% | $8M | $7M | 1.3x | 8.0x | ||
| Median | $3 | -18% | $127M | $84M | 1.5x | 7.2x |
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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