* Nội dung tiếng Anh đã được sự cho phép sử dụng bởi đội ngũ bên Money Forward Group
Bản gốc tiếng Nhật xem tại đây
This is my first blog post in 2024. Thank you for your continued support this year!
There was a significant earthquake at the beginning of the year in Japan. First and foremost, I extend my heartfelt condolences to those affected by the Noto Peninsula Earthquake. I deeply respect the efforts of those who are providing support on-site despite the harsh cold.
I, as an individual, have also contributed in my own small way.
Once again, thanks to everyone who worked hard, Money Forward was able to announce its full-year financial results for the fiscal year ending in 2023 on January 12.
Consolidated revenue increased by 41% to 30.38 billion yen, SaaS ARR increased by 42% to 23.15 billion yen, both exceeding the upper limits of projections. The number of corporate billing customers exceeded 10,000, marking the largest increase to date.
I am genuinely pleased that, through feedback from users, business partners, communication with investors, and strategic planning and diligent execution by our team, we were able to surpass our target results.
The reactions from analysts and investors have been very positive, and it has further motivated us to keep exceeding expectations.
In this financial report, we disclosed for the first time our "Financial Targets for Next Five Years (2028)." We presented the goal of achieving annual revenue of over 100 billion yen and EBITDA of over 30 billion yen by 2028. Although internal discussions on mid-term goals have always existed, it was the first time we shared them with external stakeholders. I was excited, albeit a bit nervous, to see how people would react to the disclosed targets, which were meticulously calculated based on a high-resolution accumulation of various factors.
There are many things to do, such as proactive product development, increasing individual productivity, strengthening teams, globalizing, etc. However, the most important factor I want to emphasize is:
"Increase the number of happy people."
In other words, sharpens the ability to make all stakeholders happy and increases the number of stakeholders who can be happy through our work and outcome. I believe this is the most crucial foundation for growth.
By stakeholders, I mean not only users who use our products, but also partners, including professionals, investors, shareholders, various partners who support us, and of course, the members of Money Forward. Furthermore, I consider society as a whole an essential stakeholder.
Having passed 12 years since our founding, and with the company having grown significantly, I feel that communication and accountability to each stakeholder are more crucial than ever.
For our users, product releases and updates may serve as a form of communication which are the result of addressing challenges discovered through daily "User Focus". I believe consistently maintaining and improving the precision of "User Focus" will be the greatest value proposition to our users.
Communication with investors has also evolved, receiving feedback, is sometimes very challenging. After securing 31.5 billion yen in funding in 2021, we explained our mid to long-term strategy while communicating, weathered losses again, and welcomed many fantastic colleagues. We have invested in necessary business areas, particularly for mid-sized companies' back-office, developing SaaS services, strengthening sales and marketing, and promoting SaaS × Fintech.
With the EBITDA profitability forecast for this fiscal year, challenges in financial aspects have been addressed, and communication with investors about the next targets has progressed. The disclosure of the "Financial Targets for the Next Five Years" is one of the outcomes of this communication.
Last year, we added the word "Evolution" to our culture, and I realize that the power to "evolve" is essential in communication with investors as well.
Regarding our internal members, we have implemented various initiatives, such as training, welfare benefits, and expanding support systems related to working styles. We believe in carrying out diverse strategies to enable each member, brimming with diversity, to actively contribute and deliver value to users with the "User Focus" approach.
In December of last year, we announced the "Talent Forward Strategy," summarizing Money Forward's human capital management efforts. Not only timely arrangements of necessary systems but also conveying the policy of the membership as a medium to long-term strategy within a larger context, I believe, is increasingly important in this era.
A company that can increase the number of "happy people" can ultimately achieve significant growth and produce substantial results.
To make as many stakeholders happy, I think this is more exciting than breaking down numbers into detailed milestones and, in my view, represents the essence of company management.
By the way, in internal communication forums like All Hands, I rarely emphasize numbers. This is to avoid the "means" and "results" becoming the sole focus.
Instead, I often talk about our mission, vision, values, culture, and share books that have impressed me, like the one introduced in the New Year all-hands meeting.
The era of companies growing solely through the pursuit of economic rationality and efficiency has already ended. We are now in an era where management that satisfies "cultural capital" is essential. In the future, only companies loved by diverse stakeholders internally and externally can survive — a philosophy that excites me when encountering it.
In conclusion, to achieve great things, it takes time, and without the courage to persist, one may not reach the place where they can see the scenery they desire. I hope you can feel our "Evolution" one year from now, and we will continue to strive to create and deliver excellent products. Thank you for your continued support!
