This article introduces recently IPO-listed companies in Japan while highlighting key challenges, business opportunities, industry trends, and unique business models in the Japanese market.
SORACOM, headquartered in Tokyo, Japan, operates a global IoT connectivity platform under the mission of “democratizing technology” to accelerate innovation and connect people and things worldwide. The company empowers customers across diverse industries to build and scale IoT solutions with ease by offering a cloud-native platform and over 20 modular services.
While the global IoT market continues to grow rapidly, SORACOM provides seamless cellular connectivity in 185 countries through partnerships with 428 carriers, enabling businesses to deploy IoT devices across borders. Its platform supports recurring revenue through subscription-based data plans, while offering incremental revenue from IoT hardware and value-added services. With over 7 million active connections and a customer retention rate of 99.7%, SORACOM is a recognized leader in the Connectivity Management Platform (CMP) space.
In FY2024, SORACOM reported consolidated revenue of ¥7.93 billion, with recurring revenue accounting for nearly 68% of the total. For FY2025, it forecasts 13.5% year-over-year growth, reaching ¥9.0 billion in revenue, led by a 21.7% increase in recurring revenue. The company maintains profitability while investing in AI integration, global expansion, and strategic alliances, including partnerships with Suzuki and KDDI.
Looking ahead, SORACOM aims to reshape the IoT landscape through the fusion of generative AI and IoT (“AI of Things”), positioning itself at the forefront of real-world data processing, automation, and smart infrastructure development.
| Company Name | SORACOM Corporation |
| Headquarters | 4-5-6 Tamagawa, Setagaya-ku, Tokyo, Ojima Bldg. 3rd floor |
| Website | https://soracom.com/en |
| Year of Establishment | 2014/11/10 |
| Listing Date | 2024/3/26 |
| Industry | Information and communication |
| Business Overview | Development and offering of the IoT platform “SORACOM” |
| Representative (CEO) | Ken Tamagawa |
| Number of Employees | 100 (as of 2024/1/31) |
| Stock Exchange | Tokyo Stock Exchange Growth |
| Auditor | KPMG Azusa |
| Lead Underwriter | Mizuho Securities |
| Market capitalization (at opening price) | 67,554 million yen |
| PER (at opening price) | 849.46 |
| Major shareholders (Top 3) | •KDDI Corporation (58.22%) •Ken Tamagawa (7.70%) •Daichi Funato (7.62%) |
This document has been prepared based on information available at the time of the research. While we strive for accuracy, we do not guarantee the completeness or correctness of the information provided. This document is for informational purposes only and does not constitute investment advice or a recommendation. Readers are encouraged to conduct their own verification and due diligence before making any decisions.
Source: Tokyo IPO, Official Website, Yahoo! Finance
