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.

About Thinca

Thinca Co., Ltd., headquartered in Tokyo, Japan, is a technology company dedicated to transforming business communication through cloud-based services. Since its founding in 2014, Thinca has sought to eliminate inefficiencies in communication by developing accessible and user-friendly solutions that empower both businesses and employees across industries.

At the core of Thinca’s offerings is “KAIKURA”, an AI-powered integrated communication platform designed to centralize and visualize all customer interactions. Built around a proprietary cloud CTI (Computer Telephony Integration), KAIKURA links phone, SMS, email, video calls, and other channels into a unified system, automatically associating communication history with customer data and enabling efficient, consistent, and personalized service across teams.

KAIKURA addresses long-standing challenges in analog communications—especially in sectors where telephones remain central to customer engagement, such as real estate, automotive, medical, and small businesses. By integrating with existing phone environments without requiring major infrastructure changes, KAIKURA uniquely bridges the gap between traditional telephony and modern digital communication.

As of FY2024, Thinca achieved:

• Revenue of ¥1.232 billion (+18.5% YoY), reaching an all-time high.
• A user base of 5,648 active sites (+25.3% YoY), with a monthly churn rate of only 0.33%.
• ARPA (Average Revenue Per Account) increased to ¥17,503 (+1.0% YoY).
• MRR (Monthly Recurring Revenue) totaled ¥1.036 billion (+16.9% YoY), representing 84% of total revenue.
• Operating profit of ¥78 million, a temporary dip due to one-time costs such as office relocation and IPO preparation.

Looking ahead to FY2025, Thinca forecasts:

• Revenue of ¥1.479 billion (+20.1% YoY).
• Active user site expansion through three key go-to-market strategies: direct sales to SMEs, OEM partnerships for micro-businesses, and enterprise collaborations with major distributors such as NTT Group, SB C&S, and Otsuka Corporation.
• Further monetization through ARPA growth, driven by the launch of “KAIKURA Phone”, SMS and video features, and upselling of premium options.
• New industry vertical expansions into healthcare, finance, and government.
• Continued product evolution, including enhanced AI summarization, omnichannel support, and advanced analytics to improve CS and ES (Customer/Employee Satisfaction).

By positioning itself as a trusted partner in business communication, Thinca aims to eliminate unnecessary communication burdens, reduce labor through automation, and foster more enjoyable and effective human interactions—making business, and life, more interesting through IT.

Thinca IPO Summary

Company Name	Thinca Corporation
Headquarters	3-3, Kanda Nishiki-cho, Chiyoda-ku, Tokyo
Website	https://www.thinca.co.jp/
Year of Establishment	2014/1/8
Listing Date	2024/3/27
Industry	Information and communication industry
Business Overview	Development, sales and other related operations for the communication platform “Kaikura”
Representative (CEO)	Takahiro Ejiri
Number of Employees	56 (as of 2024/1/31)
Stock Exchange	Tokyo Stock Exchange Growth
Auditor	Taiyo
Lead Underwriter	SMBC Nikko Securities
Market capitalization (at opening price)	5,279 million yen
PER (at opening price)	-33.05
Major shareholders (Top 3)	•Takahiro Ejiri (17.20%) •DCI Venture Growth Support LPS (16.72%) •Nandi Corporation (9.08%)

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