Jiran Japan, which is celebrating its 20th anniversary this year, has been making a big splash in the Japanese software industry since its entry into the market in 2004. To date, it has transactions with over 15,000 Japanese companies and recorded sales of 1.47 billion won in 2020, exceeding 10% of the total sales of JiranFamily.
Jiran Japan operates six companies, including Direct Cloud and J Security, and has major companies such as Canon IT Solutions, Fujitsu, and SoftBank as its customers. In particular, Direct Cloud and J Security are in the process of IPO (initial public offering) with Nomura Securities, Japan’s largest securities company, and are expected to enter the “Growth Market” of the Tokyo Stock Exchange in 2025. (The Tokyo Stock Exchange is divided into three categories: “Prime” for large companies, “Standard” for medium-sized companies, and “Growth” for venture companies, depending on the size of the company.)
At first, it faced many difficulties, but Jiran Japan CEO Chi-young, Oh who is also the CDO of JiranFamily, overcame the crisis through on-site management and efforts. He made business trips to Tokyo two to three times a month and spent nearly half of his year in Japan to build relationships and networks. As a result of these efforts, Tripod Works, which started at a similar time and is still collaborating, is a representative example.
The difference between Japanese and Korean corporate cultures is evident in the details. Korea emphasizes speed, while Japan emphasizes meticulousness. Jiran Japan actively accepted and localized this Japanese culture. This allowed it to survive in the Japanese market, which has a large market size and the advantage of being able to sign long-term stable contracts.
The reason why JiranFamily chose Japan as its top overseas expansion base was the market size. Compared to the Korean market of 151 billion won, Japan is 6 times larger at 9.25 billion dollars, and is the third largest market in the world.
In the future, JiranFamily plans to expand its global presence with Japan as a hub. It plans to raise funds through a direct listing in Japan and directly invest in startups in the United States and Singapore. Through this, it aims to achieve its goal of “JAPAN TO GLOBAL.”
Source: https://www.asiae.co.kr/article/2023052310134108795