日本初创企业行业市场前景及投资研究报告-培训课件外文版2024.6

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TRENDSStartupsinJapanCHAPTER

01GlobaloverviewNumberofunicornsworldwideasofApril2023,byregionNumberofglobalunicornsinApril2023,byregion80069770060050040030020010004631652484NorthAmericaAsiaEuropeSouthAmericaOceaniaAfrica4Description:AsofApril2023,approcimatelyhalfofunicornsworldwidewereheadquarteredinNorthAmerica.ThetworegionsthathostedthefewestunicornswereOceania,andAfrica,with8and4unicornsbasedineachoftheseregions.Additionally,mostofthehighestvaluedunicornsgloballywerebasedinNorthAmericaorAsia.ReadmoreNote(s):Worldwide;April2023Source(s):HurunResearchInstituteLeadingcountriesforstartupsworldwidein2023,bytotalscoreLeadingcountriesforstartupsworldwide2023,bytotalscoreTotalscore020406080100120140160180200220UnitedStatesUnitedKingdomIsrael198.0851.2246.57Canada34.49Sweden27.0726.5725.94SingaporeGermanyFrance22.9221.5AustraliaNetherlandsSwitzerlandChina21.4221.1320.4918.37Finland5Description:TheUnitedStateswasbyfarthebestcountryforstartupsin2023,accordingtodataprovidedbyStartupBlink.Withatotalscoreof198.08,theU.S.hadalmostmorethanfourtimesasmanypointsasthesecondrankedUnitedKingdom,withascoreof51.22.Israelfollowedinthird.ReadmoreNote(s):Worldwide;2023Source(s):StartupBlinkLeadingcitiesforstartupsworldwidein2023,bytotalscoreLeadingcitiesforstartupsworldwide2023,bytotalscoreTotalscore0100200300400500600SanFranciscoNewYorkLondonLosAngelesBoston546.43223.41127.43116.94103.3499.02BeijingShanghaiBangaloreParis67.5764.2357.4856.7748.36TelAviv-YafoBerlinSeattleNewDelhi48.1944.566Description:SanFranciscowasbyfarthecityofferingthebestconditionsforstartupsworldwidein2023,accordingtodataprovidedbyStartupBlink.ThetotalscoreofSanFrancisco,amountingto546.43,wasmorethandoublethescoreofNewYork,whichwasrankedsecondthatyear.Londonfollowedinthird.ReadmoreNote(s):Worldwide;2023Source(s):StartupBlinkPercentageofpopulationinvolvedinbusinessstart-upsinAsiain2023,byselectedcountryorterritoryandgenderGenderdistributionofearly-stageentrepreneursAsia2023,bycountryPercentageofadultpopulationMaleFemale25%0%5%10%22.8%15%20%30%35%40%45%50%ThailandIndia24.5%14.6%12.7%9.3%SouthKoreaIndonesia*China7.7%7%9.2%6.3%7.3%3.6%Japan*9.1%6.9%Taiwan*4.3%7Description:Accordingtosurveysconductedin2023,womeninvolvedinearly-stageentrepreneurialactivityinThailandaccountedfor24.5percentoftheadultpopulation.Incomparison,Indiahadahigherproportionofthemalepopulationinvolvedinearly-stageentrepreneurialactivity,wheremenaccountedfor14.6percentandfemalesfor9.3percentofthetotaladultpopulationasof2023.ReadmoreNote(s):Asia,APAC;2023;about2,000percountry;18-64years;datawascomposedoftheAdultPopulationSurveyandtheNationalExpertSurvey;*Taiwan,Indonesia,andJapandataasof2022.Early-stageentrepreneursweredefinedasthe[...]

ReadmoreSource(s):GEMCumulativevalueoftechstartupexitsinEastAsiabetween2018and2022,byselectedcity(inbillionU.S.dollars)TechstartupexitvalueEastAsia2018-2022,bycityExitvalueinbillionU.S.dollars150

200050100250300350400450Beijing(China)Shanghai(China)Seoul(SouthKorea)Hangzhou(China)Guangzhou(China)Tokyo(Japan)417.91109.1993.5328.2524.1821.1316.4214.629.626.52Shenzhen(China)Wuxi(China)Nanjing(China)Taipei(Taiwan)Wuhan(China)Chengdu(China)Xiamen(China)6.234.511.468Description:Between2018and2022,thevalueforstartupexitsinBeijingamountedtoapproximately417.91billionU.S.dollars,byfarthehighestacrosstheselectedcitiesinEastAsia.Incontrast,thecumulativestartupexitvalueinKyotoreachedaround190milliondollarsduringthatperiod.ReadmoreNote(s):Asia;2018to2022Source(s):StartupGenomeCHAPTER

02BusinessenvironmentandentrepreneurshipRateofnewbusinessstartsinJapanfromfiscalyear2012to2021BusinessentryrateJapanFY2012-20215.8%5.6%5.6%5.6%5.4%5.2%5.0%4.8%4.6%4.4%4.2%4.0%5.2%5.1%4.9%4.8%4.6%20124.4%20184.4%20214.2%201920132014201520162017202010Description:Inthefiscalyear2021,thebusinessentryrateinJapanstoodat4.4percent,downfrom5.1percentinthepreviousfiscalyear.Thebusinessentryratereflectsnewbusinessesinagivenyearasapercentageofthetotalnumberofbusinessesattheendofthepreviousyearbasedonemploymentinsurancedata.ReadmoreNote(s):Japan;fiscalyear2012to2021;theJapanesefiscalyearstartsonApril1ofthestatedyearandendsonMarch31ofthefollowingyear;businessestablishmentswithemployeesSource(s):NationalInstituteofScienceandTechnologyPolicy;TheSmallandMediumEnterpriseAgencyRateofbusinessesclosingdowninJapanfromfiscalyear2012to2021BusinessclosurerateJapanFY2012-20214.2%4%4.0%3.8%3.8%3.8%3.6%3.4%3.2%3.0%3.7%3.5%3.5%3.5%3.4%20193.3%20203.1%2021201220132014201520162017201811Description:Inthefiscalyear2021,thebusinessclosurerateinJapanstoodat3.1percent,downfrom3.3percentinthepreviousfiscalyear.Thebusinessclosureratereflectsbusinessexitsinagivenyearasapercentageofthetotalnumberofbusinessesattheendofthepreviousyearbasedonemploymentinsurancedata.ReadmoreNote(s):Japan;fiscalyear2012to2021;theJapanesefiscalyearstartsonApril1ofthestatedyearandendsonMarch31ofthefollowingyear;businessestablishmentswithemployeesSource(s):NationalInstituteofScienceandTechnologyPolicy;TheSmallandMediumEnterpriseAgencyEvaluationofentrepreneurialenvironmentbasedontheGEMframeworkinJapanin2023EntrepreneurshipframeworkconditionsinJapan2023,byindicatorsScore(0=veryinadequateinsufficientstatus,10=veryadequatesufficientstatus)012345678PhysicalinfrastructureEaseofentry:marketdynamics6.76.5Governmentpolicy:support&relevanceEntrepreneurialfinance5.14.54.5Governmentpolicy:taxes&bureaucracyEntrepreneurialeducationatpost-schoolstageEaseofaccesstoentrepreneurialfinanceGovernmententrepreneurialprogramsCommercialandprofessionalinfrastructureEaseofentry:burdensandregulationResearchanddevelopment(R&D)transfersSocialandculturalnorms4.34.24.14.14.143.2Entrepreneurialeducationatschool2.212Description:In2023,Japan'sentrepreneurialenvironmentwasratedmostfavorablyintermsofphysicalinfrastructure,withascoreof6.7points.TheGEMentrepreneurialframeworkconditionsindexevaluatesacountry'sentrepreneurialenvironmentindifferentareasonascalefromzero(veryinadequateinsufficientstatus)to10(veryadequatesufficientstatus).ReadmoreNote(s):Japan;2023;36+experts;basedontheNationalExpertSurveySource(s):GEMLeadingcitiesforstartupcompaniesinJapanin2023,bytotalscoreLeadingcitiesforstartupsinJapan2023,bytotalscoreTotalscore05101520253035404550Tokyo-YokohamaAreaOsaka44.075.54Kyoto3.63Fukuoka2.441.180.55NagoyaSapporoSendai0.520.260.24HiroshimaTsukubaOkayama

0.1713Description:Withatotalscoreof44.07,theTokyo-YokohamaAreaofferedthebestbusinessenvironmentforstartupsinJapanin2023.Osakafollowedwithascoreof5.54.TheTokyo-YokohamaArearanked14thintheglobalrankingofstartupcities.

ReadmoreNote(s):Japan;2023Source(s):StartupBlinkLeadingreasonswhyentrepreneurshipisscarceinJapaninfiscalyear2022MajorreasonsforentrepreneurshipbeingrareinJapanFY2022Shareofrespondents0%

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55%47.9%Fearoffailure(ifyoufailtostartabusiness,itisdifficulttotryagain,etc.)Therearenoentrepreneursaround(onedoesnotknowthepathofentrepreneurship,etc.)21.5%Schooleducation(lowappreciationforcourageousbehavior,lackofeducationtoseekoutissues,etc.)9.1%9.1%Publicclimate(disapprovalifyoufail,lowdegreeofrespectevenifyousucceed,etc.)Familyeducation(parents'desireforsafetyandstability,preferenceforemploymentingovernmentofficesandlargecompanies,etc.)5.8%Others6.6%14Description:Accordingtoasurveyconductedinfiscalyear2022amongJapaneseventurebusinesses,oneoftheleadingreasonsforfewpeoplestartingabusinessinJapanwasfearoffailure.Whilefearoffailurewasareasonforalmost48percentofstartupssurveyed,over21percentregardedthelackofrolemodelsasanimportantfactor.ReadmoreNote(s):Japan;fiscalyear2022;theJapanesefiscalyearstartsonApril1ofthestatedyearandendsonMarch31ofthefollowingyear;121companies*;*Amongventurebusinessestablishedwithinfiveyearspriortothesurvey.

ReadmoreSource(s):MHLW(Japan);VentureEnterpriseCenterMostimmediatemanagementneedsofstartupcompaniesinJapanfromfiscalyear2018to2022MosturgentmanagementneedsofstartupsinJapanFY2018-2022Shareofrespondents15%0%5%10%20%25%30%35%40%FundingMarketexpansion33.5%26.2%Recruitment25.3%TechnologicaldevelopmentOthermanagementneedsNoparticularmanagementneeds10.3%2.6%2.1%15Description:FundingwasamongthemosturgentmanagementneedsofstartupsinJapaninthefiveyearsbetweenfiscalyear2018and2022.InsurveysconductedamongJapaneseventurebusinesses,anaverageof33.5percentsaidthatfundingwasanimmediatemanagementneed,whilemarketexpansionfollowedinsecondplacewith26.2percent.ReadmoreNote(s):Japan;fiscalyear2018to2022;theJapanesefiscalyearstartsonApril1ofthestatedyearandendsonMarch31ofthefollowingyear;113companies*;*Amongventurebusinessesestablishedwithinfiveyearspriortothesurvey.Values[...]

ReadmoreSource(s):MHLW(Japan);VentureEnterpriseCenterCHAPTER

03DomesticstartupsLeadingstartupsinJapanin2023,bycapitalraised(inbillionJapaneseyen)MajorstartupsinJapan2023,bycapitalraisedAmountofcapitalraisedinbillionJapaneseyen05101520252530ELIIYPowerMujin14.3JOSYS13.5CADDi11.811.110.610.510.2AstroscaleHoldingsGOKyotoFusioneeringLayerXTelexistenceFRDJapan9.79.717Description:Withatotalof25billionJapaneseyenofcapitalraised,ELIIYPowertoppedtherankingofleadingstartupsbasedonfundsraisedinJapanin2023.Mujinrankedsecondwithfundingreceivedamountingtoaround114.3billionyen.ReadmoreNote(s):Japan;2023;asofJanuary23,2024;includingestimates;only10leadingstartupsincludedSource(s):INITIAL,Inc.LargestpublicstartupcompaniesinJapanasofDecember2023,byinitialmarketcapitalization(inbillionJapaneseyen)MajorlistedstartupcompaniesinJapan2023,byinitialmarketcapitalizationMarketcapitalizationinbillionJapaneseyen0100200300400500600700800Mercari(2018/06)Nexon(2011/12)676.7556MTG(2018/07)Visional(2021/04)272.4254.5AppierGroup(2021/03)Safie(2021/09)202.7164.6163.4147.8HEROZ(2018/04)REPROCELL(2013/06)ANYCOLOR(2022/06)Sansan(2019/06)144.3142.5NetProtectionsHoldings(2021/12)PLAID(2020/12)132.9117.8116.6freee(2019/12)18Description:AsofDecember2023,MercariwasthelargestlistedstartupinJapanbasedoninitialmarketcapitalization,whichamountedto676.7billionJapaneseyen.ThefleamarketapplicationwasJapan'sfirstunicornandwentpublicinJune2018.

ReadmoreNote(s):Japan;December31,2023;startupswithaninitialmarketcapitalizationof100billionJapaneseyenormoreSource(s):INITIAL,Inc.;METI(Japan);SPEEDANumberofunicorncompaniesinJapanasofApril2023,byindustryNumberofunicornsinJapan2023,byindustry2.5222.01.51.00.50.011FintechArtificialintelligenceMobileandtelecommunicationOthers19Description:In2022,thereweresixunicorncompaniesinJapan.Twoofthemwereactiveinthefintechsector.UnicornsareunlistedstartupcompanieswithavaluationofonebillionU.S.dollarsormore.

ReadmoreNote(s):Japan;April7,2023Source(s):CBInsights;NationalInstituteofScienceandTechnologyPolicyLargestunicorncompaniesinJapanasofOctober2023,byenterprisevalue(inbillionU.S.dollars)MajorunicorncompaniesinJapan2023,byvaluationEnterprisevalueinbillionU.S.dollars1.00.00.51.52.022.5PreferredNetworksSmartNewsSmartHRSpiber221111GoPlaycoOpn20Description:AsofOctober2023,thereweresevenunicorncompaniesinJapan.Threeofthem,PreferredNetworks,SmartNews,andSmartHR,werevaluedataroundtwobillionU.S.dollars.UnicornsareunlistedstartupcompanieswithavaluationofonebillionU.S.dollarsormore.ReadmoreNote(s):Japan;October2023Source(s):CBInsights;METI(Japan)CHAPTER

04UniversitystartupsTotalnumberofuniversity-basedstartupsinJapanfromfiscalyear2014to2022UniversitystartupnumberJapanFY2014-20224,0003,5003,0002,5002,0003,7823,3052,9052,5662,2782,0931,8461,7731,7491,5001,0005000201420152016201720182019202020212022*22Description:Thenumberofuniversity-basedstartupsinJapanconsecutivelyincreasedinrecentyears,leadingtoatotalofapproximately3.8thousandsuchstartupsinfiscalyear2022.Thenumberofnewlyestablisheduniversity-launchedstartupsshowedadownwardtrendinrecentyears.ReadmoreNote(s):Japan;fiscalyear2014to2022;thefiscalyearstartsonApril1ofthestatedyearandendsonMarch31ofthefollowingyear;*AsofOctober2022.

Basedonasurveyconductedamongnational,public,andprivateuniversities(including[...]

ReadmoreSource(s):METI(Japan);TSRNumberofnewlyestablisheduniversitystartupsinJapanfrom2013and2022NumberofnewlyestablisheduniversitystartupsJapan2013-20223503003263172902902682502212041992001501005013112002013201420152016201720182019202020212022*23Description:About204university-basedstartupswerenewlyestablishedinJapanbetweenJanuaryandOctober2022.Thismarkedadecreasefromover290newlyestablisheduniversity-basedstartupsinthepreviousyear.Anupwardtrendwasobservedincaseoftheꢀtotalnumberofuniversity-launchedstartupsinJapan.ReadmoreNote(s):Japan;2013to2022;startupsactivelyoperatingasofOctober2022;*AsofOctober2022.

Basedonasurveyconductedamongnational,public,andprivateuniversities(includingjuniorcolleges),technicalcolleges,technologylicensing[...]

ReadmoreSource(s):METI(Japan);TSRShareofuniversity-basedstartupsinJapanin2022,bytypeDistributionofuniversitystartupsJapan2022,bytypeShareofstartups0%10%20%30%40%50%50.6%60%Researchresult-basedStudent-basedRelation24.6%12.7%JointresearchTechnologytransferUnknown9.3%2%0.8%24/statistics/895324/japan-university-based-startup-share-by-typeIn2022,closeto51percentofuniversity-basedstartupsinJapanwereresearchresult-based.Thismeansthattheywereestablishedwiththeaimofcommercializingpatentsandnewtechnologiesandbusinessmethodsꢀdevelopedatuniversities.

ReadmoreNote(s):Japan;2022;asofOctober;3,782respondentsSource(s):METI(Japan);TSRNumberofuniversity-basedstartupsinJapanin2022,byindustryUniversitystartupsJapan2022,byindustryNumberofstartups02004006008001,0001,2001,1461,400IT(software/applications)Bio-industry/healthcare/medicaldevicesManufacturing(excludingIThardware)Environmentaltechnology/energy1,126597318IT(hardware)315Chemistry,materials,andothernaturalsciences(excludingbiotechnology)Otherservices2711,31025Description:AsofOctober2022,closeto1,150thousanduniversity-basedstartupsinJapanwereengagedinthefieldofITsoftwareandapplications.Sincesomestartupswerepartofmorethanoneindustry,thenumberspresentedhereexceededtheꢀtotalnumberofuniversity-basedstartupsinJapan.ReadmoreNote(s):Japan;2022;asofOctoberSource(s):METI(Japan);TSRNumberofuniversity-basedstartupsinJapanin2022,bymajoruniversityNumberofuniversitystartupsinJapan2022,bymajoruniversityNumberofstartups050100150200250300350400TheUniversityofTokyoKyotoUniversity370264KeioUniversity236UniversityofTsukubaOsakaUniversity217191TohokuUniversity179TokyoUniversityofScienceNagoyaUniversity151137128WasedaUniversityTokyoInstituteofTechnologyKyushuUniversity119117RitsumeikanUniversityDigitalHollywoodUniversityGifuUniversity1101046666HiroshimaUniversity26Description:In2022,theUniversityofTokyohadthebiggestamountofuniversity-basedstartupsinJapan,370startupsoverall.FollowingwereKyotoUniversitywith264university-basedstartups,andKeioUniversitywith236.

ReadmoreNote(s):Japan;2022;asofOctoberSource(s):METI(Japan);TSRNumberofuniversity-basedstartupsinJapanin2022,byprefectureUniversitystartupnumberJapan2022,byprefectureNumberofstartups02004006008001,0001,2001,4001,600TokyoOsaka1,352271Kyoto235207KanagawaFukuokaAichi162161IbarakiMiyagi120112HokkaidoShizuokaChiba94797676HyogoShiga6927/statistics/895288/japan-university-based-startup-number-by-prefectureIn2022,thehighestnumberofuniversity-basedstartupsinJapan,1,352,wereestablishedinTokyoPrefecture,followedbyOsakaprefecturewith271startups.Overall,eightprefectureswerehometoover100university-basedstartupseachthatyear.ReadmoreNote(s):Japan;2022;asofOctoberSource(s):METI(Japan);TSRCHAPTER

05StartupfundingAmountofmoneyraisedbystartupcompaniesinJapanfrom2014to2023(inbillionJapaneseyen)AmountoffundsraisedbystartupsJapan2014to20231,2001,000800966.4869.2753.6612.2560.8600500.5364400258.92032000143.3201420152016201720182019202020212022202329Description:StartupcompaniesinJapanraisedaround753.6billionJapaneseyenin2023.TheꢀnumberofstartupsreceivingfundinginJapandeclinedcomparedtothepreviousyear.

ReadmoreNote(s):Japan;2014to2023;asofJanuary23,2024Source(s):INITIAL,Inc.NumberofstartupcompaniesreceivingfundsinJapanfrom2014to2023NumberofstartupsreceivingfundinginJapan2014-20234,0003,6943,6753,4003,3663,5003,0002,5002,0001,5001,0005003,2382,8282,5832,2032,0151,6690201420152016201720182019202020212022202330Description:ThenumberofstartupcompaniesreceivingfundinginJapanamountedtoover2.8thousandin2023,downfromabout3.7thousandinthepreviousyear.Atthesametime,theamountoffundstheyraisedbystartupsdeclinedyearonyear.

ReadmoreNote(s):Japan;2014to2023;asofJanuary23,2024Source(s):INITIAL,Inc.ValueofestablishedfundsforstartupsinJapanfrom2014to2023(inbillionJapaneseyen)ValueofstartupfundsestablishedinJapan2014-2023900800700600500770.7615.9596.9552.5547.3384.7400320.63002001000262.12015251.82017182.52014201620182019202020212022202331Description:In2023,thevalueofstartupfundsestablishedinJapanamountedto596.9billionJapaneseyen.Thetotalvalueofstartupfundshasincreasedmorethanthreefoldsince2014.

ReadmoreNote(s):Japan;2014to2023;asofJanuary23,2024;includesestimatedvaluesSource(s):INITIAL,Inc.NumberofestablishedfundsforstartupsinJapanfrom2014to2023NumberofstartupfundsestablishedinJapan2014-2023160149140120100801281181089290737267605140200201420152016201720182019202020212022202332Description:In2023,thenumberofstartupfundsnewlyestablishedinJapantotaled118.Thiswasthelargestnumberoffundsrecordedinthesurveyedperiod.Theꢀamountofcapitalraisedbynewstartupfundsdeclinedcomparedtothepreviousyear.

ReadmoreNote(s):Japan;2014to2023;asofJanuary23,2024Source(s):INITIAL,Inc.AmountofcapitalraisedbystartupcompaniesinJapanin2023,byscopeoffunding(inbillionJapaneseyen)FundingamountofstartupsinJapan2023,byscaleoffundingCapitalraisedinbillionJapaneseyen100

150050200250300Under100millionyen100milliontounder500millionyen500milliontounderonebillionyenOnetounderfivebillionyenFivetounder10billionyen43.4164130.5253.155.710billionyenormore106.933Description:In2023,startupfinancingwithavolumeofonetolessthanfivebillionJapaneseyenamountedtoatotalof253.1billionJapaneseyen.Thevalueofdealswithavolumeofover10billionyenreached106.9billionyen.

ReadmoreNote(s):Japan;2023;asofJanuary23,2024Source(s):INITIAL,Inc.NumberofstartupcompaniesreceivingfundsinJapanin2023,byscopeoffundingNumberofstartupsreceivingfundinginJapan2023,byscaleoffundingNumberofstartupsrecevingfunds400

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80002001,0001,2001,4001,3931,600Under100millionyen100milliontounder500millionyen500milliontounderonebillionyenOnetounderfivebillionyenFivetounder10billionyen7381911368810billionyenormore34Description:In2023,around1,393startupsreceivedfundingwithavolumeoflessthan100millionJapaneseyen.Eightcompaniesreceivedfinancingof10billionyenormore.ReadmoreNote(s):Japan;2023;asofJanuary23,2024Source(s):INITIAL,Inc.MajortypesofstartupinvestorsinJapanin2023,byshareoffundingamountMajortypesofstartupinvestorsinJapan2023,byshareoffundingamountShareofstartupfunding15%

20%0%5%10%25%30%35%40%45%VCCorporations40%24.3%FinancialinstitutionsOthers3.5%28.2%35Description:In2023,venturecapitalists(VCs)weretheleadingtypeofinvestorinstartupsinJapan,accountingfor40percentoftheamountofinvestments.Corporationsaccountedfor24.3percentofstartupinvestments.

ReadmoreNote(s):Japan;2023;asofJanuary23,2024Source(s):INITIAL,Inc.CHAPTER

06VenturecapitalTotalnumberofdomesticandoverseasventurecapital(VC)investmentdealsinJapanfrom2014to2023TotalnumberofdomesticandoverseasVCinvestmentdealsinJapan2014-20232,5002,0001,9941,7621,6831,6831,5351,4211,5001,00050001,3681,3341,063942201420152016201720182019202020212022202337Description:In2023,Japaneseventurecapital(VC)firmsreportedatotalof1,762investmentdeals.TheꢀvalueofVCinvestmentsindomesticandoverseascompaniesdeclinedyearonyear.

ReadmoreNote(s):Japan;2014to2023;totalofdomesticandoverseasinvestmentSource(s):VentureEnterpriseCenterTotalamountofventurecapital(VC)investmentindomesticcompaniesinJapanfrom2014to2023(inbillionJapaneseyen)TotalamountofdomesticVCinvestmentinJapan2014-2023300255250227.7216.2212.1200151.215010050135.8125.79573.864.60201420152016201720182019202020212022202338Description:In2023,venturecapital(VC)investmentindomesticcompaniesinJapanamountedtoapproximately212.1billionJapaneseyen.TheamountofinvestmentsmadebyJapaneseventurecapitalfirmsdeclinedfromadecadehighof255billionyeninthepreviousyear.ReadmoreNote(s):Japan;2014to2023Source(s):VentureEnterpriseCenterTotalamountofventurecapital(VC)investmentsinoverseascompaniesinJapanfrom2014to2023(inbillionJapaneseyen)TotalamountofoverseasVCinvestmentsinJapan2014-2023120100806040200113.785.37873.667.967.260.152.950.549.6201420152016201720182019202020212022202339Description:In2023,Japaneseventurecapital(VC)companiesmadeinvestmentswortharound73.6billionJapaneseyeninoverseascompanies.In2018,theamountofoverseasventurecapitalreachedpeakedat113.7billionyen.

ReadmoreNote(s):Japan;2014to2023Source(s):VentureEnterpriseCenterAmountofventurecapital(VC)andcorporateventurecapital(CVC)investmentinJapanfrom1stquarter2019to4thquarter2023,bytype(inbillionJapaneseyen)VCandCVCinvestmentamountinJapanQ12019-Q42023,bytypeVCinvestmentinoverseascompaniesVCinvestmentindomesticcompaniesCVCinvestmentinoverseascompaniesCVCinvestmentindomesticcompanies1201008060402007.44.64.63.53.72.322.95.7463.15363.42.14.24.52.72.3442.546.21.92.2275.32.21.83154.950.956.859.959.855.741.149.246.348.836.843.51.633.80.10.72.5183.41.50.817.90.816.91.116.134.21.7150.8160.915.81.414.61.513.80.614.90.714.30.1131.2121.121.419.916.817.911.79.5Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q42019

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202340Description:Inthefourthquarterof2023,venturecapital(VC)investmentsindomesticcompaniesmadebyJapaneseVCfirmsamountedto46billionJapaneseyen.VCinvestmentsinoverseascompaniesreached19.9billionyen.

ReadmoreNote(s):Japan;Q12019toQ42023;112VCfirms*;*NumberofJapaneseVCfirmswhichrespondedtothelatestsurvey.

100Japaneseyenequal0.67U.S.dollarsor0.61eurosasofMarch2024.

ReadmoreSource(s):VentureEnterpriseCenterRegionaldistributionofJapaneseventurecapital(VC)investmentsin4thquarter2023CompositionofVCinvestmentamountinJapanQ42023,byregionShareofinvestmentamount30%

40%0%10%20%50%60%70%80%JapanSoutheastAsiaNorthAmericaEurope71.6%8.1%6%5.4%China

0.3%OtherAsia8.6%41Description:Inthefourthquarterof2023,SoutheastAsiaaccountedfor8.1percentofJapaneseventurecapital(VC)investment.Domesticinvestmentsaccountedforaround71.6percentoftheoverallVCinvestment.

ReadmoreNote(s):Japan;Q42023;basedoninvestmentamountinJapaneseyenSource(s):VentureEnterpriseCenterDistributionofventurecapital(VC)investmentinJapanin4thquarter2023,byindustryCompositionofVCinvestmentamountinJapanQ42023,byindustryShareofinvestmentamount0%Computersandperipherals/ITservicesIndustrial/energy/others5%10%15%20%25%30%35%40%33.4%20.7%Biotechnol