What SOICO does

SOICO株式会社 (SOICO Inc.) is a Tokyo-based financial advisory and consulting firm founded on January 29, 2018, by 茅原淳一 (Junichi Kayahara, CEO, a certified public accountant with prior experience at Goldman Sachs Investment Banking and KLab) and 土岐彩花 (Ayaka Doki, COO, a UC Berkeley Haas graduate who started ventures at age 19 before joining Goldman Sachs). The firm provides capital policy and equity compensation consulting primarily to Japanese startups (seed through pre-IPO) and listed companies (Growth to Prime Market), addressing pain points around equity incentive design, talent attraction, IPO preparation, and corporate governance code compliance. Its core proprietary asset is the registered "Time Capsule Stock Option®" (タイムカプセルストックオプション®), a trust-type stock option scheme that allows stock options to be aggregated into a trust at issuance, freezing the exercise price, with point-based allocation to employees over time — solving late-stage dilution and beneficiary assignment problems inherent in conventional stock options.

The company's revenue is generated through three streams: (1) project-based professional services fees for stock option design, equity compensation consulting (RS, RSU, PSU, trust-type SO), corporate governance advisory, IPO preparation, and capital policy work; (2) executive recruitment and matching, including the part-time "Sharing CFO®" platform and full-cycle placements via SOICO Agent, supported by the 400+ member CFO Connect community; and (3) subscription software (SOICO Accounting at 100,000 JPY initial + 29,800 JPY/month, and lagoona, a kintone-based cloud operations tool distributed through partner No.1). Go-to-market is consultative and content-driven: gated white papers (notably the "Stock Option Breakdown" series, Vol. 1-11), free monthly webinars, a Timerex-booked individual consultation system with six advisory tracks, and event sponsorships (IVS, B dash Camp, Startup World Cup). SOICO reports having supported more than 800 startup and venture companies, 100+ trust-type stock option engagements, and approximately 120 listed companies on equity compensation, with IPO support track records including AnyMind Group, TMS (TSE 4891, November 2022), monoAI technology (TSE Growth, December 2022), and Renewable Japan.

In September 2025, SOICO completed a management buyout led by founding members and relocated its headquarters to Shinjuku NS Building 21F, following the October 2023 establishment of subsidiary SOICO Consulting Inc. for integrated startup support (company formation, talent, finance) bundled with newly created SOICO judicial scrivener and administrative scrivener firms. The firm operates exclusively in Japan and depends on a referral network of accounting firms, law firms, M&A advisors (No.1, Fisco, Aizawa Securities, Decillion Capital, M&A DX), and a capital/business partnership with IPO cloud provider Uniforce (November 2024).

Name

SOICO

Legal name

SOICO株式会社

Website

https://soico.jp

Company type

Private

Founded year

2018

Operating status

Operating

Headcount range

1–10 employees

Short description

SOICO is a Tokyo-based consulting firm providing capital policy, equity compensation, IPO preparation, and CFO/executive recruitment services to Japanese startups and listed companies, anchored by its proprietary registered Time Capsule Stock Option® trust-type scheme.

Ownership category

akta.pro rank

Product category

Financial & Equity Compensation Consulting

NAICS

Management Consulting Services (54161), Management, Scientific, and Technical Consulting Services (5416)

SIC

Services-Engineering, Accounting, Research, Management (8700), Investment Advice (6282)

akta.pro primary industry

Outsourced Finance & CFO Services (BPAHABAE)

akta.pro secondary industries

Finance, Accounting & Audit Staffing (BPACADAM), Order-to-Cash (O2C) Operations (Order Admin, Credit, Invoicing, Collections Handoff) (BPAAAGAK)

Keywords

• Equity compensation consulting
• Venture finance advisory
• CFO recruitment services
• IPO preparation support
• Stock option valuation

Headquarters

HQ city

Tokyo

HQ country

Japan

HQ region

Asia

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Marketing or Sales, Operations, Technology or R&D, Infrastructure

Revenue model

1. Consulting & Advisory Fees (Capital Policy & Equity Compensation): Revenue is generated through project-based consulting engagements for stock option design, trust-type stock option issuance support, corporate governance advisory, IPO preparation support, and capital policy advisory. Fees are charged per engagement or as a retainer for ongoing advisory.
2. Talent Matching & Recruitment (シェアリングCFO, SOICOエージェント): Revenue from matching CFOs and management-level finance professionals to companies requiring part-time or project-based CFO services (Sharing CFO), and full-cycle executive recruitment for CFO and management department roles.
3. Software / SaaS (SOICO会計 / lagoona): Revenue from the SOICO Accounting cloud service (for small business tax document management) and lagoona cloud business management service developed on kintone, sold through No.1 company. Initial fee plus recurring monthly subscription.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels6 records

Core offering

SOICO is a Tokyo-based consulting firm that designs and implements equity compensation schemes (including its proprietary trust-type "Time Capsule Stock Option®"), capital policy advisory, IPO preparation support, and CFO/executive recruitment for Japanese startups and listed companies. The firm also operates matching platforms for part-time CFOs (Sharing CFO®) and female outside directors (JOTORY®), runs the CFO Connect community, and sells SME cloud accounting/operations tools (SOICO Accounting, SOICO Ordering, lagoona).

Product overview

SOICO offers a portfolio of professional services for startups and listed companies focused on capital policy, equity compensation, and financial talent. Core products include: the Time Capsule Stock Option® (trust-type stock option scheme) for deferred employee allocation; Sharing CFO® for part-time CFO matching; the Stock Compensation Package® for listed company equity plan design; SOICO Accounting (cloud tax/cloud record management) and SOICO Ordering for SMEs; CFO Connect community platform; JOTORY® for female outside director matching; and the Zebra Company Creation Support service covering the full startup lifecycle from founding to exit. SOICO also offers venture support (stock options, capital policy, fundraising, IPO), executive recruitment, corporate governance consulting, and stock valuation services. The company runs its own subsidiary SOICO Consulting for one-stop startup support and partners with No.1 for the lagoona kintone-based cloud operations tool.

Differentiator

Problem solved

Functional benefit

Brands

• タイムカプセル ストックオプション®: Trust-type stock option scheme that preserves option conditions (exercise price) at time of issuance, allowing later assignment to employees hired after issuance.
• シェアリングCFO®
• 株式報酬制度パッケージ®
• ジョトリー (JOTORY®)
• SOICO会計

Products and services

• Venture Support (ベンチャー支援) Full-service venture finance advisory covering stock option issuance support, capital policy design, debt and equity fundraising, and IPO preparation for Japanese startups and growth-stage companies.
• Time Capsule Stock Option® (タイムカプセル ストックオプション) Proprietary trust-type stock option scheme that preserves favorable option terms at issuance by holding them in a trust, allowing deferred point-based allocation to employees based on actual performance. Registered trademark.
• Sharing CFO® (シェアリングCFO) CFO matching platform connecting startups and growth companies with professional CFO candidates for part-time or project-based engagement. Initial consultation is free; engagement fees are quote-based.
• Stock Compensation Package® (株式報酬制度パッケージ) Comprehensive equity compensation design, implementation, and ongoing administration service for listed companies, supporting comparison of multiple plans (RS, RSU, PS, PSU, trust-type SO) and executive incentive alignment.
• Corporate Governance Consulting (コーポレートガバナンスコンサルティング) Advisory on Corporate Governance Code adoption, governance guideline development, board structure design, and executive compensation structure for listed companies.
• Stock Compensation Consulting (株式報酬制度コンサルティング) Design and implementation support for stock-based compensation plans for listed company executives, including mid-to-long-term incentive structures.
• Stock Valuation / Stock Option Evaluation (株価算定・ストックオプション評価) Fair value evaluation of stock options and valuation of unlisted company shares, performed by certified public accountants and data scientists.
• CFO Connect (シーエフオーコネクト) Japan's first growth-company CFO community providing networking, educational content, monthly seminars, workshops, and a closed career information board. Over 400 registered members.
• SOICO Agent (SOICOエージェント) Recruitment service specializing in CFO, accounting, finance, and back-office management positions. Offers exclusive unlisted company positions not available through general recruitment agents.
• JOTORY® (ジョトリー) Matching service connecting companies with female outside director and outside auditor candidates, addressing board diversity requirements under Japan's Corporate Governance Code.
• Zebra Company Creation Support (ゼブラ企業の創出サポート) Comprehensive support service for Zebra Companies (sustainable-growth ventures) covering startup, fundraising, HR, equity compensation, IPO preparation, and M&A from founding through exit.
• SOICO Accounting (SOICO会計) Cloud tax filing and records management service for small businesses. Initial fee 100,000 JPY; monthly fee 29,800 JPY (excluding tax); eligible for IT introduction subsidies.
• SOICO Ordering (SOICO受発注) Cloud order management service for small businesses, part of SOICO's SME-focused cloud software portfolio.
• lagoona (ラグーナ) Small business cloud operations management service built on Cybozu kintone covering sales pipeline, invoicing, accounts receivable/payable, and e-invoice compliance. Distributed through partner No.1.

Named customers11 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

Ten partnerships are on record, tiered core and minor.

• Uniforce株式会社 (Uniforce Inc.)coreStrategic or Co-development Partner · 28 November 2024SOICO and Uniforce entered a capital and business partnership in November 2024. Uniforce provides an IPO preparation cloud platform and consulting. The partnership enables mutual client referrals: Uniforce refers IPO-prep clients to SOICO for equity compensation design, while SOICO refers clients to Uniforce for IPO cloud and internal control support. The partnership combines Uniforce's governance and cloud expertise with SOICO's capital policy and stock compensation design knowledge.
• 株式会社SOICOコンサルティング (SOICO Consulting Inc.)minorStrategic or Co-development Partner · 2 October 2023SOICO established SOICO Consulting Inc. as a new subsidiary in October 2023 to provide integrated startup support combining company formation, talent recruitment, and finance consulting under one roof. New SOICO Judicial Scrivener and Administrative Scrivener firms were also established, with No.1 Tax & Social Insurance firm as a strategic partner.
• No.1税理士法人・社会保険労務士法人 (No.1 Tax & Social Insurance Firm)coreImplementation/ SI/ Consulting Partner · 2 October 2023SOICO entered a business collaboration agreement with No.1 Tax & Social Insurance Firm, under which No.1 provides tax and labor law services to SOICO's startup and venture clients. No.1 also serves as the distributor for SOICO's lagoona cloud business management software and the SOICO Accounting service. The partnership enables bundled service delivery for IPO-prep and growing companies.
• 株式会社インフォネット (Infonet Inc.)minorGTM or Marketing Partner · 24 October 2022SOICO and Infonet signed a sales agent agreement in October 2022. Infonet, which provides CMS-based IR website development services, combines its web expertise with SOICO's capital policy and IR strategy knowledge to offer comprehensive IR support services to listed and IPO-stage companies.
• 株式会社IFA LeadingminorGTM or Marketing Partner · 15 September 2022SOICO partnered with IFA Leading in September 2022 to strengthen support for startup and venture company challenges including talent retention, evaluation systems, and owner-level capital policy and asset management. IFA Leading promotes SOICO's equity compensation and capital policy services to its financial advisory clients.
• 株式会社M&A DXminorStrategic or Co-development Partner · 8 August 2022SOICO partnered with M&A DX in August 2022 to support the rollout of M&A-Ready Stock Option contracts. M&A DX provides M&A, inheritance, and business succession services. The partnership helps SOICO reach venture clients earlier in their lifecycle and supports M&A DX clients with equity compensation design for exits.
• Decillion Capital株式会社 (Decillion Capital Inc.)minorStrategic or Co-development Partner · 3 August 2021SOICO partnered with Decillion Capital in August 2021 to provide integrated support solving the three major challenges of venture companies: talent shortage, fundraising, and capital policy. Decillion Capital operates an M&A platform and provides succession planning services, which complement SOICO's capital policy expertise.
• 株式会社フィスコ・コンサルティング (Fisco Consulting Inc.)minorStrategic or Co-development Partner · 26 March 2021SOICO entered a business partnership with Fisco Consulting in March 2021 for the Stock Compensation Package service. The partnership combines Fisco Consulting's capital market advisory expertise with SOICO's equity compensation scheme design capabilities.
• アイザワ証券グループ (Aizawa Securities Group)coreStrategic or Co-development Partner · 2 November 2020SOICO and Aizawa Securities Group co-developed an 'M&A-Ready Stock Option Agreement' combining SOICO's equity compensation design expertise with Aizawa Securities' securities administration capabilities, enabling tax-qualified stock option treatment to be maintained even when options are exercised pre-IPO in an M&A context.
• 株式会社フィスコ (Fisco Co., Ltd.)coreTechnology or Integration · 6 August 2019SOICO entered a business partnership with Fisco in August 2019 for the provision of the Time Capsule Stock Option service. Fisco's financial information infrastructure and market expertise complement SOICO's scheme design capabilities, enabling joint service delivery for trust-type stock option consulting engagements.

Scale indicators7 records

Recent moves9 records

Expansion highlights5 records

Emerging players

• Decillion Capital Inc. M&A platform and succession-planning firm partnered with SOICO since August 2021 to solve venture challenges around talent, fundraising, and capital policy. Comparable in providing integrated exit and capital advisory for Japanese growth companies.
• M&A DX: Japanese M&A, inheritance, and business succession services firm that partnered with SOICO in August 2022 to roll out M&A-Ready Stock Option contracts. Comparable as a referral partner serving venture and SMB clients needing equity-compensation design at exit.

Direct peers

• Fisco Co., Ltd. Japanese financial information and capital-markets advisory firm with a long-running business partnership with SOICO to distribute Time Capsule Stock Option services. Directly overlaps in equity-compensation consulting and capital-policy advisory for Japanese venture and listed companies.
• Aizawa Securities Group: Japanese regional securities firm with which SOICO co-developed the M&A-Ready Stock Option agreement. Operates in adjacent capital-markets, securities administration, and equity-compensation design for Japanese corporate clients.
• Uniforce Inc. Provides an IPO-preparation cloud platform and consulting; entered a capital and business alliance with SOICO in November 2024. Operates at the same intersection of IPO-readiness and equity-compensation for Japanese venture clients, and reciprocally refers clients with SOICO.

Others

• No.1 Co., Ltd. Japanese SMB-focused services group (tax, social insurance, and small-business support) that distributes SOICO's lagoona and SOICO Accounting cloud products. Comparable as a go-to-market channel and ecosystem partner for SMB clients of SOICO's software offerings.
• Business Breakthrough (BBT) / BBT University Group: Japanese executive education and corporate training group with adjacent content/IP around management and CFO development; comparable as an ecosystem player in Japanese CFO talent and management education, though not a direct consulting competitor.

Broad incumbents

• Deloitte Tohmatsu (Deloitte Japan): Big Four professional services firm providing IPO advisory, governance, and equity-compensation consulting to Japanese listed and pre-IPO companies. Competes with SOICO at the larger end of the equity-compensation and governance consulting market with broader portfolio offerings.
• Wantedly, Inc. Larger Japanese HR-tech platform offering recruitment and employer-branding tools; competes with SOICO's CFO/executive-matching and Sharing CFO products in the broader talent-matching space, though not in equity-compensation consulting.

Regional players

• Infonet Inc. Japanese IR-website and corporate communications provider that signed a sales agency agreement with SOICO in October 2022. Adjacent in capital-markets and IR support services for listed and IPO-stage Japanese companies.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/soico_official
• Facebookfacebook.com/SOICO%E6%A0%AA%E5%BC%8F%E4%BC%9A%E7%A4%BE-649747982030597
• LinkedInlinkedin.com/company/soico

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about SOICO