ZeLo FAS

What ZeLo FAS does

ZeLo FAS株式会社 is a Tokyo-based professional services firm founded in September 2020 that delivers M&A advisory, IPO support, and corporate valuation services primarily to Japanese startups, venture companies, and SMEs. The firm is structured as a one-stop professional services provider that integrates financial advisory (financial and tax due diligence, FA, M&A process outsourcing), IPO preparation (CFO functions, internal controls, finance support), and valuation services (stock pricing, stock option design, PPA) under a single engagement umbrella, complemented by affiliated group firms — Law Firm ZeLo (法律事務所ZeLo) and ZeLo Tax Corporation (税理士法人ZeLo) — for legal and tax expertise.

The firm's go-to-market is sales-led and content-driven: it operates three owned-media platforms — MASTERZ (M&A process support site), Valuationz (valuation practitioner commentary), and Startup Finance Lab (startup finance and capital policy database) — to generate inbound leads, complemented by professional referrals and a categorized website inquiry form. Revenue is generated through project-based professional services fees (with indicative valuation fees of 50–150万円 per engagement), targeted at two primary use-case segments: startups pursuing IPO and companies executing M&A transactions on either buy- or sell-side.

Technically, the firm positions itself around "IT tools cross-functional utilization combined with proprietary self-developed services" to deliver speed and quality. Concrete proprietary technology details are not disclosed beyond this positioning. The firm is METI-registered as a Small/Medium M&A Support Institution and has declared compliance with the latest Small/Medium M&A Guidelines (Version 3, November 2024). Leadership is led by Representative Director Tatsuya Fukano (CPA and Tax Accountant) with cross-firm representation at ZeLo Tax Corporation, and Board Director Koichi Kitada (Attorney at Law Firm ZeLo), creating a tightly integrated professional services group.

Name

ZeLo FAS

Legal name

ZeLo FAS株式会社

Website

https://zelo-fas.com

Company type

Private

Founded year

2020

Operating status

Operating

Short description

ZeLo FAS is a Tokyo-based professional services firm founded in 2020 that provides M&A advisory, IPO support, and corporate valuation services to Japanese startups and SMEs, integrating accounting, legal, and tax expertise through affiliated ZeLo group firms.

Ownership category

akta.pro rank

Headquarters

HQ city

Tokyo

HQ country

Japan

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. M&A Advisory Services: Financial advisory, due diligence, and deal support services for M&A transactions including buy-side and sell-side mandates. Revenue generated through project-based advisory fees.
2. IPO Support Services: Comprehensive IPO preparation support including CFO services, internal control development, financial reporting systems, and regulatory compliance. Revenue through consulting service fees, potentially retainer-based for ongoing engagements.
3. Valuation Services: Stock price valuation, stock option design and evaluation, and PPA (Purchase Price Allocation) services. Pricing is project-based with indicative fees of 50-150万 JPY for stock price valuation and 50-150万 JPY for share subscription rights evaluation.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

ZeLo FAS is a professional services firm providing M&A advisory (financial/tax due diligence, FA services, and M&A process outsourcing), IPO support (IPO process outsourcing, equity/debt finance support, and venture CFO functions), and valuation services (stock price calculation, stock option design and evaluation, and Purchase Price Allocation). The firm delivers these services through certified public accountants and lawyers, coordinating with affiliated ZeLo group legal and tax firms to provide one-stop financial, legal, and tax advisory for Japanese companies and startups.

Product overview

ZeLo FAS is a professional services firm offering a portfolio of three core services: M&A advisory (including financial/legal due diligence and FA), IPO support (including CFO services and process outsourcing), and Valuation (stock pricing, stock options, PPA). The firm operates three sub-brand platforms: MASTERZ for end-to-end M&A process outsourcing, Valuationz as a practical valuation knowledge site, and Startup Finance Lab as a startup finance media portal. These are complemented by legal and tax services through affiliated ZeLo group firms to deliver integrated one-stop professional services.

Differentiator

Problem solved

Functional benefit

Products and services

• M&A Service (M&Aサービス) Comprehensive M&A advisory for buy-side and sell-side transactions, including financial due diligence, tax due diligence, FA (Financial Advisory) services, and full M&A process outsourcing. Targeted at companies and startups undertaking mergers, acquisitions, divestitures, and small/medium M&A.
• IPO Support (IPO支援) One-stop IPO support including IPO process outsourcing, equity and debt finance support, and venture CFO functions. Targeted at startups and venture companies preparing for an initial public offering that need coordinated financial, legal, tax, internal control, and reporting assistance.
• Valuation (バリュエーション) Corporate valuation services including stock price calculation, stock option design and evaluation, and Purchase Price Allocation (PPA) for business combinations. Targeted at listed and unlisted companies requiring independent expert valuations for equity financing, incentive plans, and M&A.
• MASTERZ (マスターズ) M&A comprehensive support platform that provides outsourced M&A process services from sourcing through due diligence, valuation, and SPA (Share Purchase Agreement) deal support. Targeted at companies and startups executing M&A transactions.

Segments3 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

Two partnerships are on record, tiered core and minor.

• 株式会社WARCcoreStrategic or Co-development Partner · 17 November 2020Business alliance to provide trust-type stock option introduction support services for startups. The partnership combines ZeLo FAS's valuation expertise with WARC's startup support capabilities to deliver high-quality and properly-priced stock option services to emerging companies.
• BluePartners株式会社minorStrategic or Co-development PartnerCorporate partnership under ZeLo FAS partnership program. BluePartners specializes in M&A support and growth support for startups and business owners, providing additional capacity for deal execution within the ZeLo network.

Scale indicators4 records

Recent moves3 records

Direct peers

• Yamada Consulting Group: Japan-based consulting group providing M&A advisory, business succession, and management consulting services. Overlaps with ZeLo FAS in serving Japanese SMEs and founders with transaction-oriented advisory plus broader professional services.
• M&A Capital Partners: Tokyo-based M&A advisory firm specializing in SME and mid-market transactions. Comparable to ZeLo FAS in Japanese M&A intermediation focus, professional services delivery model, and target deal size range.
• Nihon M&A Center: Japan's largest dedicated SME M&A intermediary, operating a broker network model for buy-side and sell-side mandates. Highly comparable to ZeLo FAS in targeting Japanese SME M&A advisory, though at significantly greater scale and with nationwide coverage.
• IGPI (Industrial Growth Platform): Japan-based management consulting and investment advisory firm engaged in M&A, turnaround, and IPO support. Comparable to ZeLo FAS in providing multi-disciplinary advisory to Japanese growth-stage companies and corporates.
• Frontier Management: Japanese M&A advisory and consulting firm offering deal sourcing, valuation, and post-merger integration. Comparable to ZeLo FAS in combining M&A advisory with adjacent professional services for Japanese mid-market and growth-stage companies.

Broad incumbents

• ABeam Consulting: Japan-headquartered strategy and management consulting firm with M&A and corporate transformation practices. Comparable to ZeLo FAS in serving Japanese enterprises with cross-functional advisory including deal-related support.
• PwC Advisory Japan: Big 4 advisory practice in Japan offering deals, valuation, and IPO advisory services. Comparable to ZeLo FAS on valuation and IPO-support functionality, but competes from a position of much greater scale and brand.
• Deloitte Tohmatsu Financial Advisory: Big 4 financial advisory arm in Japan delivering M&A, valuation, IPO readiness, and corporate finance services. Comparable functionality to ZeLo FAS in IPO support and valuation but as part of a much broader professional services portfolio.
• Houlihan Lokey (Japan, formerly GCA): Global investment bank with strong Japan M&A advisory presence following the GCA acquisition. Comparable to ZeLo FAS in providing M&A advisory and valuation services, but at materially larger scale and international scope.
• KPMG FAS Japan: Big 4 deal advisory practice in Japan offering M&A advisory, valuation, and due diligence. Overlaps with ZeLo FAS's M&A, valuation, and transaction services but operates at much larger scale and broader portfolio.

Market position

Strengths5 records

Weaknesses5 records

Key risks7 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/profile.php

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

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 ZeLo FAS