MIGARO

What MIGARO does

MIGARO Co., Ltd. (株式会社ミガロ．) is a privately-held Japanese software company founded in November 1991 and headquartered in Osaka, with a secondary office in Tokyo. The company is a domain specialist in IBM i (AS/400) modernization, operating as a self-described '100% IBMi Company' since 2000 and claiming the No.1 position in Japan's IBM i GUI/Web development tools market. Per company disclosures, MIGARO has supported core system construction for over 1,000 IBM i customers, with its flagship Delphi/400 product deployed at 700–750+ companies. The company is founder-led by President and Representative Director Kamikō Masataka (上甲 將隆), who has run it since inception.

MIGARO's product portfolio consists of three complementary IBM i modernization tools: Valence, a low-code development platform for IBM i Web and mobile applications built in three steps (data source, widget selection, app definition) with optional RPG augmentation for complex logic; Delphi/400, a visual component-based development environment based on Embarcadero Delphi that produces GUI/Web/multi-device applications targeting Windows, Android, and iOS; and Cobos4i (formerly SP4i), an RPG/COBOL-native web development tool that requires no Java coding and uses HTML for screens with all business logic in RPG/COBOL. Valence is developed by US-based CNX Corporation while Delphi/400 and Cobos4i originate from France-based SystemObjects, with MIGARO serving as the authorized Japanese distributor, localizer, and support provider for all three.

The company generates revenue through three streams: one-time software licenses for development and deployment of its three core tools; annual recurring maintenance contracts that bundle version updates, patches, license migration keys, exclusive support portal access, and technical support; and paid instructor-led training courses (e.g., 85,000 JPY per attendee for the 2-day Delphi Development Beginner Course). MIGARO sells directly through its Osaka headquarters and Tokyo office, and indirectly through a network of development partner companies that build end-client applications on its tools. Customer acquisition relies on free online seminars, web conference demos, technical content (Migaro.技術Tips blog with 10+ years of accumulated articles), and exhibition presence at industry events such as iEVO and IBM i Advantage.

Name

MIGARO

Legal name

株式会社ミガロ．

Website

https://migaro.co.jp

Company type

Private

Founded year

1991

Operating status

Operating

Headcount range

11–50 employees

Short description

MIGARO Co., Ltd. is a privately-held Japanese software company, founded in 1991 and headquartered in Osaka, that develops and distributes IBM i (AS/400) modernization tools — Valence, Delphi/400, and Cobos4i — to over 1,000 Japanese enterprises seeking to convert legacy 5250 green-screen applications into GUI, web, and mobile interfaces.

Ownership category

akta.pro rank

Product category

IBM i Application Modernization Software

NAICS

Computer Systems Design Services (541512)

SIC

Services-Computer Programming Services (7371), Services-Computer Integrated Systems Design (7373)

akta.pro primary industry

Custom Application Development (Web/Mobile/Desktop) (BPAEAFAA)

akta.pro secondary industry

Low-Code/No-Code Application Development & Modernization (BPAEAFAF)

Keywords

• IBM i modernization
• Legacy application tools
• Low-code development platforms
• RPG web development
• AS/400 GUI modernization

Headquarters

HQ city

Osaka

HQ country

Japan

HQ region

Asia

Offices2 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

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

Revenue model

1. Software Licenses (Valence, Delphi/400, Cobos4i): Sale of development and deployment licenses for IBM i modernization tools. Development licenses are per concurrent developer session; deployment licenses for runtime use are free for JC/400 and per-partition for SP4i/Cobos4i.
2. Maintenance Contracts: Annual maintenance programs providing version updates, patch delivery, license migration keys, exclusive support portal access, and technical support for Delphi/400 and SP4i/Cobos4i.
3. Training Courses: Paid instructor-led training courses including Delphi Development Beginner Course and Delphi/400 Development Basic Course, held in Osaka and Tokyo.

Pricing tiers

Go-to-market motion2 records

Distribution channels2 records

Marketing channels5 records

Core offering

MIGARO develops and sells three IBM i (AS/400) modernization development tools — Valence (low-code Web/mobile), Delphi/400 (visual GUI/multi-device), and Cobos4i (RPG/COBOL-native Web) — that enable enterprises to convert 5250 green-screen applications into responsive Web, GUI, and mobile interfaces without replacing their IBM i backend. The company complements these tools with annual maintenance contracts, paid instructor-led training courses, and commissioned custom IBM i system development services delivered from its Osaka headquarters and Tokyo office.

Product overview

MIGARO is a 100% IBM i company offering a portfolio of three core development tools for IBM i (AS/400) GUI, web, and mobile modernization: Valence (a low-code web/mobile platform), Delphi/400 (a visual development tool based on Embarcadero Delphi), and Cobos4i/SP4i (an RPG/COBOL-based web development tool). These tools enable customers to modernize green-screen applications without replacing their IBM i backend systems. MIGARO also provides developer training courses, technical support, and custom application development services.

Differentiator

Problem solved

Functional benefit

Products and services

• Valence Low-code development platform for rapidly building IBM i Web and mobile applications; apps are built in three steps (data source, widget selection, app definition) using grids, charts, and forms with responsive output across smart devices, with optional RPG code for complex functionality.
• Delphi/400 Visual component-based development environment for GUI, Web, and multi-device applications targeting IBM i, based on Embarcadero Delphi; integrates with RPG/COBOL/CL on IBM i and outputs to Windows, Android, and iOS via a multi-device designer.
• Cobos4i (formerly SP4i) IBM i Web application development tool requiring no Java coding; screens designed in HTML, all business logic written in RPG/COBOL, with auto-generated skeleton programs for Web-to-IBM i data transfer and an Eclipse-based IDE with PC5250 emulator plugin and standalone Web server.
• Delphi Development Beginner Course Paid 2-day beginner-level instructor-led training course teaching Delphi fundamentals and database application development from scratch, held in Osaka and Tokyo (operated for 15+ years).
• Delphi/400 Development Basic Course Paid 2-day intermediate-level instructor-led training course for Delphi/400 covering components, IBM i connection methods, and database application development, held in Osaka and Tokyo at 85,000 JPY per person (tax excluded).
• Annual Maintenance Contract (Delphi/400 and SP4i/Cobos4i) Annual maintenance program providing version updates, patch delivery, license migration keys, exclusive support portal access, and technical support for Delphi/400 and SP4i/Cobos4i customers.
• IBM i Contract System Development (System Construction) Commissioned custom IBM i system development services, especially GUI/Web modernization using Delphi/400 and SP4i and smart-device enablement of IBM i core systems, delivered using MIGARO's own development tools.

Quantifiable outcome

• Delphi/400 has been deployed at 700-750+ companies for IBM i GUI/Web modernization
• +1 more outcomes

Named customers2 records

Segments2 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration5 records

Feature3 records

Partnerships

Three partnerships are on record, tiered core.

• CNX Corporation (アメリカ)coreTechnology or IntegrationCNX Corporation (USA) is the developer of Valence. MIGARO serves as the authorized distributor and Japanese localization partner for Valence, handling Japanese language adaptation, documentation, and sales/support in Japan.
• SystemObjects社 (フランス)coreTechnology or IntegrationSystemObjects (France) is the original developer of Delphi/400 and SP4i/Cobos4i. MIGARO handles Japanese localization, documentation creation, and sales/support for their products in the Japanese market.
• Development Partners (Japanese companies)coreChannel Partner/ Reseller/ DistributorMIGARO recruits development partners who use Delphi/400, SP4i, and Valence to build end-user IBM i modernization applications. Partners benefit from technical support, training, and sales enablement from MIGARO.

Scale indicators4 records

Recent moves6 records

Expansion highlights5 records

Others

• Embarcadero Technologies: Embarcadero is the developer of the Delphi IDE platform that underlies MIGARO's Delphi/400; it is an enabler/supplier relationship rather than a direct IBM i modernization competitor in MIGARO's niche.
• CNX Corporation: CNX is the US-based developer of Valence, making it an upstream technology partner/supplier to MIGARO rather than a direct competitor in the Japanese market where MIGARO is the authorized distributor.

Direct peers

• Profound Logic: Profound Logic offers Profound UI and related tools for IBM i (AS/400) web and mobile modernization, directly competing with MIGARO's Valence, Delphi/400, and Cobos4i in the same Japanese-style green-screen modernization market.
• Fresche Solutions: Fresche Solutions provides an IBM i modernization suite (including legacy BCD WebSmart products and application analysis tools) that competes head-to-head with MIGARO's IBM i web/GUI/mobile modernization portfolio.
• LANSA: LANSA offers low-code application development with strong IBM i support (a+R, RAMP), directly comparable to MIGARO's Valence low-code platform for IBM i modernization.

Broad incumbents

• Fortra (formerly HelpSystems): Fortra/HelpSystems is a broad enterprise IT provider with substantial IBM i security, automation, and modernization offerings that overlap with MIGARO's IBM i-focused tools from a wider portfolio perspective.
• Rocket Software: Rocket Software is a large incumbent with multiple IBM i heritage product lines (including modernization tools and RDBMS) that overlap with MIGARO's IBM i development tooling category.

Emerging players

• Eradani: Eradani provides IBM i web services, APIs, and integration tooling, competing for a share of the same IBM i modernization wallet that MIGARO targets with Valence, Delphi/400, and Cobos4i.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xx.com/migaro_official

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 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 MIGARO