IPS

What IPS does

IPS, Inc. is a Tokyo Stock Exchange Prime Market-listed holding company (ticker 4390) operating across Japan and the Philippines in three segments: global telecommunications, domestic telecommunications, and medical/healthcare. The global telecom business, run through Philippine subsidiary InfiniVAN, Inc., owns and leases capacity on international submarine cables (C2C, PDSCN, and planned Candle) and provides enterprise broadband and fiber-optic infrastructure to corporate clients, CATV operators, and carriers in the Philippines, supported by a congressional franchise and NTC provisional authority. The domestic telecom business, operated through IPS Pro, Inc. under the LIPSE brand, sells call-center voice solutions, second-based billing services, and the AmeyoJ CTI platform to Japanese enterprise customers. The medical and healthcare segment runs Shinagawa Lasik & Aesthetics clinics (BGC and Ortigas) and the Shinagawa Diagnostic & Preventive Care Center, delivering Japanese-standard aesthetic, refractive, and preventive diagnostic services to middle-to-upper-income patients in Metro Manila.

The company generates revenue predominantly from recurring subscription and usage-based fees: wholesale international bandwidth to Philippine carriers/CATVs, enterprise broadband subscriptions in Metro Manila CBDs (Makati, Ortigas, BGC) at roughly half incumbent pricing, monthly recurring voice and call-center services in Japan, and per-visit healthcare fees in the Philippines. Capital intensity is high — IPS has built proprietary submarine cable infrastructure, railway-adjacent fiber networks, and physical clinics — while commercial intensity is moderate, with direct enterprise sales in the Philippines, direct corporate sales via IPS Pro in Japan, and walk-in retail for medical services.

IPS Group consolidated revenue reached ¥15,264M for the fiscal year ending March 2025 (approximately US$100M). Headcount across the group stood at 822 as of March 2025, declining to 757 by September 2025. The company was founded in October 1991, listed on TSE Mothers in June 2018, moved to First Section in December 2020, and transferred to Prime Market in April 2022. Founder Koji Miyashita remains CEO and largest shareholder with 41.14% ownership, with the Candle cable system (planned 2028) and Baler Cable Landing Station (planned late 2026) representing the largest near-term capital deployment catalysts.

Name

IPS

Legal name

株式会社アイ・ピー・エス

Website

https://ipsism.co.jp

Company type

Public

Founded year

1991

Operating status

Operating

Headcount range

51–100 employees

Short description

IPS, Inc. is a Tokyo Stock Exchange Prime Market-listed company operating international and domestic telecommunications plus healthcare businesses, primarily serving Philippine carriers, CATV operators, and Metro Manila enterprises through subsidiary InfiniVAN, Japanese call-center operators via IPS Pro, and Metro Manila patients through Shinagawa clinics.

Ownership category

akta.pro rank

Product category

Telecommunications Services

NAICS

Wired and Wireless Telecommunications Carriers (except Satellite) (51711)

SIC

Telephone Communications (No Radiotelephone) (4813), Services-Telephone Interconnect Systems (7385)

akta.pro primary industry

IP Transit & Internet Backbone (Tier-1/2, peering, DIA) (HDAIAEAA)

Keywords

• International telecommunications services
• Submarine cable infrastructure
• Broadband internet services
• Call center solutions
• Medical healthcare services

Headquarters

HQ city

Tokyo

HQ country

Japan

HQ region

Asia

Offices8 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. International Telecommunications: Provides international communication lines connecting the Philippines with Hong Kong, Singapore, and other countries. Revenue is generated by selling international bandwidth capacity to CATV operators and other telecommunications carriers in the Philippines. Became the third-largest international data carrier in the Philippines after acquiring C2C submarine cable rights in 2020. Also operates as a 'Carriers' Carrier' — leasing lines to other telecom operators. PDSCN and C2C cables form the infrastructure backbone.
2. Domestic Broadband Internet (Philippines): Enterprise ISP services in Metro Manila (Luzon) and fiber-optic infrastructure services to regional operators in Mindanao and Panay islands, via subsidiary InfiniVAN. Provides high-speed broadband to corporate customers at competitive prices targeting replacement of incumbent carriers. Also provides fiber infrastructure to CATV operators.
3. Domestic Telecom Services (Japan): Voice communication services and call center solutions for Japanese corporate clients, operated through subsidiary IPS Pro. Includes automated call center and customer management (AmeyoJ), second-based billing voice services, MVNO low-cost calling services, teleconferencing telecom services, and telephone voting platform operations. Revenue model is subscription/usage-based recurring.
4. Medical & Healthcare (Philippines): Revenue from Shinagawa Lasik & Aesthetics clinics (cosmetic dermatology, LASIK, cataract surgery) and Shinagawa Diagnostic & Preventive Care Center (health checkups/medical examinations). Services are priced for middle and upper-income patients in Metro Manila who value Japanese-quality medical standards. BGC and Ortigas branches serve as primary service points.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels6 records

Core offering

IPS operates international and domestic telecommunications plus healthcare services across Japan and the Philippines. Through subsidiary InfiniVAN, the company provides wholesale international bandwidth capacity and enterprise broadband internet in the Philippines via owned submarine cable infrastructure (C2C, PDSCN, and the upcoming Candle cable). Subsidiary IPS Pro (LIPSE) delivers call center solutions, AmeyoJ CTI platform, and second-based billing voice services to Japanese corporate clients. In the Philippines, Shinagawa Lasik & Aesthetics and Shinagawa Diagnostic & Preventive Care Center operate Japanese-quality medical, aesthetic, and preventive healthcare clinics in Metro Manila.

Product overview

IPS, Inc. operates a diversified portfolio of telecommunications and healthcare businesses primarily in Japan and the Philippines. The company is structured around three core business segments: (1) Global Telecommunications Business, which provides international connectivity through submarine cable infrastructure including C2C Cable, PDSCN, and upcoming Candle and Baler CLS, serving carriers and enterprises in the Philippines; (2) Domestic Telecommunications Business through subsidiary IPS Pro, Inc., offering call center solutions using AmeyoJ CTI systems and second-based billing services under the LIPSE brand; and (3) Medical & Healthcare Business, operating Shinagawa Lasik & Aesthetics Center Corporation (cosmetic dermatology and LASIK clinics) and Shinagawa Diagnostic & Preventive Care Center (preventive healthcare/medical checkups) in Metro Manila. The company also maintains subsidiaries for BPO services (KEYSQUARE), Singapore telecoms (ISMO), and US telecoms (CarrierDomain).

Differentiator

Problem solved

Functional benefit

Products and services

• Global Telecommunications Business International telecommunications services providing connectivity between the Philippines and overseas destinations (Hong Kong, Singapore, USA), including submarine cable infrastructure, carrier services, and enterprise connectivity solutions. Sold to Philippine carriers, CATV operators, and enterprise customers via InfiniVAN.
• Domestic Telecom Services (Japan) Voice communication and call center solutions for corporate clients in Japan, including automated call center systems, second-based billing services, and cloud switching solutions through subsidiary IPS Pro, Inc. Operated under the LIPSE brand.
• Shinagawa Lasik & Aesthetics Center Corporation Medical and aesthetic clinic operations in Metro Manila specializing in cosmetic dermatology, myopia correction surgery (LASIK), and cataract surgery, with two branches in Ortigas and BGC. Targets middle-to-upper income patients seeking Japanese-quality medical services.
• Shinagawa Diagnostic & Preventive Care Center (SDPCC) Preventive healthcare facility offering comprehensive medical checkups and health examinations using Japanese-standard diagnostic equipment including CT scan, MR system, and endoscope system. Operated by Shinagawa Healthcare Solutions Corporation, established June 2022.
• AmeyoJ Call Center Platform Next-generation CTI (Computer Telephony Integration) system that unifies customer management and call center operations, with cloud switching and AI integration capabilities for automated call center and customer management. Distributed under the LIPSE brand in Japan.
• InfiniVAN Enterprise Broadband Internet (Philippines) Enterprise broadband ISP services in Metro Manila (Luzon) and fiber-optic infrastructure services to regional operators in Mindanao and Panay islands via subsidiary InfiniVAN. Provides high-speed broadband to corporate customers at competitive prices (approximately half the price of incumbents) targeting replacement of incumbent carriers. Uses FTTH and 5G Fixed Wireless (24.250–24.450 GHz and 3.6–3.8 GHz).
• Philippine Domestic Submarine Cable Network (PDSCN) Service Domestic submarine cable network service connecting Luzon, Visayas, and Mindanao islands, serving as backbone infrastructure for the Philippines' digital economy. Built in collaboration with multiple Philippine telecommunications operators; designed to meet National Broadband Plan requirements.
• C2C International Submarine Cable Service International submarine cable bandwidth service connecting the Philippines with Hong Kong and Singapore, operated on the C2C cable system. IPS acquired partial usage rights to become the third-largest international data carrier in the Philippines.

Quantifiable outcome

• IPS became the third-largest international data carrier in the Philippines (after two major incumbents) following C2C cable acquisition in 2020
• +3 more outcomes

Named customers5 records

Segments4 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability2 records

Feature10 records

Partnerships

Eight partnerships are on record, tiered core and minor.

• Australia's Largest Telecommunications Operator (unnamed)coreTechnology or Integration · 1 May 2020IPS acquired partial usage rights to the international submarine cable C2C connecting Manila-Hong Kong and Manila-Singapore from Australia's largest telecommunications operator in May 2020. This partnership enabled IPS to become the third-largest international data carrier in the Philippines, with service starting in October 2020.
• Drishti Soft-Solutions Pvt. Ltd. (India)coreTechnology or Integration · 1 November 2013IPS partnered with India's Drishti Soft-Solutions to distribute the AmeyoJ call center system in Japan. AmeyoJ is a unified customer management and call center CTI platform with cloud switching and AI capabilities. IPS completed the Japanese version of the system and began distribution in November 2013, with significant deployment in India and the Philippines BPO markets.
• Shinagawa Lasik Japan (合资設立)coreStrategic or Co-development PartnerIPS established a joint venture with Shinagawa Lasik, Aesthetics and Dental Japan in February 2010 to operate cosmetic dermatology and LASIK clinics in the Philippines. The venture operates as Shinagawa Lasik & Aesthetics Center Corporation with two branches in Metro Manila (Ortigas and BGC), benefiting from the Japanese brand's reputation for quality medical services.
• Philippine Telecommunications Carriers (multiple)coreStrategic or Co-development PartnerIPS collaborates with multiple Philippine telecommunications operators to develop and operate the PDSCN (Philippine Domestic Submarine Cable Network), which connects Luzon, Visayas, and Mindanao. IPS also works with various Philippine carriers for international bandwidth arrangements and infrastructure sharing, contributing to improved regional connectivity and fair market competition.
• Philippine CATV OperatorscoreChannel Partner/ Reseller/ DistributorIPS supplies international bandwidth capacity to Philippine CATV operators, enabling them to provide broadband internet services to end consumers. IPS worked with CATV operators to pass legislation (Republic Act 10898) granting InfiniVAN its telecom franchise, and maintains a collaborative relationship with the CATV industry association. By December 2023, IPS had established PDSCN in partnership with multiple CATV operators to connect Luzon, Visayas, and Mindanao.
• KDDI CorporationminorChannel Partner/ Reseller/ DistributorKDDI Corporation is listed as a correspondent company of IPS, representing an ongoing commercial relationship. IPS previously operated as a sales agent for international telecommunication services for Cable & Wireless IDC, and KDDI is one of the major Japanese telecommunications operators with which IPS maintains business relations.
• NTT Docomo BusinessminorChannel Partner/ Reseller/ DistributorNTT Docomo Business is listed as a correspondent company of IPS, representing an ongoing commercial relationship in the Japanese telecom ecosystem.
• Philippine National Broadband Plan / GovernmentminorStrategic or Co-development PartnerIPS designed its PDSCN to meet the requirements of the Philippine National Broadband Plan — a government initiative to improve broadband infrastructure nationwide. IPS aims to provide services to government and local authorities, positioning its infrastructure as aligned with national policy objectives.

Scale indicators8 records

Recent moves12 records

Expansion highlights5 records

Market position

Strengths4 records

Weaknesses5 records

Competitive moat5 records

Key risks2 records

Key highlights6 records

Customer concentration

• YouTubeyoutube.com/@ipsincchannel3750
• Xx.com/ipsismcojp

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Subsidiaries7 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 IPS