What CONEXIO does

CONEXIO Corporation is a Japanese telecommunications sales and solutions company headquartered in Minato-ku, Tokyo, founded in 1997 and operating through two primary business segments: Consumer Business and Corporate Business. The Consumer Business operates approximately 440 carrier-certified retail shops for NTT Docomo and Rakuten Mobile across all 47 Japanese prefectures, selling roughly 1.8 million mobile devices annually, providing after-sales service and smartphone education, distributing prepaid cards and gift cards (including Oisix and Lemino Premium branded cards), and offering financial services intermediation in partnership with Monex Securities. The Corporate Business serves approximately 7,700 enterprise customers with managed mobile services, multi-carrier device procurement, MVNO network services under the TRIBE-biz brand (including VPN, mobile, global coverage in 198 countries, and disaster/communication failure countermeasures), and IoT solutions built around the proprietary CONEXIOBlackBear edge computing gateway and the Smart IoT Plus platform.

The company's technology portfolio includes the CONEXIOBlackBear edge gateway (available in 5G models with mobile line auto-switching), the Smart IoT Plus platform enabling IoT deployment in as little as one month, the TRIBE-biz MVNO platform leveraging NTT Docomo network infrastructure, and AI-powered predictive maintenance solutions for rotating industrial equipment. CONEXIO has 20+ years of IoT experience with 300,000+ installation and operation locations across manufacturing, construction, automotive, and social infrastructure sectors, and partners with NTT Docomo, Nokia, Nittetsu Solutions, Toppan Printing, NeedsWell, ENEOS, and Hoken no Madoguchi Group. The company holds ISO 27001 and ISO 14001 certifications, a Financial Services Intermediary license (Kanto Finance Bureau registration 金サ第23号), and multiple workplace certifications including Platinum Kurumin Plus and Platinum Eruboshi.

CONEXIO was publicly listed on the Tokyo Stock Exchange (TYO:9422) and was a JPX Nikkei Mid/Small Cap Index constituent until March 2023, when it was delisted following NCX Corporation's tender offer and squeeze-out, becoming a wholly-owned private subsidiary. The company relocated its headquarters to Toranomon Trust Tower in 2022 and employs 1,001-5,000 people. Revenue streams include hardware sales, managed services subscriptions, MVNO recurring fees, transaction fees from prepaid card distribution and financial intermediation, and IoT hardware and platform fees.

Name

CONEXIO

Legal name

コネクシオ株式会社 (CONEXIO Corporation)

Website

https://conexio.co.jp

Company type

Private

Founded year

1997

Operating status

Acquired

Headcount range

1,001–5,000 employees

Short description

CONEXIO is a Japanese mobile communications solutions company operating ~440 carrier-certified retail shops and serving ~7,700 enterprise customers with managed mobile services, TRIBE-biz MVNO, and IoT solutions including the proprietary CONEXIOBlackBear edge gateway.

Ownership category

akta.pro rank

Product category

Mobile Telecommunications Retail and Solutions

NAICS

Agents for Wireless Telecommunications Services (517122), Telecommunications Resellers (517121)

SIC

Radiotelephone Communications (4812)

akta.pro primary industry

Mobile Wholesale & Roaming Providers (Interconnect, IOT, Roaming Hubs) (HDAIAAAD)

akta.pro secondary industry

Consumer Mobile Network Operators (Retail MNOs) (HDAIAAAA)

Keywords

• Mobile retail services
• Corporate mobile solutions
• IoT edge computing
• MVNO network services
• Managed device services

Headquarters

HQ city

Tokyo

HQ country

Japan

HQ region

Asia

Offices2 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Consumer mobile device and service sales: Sale of smartphones and mobile devices through carrier-certified docomo shops and Rakuten Mobile shops nationwide. Also includes after-sales service, accessories sales, and financial services intermediation (securities brokerage intermediation via Monex Securities). Annual sales volume approximately 1.8 million units with approximately 440 carrier-certified shops.
2. Corporate mobile solutions: Provision of mobile device procurement, setup, operations management, and mobile application utilization services for enterprise customers. Includes multi-carrier and multi-device support.
3. MVNO network services (TRIBE-biz): Provides corporate internet lines, secure VPN services, mobile network services, global data roaming, and disaster/communication障害 countermeasures using NTT Docomo network as MVNO.
4. Prepaid card sales and issuance: Sale of prepaid cards to convenience stores, and prepaid gift card and POSA card issuance business for retail stores and EC operators. Includes Oisix gift cards and Lemino premium prepaid cards.
5. IoT solutions: IoT solutions including CONEXIOBlackBear edge computing gateway, Smart IoT Plus platform, and custom IoT system development for manufacturing, construction, automotive, and infrastructure sectors. Over 300,000 installation and operation locations.
6. Financial services intermediation: Financial services intermediation business — acting as intermediary for securities brokerage services via partnered financial institution Monex Securities (Manex Securities Co., Ltd.) at select docomo shop locations. Licensed by Kanto Finance Bureau (金サ) No. 23.

Pricing tiers

Go-to-market motion3 records

Distribution channels6 records

Marketing channels6 records

Core offering

CONEXIO sells mobile devices (smartphones) and provides mobile-related solutions through ~440 carrier-certified docomo and Rakuten Mobile shops across Japan, handling approximately 1.8 million units annually. For corporate clients, the company delivers managed mobile services (Mobile WorkPlace), IoT solutions including the proprietary CONEXIOBlackBear edge computing gateway and Smart IoT Plus platform, MVNO network services under the TRIBE-biz brand (VPN, mobile, global roaming in 198 countries), and payment services. Additional offerings include prepaid card sales/issuance, gift cards (Oisix, Lemino Premium), and financial services intermediation (securities via Monex Securities).

Product overview

CONEXIO operates a dual business model combining Consumer Business (carrier-certified retail shops, smartphone services, financial services) and Corporate Business (mobile solutions, IoT solutions, MVNO services, payment services). The core product portfolio centers on CONEXIOBlackBear IoT edge gateway and TRIBE-biz MVNO platform for corporate connectivity, supported by Mobile WorkPlace for managed device services and Smart IoT Plus for platform-based IoT solutions. Consumer operations offer nexi payment services, prepaid cards (Oisix, Lemino Premium), and LUMIERA accessories alongside carrier shop networks. The company leverages 20 years of IoT experience with 300,000+ installation sites across manufacturing, construction, and infrastructure sectors.

Differentiator

Problem solved

Functional benefit

Brands

• TRIBE-biz: MVNO mobile network services for business customers including VPN, mobile services, global data coverage, and disaster/communication failure countermeasures
• CONEXIOBlackBear
• Smart IoT Plus
• Mobile WorkPlace
• Oisix Gift Card
• Lemino Premium Prepaid Card
• nexi (ネクシィ)

Products and services

• Carrier-Certified Shops (docomo and Rakuten Mobile)

Quantifiable outcome

• Approximately 1.8 million mobile devices sold annually through ~440 carrier-certified shops
• +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

Integration6 records

AI capability5 records

Feature6 records

Partnerships

13 partnerships are on record, tiered minor and core.

• Hoken no Madoguchi Group (ほけんの窓口グループ)minorStrategic or Co-development Partner · 1 October 2022CONEXIO partnered with Hoken no Madoguchi Group to open new concept shops combining insurance consultation and smartphone services. Two locations were opened: Star River Tenjin Kurashi no Sodan Madoguchi (星川星天 qlay) in 2023 and Ebina Bina Gardenz Perch location in 2022.
• Ryowa Ware (共和資器材)minorStrategic or Co-development Partner · 1 August 2022CONEXIO co-developed and launched the 'Smart Water Pump SuPMoS' — a remote monitoring system for IoT sensor-equipped underwater pumps — with Ryowa Ware, combining water equipment expertise with CONEXIO's IoT capabilities.
• Toppan Printing (凸版印刷)minorStrategic or Co-development Partner · 1 December 2021CONEXIO partnered with Toppan Printing to strengthen the sales structure for LINE WORKS, a business communication platform, leveraging Toppan's enterprise sales network.
• Nippon Steel & Sumikin Solutions (日鉄ソリューションズ)coreStrategic or Co-development Partner · 1 September 2021In partnership with Nokia and NS Solutions, CONEXIO began joint verification and business collaboration for Local 5G/private LTE solutions targeting enterprise customers in Japan.
• NeedsWell (ニーズウェル)minorChannel Partner/ Reseller/ Distributor · 1 September 2021CONEXIO entered a business partnership with NeedsWell, a systems integrator, for the corporate mobile solutions business, combining CONEXIO's mobile expertise with NeedsWell's enterprise system integration capabilities.
• ENEOS (ENEOSでんき)minorChannel Partner/ Reseller/ Distributor · 1 July 2021CONEXIO began handling ENEOS electricity services, offering corporate customers access to ENEOS power supply as part of its broader corporate service portfolio.
• Belong (モバイルレンタル)minorChannel Partner/ Reseller/ Distributor · 1 April 2021CONEXIO partnered with Belong to offer mobile device and tablet rental services ('Conexio biz mobile rental by Belong') for enterprises, providing short-term and long-term rental options for business mobile devices.
• Minne by GMO Pepabo (minne)minorChannel Partner/ Reseller/ Distributor · 1 January 2021CONEXIO partnered with handmade marketplace Minne to conduct Minne workshops at CONEXIO-operated docomo shops, helping smartphone users learn crafting and handmade skills.
• Nokia (ノキア)coreTechnology or Integration · 1 December 2020CONEXIO entered into a 'Nokia Local 5G Technology Partnership' agreement with Nokia and NS Solutions (日鉄ソリューションズ) for joint verification and business collaboration on Local 5G/private LTE solutions, enabling the provision of private 5G network solutions for enterprise customers.
• Monex Securities (マネックス証券)coreStrategic or Co-development PartnerMonex Securities is the partnered financial institution for CONEXIO's financial services intermediation business. CONEXIO operates financial services intermediation at select docomo shops under a commission agreement with Monex Securities (registered with Kanto Finance Bureau, registration number: 金サ第23号).
• Oisix (オイシックス)minorChannel Partner/ Reseller/ DistributorCONEXIO issues Oisix gift cards for the Oisix food delivery service, offering Excellent 3800 and Premium 5500 gift card tiers as well as Oisix eGift for LINE/email gifting through CONEXIO's prepaid card issuance business.
• NTT Docomo (Lemino service)minorChannel Partner/ Reseller/ DistributorCONEXIO issues Lemino Premium prepaid cards for NTT Docomo's video streaming service 'Lemino Premium.' These prepaid cards allow users to access the 990 yen/month streaming service without a monthly subscription.
• NTT Docomo (MVNO network)coreTechnology or IntegrationCONEXIO operates as an MVNO using NTT Docomo's mobile network infrastructure to provide TRIBE-biz VPN mobile, TRIBE-biz mobile services, and TRIBE-biz Global services to enterprise customers across Japan.

Scale indicators5 records

Recent moves9 records

Expansion highlights6 records

Broad incumbents

• KDDI (au): Major Japanese MNO with direct enterprise telecom and IoT offerings, plus its own au retail network. Comparable to CONEXIO at the wholesale and IoT layers, though much broader in fixed-line and enterprise services.
• Rakuten Mobile: Japan's fourth MNO and a CONEXIO carrier-shop partner; offers enterprise mobile and IoT services. Comparable in retail mobile distribution and MVNO/corporate connectivity.
• NTT Docomo: Japan's largest MNO and CONEXIO's principal wholesale partner and carrier-shop principal. Overlaps with CONEXIO where Docomo sells direct enterprise and consumer mobile, but typically channels through agents like CONEXIO for retail distribution.
• SoftBank Corp. MNO and enterprise telecom/IoT provider in Japan; previously a CONEXIO channel partner (CONEXIO exited Softbank shop operations in 2021). Comparable at the corporate mobile and IoT layers.

Direct peers

• OPTAGE: Subsidiary of Kansai Electric Power operating a major Japanese MVNO over multiple carrier networks with corporate mobile, IoT/M2M, and managed services — overlapping directly with CONEXIO's TRIBE-biz MVNO and corporate mobile offerings.
• Internet Initiative Japan (IIJ): Japan's largest independent MVNO and corporate network/IoT operator. Directly comparable to CONEXIO because both sell MVNO services, corporate managed connectivity, and IoT solutions to Japanese enterprises over purchased wholesale capacity.
• Japan Communications Inc. (JCI): Long-standing Japanese MVNO specializing in enterprise mobile data, IoT, and fintech-related connectivity. Closely comparable to CONEXIO's enterprise MVNO and IoT positioning.
• Biglobe: Japanese MVNO and ISP offering consumer and B2B mobile, IoT, and connectivity services. Comparable to CONEXIO as a wireless reseller/agent with multi-carrier wholesale relationships and a corporate solutions portfolio.
• So-net (Sony Network Communications): Sony-owned ISP and MVNO providing consumer and B2B connectivity. Similar in scope to CONEXIO's wireless resale/agent activities and B2B mobile solutions.

Emerging players

• FCNT (formerly Fujitsu Connected Technologies): Japanese mobile device OEM with enterprise mobility and IoT device offerings. Adjacent comparable to CONEXIO's device distribution and managed mobile device businesses, especially in ruggedized and enterprise mobility categories.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

Compliance8 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries1 record

Funding overview

Funding rounds

Investors

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

M&A

Investments1 record

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

Frequently asked questions about CONEXIO