Internet Initiative Japan Inc. · TSE:3774
Internet Initiative Japan — Investor Presentation (July 2025)
74 slides from Internet Initiative Japan's investor presentation, July 2025
Slide 1: Corporate Overview of Internet Initiative Japan (IIJ)
Corporate Overview of Internet Initiative Japan (IIJ) Internet Initiative Japan Inc. (IIJ) The Prime Market of the Tokyo Stock Exchange (Ticker symbol: 3774) May, June and July 2025 Disclaimer Statements made in this presentation regarding IIJ’s or managements’ intentions, beliefs, expectations, or
Slide 2: Outline
Outline 1. Executive Summary P. 2 – 10 2. About IIJ (From ISP to Total NW Solution Provider, etc.) P. 11 – 16 3. Business Model (Monthly recurring revenue accumulation, etc.) P. 17 – 21 4. Strength (Service development capabilities, customer base, etc.) P. 22 – 24 5. Growth Strategy P. 25 6. Service
Slide 3: Executive Summary: Key updates
Executive Summary Key updates Expanding Business Areas with Japanese Enterprises’ NW Progress 1 Finally, legacy Japanese enterprises’ closed internal NW moves to combined NW & system incorporating Internet technology Seeing strong NW re-construction demands which occur along with life-cycle of e
Slide 4: Enterprise internal NW & systems in Japan becoming to change
1 Enterprise internal NW & systems in Japan becoming to change 30 years ago Nowadays IIJ covered external NW with Internet IIJ’s opportunities rise to cover entire NW & system Carriers & SIers covered internal NW & systems utilizing various NW functions Stick to legacy NW systems Finally systems & N
Slide 5: Acquisition of large-scale projects as a new norm by Service Integration model
2 Acquisition of large-scale projects as a new norm by Service Integration model Project overview Project size (approx.) Main revenue recognition Acquisition periods Timing of revenue recognition Information infrastructure system for a public sector organization ¥3.0 bn, 4 yrs NW service, SI constru
Slide 6: Expanding economies of scale by Service Integration
2 Expanding economies of scale by Service Integration Unit: ¥ (JPY) billion approximate curve Systems construction revenues (including equipment sales) NW service (excluding mobile) revenues Systems operation & maintenance revenues 112.28 82.53 105.21 71.92 68.77 96.65 68.00 87.50 59.96 75.91 79.30
Slide 7: FY24 Summary & FY25 Targets
3 FY24 Summary & FY25 Targets Unit: JPY/¥ billion (bn), +%, YoY = Year over year comparison Net Profit is “Profit for the period attributable to owners of the parent” FY2024 Summary FY2025 Targets Acquisition of large-scale NW construction & operation projects from various rd industries has become a
Slide 8: FY25 Financial Targets (Announced in May 2025)
3 FY25 Financial Targets (Announced in May 2025) Unit (excluding dividend per share): ¥ (JPY) billion (bn) YoY = Year over year comparison FY25 Targets Premise and Assumption % of total reveue % of total reveue FY24 FY25 Revenues FY24 FY25 Gross Profit Result Target 1H25 FY25 Result Target (Apr. 1,
Slide 9: IIJ Group Mid-term Plan (FY2024-FY2026)
3 IIJ Group Mid-term Plan (FY2024-FY2026) Consolidated base Business About IIJ Net Profit is “Profit for the period attributable to owners of the parent” Model “times” are calculated by comparing FY26/FY26-end to FY23/FY23-end Growth The figures below are all assumed targets Strength Strategy Accele
Slide 10: Mid-term Plan's Financial Outlook
3 Mid-term Plan’s Financial Outlook Business About IIJ Model Growth Unit: ¥ (JPY) billion Strength Strategy Breakdown image of financial outlook Total FY20 FY23 FY26 outlook Gross FY20 FY23 FY26 outlook Operating FY20 FY23 FY26 outlook Revenue (one before (Previous Mid-term (New Mid-term’s Profit (o
Slide 11: Mid-to-long Term Vision
4 Mid-to-long Term Vision Business About IIJ Model Growth Strength Strategy Beyond 5,000 Mid-to-long Term Vision The figures mentioned below are all assumed status and image Previous Mid-term Mid-term *5,000 is derived from the Japanese unit of ¥5,000 oku (oku = one hundred million) which is ¥500 bn
Slide 12: About IIJ
About IIJ (From ISP to Total NW Solution Provider, etc.) P. 12 – 16 Business Model (Monthly recurring revenue accumulation, etc.) P. 17 – 21 Strength (Service development capabilities, customer base, etc.) P. 22 – 24 Growth Strategy P. 25 © Internet Initiative Japan Inc. 11
Slide 13: Company Profile
Company Profile Business About IIJ Model Growth Strength Strategy IIJ has been taking initiatives in Internet Infrastructure field in Japan Established December 1992 (The first established full-scale ISP in Japan) Number of Employees 5,221 (approx. 70% engineers) Large Shareholders NTT Group, KDDI,
Slide 14: From ISP to Total Network Solution Provider
From ISP to Total Network Solution Provider Business About IIJ Model Growth Strength Strategy Systems Integration (SI) revenue: Systems construction One time (including equipment sales) revenue EMERGE Systems operation and maintenance Network enhancement, (including private Cloud) Cloud, consumer mo
Slide 15: IIJ as a Total Network Solution Provider
IIJ as a Total Network Solution Provider Business About IIJ Model Growth Strength Strategy Offers various network services and systems integration together in many projects 16,000 customers Approx. (as of Mar. 31, 2025) (Japanese companies, central government agencies, local governments, consumer IS
Slide 16: Management Structure (to be from June 2025)
Management Structure (to be from June 2025) Business About IIJ Model Growth Strength Strategy Board Members Message from new President I am dedicated to firmly inheriting the growth trajectory we have established, further honing and demonstrating our group's greatest strength of technological capa
Slide 17: Initiatives for Sustainability
Initiatives for Sustainability Business PDF download link for Integrated Report Portal can be here About IIJ Model https://www.iij.ad.jp/en/ir/integrated-report/archives/pdf/integrated-repot2024_en.pdf Growth Strength Strategy IIJ’s Material Issues Lead NW infrastructure advancement with Provide an
Slide 18: Extensive Service Lineup
Business Extensive Service Lineup About IIJ Model Growth Unit: ¥ (JPY) billion (bn) Strength Strategy FY24 YoY Cost Revenue category revenue About Business situation, growth drivers and outlook growth Structure IIJ’s core service since the establishment Matured market (hard to entry) Highly re
Slide 19: Monthly Recurring Revenue Accumulation
Business Monthly Recurring Revenue Accumulation About IIJ Model Unit: ¥ (JPY) billion (bn) Growth % = Year over year change Strength Strategy FY19 FY20 FY21 FY22 FY23 FY24 Monthly Recurring Revenue: 168.4 178.3 188.2 206.9 223.3 245.1 (+5.0%) (+5.9%) (+5.5%) (+10.0%) (+7.9%) (+9.8%) % to the total r
Slide 20: Gross Profit and Margin Growth
Business Gross Profit and Margin Growth About IIJ Model Growth Unit: ¥ (JPY) billion (bn) Strength Strategy FY19 FY20 FY21 FY22 FY23 FY24 +1.8 45.3 +5.4 43.5 Gross +8.4 35.6 +2.5 38.1 NW profit +7.3 27.2 services 19.9 Gross margin 16.3% 21.4% 27.8% 27.5% 28.7% 27.8% • NW services include Internet co
Slide 21: NW Services as Profit Growth Driver - Economies of Scale
Business NW Services (monthly recurring revenue) as Profit Growth Driver - Economies of Scale - About IIJ Model Growth Strength Strategy Profit Model of NW Services Connectivity services Security services Various in-house developed services IP (Internet Protocol) service Details in P.30 DDoS protect
Slide 22: Capex and Business Developments
Business Capex and Business Developments About IIJ Model Unit: ¥ (JPY) billion (bn) Growth Strength Strategy FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 Revenues 176.2 192.4 204.5 213.0 226.3 252.7 276.1 316.8 Stronger demands for enterprise network services 27.8% 27.5% 28.7% 27.8% NW service 18.1% 16.3
Slide 23: Service & Solution Development Capability
Service & Solution Development Capability Business About IIJ Model Growth Strength Strategy Initiate the market by continuously developing innovative various NW-related services & solution in-house © Internet Initiative Japan Inc. 22
Slide 24: Excellent Customer Base
Excellent Customer Base (Number of IIJ Group’s clients: approx. 16,000 as of March 31, 2025) Business About IIJ Model Growth Strength Strategy Through reliable operation, continuous use of Internet connectivity services since the inception of IIJ Our reliable infrastructure operation and cross-s
Slide 25: Competitive Advantages
Competitive Advantages Business About IIJ Model Growth Strength Strategy Against telecom carriers, IIJ Against systems integrators (SIers), IIJ • Has highly skilled IP (Internet Protocol) engineers • Operates one of the largest Internet backbone (SIers do not) • Is faster to move than bureaucratic o
Slide 26: Enhancement of Human Capital
Enhancement of Human Capital Business About IIJ Model Growth Strength Strategy Basic policy: continuously hire and train new graduates Turnover rate Breakdown of Employees New graduates who studied NW are attracted to IIJ who is the first full-scale ISP in Japan FY20 FY21 FY22 FY23 FY24 Admin. a
Slide 27: Service/Business Function
Service/Business Function Comprehensive NW system solution with NW services & SI P. 27 – 29 Enterprise NW Services P. 30 Security Services P. 31 – 35 Mobile Services P. 36 – 39 IoT Services P. 40 – 41 Systems Integration (SI) P. 42 Cloud Services P. 43 – 44 Data Centers (DC) P. 45 © Internet Initiat
Slide 28: Comprehensive NW system solution with NW services & SI
Comprehensive NW system solution with NW services & SI Service/Business Function By combining various in-house developed NW services with SI to provide comprehensive NW system solution SI to meet specific requirements cannot be covered by NW services NW services (in-house developed) Secure Web Man
Slide 29: Large-scale Service Integration Transactions
Large-scale Service Integration Transactions Services provided by IIJ SI provided by IIJ Educational Information NW for Chiba city Integrated information system for public safety org. SASE Large-scale SASE (多数)for a global company 案件project Internet IIJ GIO Managed Prisma Access UOM 1Gbps Prisma A
Slide 30: New shared banking system platform for regional banks with IBM Japan and MUFG Bank
Launched a new shared banking system platform for Japanese regional banks with IBM Japan and MUFG Bank The regional banking system alliance groups “Judankai” & “Chance” have adopted the platform Promoting service cross-selling for them IIJ’s part in this initiative Areas where IIJ can provide inde
Slide 31: Enterprise NW Services
Enterprise NW Services Service/Business Function IIJ’s enterprise NW services’ business model: Cost doesn’t have to increase at the same pace as the revenue: economies of scale IP service (Internet Protocol) Business model IP Service is a bandwidth guaranteed dedicated Internet connectivity servic
Slide 32: Security Business (1)
Security Business (1) Service/Business Function Provide a wide range of security services over network Information analysis platform utilizing information and expertise only available to ISPs Security services for internal systems Security services for external systems Web access security DDoS P
Slide 33: Security Business (2)
Security Business (2) Service/Business Function Many initiatives taken by IIJ for security 1994 Started providing firewall services (first in Japan) 1999 Started providing fully-managed firewall services (first in Japan) 2004 Started providing spam mail filtering (first in Japan) 2005 Added sender
Slide 34: Security Business (3)
Security Business (3) Service/Business Function IIJ Secure MX Service (SMX) IIJ DDoS (Distributed Denial of Service) Protection Service Cloud-based integrated mail security service (launched in Sep. 2006) Comprehensive service to protect enterprise NW system from DDoS attacks Differentiating b
Slide 35: Security Business (4)
Security Business (4) Unit: ¥ (JPY) billion Service/Business Function Security Service (monthly recurring revenue) Mail Security Web GW Full outsource of mail system, Full outsource of web security, URL filtering, Revenue strongly increasing along with continuous strong demands countermeasures
Slide 36: Security Business (5): Breach of Customer Information in IIJ Secure MX Service
Security Business (5) Service/Business Function Regarding the Breach of Customer Information in “IIJ Secure MX Service” As announced in our press releases, we disclosed a potential external breach of certain customer information associated with the relevant service #0 Incident occurrence Aug.3, 202
Slide 37: Mobile Business (1)
Mobile Business (1) Service/Business Unit: ¥ (JPY) billion (bn) %, YoY = Year over year comparison QoQ = Quarter over quarter comparison Function Mobile Subscription (Subs.) Accumulate enterprise IoT traffic by leveraging the blue-chip client base, various NW services & SI function - higher utiliz
Slide 38: Mobile Business (2)
Mobile Business (2) Service/Business Function Revenues (unit: ¥ billion) Enterprise mobile (IoT) MVNE (providing mobile services to other MVNOs) IIJ launched GigaPlans IIJmio (consumer) from Apr. 2021. Rapid expansion of consumer inexpensive SIM FY24 market in Japan ¥23.44 bn IIJ started providing L
Slide 39: Mobile Business (3)
Mobile Business (3) Service/Business Function Most of current enterprise mobile solution are simple usage such as connecting NW and surveillance cameras, etc. Accumulating various enterprise mobile solutions © Internet Initiative Japan Inc. 38
Slide 40: Mobile Business (4)
Mobile Business (4) Service/Business Function IIJ’s mobile business model Growth Strategy Revenue Aim to improve mobile infrastructure utilization by gathering IoT/M2M & Consumer mobile revenue is calculated by multiplying subscription by ARPU various consumer traffic Currently buying mobile
Slide 41: IoT Business (1)
IoT Business (1) Service/Business Function Combining IIJ’s existing service lineups and SI to build IoT systems IIJ IoT Specific Fields and Industry Home / Care Agriculture Energy Businesses (Manufacturing) Monitoring WISE-PaaS IIJ Japan-East IIJ Water Management Necolico Home Cloud Services (PaaS f
Slide 42: IoT Business (2)
IoT Business (2) Service/Business Function IIJ’s IoT projects Advanced IoT usage: factory IoT Industrial Shift from reactive post-sales maintenance model to IIJ provides IoT system for Toyota Motor Hokkaido machinery proactive field services Providing a one-stop solution by offering mobile and C
Slide 43: Systems Integration (SI)
Systems Integration (SI) Service/Business Function Started offering SI to fully meet Japanese enterprises’ IT demands which are quite specific & difficult to meet solely by NW services Seeing greater proposal opportunities to replace legacy private NW and systems which often require customizatio
Slide 44: Cloud Business (1)
Cloud Business (1) Unit: ¥ (JPY) billion Service/Business Function Cloud service revenue (monthly recurring) Majority of enterprise systems are still operating on-premise Revenue continued to accumulate along with the constant cloud shift Location of servers working and/or deployed FY20 FY21 FY22
Slide 45: Cloud Business (2)
Cloud Business (2) Service/Business Function Cloud services as one of the cross-selling elements Promoting cloud shift of the current blue-chip Japanese enterprises IIJ’s competitive advantages Cloud market in Japan Blue-chip client base Slow cloud shift in Japan Cloud as new business oppo
Slide 46: Data center (DC)
Data center (DC) Service/Business Function Operate 16 DCs in Japan, 2 of which are owned by IIJ (as of Mar. 2025) DCs are mainly for IIJ’s own service facility (IP, security, cloud, etc.) Expanding own DC capacity along with growing demands for IIJ services Expect higher efficiency by gradua
Slide 47: Financials
Financials Financial Performance (FY20 ~ FY24 results) P. 47 FY24 Financial Results P. 48 – 61 © Internet Initiative Japan Inc. 46
Slide 48: Financial Performance (FY20 ~ FY24 results)
Financial Performance (FY20 ~ FY24 results) Unit: ¥ (JPY) billion (bn) YoY = Year over Year Financials Download link for Data book can be here: https://www.iij.ad.jp/en/ir/library/financial/ FY20 FY21 FY22 FY23 FY24 Total Revenue 213.0 226.3 252.7 276.1 316.8 YoY +4.2% +6.3% +11.7% +9.2% +14.8% NW s
Slide 49: Consolidated Financial Results
Consolidated Financial Results Unit: ¥ (JPY) billion YoY = Year over year comparison Financials % of revenue % of revenue % of revenue FY24 Results FY23 Results YoY FY24 Targets YoY (Announced in Aug. 2024) Apr. 2024 - Mar. 2025 Apr. 2023 - Mar. 2024 Apr. 2024 - Mar. 2025 Revenues 316.83 276.08 +14.
Slide 50: Year over Year Analysis
Year over Year Analysis Unit: ¥ (JPY) billion (bn) GP = Gross Profit Financials YoY = Year over year comparison Revenues FY23 +40.75 FY24 276.08 YoY change in YoY change in 316.83 NW services (excl. YoY change in YoY change in ATM operation Mobile) revenues Mobile revenues SI revenues business reven
Slide 51: Revenues
Revenues Unit: ¥ (JPY) million [ ], YoY = Year over year comparison Financials Internet Connectivity Services (Enterprise) Systems Integration (SI) Systems Construction (including equipment sales) Internet Connectivity Services (Consumer) Systems Operation and Maintenance Network (NW) Services Outso
Slide 52: Cost of Revenues & Gross Profit Ratio
Cost of Revenues & Gross Profit Ratio Unit: ¥ (JPY) million [ ], YoY = Year over year comparison Financials Gross margin: NW (Network) Services SI (Systems Integration) Total Cost of revenues: NW (Network) Services SI (Systems Integration) ATM Operation Business 28.1% 28.5% 29.4% 28.9% 27.2% 27.7% 2
Slide 53: Network (NW) Services (1) Revenues
Network (NW) Services (1) Revenues Unit: ¥ (JPY) million [ ] , YoY = Year over year comparison QoQ = Quarter over quarter comparison Financials Total Contracted Bandwidth (Gbps) Internet Connectivity (enterprise) Services WAN (Wide Area Network) Services FY24: ¥48.99 bn, +9.5% YoY (+11.1% YoY in
Slide 54: Network (NW) Services (2) Cost of Revenues
Network (NW) Services (2) Cost of Revenues Unit: ¥ (JPY) million [ ], YoY = Year over year comparison Financials Circuit-related costs (Internet backbone, WAN lines, etc.) Outsourcing-related costs (mobile infrastructure related costs such as interconnectivity charge and voice communication services
Slide 55: Systems Integration (SI) (1) Revenues
Systems Integration (SI) (1) Revenues Unit: ¥ (JPY) million [ ] , YoY = Year over year comparison QoQ = Quarter over quarter comparison Financials MRR = Monthly Recurring Revenue Systems Construction revenues (including equipment sales) Systems operation & maintenance revenues for on-premise system
Slide 56: Systems Integration (SI) (2) Cost of Revenues
Systems Integration (SI) (2) Cost of Revenues Unit: ¥ (JPY) million [ ] , YoY = Year over year comparison QoQ = Quarter over quarter comparison Financials Purchasing costs (Equipment, etc.) Outsourcing-related costs (SI-related outsourcing personnel costs, etc.) Others Network operation-related cost
Slide 57: Human Capital Disclosure
Human Capital Disclosure Financials Number of Employees (consolidated basis) Personnel-related costs & expenses (consolidated basis) Contract worker (personnel) Breakdown of Employees Unit: ¥ (JPY) million Admin. Full-time worker (personnel) approx.10% 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 Sales C
Slide 58: SG&A, etc.
SG&A, etc. Unit: ¥ (JPY) million [ ] , YoY = Year over year comparison QoQ = Quarter over quarter comparison Financials Research & development expenses Commission expenses Others (including other income and other expenses) Personnel-related expenses ( ) % of total revenues FY23: 34,837 [+13.5%] FY24
Slide 59: Profit
Profit Unit: ¥ (JPY) million [ ] , YoY = Year over year comparison Financials Operating margin Operating profit Operating profit FY24: ¥30.10 bn, +3.7% YoY Net profit • Profit increased YoY by absorbing approx. -¥1.5 bn of VMware license-related profit impact Profit before tax FY24: ¥29.18 b
Slide 60: Consolidated Statements of Financial Position (Summary)
Consolidated Statements of Financial Position (Summary) Unit: ¥ (JPY) million Financials Mar. 31, 2024 Mar. 31, 2025 Changes Mar. 31, 2024 Mar. 31, 2025 Changes Cash & cash equivalents 45,474 32,534 (12,940) Trade & other payables 25,435 30,238 +4,803 Trade receivables 45,683 56,361 +10,678 Borrowin
Slide 61: Consolidated Cash Flows
Consolidated Cash Flows Unit: ¥ (JPY) million YoY = Year over year comparison Financials Operating Activities FY24 Major Breakdown YoY Change FY23: 40,780 FY24: 28,528 Profit before tax 29,184 +250 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 Depreciation and amortization 31,372 +2,076 11,035 11,536 13,1
Slide 62: Other Financial Data
Other Financial Data Unit: ¥ (JPY) million [ ] , YoY = Year over year comparison Financials CAPEX CAPEX-related depreciation and amortization Cash CAPEX Finance lease FY23: 22,521 [+8.1%] FY24: 26,274 [+16.7%] FY23: 15,634 [+2.3%] FY24: 17,312 [+10.7%] 9,880 4,139 4,311 4,377 4,485 6,627 6,689 3,869
Slide 63: Appendix
Appendix Shareholders’ Return P. 63 Market Environment & Growth Forecast, etc. P. 64 NTT Docomo’s Mobile data interconnectivity charge P. 65 Consumer Mobile Price list P. 66 Overseas Business P. 67 ATM Operation Business P. 68 FinTech Business: DeCurret P. 69 – P. 71 CDN Business: JOCDN P. 72 © Inte
Slide 64: Shareholders' Return
Shareholders’ Return Appendix Basic shareholders’ return policy: Continuous and stable dividend payment while considering the need to have retained earnings for the enhancement of financial position, mid-to-long term business expansion and future investment Dividend per share: FY21 FY22 FY23 FY2
Slide 65: Market Environment & Growth Forecast, etc.
Market Environment & Growth Forecast, etc. Appendix Historical traffic data of major domestic IX SIM type MVNO market share in Japan Peak traffic Maintain top share in the domestic SIM-type MVNO market Mar. 31, 2023 Mar. 31, 2024 1st IIJ 19.8% IIJ 21.6% 2nd NTT Resonant 11.9% NTT Docomo(*) 9.7% 3r
Slide 66: NTT Docomo's Mobile data interconnectivity charge
NTT Docomo’s Mobile data interconnectivity charge (Mbps unit charge・monthly) Appendix Fiscal FY20 FY21 FY22 FY23 FY24 FY25 FY26 FY27 Year Method Future cost method: MNOs are to disclose the charges for next three yrs based on their prediction about cost etc. Announced in Mar. 2025 New ¥10,874 ¥10,38
Slide 67: Mobile service for consumers IIJmio Giga Plan
Mobile service for consumers “IIJmio Giga Plan” Appendix Including tax IIJmio awarded No. 1 overall satisfaction in the Oricon Customer Satisfaction® Survey for low-cost SIM & mobile device sets IIJmio “Giga Plan” • Slight price revision in Mar. 2025 GigaPlans: by data plans GigaPlans: by plans As
Slide 68: Overseas Business
Overseas Business Appendix Revenue and Operating Profit (included in SI and NW) Business Developments FY24: Favorable momentum: Started focusing on overseas business around • Global NW and server construction as well as PTC (Singaporean SIer) FY11. It was when Japanese companies started to Unit:
Slide 69: ATM Operation Business
ATM Operation Business Appendix Business Model Similar to “Seven Bank” model Placing ATMs in pachinko parlors in Japan • After long discussion, started to place in Kanto, Kansai, Kyushu and Tokai areas • 7,665 pachinko parlors in Japan as of Dec. 31, 2022 (Source: National Police Agency) Recei
Slide 70: FinTech Business through DeCurret (1)
FinTech Business through DeCurret (1) Appendix Launched “DCJPY Network” as the first digital currency platform service in Japan (Jul. 2024) About DeCurret HD & DCP The first Case of Digital Currency DCJPY Settlement Transactions • Shareholder: 43 companies including IIJ Issuer of digital GMO Aozora
Slide 71: FinTech Business through DeCurret (2)
FinTech Business through DeCurret (2) Source: DeCurret Web Page Appendix Raised capital of approx. JPY6.35 billion through a third-party allotment from 13 companies, including 8 new shareholders for further business expansion (Sep. 2024) • Internet Initiative Japan Inc., SBI Holdings, Inc., Hitachi,
Slide 72: FinTech Business through DeCurret (3)
FinTech Business through DeCurret (3) Appendix DeCurret DCP Partnership with Securitize Digital Currency Forum Subcommittees Aim to adopt digital currency for digital securities' settlement (as of Sep. 2024) Securitize, Inc., a parent company of Securitize Japan K.K., was established in 2017 and
Slide 73: CDN Business through JOCDN
CDN Business through JOCDN Appendix Company Profile Business Model Name JOCDN Inc. (IIJ’s equity method investee) IIJ Ownership 16.8% IIJ Capital JPY845 million (including capital reserve) Established December 1, 2016 Ownership Internet connectivity services IIJ, Nippon TV, TV Asahi, TBS, TV Tokyo,
Slide 74: © Internet Initiative Japan Inc.
© Internet Initiative Japan Inc.
Internet Initiative Japan — Investor Presentation (July 2025) on 6ix