Bplats, Inc.
Public · 2 known investors
Bplats operates Bplats®, a subscription management and billing platform for businesses. The company also runs the Subscription Research Institute and is publicly listed on the Tokyo Stock Exchange.
Also known as Bplats · BPLATS,Inc. · ビープラッツ株式会社
Founders & leadership
Investors · 2
Company profile
researched Aug 2026Bplats, Inc. (ビープラッツ株式会社) is a Japanese application service provider headquartered in Tokyo that develops and operates subscription management platforms. Its flagship product, Bplats®, is a subscription integration platform handling contract management, ordering, usage-based (metered) billing, invoicing and multi-tier sales-channel management for business-to-business commerce, including compliance with Japanese regulations such as the Electronic Books Preservation Act and the invoice system. Alongside it the company offers サブかん® (Subkan), a tool for centrally managing corporate SaaS purchasing, contracts and employee license allocation; Bplats® Collabo, a system for FTTH "optical collaboration" (hikari collabo) operators covering online order sites, customer My Page, and specialised sales management, provided since 2015 and relaunched under the Collabo brand from 1 October 2025; and AMANEX, an AI-driven development support platform providing automatic design-document generation from source code and RAG-based cross-search of internal documents.
According to market data on the listed entity, Bplats reports within a subscription business and describes segments spanning IoT (manufacturing), Cloud (reselling and managing Microsoft and other cloud providers' services) and Communications (MVNO and optical collaboration). Reported segment sales for the fiscal years ending March were ¥808M (FY2022), ¥945M (FY2023), ¥897M (FY2024) and ¥706M (FY2025), all generated in Japan, with net losses reported in recent periods. Historically the company also operated SaaS and e-commerce platform services (SaaSplats, eCPlats, RightsPlats, License-V) and an online store distributing Yamaha's avatar-less VY series Vocaloid voicebanks and related software and hardware.
The company additionally maintains an affiliated entity, the Subscription Research Institute (株式会社サブスクリプション総合研究所), which conducts education, publishing and consulting on subscription business models.
Founding story
Bplats was founded in 2006 by Kenji Fujita, who serves as President and CEO and remains a significant shareholder.
Business model
Bplats licenses its subscription management platforms to enterprises on a SaaS basis, supplying the contract, ordering, billing and channel-management infrastructure behind customers' own subscription offerings, and complements this with implementation/adoption support services, optional modules (such as an affiliate function for generative-AI commerce), and consulting and educational activity through its affiliated Subscription Research Institute.
Revenue is reported under a subscription business, generated from platform services sold to corporate customers; segment sales are broken out across IoT, Cloud, and Communications (MVNO / optical collaboration) lines, entirely in Japan.
Traction
Segment sales, entirely from Japan, were ¥808M for FY ending March 2022, ¥945M for FY2023, ¥897M for FY2024 and ¥706M for FY2025, with net income reported at -¥298M for 2025. The customer roster spans consumer tire subscriptions, residential energy services, IoT monitoring, card-data analytics, print/workplace services, cloud distribution and optical-collaboration line resale.
Latest developments
In 2025–2026 the company relaunched its optical-collaboration system as Bplats® Collabo (from 1 October 2025), strengthened an "AI×Monetization" support offering for generative-AI service providers in March 2026, launched an affiliate-function option addressing distribution and billing for generative-AI businesses in April 2026, helped establish an "AI Adoption Support Consortium" in July 2026 with Microsoft Japan as a supporting participant (with Bplats serving as the platform for the consortium's marketplace), announced a business partnership with Kuujit in July 2026 on AI-driven development design-support infrastructure, and began selling Kuujit's AMANEX AI-driven development support platform in August 2026. The company also disclosed receipt of financing from Growth Partners Co., Ltd. in April 2025 and June 2026.
▸Full profile — market position, technology, go-to-market, geography, history, risks & controversies
Market position
Bplats positions itself as a specialist subscription platform provider adopted by leading companies across a range of Japanese industries, focusing on complex B2B subscription commerce rather than consumer subscription commerce. It is a small-cap listed company, with market capitalisation reported at roughly ¥863M (about $5.41M) and a free float near 60%.
The platform emphasises complex B2B requirements—multi-tier distribution and reseller hierarchies, n-to-n commercial flows, usage-based charging, and localisation for Japanese regulatory requirements such as electronic bookkeeping and invoice rules—rather than simple direct-to-consumer subscription billing.
Technology
The platform supports n-to-n B2B commercial flows, multi-layer sales-channel and contract hierarchies, metered/usage-based rating and billing, long-term contract terms (e.g. 10–15 years for energy-system subscriptions), storefront and My Page front ends, and integration with external systems such as Salesforce and credit-card payment. Metering know-how developed for cloud, optical-collaboration and MVNO operators is being applied to generative-AI pricing based on token consumption and GPU resources. AMANEX adds automated design-document generation from source code and retrieval-augmented generation search over internal documents.
Go-to-market
The company sells directly to large Japanese enterprises and promotes a partner/channel model, announced as "Bplats® Connect" in May 2021, that connects multiple providers' subscription services for one-stop delivery. It runs seminars and webinars, publishes case studies and subscription research content, offers individualized subscription consulting sessions, and participates in industry consortia and vendor partnerships.
Japanese enterprises building subscription, usage-based or partner-channel businesses, including manufacturers, cloud and IT distributors, telecom and optical-collaboration operators, MVNOs, financial and leasing companies, and generative-AI service providers. Named users include Bridgestone Tire Solution Japan (mobox), Kyocera (HOUSmile_e), Optage (MAMOLEO), Sumitomo Mitsui Card (Custella), Tokyo Century (IoT SELECTION connected with SORACOM), Konica Minolta Japan (Workplace Hub), Tokyo Electron Device (CP-WEB), JPIX (JPIX Hikari), Meiden System Solution, Cytech Japan and Joguchi Atom.
Geography
Headquartered in Tokyo, Japan (Chiyoda-ku; company address listed at the FUJISOFT Akihabara Building), with services provided throughout Japan; Wikipedia lists the area served as Japan and China.
History
The company was founded by Kenji Fujita in 2006 (October 2006 per Globis Capital Partners; November 2006 per Wikipedia). Globis Capital Partners made an initial investment in May 2008 and announced participation in a third-party allotment in June 2008 in the company, then developing SaaS and internet commerce platforms. In its earlier years Bplats operated ASP/SaaS portals and services including SaaSplats, eCPlats, RightsPlats and License-V, and ran an online store selling Yamaha's VY-series Vocaloid products, which shipped across Vocaloid 2 through Vocaloid 5 between 2010 and 2018. The company listed on the Tokyo Stock Exchange Mothers market on 4 April 2018 under ticker 4381, providing an exit for Globis Capital Partners. Tokyo Century Corporation built a stake, agreeing in August 2018 and completing in October 2018 the acquisition of an additional 7.95% holding, and entering a further agreement for a minority stake in May 2019; it is the largest listed shareholder at 24.93%. In February 2023 Bplats agreed to acquire a 10% stake in ITplace Co., Ltd. from SB C&S Corp.
Risks & controversies
Reported results show declining segment sales from ¥945M in FY2023 to ¥706M in FY2025 and negative net income (-¥298M in 2025, with estimated losses for 2026), negative forward P/E ratios, and a share price down sharply over one-, three- and five-year periods, alongside repeated capital raises from Growth Partners. Ownership is concentrated, with Tokyo Century Corporation holding 24.93% and Growth Partners LLP 14.4%.
Compiled by commissioned research from 8 cited public sources — announcements, filings, and press listed under research sources below.
Key figures
latest reportedCompany-reported or press-reported figures, each dated to when it was claimed — not independently audited.
Timeline · 15
launches, deals, and filingsBplats started sales of AMANEX, which provides automatic generation of design documents from source code and RAG-based cross-searching of internal documents.
Bplats and Kuujit announced a business partnership covering support for building AI design-support infrastructure related to AI-driven development.
Bplats participated in founding a consortium of technology-focused companies to support full-scale adoption of AI agents at Japanese firms, with Microsoft Japan joining as a supporting participant. The consortium's marketplace uses Bplats as its platform for handling AI products, contracts and sales management.
Bplats announced on 28 May 2026 that it expected to receive, and on 14 June 2026 that it had received, ¥2.20561 million in funding from Growth Partners Co., Ltd.
Bplats began offering a new affiliate-function option addressing distribution-flow and billing challenges in generative-AI businesses.
Bplats strengthened support for monetizing AI businesses, applying its metered-billing and multi-tier management know-how from cloud, optical collaboration and MVNO operators to pricing and billing based on generative-AI token consumption and GPU resource usage, with expanded implementation support services and functions.
Bplats announced the renewal of its system for FTTH optical collaboration operators, offered as SaaS since 2015, relaunching it as Bplats® Collabo with online order sites, customer My Page and specialised sales management functions from 1 October 2025.
Bplats announced on 27 March 2025 that it expected to receive, and on 13 April 2025 that it had received, ¥301.3888 million in funding from Growth Partners Co., Ltd.
Tokyo Century Corporation entered into an agreement to acquire an undisclosed minority stake in Bplats (TSE: 4381).
Bplats listed on the TSE-Mothers market under ticker 4381, marking an exit for investor Globis Capital Partners.
Globis Capital Partners records an initial investment in Bplats in May 2008 at the Early stage, followed by participation in a third-party share allotment announced 23 June 2008 in the company, which developed and provided SaaS and internet commerce platforms.
Dated company events from announcements, filings, and press; legal rows summarize public dockets and regulator releases.
▸Research sources · 8
primary sources listed
- Bplats, Inc.bplats.co.jp · web
8 public sources were cited for this profile; the first-party ones are listed here.
Frequently asked questions
- What does Bplats, Inc. do?
- Tokyo-listed Japanese provider of Bplats®, a subscription contract, usage-based billing and distribution platform for B2B businesses.
- Who founded Bplats, Inc.?
- Bplats, Inc. was founded by Tack Miyazaki, Kenji Fujita.
- Who are Bplats, Inc.'s investors?
- Bplats, Inc.'s investors include Globis Capital Partners, Nippon Venture Capital.