V-cube, Inc.
Public · 1 known investors
Tokyo-listed provider of cloud visual communication services including web conferencing, webinars and e-learning.
Also known as 3681 · V-cube · V-CUBE
Investors · 1
Company profile
researched Aug 2026V-cube, Inc. is a Japan-based provider of visual communication services, delivered primarily as cloud/SaaS offerings to enterprises, educational institutions and government agencies. Its portfolio covers web meeting services usable from PCs, smartphones and tablets with document sharing, online seminar (webinar) delivery, and text, audio and video communication tools. Named services include the V-CUBE service family, xSync and iStudy, together with a learning management system built on a virtual online platform and a bundled V-CUBE One package that gives access to the company's full service set.
The company was established in October 1998 and is headquartered at NBF Platinum Tower, 1-17-3 Shirokane, Minato-ku, Tokyo, with a sales office in Osaka. As of December 31, 2025 it reported capital including legal capital surplus of JPY 1,832 million and 344 employees on a consolidated basis. Its main business is described as the planning, development, offering, operation and support of visual communication services for enterprise customers. Group companies include Wizlearn Technologies Pte. Ltd. and Pave Education Pte. Ltd. in Singapore, V-cube (Thailand) Co., Ltd., and U.S.-based TEN Holdings, Inc.
Reported segment disclosure splits revenue into an Event DX Business, an Enterprise DX Business and a Third Place DX Business. For fiscal 2025 these segments recorded JPY 3.52 billion, JPY 3.50 billion and JPY 2.84 billion respectively, compared with JPY 4.71 billion, JPY 4.57 billion and JPY 2.21 billion in fiscal 2021.
Business model
V-cube plans, develops, offers, operates and supports cloud-based visual communication services sold to enterprise, education and government customers, complemented by bundled packages such as V-CUBE One, operational support, 24/7 technical support, webcast assistance and dedicated broadcast studios. Revenue is reported across Event DX, Enterprise DX and Third Place DX business segments.
Subscription and service-based sales of cloud visual communication offerings (web conferencing, web seminars, learning management), sold individually or via the V-CUBE One bundle, with associated operational, technical and studio support services.
Traction
As of December 31, 2025 the group employed 344 people. Fiscal 2025 revenue by segment was JPY 3.52 billion (Event DX), JPY 3.50 billion (Enterprise DX) and JPY 2.84 billion (Third Place DX); Japan accounted for JPY 8.85 billion of geographic sales, ahead of Singapore (JPY 510 million) and the United States (JPY 465 million). Segment and Japanese revenues declined from 2021 levels.
Latest developments
In December 2025, U.S. subsidiary TEN Holdings, Inc. completed a fundraising of approximately US$2.25 million by issuing 991,000 new shares at US$2.27 each, cutting V-cube's voting rights in TEN from 50.90% to 38.22%; V-cube expected to keep consolidating TEN for the fiscal year ending December 31, 2025 based on effective control but intends to deconsolidate it from the start of fiscal 2026. The company also flagged a JPY 598 million gain on the sale of investment securities in December 2025. In February 2026 it postponed announcement of its consolidated results for the year ended December 31, 2025, and in March 2026 amended a loan agreement with financial covenants and extended a suspension of scheduled repayments to end-April 2026. In April 2026 it reported delisting risk and signed a sponsor agreement with J-INC, set up a special investigation committee over advisory fee payments, and disclosed a delay in the sponsor deal amid J-INC pricing questions. Masaya Takada's retirement as CEO was announced in March 2026, with Jun Mizutani serving as Representative Director, President & CEO. In June 2026 the company closed a JPY 1.799 billion third-party allotment financing.
▸Full profile — market position, technology, go-to-market, geography, history, risks & controversies
Market position
The company states it has held the No. 1 market share in Japan's web conferencing market for 13 consecutive years, citing Seed Planning, Inc.'s 2020 market study, and has received the Frost & Sullivan Japan Market Share Leadership Award for five consecutive years. It is listed on the Tokyo Stock Exchange Prime Market with a market capitalization reported at JPY 2.9 billion in December 2025.
Technology
Cloud-delivered services requiring no client software installation, network configuration or maintenance; web conferencing engineered to operate over narrowband network lines; webinar streaming supporting up to 10,000 endpoints from a single system; H.264 video encoding; HTML5-based streaming with an in-house developed encoder called Video Streaming Studio; browser-based viewing on Windows, macOS, iOS and Android; interfaces available in English, Chinese (Simplified) and Japanese; chat and questionnaire functions; on-demand video access; ASP/SaaS Information Disclosure certification for security.
Go-to-market
Direct enterprise sales supported by free trials and online inquiry channels, regional websites for multiple Asian markets and the United States, pre-installation network environment checks, post-installation 24/7 technical support and specialized webcasting studios.
Enterprises, educational institutions and government agencies. Use cases cited include telework and work-style reform, sales activity efficiency, in-house training, online seminars and events, recruitment briefings and interviews, ICT in education, remote medical care and reduction of travel time.
Geography
Headquartered in Tokyo with an Osaka sales office; regional websites for Japan, the USA, Malaysia, Indonesia and Taiwan plus a global English site. Group companies operate in Singapore (Wizlearn Technologies, Pave Education), Thailand (V-cube (Thailand)) and the United States (TEN Holdings). Fiscal 2025 sales by geography were JPY 8.85 billion in Japan, JPY 510 million in Singapore, JPY 465 million in the United States and JPY 38.52 million elsewhere.
History
V-cube was established in October 1998 and became a Tokyo Stock Exchange-listed company (ticker 3681). It expanded internationally through group companies in Singapore, Thailand and the United States and built a services portfolio spanning web conferencing, webinars and learning management. In 2015 its service was selected as Best Service among three finalists in the General Information SaaS category at Nikkei Computer's 10th Annual Cloud Ranking. From late 2025 into 2026 the company underwent a period of restructuring involving the planned deconsolidation of its U.S. subsidiary, board and CEO changes, a sponsor agreement with J-INC amid delisting risk, an internal investigation into advisory fee payments and a third-party share allotment.
Risks & controversies
In April 2026 the company was reported to face delisting risk and signed a sponsor deal with J-INC; it subsequently established a special investigation committee regarding advisory fee payments and reported a delay in the sponsor transaction as J-INC questioned pricing. It postponed the announcement of its fiscal 2025 consolidated results in February 2026 and amended a loan agreement with financial covenants, extending suspension of scheduled repayments until the end of April 2026. Reported segment and Japanese revenues declined between fiscal 2021 and fiscal 2025, and a technical sentiment signal of Sell and analyst Hold rating with a JPY 121 price target were reported in December 2025.
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 · 13
launches, deals, and filingsV-cube completed a financing of JPY 1,799,000,059 carried out by way of third-party allotment; the company had announced in May 2026 that it expected to receive the funds.
V-cube flagged a delay in its sponsor transaction as J-INC raised questions over pricing.
V-cube set up a special investigation committee to examine advisory fee payments.
V-cube reported facing delisting risk and signed a sponsor deal with J-INC.
V-cube amended a loan agreement adding financial covenants and extended the suspension of scheduled repayment until the end of April 2026.
Jun Mizutani took the role of Chief Executive Officer and Naoaki Mashita the role of chairman as of this date.
V-cube announced the retirement of Masaya Takada as CEO and further retirements from its board of directors.
V-cube decided to postpone the announcement of its consolidated financial results for the fiscal year ended December 31, 2025.
TEN Holdings, Inc. issued 991,000 new shares at US$2.27 per share, raising approximately US$2.25 million and reducing V-cube's voting rights in TEN from 50.90% to 38.22%.
$2.3M source ↗
V-cube said it expects to continue consolidating TEN Holdings for the fiscal year ending December 31, 2025 based on effective control, but aims to remove TEN from its consolidated scope at the start of the fiscal year ending December 31, 2026, and is assessing the impact on full-year earnings forecasts.
V-cube reported it would book a JPY 598 million gain on the sale of investment securities.
V-cube was selected as Best Service out of three finalists in the General Information SaaS category at the 10th Annual Cloud Ranking by Nikkei Computer.
V-cube was named winner of the Frost & Sullivan Japan Market Share Leadership Award for five consecutive years.
Dated company events from announcements, filings, and press; legal rows summarize public dockets and regulator releases.
In the news
▸Research sources · 8
primary sources listed
- V-cube, Inc.vcube.com · web
8 public sources were cited for this profile; the first-party ones are listed here.
Frequently asked questions
- What does V-cube, Inc. do?
- Tokyo-listed provider of cloud visual communication services including web conferencing, webinars and e-learning.
- Who are V-cube, Inc.'s investors?
- V-cube, Inc.'s investors include Globis Capital Partners.