At a glance, the service provision is strong strength to expand the venture spirit -Fibergate Co., Ltd.

The business owner who leads the business world is looking at the present era, where is he trying to find business opportunities and approach?In the special feature, "The viewpoint of the first -time person who looks at the next generation," interviewed a listed business owner about the current business and future concept.Provide readers with business trends and hints to survive the modern age.

This time, we talked to Masatetsu Inamata, President of Fibergate Co., Ltd.

(Coverage / writing / composition = Yohei Kanno)

I have been developing a business since there is no word "Wi-Fi"

――Please tell us about the background of the current business development.

We are developing independent Wi-Fi solutions that are consistently handled, from equipment manufacturing to telecommunications services.As a business segment, there are "home use business" for housing and "business use business" for business.The company that I was an executive was MBO 18 years ago, changed its name, capital, and location, and started as a major carrier or an Internet provider.

At that time, a major telecommunications carrier was focusing on selling a broadband line to an apartment house, and was mainly a major communication carrier.In Japan, the country is small, so there are inevitably many small apartment housing.In fact, about 2/3 of Japanese rental apartment housing is less than 20 units.Most of the rental apartment houses built by major manufacturers are less than 10 per house.

As a major communication carrier, it is more efficient to have many optical fiber used by many people at the same time, so it is more desirable to have as large as possible.However, small -scale apartment housing has not been able to put much effort because business efficiency is not very efficient."Let's do it on its own," we started an Internet service for apartment housing using wireless LAN, and we started offering service brands to the FGBB® series.It was November 2005.

At that time, it was expensive and difficult to put one LAN cable at a time, so the idea is to focus on wireless LANs and use them to make the entire condominium into a broadband.However, wireless LANs have a characteristic that radio waves are limited to weakness by the radio wave method, and steel frames and reinforcements are difficult to communicate.At first, it was not a problem because it was only small properties, but it was very difficult in response to large -scale RC apartments.

The starting point of the free Wi-Fi business was that the iPhone landed 13 years ago in Japan.Apple said, "It will be a content era in the future. When using content, it consumes a lot of traffic. It is a story that only communication companies make money, so consumers are no longer used."You may have focused on the free Wi-Fi you started.I decided to use the iPhone to use the free Wi-Fi society.

When the iPhone landed in Japan, there was no free Wi-Fi in Japan.The idea that Wi-Fi would pay and receive it was common.However, following the fact that the iPhone landed in Japan, I thought, "This will be free Wi-Fi in Japan."So, in June 2009, we started the free Wi-Fi service "Wi-Fi NEX®".It is mainly introduced in stores.

Wi-Fi is now a pillar of the business, but when I first met Wi-Fi, there was no word "Wi-Fi".This is the flow of putting it into a house (residence Wi-Fi business), and then in the store (free Wi-Fi business).

Cacheout precedent business structure

--thank you.Next, I would like to ask about the performance while looking at the financial results explanation material.In the fiscal year ending June 2021, the result was that sales did not reach expected and profits were more than expected.

The reason why sales did not reach are clear.We sell our own devices to the outside, but this sales have decreased significantly by corona.For example, a business company that we are working with sells various equipment related to stores to do cross-cells and upsels, and we are also dealing with our Wi-Fi.

However, the withdrawal and integration of stores, mainly in restaurants, have increased by corona.The business company mentioned earlier is rented those equipment to the store, and when withdrawal or integration increases, rentals return to hand.It is not that there is no new store, but there are more things that come back than to leave, so we do not need to buy new equipment from us.

Initially, I thought Corona would fit in the fall (2020), but because it was more prolonged than expected, sales decreased.This is about business use (free Wi-Fi business).Home use (residence Wi-Fi business) has increased the number of contracts relatively strongly, but we are basic models because the initial cost is free and we will collect it over 6 years., Compared to the previous term +23.It was 7%, but it did not reach expected.

――Fut numbers are also important for investors.It is assumed that the momentum of business use will return next year (June 2022).

We expect to resolve the adverse effects of Corona.In addition, the stock model, which is the infrastructure business, is accumulated, so it is basically assumed that the full -year sales will increase.Free cash flow is negative at the feet, but it is a business structure of cash -out precedents, such as cost about 2.5 billion yen every year, so I would like investors to understand that.

The strength is that it provides services at a glance

――What do you think your strengths are?

It is providing services at a glance.Large telecommunications companies usually do not make communication equipment on their own.Public telephones were also made by specialized manufacturers, not major communication carriers.Even if you look around the world, you don't make a major telecommunications company yourself.

On the other hand, while we are a telecommunications company, we make devices such as routers.It's actually fabric, but at least we are designed.In addition to that, there are few companies that use other companies' products and in -house the authentication system (a system that tracing who uses it).This authentication system is also quite advanced, and we are proud that it is the same as a communication carrier.

―― Zuu Online is Japan's largest financial economic web media, and many readers are interested in real estate investment.Your company has announced that it will launch, rent, operate, and intermediary on real estate in January 2021, and will start buying and selling real estate, rental, operation, and intermediary.Please tell us about the current status and future of FG Smart Assets.

Because we offer Wi-Fi to condominiums and stores, there are various relationships with the real estate industry.Until now, there have been many requests for "I want to join such a tenant", and it was supported free of charge, but it was established with "Let's make a business."We buy and sell and intermediary at our feet.

In the future, we are thinking of acquiring land, built an IoT apartment with Wi-Fi and so on, and selling it to investors.I've seen many apartments, but honestly, I often think, "It's better to do this a little more," so I would like to make use of it in creating an apartment.

The only thing I want to emphasize is that our main is Wi-Fi, and we want to expand within the range of our important customers, real estate companies.I do not intend to manage the property.If the property is contracted, I would like to join the management company.If you can have a deep relationship with the management company by introducing it, the main Wi-Fi has a synergy effect.

I'm thinking about a "fibergate demolition plan"

―― From here, I would like to ask you about how President Inomata's input method.What kind of learning do you learn every day?

I rarely read how -to -based business books such as "I can learn my sales capabilities like this" and "I should do a presentation this way".However, I read specialized magazines to gain new knowledge.Recently, I have read a lot of books about solar, as I entered the solar business.

I always read the Nikkei Shimbun.I want to check "What kind of advertisement is listed", so I read it on a visual instead of an electronic version.Not only the article itself, but also the advertisement is an important source of information that detects the flow of the world.I tell employees to read them on the visuals and paper instead of the electronic version.

We often watch TV Tokyo's economic programs such as "WBS", "Gaia's Dawn" and "Cumbria Palace".In particular, the Cambria Palace is recording and watching every week.Various managers and businesses are introduced, so you often learn and notice.If you don't know, it's important to check it out online and ask an expert.

――Finally, please tell us about the future concept.

I talked about this at a dialogue with shareholders, but I am thinking of a "fibergate demolition plan".In fact, there are already about 1/3 of those who have joined the company after listing.With that in mind, I am worried that a major corporate disease has begun somewhere.It means that there will be no venture spirit and entrepreneurship.

Therefore, I want to dismantle fibergates for each division, create some subsidiaries, and make a drastic reform so that all subsidiaries aim for IPO.There are many critical voices in the world that "parent -child listing is not governance", but parent -child listing is not always bad.Of course, there are disadvantages, but I think it should be as good as possible.

部門長が子会社の社長になると、社員から「社長」と呼ばれて、勘違いしてしまう懸念もあります。子会社の社長には大きなミッションを持たせたいですね。一番わかりやすいのはIPOです。グループが大きくなると、「この会社をM&Aしたいのだが300億円かかる」といったときに、本体から100億円、子会社Aから50億円、子会社Bから30億円、子会社Cから……、と資金調達の幅も広がります。いずれにせよ現状の時価総額には全く満足していません。改革を進めて、時価総額を大きく引き上げていきたいですね。