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<p>Hi all, I'm once again crowd sourcing FYPD results this year from real drafts of my own and of friends, colleagues, league-mates and readers. Currently I've amassed 15 leagues worth of data and intend to keep adding to it throughout the month of February.</p><div class="kg-card kg-signup-card kg-width-regular " style="background-color:#F0F0F0;display:none"> <div class="kg-signup-card-content"> <div class="kg-signup-card-text "> <h2 class="kg-signup-card-heading" style="color:#000000"><span style="white-space:pre-wrap">Sign up for Prospects Live</span></h2> <p class="kg-signup-card-subheading" style="color:#000000"><span style="white-space:pre-wrap">Your one stop shop for Dynasty Fantasy Baseball, MLB Draft, Baseball Card &amp; MiLB Baseball content. Blending Data &amp; Scouting into our Player Evaluation</span></p> <div class="kg-signup-card-fields"> <input class="kg-signup-card-input" id="email" type="email" required="true" placeholder="Your email" /> <button class="kg-signup-card-button kg-style-accent" style="color:#FFFFFF" type="submit"> <span class="kg-signup-card-button-default">Subscribe</span> <span class="kg-signup-card-button-loading"><svg xmlns="http://www.w3.org/2000/svg" height="24" width="24" viewbox="0 0 24 24"> <circle cx="4" cy="12" r="3"></circle> <circle cx="12" cy="12" r="3"></circle> <circle cx="20" cy="12" r="3"></circle> </svg></span> </button> </div> <div class="kg-signup-card-success" style="color:#000000"> Email sent! Check your inbox to complete your signup. </div> <div class="kg-signup-card-error" style="color:#000000"></div> <p class="kg-signup-card-disclaimer" style="color:#000000"><span style="white-space:pre-wrap">No spam. Unsubscribe anytime.</span></p> </div> </div> </div><div class="gh-paid-content-notice"><h3>This post is for subscribers only</h3><p>Become a member to get access to all content</p><a class="gh-paid-content-cta" href="https://www.prospectslive.com/2026-fypd-adp-v1-0/#/portal/signup">Subscribe now</a></div>

<p>We spend 80% of our time in a built environment that serves as our home, workspace, and leisure space. An additional 10% of our time is spent in motorised transportation, whether private or public. Through its roads, airports, and energy and physical infrastructure, our next recommendation thus serves 90% of our lives.</p><div class="kg-card kg-signup-card kg-width-regular " style="background-color:#F0F0F0;display:none"> <div class="kg-signup-card-content"> <div class="kg-signup-card-text "> <h2 class="kg-signup-card-heading" style="color:#000000"><span style="white-space:pre-wrap">Sign up for our research</span></h2> <p class="kg-signup-card-subheading" style="color:#000000"><span style="white-space:pre-wrap">ByteTree Quality is a model equity portfolio and research service, holding large, liquid companies with sustainable, profitable growth, durable competitive advantages, bought at low valuations.</span></p> <input type="hidden" value="quality-sign-up" /> <div class="kg-signup-card-fields"> <input class="kg-signup-card-input" id="email" type="email" required="true" placeholder="Your email" /> <button class="kg-signup-card-button kg-style-accent" style="color:#FFFFFF" type="submit"> <span class="kg-signup-card-button-default">Sign Up</span> <span class="kg-signup-card-button-loading"><svg xmlns="http://www.w3.org/2000/svg" height="24" width="24" viewbox="0 0 24 24"> <circle cx="4" cy="12" r="3"></circle> <circle cx="12" cy="12" r="3"></circle> <circle cx="20" cy="12" r="3"></circle> </svg></span> </button> </div> <div class="kg-signup-card-success" style="color:#000000"> Email sent! Check your inbox to complete your signup. </div> <div class="kg-signup-card-error" style="color:#000000"></div> <p class="kg-signup-card-disclaimer" style="color:#000000"><span style="white-space:pre-wrap">No spam. Unsubscribe anytime.</span></p> </div> </div> </div><p>It does so in a highly regulated environment, on contracts that generally last for decades and carry built-in price increases, while competitors cannot enter the space. Legally granted pricing power and a lack of competition are incredibly favourable conditions for a business. As long as humans travel, this company will take a fee on every journey. This makes it highly predictable and reliable, which is what the ByteTree Quality strategy seeks.</p><div class="gh-paid-content-notice"><h3>This post is for subscribers only</h3><p>Become a member to get access to all content</p><a class="gh-paid-content-cta" href="https://www.bytetree.com/research/2026/02/regulated-monopolies/#/portal/signup">Subscribe now</a></div>

<p>DG Financial Technology (DGFT), the payment processing subsidiary of Digital Garage (TSE Prime: 4819), has expanded its unified QR code payment solution, "Cloud Pay," to include support for "AEON Pay."</p><div class="kg-card kg-signup-card kg-width-regular " style="background-color:#F0F0F0;display:none"> <div class="kg-signup-card-content"> <div class="kg-signup-card-text kg-align-center"> <h2 class="kg-signup-card-heading" style="color:#000000"><span style="white-space:pre-wrap">Sign up for Japan FinTech Observer</span></h2> <p class="kg-signup-card-subheading" style="color:#000000"><span style="white-space:pre-wrap">Cutting through the noise of Japanese Finance &amp; FinTech</span></p> <div class="kg-signup-card-fields"> <input class="kg-signup-card-input" id="email" type="email" required="true" placeholder="Your email" /> <button class="kg-signup-card-button kg-style-accent" style="color:#FFFFFF" type="submit"> <span class="kg-signup-card-button-default">Subscribe</span> <span class="kg-signup-card-button-loading"><svg xmlns="http://www.w3.org/2000/svg" height="24" width="24" viewbox="0 0 24 24"> <circle cx="4" cy="12" r="3"></circle> <circle cx="12" cy="12" r="3"></circle> <circle cx="20" cy="12" r="3"></circle> </svg></span> </button> </div> <div class="kg-signup-card-success" style="color:#000000"> Email sent! Check your inbox to complete your signup. </div> <div class="kg-signup-card-error" style="color:#000000"></div> <p class="kg-signup-card-disclaimer" style="color:#000000"><span style="white-space:pre-wrap">No spam. Unsubscribe anytime.</span></p> </div> </div> </div><p>This integration connects DGFT’s merchant network with the extensive user base of AEON Financial Service. By enabling acceptance of AEON Pay, which reported a membership base exceeding 10.3 million as of November 2025, DGFT aims to significantly broaden the addressable market for its participating merchants.</p><figure class="kg-card kg-image-card"><img src="https://www.fintechobserver.com/content/images/2026/02/image.png" class="kg-image" alt="" loading="lazy" width="828" height="192" srcset="https://www.fintechobserver.com/content/images/size/w600/2026/02/image.png 600w, https://www.fintechobserver.com/content/images/2026/02/image.png 828w" /></figure><p>Cloud Pay operates as a B2B payment bundling service, allowing merchants to accept multiple QR code payment methods through a single contract with DGFT. With the addition of AEON Pay, the platform now supports nine distinct domestic and international payment brands. This aggregation model is designed to reduce administrative friction for businesses—ranging from retail and dining establishments to the growing automated machine sector, including vending machines and amusement facilities—by eliminating the need to negotiate individual contracts with each payment provider.</p><p>For Digital Garage, the move reinforces its infrastructure positioning in Japan’s competitive cashless payment sector. By integrating a major retail-backed payment method like AEON Pay, DGFT enhances the value proposition of Cloud Pay as a comprehensive "gateway" solution, potentially driving higher transaction volumes and strengthening merchant retention in an increasingly fragmented payment landscape.</p><hr /><figure class="kg-card kg-bookmark-card"><a class="kg-bookmark-container" href="https://www.fintechobserver.com/digital-garage-updates-app-pay-platform-to-bypass-app-store-fees-following-regulatory-shift/"><div class="kg-bookmark-content"><div class="kg-bookmark-title">Digital Garage Updates ‘App Pay’ Platform to Bypass App Store Fees Following Regulatory Shift</div><div class="kg-bookmark-description">Digital Garage has made a significant update to “App Pay,” its third-party payment platform for mobile applications. The new user interface features a “Link-Out” capability designed to align directly with Japan’s “Act on Promotion of Competition for Certain Smartphone Software” (Smartphone Act), which came into full enforcement on December 18,</div><div class="kg-bookmark-metadata"><img class="kg-bookmark-icon" src="https://www.fintechobserver.com/content/images/icon/Newsletter-Small-450.png" alt="" /><span class="kg-bookmark-author">Japan FinTech Observer</span><span class="kg-bookmark-publisher">Norbert Gehrke</span></div></div><div class="kg-bookmark-thumbnail"><img src="https://www.fintechobserver.com/content/images/thumbnail/AppPay-2.png" alt="" /></div></a></figure>

<p>No doubt you have been watching the price of silver in recent days. It has been one hell of a drop, making the fall in the gold price seem placid. Even more remarkable is the fact that both assets are still up on the year.</p><div class="kg-card kg-signup-card kg-width-regular " style="background-color:#F0F0F0;display:none"> <div class="kg-signup-card-content"> <div class="kg-signup-card-text "> <h2 class="kg-signup-card-heading" style="color:#000000"><span style="white-space:pre-wrap">Sign up for our research</span></h2> <p class="kg-signup-card-subheading" style="color:#000000"><span style="white-space:pre-wrap">The Multi-Asset Investor is a diversified portfolio service that blends traditional bonds and equities with alternative assets such as gold, commodities, and crypto. The Whisky and Soda portfolios are designed to be easy to replicate for investors managing their own money. </span></p> <input type="hidden" value="tmai-sign-up" /> <div class="kg-signup-card-fields"> <input class="kg-signup-card-input" id="email" type="email" required="true" placeholder="Your email" /> <button class="kg-signup-card-button kg-style-accent" style="color:#FFFFFF" type="submit"> <span class="kg-signup-card-button-default">Sign Up</span> <span class="kg-signup-card-button-loading"><svg xmlns="http://www.w3.org/2000/svg" height="24" width="24" viewbox="0 0 24 24"> <circle cx="4" cy="12" r="3"></circle> <circle cx="12" cy="12" r="3"></circle> <circle cx="20" cy="12" r="3"></circle> </svg></span> </button> </div> <div class="kg-signup-card-success" style="color:#000000"> Email sent! Check your inbox to complete your signup. </div> <div class="kg-signup-card-error" style="color:#000000"></div> <p class="kg-signup-card-disclaimer" style="color:#000000"><span style="white-space:pre-wrap">No spam. Unsubscribe anytime.</span></p> </div> </div> </div><h3 id="gold-and-silver-in-2026">Gold and Silver in 2026</h3><figure class="kg-card kg-image-card kg-card-hascaption"><img src="https://www.bytetree.com/content/images/2026/02/2026-02-03-tmai-1.png" class="kg-image" alt="" loading="lazy" width="1200" height="608" srcset="https://www.bytetree.com/content/images/size/w600/2026/02/2026-02-03-tmai-1.png 600w, https://www.bytetree.com/content/images/size/w1000/2026/02/2026-02-03-tmai-1.png 1000w, https://www.bytetree.com/content/images/2026/02/2026-02-03-tmai-1.png 1200w" /><figcaption><span style="white-space:pre-wrap">Source: Bloomberg</span></figcaption></figure><p>I believe you make the case for investing in gold and then allocate to silver if you believe the gold-to-silver ratio (GSR) will fall, so you get a little extra. The GSR dropped below 44 last Monday, spiked to 63 on Friday, and now sits at 56. Holding silver is highly profitable while the GSR is falling, but pointless while it is rising. Still, we are better off having held silver in 2025, as returns have been materially higher than gold.</p><h3 id="gold-and-silver-%E2%80%93-past-two-years">Gold and Silver – Past Two Years</h3><figure class="kg-card kg-image-card kg-card-hascaption"><img src="https://www.bytetree.com/content/images/2026/02/2026-02-03-tmai-2.png" class="kg-image" alt="" loading="lazy" width="1200" height="629" srcset="https://www.bytetree.com/content/images/size/w600/2026/02/2026-02-03-tmai-2.png 600w, https://www.bytetree.com/content/images/size/w1000/2026/02/2026-02-03-tmai-2.png 1000w, https://www.bytetree.com/content/images/2026/02/2026-02-03-tmai-2.png 1200w" /><figcaption><span style="white-space:pre-wrap">Source: Bloomberg</span></figcaption></figure><p>When the volatility picks up, I believe it is right to reduce exposure. We have done that twice. Firstly, in October, and secondly, just two weeks ago, at a slightly higher price than where it trades today. Silver exposure is now 4.4%, so it is low enough not to cause too much damage. I will be watching the GSR closely from here, as things settle down.</p><p>The fall in gold and the miners has been less material. Soda has a long-term allocation to gold, which could be reduced if I sensed a gold bear market. So far, I don’t, but fully acknowledge that prices got ahead of events. Gold is the long-term store of value, and the central banks continue to boost their reserves. But that narrative has gone too far, too soon, and so it is time to ask difficult questions.</p><p>I would think we have had the worst, and a recovery will ensue. The good news is that the miners will soon enter earnings season, and the likelihood is that their results will far exceed expectations, even after accounting for the recent falls. Let’s not ignore President Trump’s latest tweet, demanding a $12 trillion strategic US metals reserve. The long-term demand for strategic and precious metals is not going away.</p><p>In recent days, I have written much about the metals, and so I won’t repeat myself:</p><ul><li>Atlas Pulse, “<a href="https://www.bytetree.com/research/2026/01/gold-driven-by-geopolitics-not-macroeconomics/">Gold Driven by Geopolitics, not Macroeconomics</a>”.</li><li>Venture, “<a href="https://www.bytetree.com/research/2026/02/venture-precious-metals-correction/">Precious Metals Correction</a>”.</li><li>BOLD Report, “<a href="https://www.bytetree.com/research/2026/02/bitcoin-and-gold-correction/">Bitcoin and Gold Correction</a>”.</li></ul><p>Please have a look at those for the deep dive.</p><p>These past few days in precious metals remind us how quickly things can change, and why diversification is so important in portfolio management. I want to remind you why I hold quality stocks in the portfolios, and plan to add more.</p><div class="gh-paid-content-notice"><h3>This post is for subscribers only</h3><p>Become a member to get access to all content</p><a class="gh-paid-content-cta" href="https://www.bytetree.com/research/2026/02/safety-first/#/portal/signup">Subscribe now</a></div>

<h2 id="issue-106">Issue 106;</h2><p>After a few brutal days in precious metals, I wanted to highlight some key charts before we get into some portfolio updates. Let’s start with the gold price, which fell by 8.9% on Friday and another 4.9% today. Remarkably, it has returned to its 30-day moving average and remains in an uptrend.</p><div class="kg-card kg-signup-card kg-width-regular " style="background-color:#F0F0F0;display:none"> <div class="kg-signup-card-content"> <div class="kg-signup-card-text "> <h2 class="kg-signup-card-heading" style="color:#000000"><span style="white-space:pre-wrap">Sign up for our research</span></h2> <p class="kg-signup-card-subheading" style="color:#000000"><span style="white-space:pre-wrap">Venture is ideal for experienced private investors looking for deep-value opportunities in global equities. Sign up for free to receive previews of future Venture updates as well as our other research publications.</span></p> <input type="hidden" value="venture-sign-up" /> <div class="kg-signup-card-fields"> <input class="kg-signup-card-input" id="email" type="email" required="true" placeholder="Your email" /> <button class="kg-signup-card-button kg-style-accent" style="color:#FFFFFF" type="submit"> <span class="kg-signup-card-button-default">Sign Up</span> <span class="kg-signup-card-button-loading"><svg xmlns="http://www.w3.org/2000/svg" height="24" width="24" viewbox="0 0 24 24"> <circle cx="4" cy="12" r="3"></circle> <circle cx="12" cy="12" r="3"></circle> <circle cx="20" cy="12" r="3"></circle> </svg></span> </button> </div> <div class="kg-signup-card-success" style="color:#000000"> Email sent! Check your inbox to complete your signup. </div> <div class="kg-signup-card-error" style="color:#000000"></div> <p class="kg-signup-card-disclaimer" style="color:#000000"><span style="white-space:pre-wrap">No spam. Unsubscribe anytime.</span></p> </div> </div> </div><h3 id="gold-usd-bytetrend-score-5-%E2%80%93-daily">Gold USD ByteTrend Score 5 – Daily</h3><figure class="kg-card kg-image-card kg-card-hascaption"><img src="https://www.bytetree.com/content/images/2026/02/2026-02-02-venture-106-1.png" class="kg-image" alt="" loading="lazy" width="1200" height="608" srcset="https://www.bytetree.com/content/images/size/w600/2026/02/2026-02-02-venture-106-1.png 600w, https://www.bytetree.com/content/images/size/w1000/2026/02/2026-02-02-venture-106-1.png 1000w, https://www.bytetree.com/content/images/2026/02/2026-02-02-venture-106-1.png 1200w" /><figcaption><span style="white-space:pre-wrap">Source: Bloomberg</span></figcaption></figure><p>Since 1975, gold’s top ten weakest days are shown in the table below, and Friday’s move came fourth. Most occurred in the 1980 price crash, after the greatest bull of all time. One occurred in 2013, when real interest rates spiked, and another in 2008, when the world liquidated. The only comparable fall occurred in 2006, when gold last corrected from an overbought level within a bull market. I put this down to a historically overbought market.</p><h3 id="gold-top-10-weakest-days-since-1975">Gold: Top 10 Weakest Days since 1975</h3> <table> <tr><td><strong>Date</strong></td><td><strong>Change</strong></td> </tr><tr><td>22/01/1980</td><td>-13%</td> </tr><tr><td>28/02/1983</td><td>-12%</td> </tr><tr><td>15/04/2013</td><td>-9%</td> </tr><tr><td>30/01/2026</td><td>-9%</td> </tr><tr><td>17/03/1980</td><td>-7%</td> </tr><tr><td>26/03/1980</td><td>-7%</td> </tr><tr><td>04/01/1980</td><td>-7%</td> </tr><tr><td>20/02/1980</td><td>-7%</td> </tr><tr><td>13/06/2006</td><td>-7%</td> </tr><tr><td>10/10/2008</td><td>-7%</td> </tr></table> <br /> <p>The relative performance of precious metals to gold tells the story. Silver was the leader, and palladium the laggard. Much of the excess performance came about since the end of November. The size of corrections is roughly proportional to the prior rallies.</p><h3 id="precious-metals-relative-to-gold">Precious Metals Relative to Gold</h3><figure class="kg-card kg-image-card kg-card-hascaption"><img src="https://www.bytetree.com/content/images/2026/02/2026-02-02-venture-106-2.png" class="kg-image" alt="" loading="lazy" width="1200" height="629" srcset="https://www.bytetree.com/content/images/size/w600/2026/02/2026-02-02-venture-106-2.png 600w, https://www.bytetree.com/content/images/size/w1000/2026/02/2026-02-02-venture-106-2.png 1000w, https://www.bytetree.com/content/images/2026/02/2026-02-02-venture-106-2.png 1200w" /><figcaption><span style="white-space:pre-wrap">Source: Bloomberg</span></figcaption></figure><p>Silver has seen the price fall 32% since last week’s peak. There are more leveraged silver ETFs around the world than many had realised. They have wiped out $5bn, with AGQ giving up the most ground. As the silver price ground higher, the leveraged products grew from aggregate assets under management of just over $1bn in October to $7.5bn last week. Until last week, 3SIL was up 8x since late October, and it’s still up 2x after the price crash.</p><h3 id="leveraged-silver-etfs">Leveraged Silver ETFs</h3><figure class="kg-card kg-image-card kg-card-hascaption"><img src="https://www.bytetree.com/content/images/2026/02/2026-02-02-venture-106-3.png" class="kg-image" alt="" loading="lazy" width="1200" height="629" srcset="https://www.bytetree.com/content/images/size/w600/2026/02/2026-02-02-venture-106-3.png 600w, https://www.bytetree.com/content/images/size/w1000/2026/02/2026-02-02-venture-106-3.png 1000w, https://www.bytetree.com/content/images/2026/02/2026-02-02-venture-106-3.png 1200w" /><figcaption><span style="white-space:pre-wrap">Source: Bloomberg</span></figcaption></figure><p>Most of ByteTree Venture’s interest exposure is through the miners. They have behaved relatively conservatively in comparison to leveraged ETFs. The miners have only matched the gold price over five years, when you might reasonably expect more upside. This has cushioned their downside in the recent correction. </p><h3 id="gold-and-gold-miners">Gold and Gold Miners</h3><figure class="kg-card kg-image-card kg-card-hascaption"><img src="https://www.bytetree.com/content/images/2026/02/2026-02-02-venture-106-4-1.png" class="kg-image" alt="" loading="lazy" width="1200" height="629" srcset="https://www.bytetree.com/content/images/size/w600/2026/02/2026-02-02-venture-106-4-1.png 600w, https://www.bytetree.com/content/images/size/w1000/2026/02/2026-02-02-venture-106-4-1.png 1000w, https://www.bytetree.com/content/images/2026/02/2026-02-02-venture-106-4-1.png 1200w" /><figcaption><span style="white-space:pre-wrap">Source: Bloomberg</span></figcaption></figure><p>For the silver miners, even more so. They have heavily lagged silver in the post-October boom, which again, is now a blessing. Their lagging performance suggests investors didn’t fully trust the silver price. The silver stocks have fallen by less than the underlying silver price.</p><h3 id="silver-and-silver-miners">Silver and Silver Miners</h3><figure class="kg-card kg-image-card kg-card-hascaption"><img src="https://www.bytetree.com/content/images/2026/02/2026-02-02-venture-106-5.png" class="kg-image" alt="" loading="lazy" width="1200" height="629" srcset="https://www.bytetree.com/content/images/size/w600/2026/02/2026-02-02-venture-106-5.png 600w, https://www.bytetree.com/content/images/size/w1000/2026/02/2026-02-02-venture-106-5.png 1000w, https://www.bytetree.com/content/images/2026/02/2026-02-02-venture-106-5.png 1200w" /><figcaption><span style="white-space:pre-wrap">Source: Bloomberg</span></figcaption></figure><p>The cat is out of the bag, and precious metals will sooner or later settle down. The narrative got ahead of the price. Last week, gold traded 44% above its 200-day moving average, a level only beaten in 1979. That was too far, too soon.</p><h3 id="gold-deviation-from-trend">Gold Deviation from Trend</h3><figure class="kg-card kg-image-card kg-card-hascaption"><img src="https://www.bytetree.com/content/images/2026/02/2026-02-02-venture-106-6.png" class="kg-image" alt="" loading="lazy" width="1200" height="608" srcset="https://www.bytetree.com/content/images/size/w600/2026/02/2026-02-02-venture-106-6.png 600w, https://www.bytetree.com/content/images/size/w1000/2026/02/2026-02-02-venture-106-6.png 1000w, https://www.bytetree.com/content/images/2026/02/2026-02-02-venture-106-6.png 1200w" /><figcaption><span style="white-space:pre-wrap">Source: Bloomberg</span></figcaption></figure><p>The central banks have underpinned this rally, and it is right to assume that they will turn out to be a stabilising force over the coming months and years.</p><div class="gh-paid-content-notice"><h3>This post is for subscribers only</h3><p>Become a member to get access to all content</p><a class="gh-paid-content-cta" href="https://www.bytetree.com/research/2026/02/venture-precious-metals-correction/#/portal/signup">Subscribe now</a></div>

<p>Paytner, a FinTech firm specializing in factoring services for freelancers, has closed a 2.7 billion yen syndicated loan agreement. The facility, arranged by Mizuho Bank, represents a significant move to fortify the company’s balance sheet without diluting equity, supporting its rapid transaction volume growth.</p><div class="kg-card kg-signup-card kg-width-regular " style="background-color:#F0F0F0;display:none"> <div class="kg-signup-card-content"> <div class="kg-signup-card-text kg-align-center"> <h2 class="kg-signup-card-heading" style="color:#000000"><span style="white-space:pre-wrap">Sign up for Japan FinTech Observer</span></h2> <p class="kg-signup-card-subheading" style="color:#000000"><span style="white-space:pre-wrap">Cutting through the noise of Japanese Finance &amp; FinTech</span></p> <div class="kg-signup-card-fields"> <input class="kg-signup-card-input" id="email" type="email" required="true" placeholder="Your email" /> <button class="kg-signup-card-button kg-style-accent" style="color:#FFFFFF" type="submit"> <span class="kg-signup-card-button-default">Subscribe</span> <span class="kg-signup-card-button-loading"><svg xmlns="http://www.w3.org/2000/svg" height="24" width="24" viewbox="0 0 24 24"> <circle cx="4" cy="12" r="3"></circle> <circle cx="12" cy="12" r="3"></circle> <circle cx="20" cy="12" r="3"></circle> </svg></span> </button> </div> <div class="kg-signup-card-success" style="color:#000000"> Email sent! Check your inbox to complete your signup. </div> <div class="kg-signup-card-error" style="color:#000000"></div> <p class="kg-signup-card-disclaimer" style="color:#000000"><span style="white-space:pre-wrap">No spam. Unsubscribe anytime.</span></p> </div> </div> </div><h3 id="the-facility-structure"><strong>The Facility Structure</strong></h3><p>The financing takes the form of a term loan involving a syndicate of major financial institutions. Mizuho Bank served as the arranger, with participation from the <a href="https://www.fintechobserver.com/upsider-establishes-venture-debt-fund-upsider-blue-dream-growth-fund-2/" rel="noreferrer">UPSIDER BLUE DREAM Growth Fund 2</a> (a limited liability investment partnership), Fukoku Mutual Life Insurance Company, The Shoko Chukin Bank, and The Yamanashi Chuo Bank.</p><p>Notably, the loan is unsecured and non-guaranteed, with no stock acquisition rights attached. This structure allows Paytner to secure substantial liquidity while avoiding the equity dilution typically associated with startup fundraising at this scale.</p><h3 id="strategic-backing-and-monitoring"><strong>Strategic Backing and Monitoring</strong></h3><p>The deal leverages a daily financial monitoring system provided by UPSIDER Capital, a subsidiary of the arranger. This high-frequency oversight allowed the participating financial institutions to underwrite the credit risk of a high-growth startup, facilitating a syndication of unusual scale for a company in this phase.</p><blockquote><strong>Eiki Uchida, General Manager of the Aoyama Corporate Division at Mizuho Bank, commented on the deal:</strong> "Paytner continues to demonstrate rapid growth, addressing social issues related to cash flow for freelancers. We highly value their business model and future potential. This arrangement diversifies their funding sources for receivable purchases and will powerfully back their continued expansion."</blockquote><h3 id="operational-growth"><strong>Operational Growth</strong></h3><p>Paytner operates an online factoring service that allows freelancers to monetize invoices in as little as 10 minutes. Since launching in September 2019, the company has seen its annual factoring transaction volume expand by 876-fold over six years. As of October 2025, cumulative loan applications surpassed 500,000.</p><p>The proceeds from this financing round are earmarked for purchasing receivables to support transaction volume expansion and for the development of new features.</p><h3 id="corporate-developments"><strong>Corporate Developments</strong></h3><p>Alongside the financing, Paytner announced it is aggressively hiring across multiple divisions, including Product Management, BizOps, Finance, and Engineering, to support its scaling operations. The company was recently recognized in the "Technology Fast 50 2024 Japan" and continues to gain traction in the Japanese FinTech sector.</p><hr /><figure class="kg-card kg-bookmark-card"><a class="kg-bookmark-container" href="https://www.fintechobserver.com/upsider-establishes-venture-debt-fund-upsider-blue-dream-growth-fund-2/"><div class="kg-bookmark-content"><div class="kg-bookmark-title">UPSIDER Establishes Venture Debt Fund “UPSIDER BLUE DREAM Growth Fund 2”</div><div class="kg-bookmark-description">UPSIDER Capital Corporation, a subsidiary of UPSIDER Corporation, has completed the final close of the second fund “UPSIDER BLUE DREAM Growth Fund 2”, within the venture debt fund “UPSIDER BLUE DREAM Fund” operated as a joint venture with Mizuho Financial Group. This Fund includes participation from multiple new investors including</div><div class="kg-bookmark-metadata"><img class="kg-bookmark-icon" src="https://www.fintechobserver.com/content/images/icon/Newsletter-Small-432.png" alt="" /><span class="kg-bookmark-author">Japan FinTech Observer</span><span class="kg-bookmark-publisher">Norbert Gehrke</span></div></div><div class="kg-bookmark-thumbnail"><img src="https://www.fintechobserver.com/content/images/thumbnail/Upsider-1.png" alt="" /></div></a></figure>

<p>ITFOR (TSE Prime: 4743), a leading provider of financial IT solutions, has integrated DSK Payment’s electronic barcode solution "PAYSLE" into its automated payment guidance service, "Pay Collect." This strategic move aims to digitize the entire dunning and collection process, significantly reducing the lead time for receivables recovery while addressing labor shortages in call centers.</p><div class="kg-card kg-signup-card kg-width-regular " style="background-color:#F0F0F0;display:none"> <div class="kg-signup-card-content"> <div class="kg-signup-card-text kg-align-center"> <h2 class="kg-signup-card-heading" style="color:#000000"><span style="white-space:pre-wrap">Sign up for Japan FinTech Observer</span></h2> <p class="kg-signup-card-subheading" style="color:#000000"><span style="white-space:pre-wrap">Cutting through the noise of Japanese Finance &amp; FinTech</span></p> <div class="kg-signup-card-fields"> <input class="kg-signup-card-input" id="email" type="email" required="true" placeholder="Your email" /> <button class="kg-signup-card-button kg-style-accent" style="color:#FFFFFF" type="submit"> <span class="kg-signup-card-button-default">Subscribe</span> <span class="kg-signup-card-button-loading"><svg xmlns="http://www.w3.org/2000/svg" height="24" width="24" viewbox="0 0 24 24"> <circle cx="4" cy="12" r="3"></circle> <circle cx="12" cy="12" r="3"></circle> <circle cx="20" cy="12" r="3"></circle> </svg></span> </button> </div> <div class="kg-signup-card-success" style="color:#000000"> Email sent! Check your inbox to complete your signup. </div> <div class="kg-signup-card-error" style="color:#000000"></div> <p class="kg-signup-card-disclaimer" style="color:#000000"><span style="white-space:pre-wrap">No spam. Unsubscribe anytime.</span></p> </div> </div> </div><h3 id="bridging-the-digital-gap-in-collections"><strong>Bridging the Digital Gap in Collections</strong></h3><p>The integration allows ITFOR to bridge the traditional time lag associated with physical mailing. By linking "Pay Collect"—a SaaS platform that automates payment reminders and promises—with "PAYSLE," companies can now send electronic barcodes directly to a debtor's smartphone via SMS or email. This eliminates the need for physical payment slips, allowing end-users to settle payments immediately at convenience stores.</p><h3 id="background-operational-efficiency-amid-labor-shortages"><strong>Background: Operational Efficiency Amid Labor Shortages</strong></h3><p>The initiative comes at a time when Japanese enterprises face a critical shortage of operators for credit control and administrative tasks. "Pay Collect" leverages ITFOR’s expertise—derived from managing approximately 180 debt management systems nationwide—to automate routine reminder calls and payment guidance. The addition of PAYSLE is expected to further streamline operations, reducing the reliance on manual intervention while enhancing customer convenience.</p><h3 id="process-overview"><strong>Process Overview</strong></h3><figure class="kg-card kg-image-card"><img src="https://www.fintechobserver.com/content/images/2026/01/image-3.png" class="kg-image" alt="" loading="lazy" width="1024" height="523" srcset="https://www.fintechobserver.com/content/images/size/w600/2026/01/image-3.png 600w, https://www.fintechobserver.com/content/images/size/w1000/2026/01/image-3.png 1000w, https://www.fintechobserver.com/content/images/2026/01/image-3.png 1024w" /></figure><p>The "Pay Collect" system manages the lifecycle of the collection process, from importing target data (via CSV or API) to sending notifications (SMS/Email) and recording results. With the new integration:</p><ol><li><strong>Notification:</strong> The system automatically notifies the customer of the payment due.</li><li><strong>Digital Billing:</strong> A "PAYSLE" electronic barcode is generated on the customer's smartphone.</li><li><strong>Settlement:</strong> The customer scans the barcode at a convenience store register to pay cash, bypassing the need for printed forms or kiosk terminals.</li></ol><h3 id="projected-market-impact"><strong>Projected Market Impact</strong></h3><p>The integration offers distinct advantages for both corporate clients and consumers:</p><ul><li><strong>For Enterprises (Creditors):</strong> The digitization of the process from reminder to settlement enables immediate action, effectively shortening the Days Sales Outstanding (DSO). Furthermore, the elimination of physical payment slips reduces printing and postage costs.</li><li><strong>For Consumers:</strong> The solution offers friction-free payments. Users can pay at convenience stores during their commute or while running errands without the risk of losing physical bills or forgetting them at home.</li></ul><h3 id="about-itfor"><strong>About ITFOR</strong></h3><p>Headquartered in Chiyoda-ku, Tokyo, and led by President Koji Sakata, ITFOR provides a wide range of IT services catering to financial institutions, local governments, and the retail/EC sectors. Listed on the Tokyo Stock Exchange Prime Market, the company focuses on regional revitalization and digital infrastructure solutions, including cashless payment systems and contact center technologies.</p><hr /><figure class="kg-card kg-bookmark-card"><a class="kg-bookmark-container" href="https://luma.com/7f6qchzy"><div class="kg-bookmark-content"><div class="kg-bookmark-title">Tokyo FinTech Meetup (In-Person/Offline) · Luma</div><div class="kg-bookmark-description">Real people, real conversations, real relatrionships. We are super-excited to welcome Hitoshi Harada, Co-Founder &amp; CPO of Alpaca, and Brian Yun, Co-Founder &amp;…</div><div class="kg-bookmark-metadata"><img class="kg-bookmark-icon" src="https://www.fintechobserver.com/content/images/icon/apple-touch-icon.png" alt="" /><span class="kg-bookmark-author">Norbert Gehrke</span></div></div><div class="kg-bookmark-thumbnail"><img src="https://www.fintechobserver.com/content/images/thumbnail/event-one" alt="" /></div></a></figure>

<p>ANRI, a Tokyo-based independent venture capital firm, has established "ANRI Fund No. 6," an investment vehicle with a targeted final corpus of 30 billion yen. The firm also disclosed the launch of the "ANRI Pre-Seed Program," a strategic initiative funded directly from the firm’s balance sheet designed to support founders facing high levels of uncertainty.</p><div class="kg-card kg-signup-card kg-width-regular " style="background-color:#F0F0F0;display:none"> <div class="kg-signup-card-content"> <div class="kg-signup-card-text kg-align-center"> <h2 class="kg-signup-card-heading" style="color:#000000"><span style="white-space:pre-wrap">Sign up for Japan FinTech Observer</span></h2> <p class="kg-signup-card-subheading" style="color:#000000"><span style="white-space:pre-wrap">Cutting through the noise of Japanese Finance &amp; FinTech</span></p> <div class="kg-signup-card-fields"> <input class="kg-signup-card-input" id="email" type="email" required="true" placeholder="Your email" /> <button class="kg-signup-card-button kg-style-accent" style="color:#FFFFFF" type="submit"> <span class="kg-signup-card-button-default">Subscribe</span> <span class="kg-signup-card-button-loading"><svg xmlns="http://www.w3.org/2000/svg" height="24" width="24" viewbox="0 0 24 24"> <circle cx="4" cy="12" r="3"></circle> <circle cx="12" cy="12" r="3"></circle> <circle cx="20" cy="12" r="3"></circle> </svg></span> </button> </div> <div class="kg-signup-card-success" style="color:#000000"> Email sent! Check your inbox to complete your signup. </div> <div class="kg-signup-card-error" style="color:#000000"></div> <p class="kg-signup-card-disclaimer" style="color:#000000"><span style="white-space:pre-wrap">No spam. Unsubscribe anytime.</span></p> </div> </div> </div><h3 id="fund-no-6-deep-tech-and-internet-focus"><strong>Fund No. 6: Deep Tech and Internet Focus</strong></h3><p>Building on the momentum of its predecessor, Fund No. 6 aims to be one of Japan’s largest seed-stage funds. The vehicle will maintain the firm's broad investment mandate, deploying capital across sectors ranging from consumer internet services to life sciences and deep tech.</p><p>The firm stated that by combining the scale of a 30 billion yen fund with the agility of the new pre-seed program, it intends to balance the swift decision-making characteristic of smaller funds with the continuous follow-on support typical of larger institutional funds.</p><h3 id="new-pre-seed-architecture"><strong>New Pre-Seed Architecture</strong></h3><p>Coinciding with the new fund, ANRI introduced the "ANRI Pre-Seed Program." This initiative is distinct in that investments are made from ANRI’s corporate entity rather than the LP-backed fund. The program targets the "pre-angel" phase, offering flexible capital to entrepreneurs navigating unproven business models or significant technical risks.</p><figure class="kg-card kg-image-card"><img src="https://www.fintechobserver.com/content/images/2026/01/Gemini_Generated_Image_ilxp00ilxp00ilxp.png" class="kg-image" alt="" loading="lazy" width="1536" height="2784" srcset="https://www.fintechobserver.com/content/images/size/w600/2026/01/Gemini_Generated_Image_ilxp00ilxp00ilxp.png 600w, https://www.fintechobserver.com/content/images/size/w1000/2026/01/Gemini_Generated_Image_ilxp00ilxp00ilxp.png 1000w, https://www.fintechobserver.com/content/images/2026/01/Gemini_Generated_Image_ilxp00ilxp00ilxp.png 1536w" /></figure><p>Key features of the program include:</p><ul><li><strong>Instrument:</strong> Exclusive use of J-KISS (Keep It Simple Security) convertibles.</li><li><strong>Ticket Size:</strong> 3 to 5 million yen.</li><li><strong>Terms:</strong> No valuation caps or discounts to ensure speed; focused purely on enabling immediate execution.</li><li><strong>Strategy:</strong> Designed to prioritize founder autonomy and increase the sheer volume of new ventures by removing early fundraising friction.</li></ul><p>In a statement, the firm noted that while the recent surplus of seed capital in the ecosystem is positive, early over-capitalization can sometimes restrict a founder's ability to pivot. This program aims to solve that liquidity trap by offering "no-strings" capital to validate concepts before entering the traditional VC cycle.</p><h3 id="leadership-expansion"><strong>Leadership Expansion</strong></h3><p>ANRI also announced the expansion of its General Partner (GP) partnership to a four-person structure. Shunsuke Nakaji and Yusuke Miyazaki have been promoted to General Partner, joining existing GPs Anri Samata and Junichiro Kawano.</p><p>Both Nakaji and Miyazaki joined the firm in 2018 and have successfully transitioned from associates to leadership roles, validating ANRI’s internal talent development strategy.</p><ul><li><strong>Shunsuke Nakaji:</strong> Formerly of Google Japan and DCM Ventures, Nakaji has led investments in LUUP, Plott, and Dinii.</li><li><strong>Yusuke Miyazaki:</strong> Holding a Ph.D. from Stanford University and formerly with BCG, Miyazaki specializes in the life sciences sector. His portfolio includes Strand Therapeutics and xFOREST Therapeutics.</li></ul><h3 id="about-anri"><strong>About ANRI</strong></h3><p>Founded in 2012, ANRI is an independent venture capital firm that has supported over 300 startups since its inception. Self-styled as "Changer Capital," the firm focuses on seed-stage investments with the goal of fostering companies that can realize an "overwhelming future."</p><hr /><figure class="kg-card kg-bookmark-card"><a class="kg-bookmark-container" href="https://www.fintechobserver.com/payment-movement-jamm-raises-approximately-500-million-yen-in-seed-round/"><div class="kg-bookmark-content"><div class="kg-bookmark-title">Jamm Pay Raises Approximately JPY 500m in Seed Round</div><div class="kg-bookmark-description">Jamm, which aims to realize a free payment society, has completed a fundraising of 496 million yen through third-party allocation with ANRI and XTech Ventures as co-leads, and DG Daiwa Ventures and Riku Sugie (former Paidy CEO) as participants. About “Digital Cash Payment! Jamm” “Digital Cash Payment! Jamm” is a</div><div class="kg-bookmark-metadata"><img class="kg-bookmark-icon" src="https://www.fintechobserver.com/content/images/icon/Newsletter-Small-431.png" alt="" /><span class="kg-bookmark-author">Japan FinTech Observer</span><span class="kg-bookmark-publisher">Norbert Gehrke</span></div></div><div class="kg-bookmark-thumbnail"><img src="https://www.fintechobserver.com/content/images/thumbnail/Jamm.png" alt="" /></div></a></figure>

<p>Mitsubishi UFJ Bank (MUFG Bank) has adopted LayerX's "Ai Workforce" platform to overhaul operations within its Solution Products Division (SPD). The implementation marks a significant shift toward digitizing the lifecycle of highly specialized financial instruments, from initial proposals through to mid-term management.</p><div class="kg-card kg-signup-card kg-width-regular " style="background-color:#F0F0F0;display:none"> <div class="kg-signup-card-content"> <div class="kg-signup-card-text kg-align-center"> <h2 class="kg-signup-card-heading" style="color:#000000"><span style="white-space:pre-wrap">Sign up for Japan FinTech Observer</span></h2> <p class="kg-signup-card-subheading" style="color:#000000"><span style="white-space:pre-wrap">Cutting through the noise of Japanese Finance &amp; FinTech</span></p> <div class="kg-signup-card-fields"> <input class="kg-signup-card-input" id="email" type="email" required="true" placeholder="Your email" /> <button class="kg-signup-card-button kg-style-accent" style="color:#FFFFFF" type="submit"> <span class="kg-signup-card-button-default">Subscribe</span> <span class="kg-signup-card-button-loading"><svg xmlns="http://www.w3.org/2000/svg" height="24" width="24" viewbox="0 0 24 24"> <circle cx="4" cy="12" r="3"></circle> <circle cx="12" cy="12" r="3"></circle> <circle cx="20" cy="12" r="3"></circle> </svg></span> </button> </div> <div class="kg-signup-card-success" style="color:#000000"> Email sent! Check your inbox to complete your signup. </div> <div class="kg-signup-card-error" style="color:#000000"></div> <p class="kg-signup-card-disclaimer" style="color:#000000"><span style="white-space:pre-wrap">No spam. Unsubscribe anytime.</span></p> </div> </div> </div><h3 id="addressing-the-complexity-of-specialized-finance"><strong>Addressing the Complexity of Specialized Finance</strong></h3><p>MUFG Bank’s SPD handles a sophisticated portfolio, including syndicated loans, real estate finance, M&amp;A finance, and securitization. These products generally involve complex structures and unique operational requirements that legacy systems have struggled to accommodate, leaving the bank reliant on labor-intensive manual processes.</p><p>LayerX’s "Ai Workforce" was selected for its ability to flexibly design and execute workflows that require parsing diverse contract formats and extracting specific information, a capability deemed essential for improving productivity while maintaining the rigorous standards required in high-level finance.</p><h3 id="key-operational-improvements"><strong>Key Operational Improvements</strong></h3><p>The deployment focuses on automating data extraction and enhancing knowledge sharing across the division:</p><ul><li><strong>Streamlined Mid-term Management:</strong> The system automatically extracts critical data from loan agreements and synthesizes it into management formats. By cross-referencing output data with the specific source clauses in the original contracts, the bank has improved the speed and accuracy of handovers to middle and back-office teams.</li><li><strong>Faster Real Estate Appraisal Analysis:</strong> The AI extracts approximately 100 distinct data points from real estate appraisal reports, which vary in format by appraisal firm. This automation has cut the time required for credit rating operations by 50%, reducing a task that previously took 60 minutes of manual entry to roughly 30 minutes.</li><li><strong>Enhanced Knowledge Sharing:</strong> The platform indexes past proposals and contracts, tagging them with specific attributes such as deal scheme, asset type, and negotiation history. This allows teams to leverage institutional knowledge, comparing past terms and applying insights from similar cases to accelerate and improve the quality of new proposals.</li></ul><h3 id="future-outlook"><strong>Future Outlook</strong></h3><p>Currently implemented in five pilot groups within the SPD, MUFG Bank intends to expand the use of "Ai Workforce" to other groups within the division. The bank aims to achieve an "End-to-End" reform of its business processes—covering everything from origination to redemption—and is exploring the use of the platform for drafting contracts and conducting document reviews.</p><h3 id="about-the-technology"><strong>About the Technology</strong></h3><p>"Ai Workforce" is an AI platform designed to combine autonomous agents with stable workflow automation. It specializes in processing unstructured documents (PDF, Word, Excel) and is utilized to break down data silos between departments by enabling continuous automation of diverse tasks.</p><hr /><figure class="kg-card kg-bookmark-card"><a class="kg-bookmark-container" href="https://www.fintechobserver.com/mufg-ban-invests-in-layerx/"><div class="kg-bookmark-content"><div class="kg-bookmark-title">MUFG Bank and MUFG Innovation Partners Invest in LayerX</div><div class="kg-bookmark-description">MUFG Bank and MUFG Innovation Partners (MUIP), both consolidated subsidiaries of Mitsubishi UFJ Financial Group (MUFG), have made an investment in LayerX, a startup focused on equipping society with AI-centered software. MUFG Bank also signed a strategic partnership memorandum of understanding with LayerX to further deepen their collaborative relationship. MUIP’</div><div class="kg-bookmark-metadata"><img class="kg-bookmark-icon" src="https://www.fintechobserver.com/content/images/icon/Newsletter-Small-430.png" alt="" /><span class="kg-bookmark-author">Japan FinTech Observer</span><span class="kg-bookmark-publisher">Norbert Gehrke</span></div></div><div class="kg-bookmark-thumbnail"><img src="https://www.fintechobserver.com/content/images/thumbnail/MUFG-LayerX-1.png" alt="" /></div></a></figure>

<p>Mizuho Securities has successfully deployed "Devin," an autonomous AI software engineer, created by US-based Cognition AI. The initiative was led by ULS Consulting and marks the first large-scale adoption of the technology by a major Japanese financial institution, signaling a significant shift toward AI-driven development in the country's securities broking sector.</p><div class="kg-card kg-signup-card kg-width-regular " style="background-color:#F0F0F0;display:none"> <div class="kg-signup-card-content"> <div class="kg-signup-card-text kg-align-center"> <h2 class="kg-signup-card-heading" style="color:#000000"><span style="white-space:pre-wrap">Sign up for Japan FinTech Observer</span></h2> <p class="kg-signup-card-subheading" style="color:#000000"><span style="white-space:pre-wrap">Cutting through the noise of Japanese Finance &amp; FinTech</span></p> <div class="kg-signup-card-fields"> <input class="kg-signup-card-input" id="email" type="email" required="true" placeholder="Your email" /> <button class="kg-signup-card-button kg-style-accent" style="color:#FFFFFF" type="submit"> <span class="kg-signup-card-button-default">Subscribe</span> <span class="kg-signup-card-button-loading"><svg xmlns="http://www.w3.org/2000/svg" height="24" width="24" viewbox="0 0 24 24"> <circle cx="4" cy="12" r="3"></circle> <circle cx="12" cy="12" r="3"></circle> <circle cx="20" cy="12" r="3"></circle> </svg></span> </button> </div> <div class="kg-signup-card-success" style="color:#000000"> Email sent! Check your inbox to complete your signup. </div> <div class="kg-signup-card-error" style="color:#000000"></div> <p class="kg-signup-card-disclaimer" style="color:#000000"><span style="white-space:pre-wrap">No spam. Unsubscribe anytime.</span></p> </div> </div> </div><h3 id="strategic-ai-investment"><strong>Strategic AI Investment</strong></h3><p>The deployment is part of a broader push by Mizuho Financial Group, which has committed to investing up to 100 billion yen in AI-related initiatives between fiscal years 2026 and 2028. Facing a chronic shortage of engineering talent and a need for greater business agility, Mizuho Securities is leveraging generative AI to fundamentally overhaul its system development processes.</p><p>According to the company, the decision to adopt Devin followed a successful trial period initiated in September 2025, which confirmed substantial productivity gains. Full-scale operations are scheduled to commence in April 2026.</p><h3 id="uls-consulting%E2%80%99s-role"><strong>ULS Consulting’s Role</strong></h3><p>Leveraging over two decades of experience in developing and maintaining Mizuho’s information systems, ULS Consulting led the integration project. The firm worked in close coordination with US-based Cognition AI—the creator of Devin—to establish a dedicated environment that meets the strict security standards required by financial institutions.</p><p>In addition to technical implementation, ULS Consulting is providing comprehensive support, including the redesign of development workflows and the formulation of usage guidelines to maximize the efficacy of the AI workforce.</p><h3 id="industry-implications"><strong>Industry Implications</strong></h3><blockquote>"In a Japanese society facing population decline, the utilization of generative AI is one of our most critical challenges," <strong>said Tsuyoshi Sugitani, Senior Technical Director at Mizuho Securities’ IT &amp; Systems Group.</strong> "By taking the initiative, Mizuho aims to lead AI utilization among domestic enterprises. We intend to share the knowledge gained through this operation widely, contributing to the Japanese economy as a whole."</blockquote><blockquote><strong>Scott Wu, CEO of Cognition AI, commented on the partnership: </strong>"Mizuho Securities has long been a driver of digital adoption within the Mizuho Financial Group. We are proud that Devin has been selected to support their continued innovation."</blockquote><h3 id="about-the-technology"><strong>About the Technology</strong></h3><p>Devin is described as the world’s first fully autonomous AI software engineer. Unlike standard coding assistants, Devin can comprehend natural language requests to plan development stages, operate necessary tools, and autonomously handle coding, testing, and deployment. It is also capable of investigating legacy systems and generating documentation, allowing small teams to manage large-scale system development.</p><hr /><figure class="kg-card kg-bookmark-card"><a class="kg-bookmark-container" href="https://www.fintechobserver.com/fujitsu-and-mizuho-target-sme-efficiency-crisis-with-automated-payment-and-data-platform/"><div class="kg-bookmark-content"><div class="kg-bookmark-title">Fujitsu and Mizuho Target SME Efficiency Crisis with Automated Payment and Data Platform</div><div class="kg-bookmark-description">Fujitsu and Mizuho Bank have entered into a strategic collaboration aimed at overhauling the fragmented infrastructure of business-to-business (B2B) transactions in Japan. The partnership seeks to introduce a new order and payment processing service designed to streamline operations for Small and Medium-sized Enterprises (SMEs), aimed at cutting manual administrative workloads</div><div class="kg-bookmark-metadata"><img class="kg-bookmark-icon" src="https://www.fintechobserver.com/content/images/icon/Newsletter-Small-427.png" alt="" /><span class="kg-bookmark-author">Japan FinTech Observer</span><span class="kg-bookmark-publisher">Norbert Gehrke</span></div></div><div class="kg-bookmark-thumbnail"><img src="https://www.fintechobserver.com/content/images/thumbnail/Fujitsu-Mizuho.png" alt="" /></div></a></figure>

<p>Tokyo-based fintech startup Ocean has officially launched the "Tax-Free LINE Mini App" in order to capitalize on Japan’s booming inbound tourism market and impending regulatory shifts. The service, which the company claims is a global first, integrates tax-free refund processing directly into the LINE messaging platform, eliminating the need for tourists to download standalone applications.</p><div class="kg-card kg-signup-card kg-width-regular " style="background-color:#F0F0F0;display:none"> <div class="kg-signup-card-content"> <div class="kg-signup-card-text kg-align-center"> <h2 class="kg-signup-card-heading" style="color:#000000"><span style="white-space:pre-wrap">Sign up for Japan FinTech Observer</span></h2> <p class="kg-signup-card-subheading" style="color:#000000"><span style="white-space:pre-wrap">Cutting through the noise of Japanese Finance &amp; FinTech</span></p> <div class="kg-signup-card-fields"> <input class="kg-signup-card-input" id="email" type="email" required="true" placeholder="Your email" /> <button class="kg-signup-card-button kg-style-accent" style="color:#FFFFFF" type="submit"> <span class="kg-signup-card-button-default">Subscribe</span> <span class="kg-signup-card-button-loading"><svg xmlns="http://www.w3.org/2000/svg" height="24" width="24" viewbox="0 0 24 24"> <circle cx="4" cy="12" r="3"></circle> <circle cx="12" cy="12" r="3"></circle> <circle cx="20" cy="12" r="3"></circle> </svg></span> </button> </div> <div class="kg-signup-card-success" style="color:#000000"> Email sent! Check your inbox to complete your signup. </div> <div class="kg-signup-card-error" style="color:#000000"></div> <p class="kg-signup-card-disclaimer" style="color:#000000"><span style="white-space:pre-wrap">No spam. Unsubscribe anytime.</span></p> </div> </div> </div><h3 id="streamlining-the-inbound-experience"><strong>Streamlining the Inbound Experience</strong></h3><p>Ocean’s new digital tool arrives as the Japanese retail sector prepares for a major structural change. Effective November 2026, Japan will transition its tax-free shopping system from the current "exemption at purchase" model to a "post-purchase refund" (tax refund) model. This regulatory pivot is expected to increase administrative friction for both retailers and tourists.</p><p>Ocean’s solution addresses this bottleneck by leveraging the ubiquity of the LINE app, which holds dominant market share in key source markets for Japanese tourism, including Taiwan, Thailand, and South Korea. By utilizing a "Mini App" architecture, the service allows travelers to manage tax-free purchases and apply for refunds within their existing communication environment, bypassing the friction of app store downloads and complex registration processes.</p><h3 id="strategic-market-fit"><strong>Strategic Market Fit</strong></h3><blockquote>"We viewed the upcoming change in the tax-free system not merely as a compliance hurdle, but as an opportunity to evolve the tourism experience," <strong>said Ocean in a statement.</strong> "By utilizing AI, OCR, and a robust data infrastructure, we are pursuing the digital transformation of tax-free operations to alleviate the burden on frontline retail staff and enhance convenience for visitors."</blockquote><p>Key features of the platform include:</p><ul><li><strong>Frictionless Onboarding:</strong> Users can log in using their LINE ID without additional registration.</li><li><strong>Real-Time Tracking:</strong> Tourists can monitor the status of their refund applications instantly, a crucial feature under the new refund-based tax regime.</li><li><strong>Integrated Support:</strong> Customer service is handled directly through LINE chat, lowering language barriers.</li></ul><h3 id="future-outlook-and-corporate-profile"><strong>Future Outlook and Corporate Profile</strong></h3><p>Ocean intends to use the LINE Mini App as an entry point into the broader "inbound shopping ecosystem." The company plans to expand its services to accommodate non-LINE users by adapting to the preferred digital tools of other regions, aiming to create a seamless shopping environment for all international visitors.</p><p>Founded in May 2024 and led by CEO Haruka Hoshino, Ocean is headquartered in Minato-ku, Tokyo. As of January 2026, the company reports capital of approximately 138 million JPY (including capital reserves). This launch follows a trajectory of rapid development, with the company securing Privacy Mark certification in December 2025 and closing a funding round in November 2025.</p><hr /><figure class="kg-card kg-bookmark-card"><a class="kg-bookmark-container" href="https://www.fintechobserver.com/digital-wallet-supports-revised-tax-free-shopping-for-inbound-tourists/"><div class="kg-bookmark-content"><div class="kg-bookmark-title">Digital Wallet Supports Revised Tax-Free Shopping for Inbound Tourists</div><div class="kg-bookmark-description">It facilitates the overseas remittance of consumption tax refunds to international visitors after completing the tax-free shopping procedure.</div><div class="kg-bookmark-metadata"><img class="kg-bookmark-icon" src="https://www.fintechobserver.com/content/images/icon/Newsletter-Small-426.png" alt="" /><span class="kg-bookmark-author">Japan FinTech Observer</span><span class="kg-bookmark-publisher">Norbert Gehrke</span></div></div><div class="kg-bookmark-thumbnail"><img src="https://www.fintechobserver.com/content/images/thumbnail/DW-Tax-Refund.png" alt="" /></div></a></figure>

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