Compass Corp. (Head Office: Chuo-ku, Tokyo, CEO: Fumito Sasaki) operates businesses in various fields in the tourism and inbound fields, and has conducted a Pre-Series A round of funds managed by Midas Capital as underwriters, for a total of 400 million yen. In addition, in the year or so since its establishment, many qualified individuals have joined the company and a new management structure has been implemented.
Established in December 2022 with the mission and vision of “Leading Tourism in Japan, and Connecting Culture to the Next Generation,” Compass Corp. has acquired a kimono rental business, merged with Knot World Co., Ltd. which provides optional tours for tourists visiting Japan and tourism-related consulting services for local governments and other organizations, as well as merged with AirTrip Stay Co., Ltd., which supports individuals and corporations entering the lodging industry, all in just one year.
Along with the comeback of the tourism and inbound markets, the number of guests using our services has increased rapidly, and currently stands at approximately 100,000 per year. We aim to have 300,000 guests in 2024 by creating appealing content and improving guest satisfaction.
In addition, as Japan faces a labor shortage due to a declining population among other issues, we believe it is necessary to promote operational efficiency among tourism workers in order to make the tourism industry sustainable. The funds obtained through this funding will be invested in the expansion of existing businesses to increase guest numbers, the development of new businesses, and measures to improve the working environment for tourism workers, with the aim of accomplishing our mission and vision of “Leading Tourism in Japan, and Connecting Culture to the Next Generation.”
The main uses of the funds obtained are as follows.
With the aim of making our services available to an even greater number of guests, we intend to increase the number of Wargo Kimono Rental stores from 8 to 10 or more by the end of 2024.
We aim to expand content in the travel business for our guests, branch out into neighboring areas in the lodging management business, and expand revenue opportunities through M&A.
As our number of guests increases, we will continue to hire new employees in each business, and at the same time hire new employees in product development, marketing, human resources, corporate, and other areas that contribute to improving the operational efficiency of tourism personnel.
In addition to Mr. Sasaki, Mr. Sawahata, and Mr. Kono who managed Knot World Co., Ltd. and AirTrip Stay Co., Ltd. before the merger, the new management team includes skilled professionals in charge of the kimono rental business, marketing, product development, human resource strategy, and overall corporate affairs including M&A. We intend to further accelerate our growth by building the necessary teams internally to realize our mission and vision.
CEO
Sasaki Fumito
After working for Sompo Japan Insurance Inc., he joined the Boston Consulting Group. During his tenure, he was involved in new business development and sales reform projects, and contributed to the expansion of corporate sales and improvement of business efficiency. He left his job after getting married and founded Knot World Co., Ltd in 2014 after a year-long honeymoon around the world. He has been in his current position since 2023. He is a national certified interpreter guide and a general travel services manager.
[Remarks]
I believe that there is no better time to improve the productivity of Japan's tourism industry and to develop the Japanese economy than right now when inbound tourism is recovering at a rapid pace. At a time when unprecedented growth is necessary, we are excited to have a strong new management team and a well-funded structure in place.
There will also be a world Expo in Osaka in 2025. The entire Compass Corp. team will work diligently together to revitalize sustainable tourism.
Board Member, Head of Accommodation Management Business
Katsuaki Sawahata
He became a top salesman in the automobile insurance division of Mitsui Sumitomo Insurance Group, and then started his own insurance agency and began to support his clients' core businesses. In 2013, he participated in building a residential area as sales manager and contributed to its growth to 250 homes in five years. Since 2018, he has served as the President of AirTrip Stay Co., Ltd. and has been in his current position since 2023.
[Remarks]
We hope to create accommodations that will become the purpose of travel by utilizing the characteristics of the land and place in order to create somewhere that we ourselves would want to stay. We are committed to providing value to property owners, guests, and communities through our services.
Board Member, Head of Travel Business
Yu Kono
During his eight-year tenure at Dentsu Inc. in the Newspaper Department, he planned and implemented new projects and campaigns utilizing the assets of the newspaper company. After leaving the company, he traveled around the world for a year and then founded Knot World Co., Ltd. in 2014. He has been in his current position since 2023. He is a national certified interpreter guide and a general travel services manager.
[Remarks]
Now that COVID-19 is over, tourists have returned to Japan. The opportunity for tourism content in Japan is almost endless, and we plan to expand the content we offer beyond the tours we have provided up until this point. We will do our best to serve as a compass for guests so that they can enjoy their visit to Japan to the fullest, and contribute not only to the guests but also to the guides and the local communities that host them.
Head of Kimono Rental Business/Marketing Manager
Yoshihito Takakura
He has worked mainly in marketing at Shiseido, a cosmetics company, and Take and Give Needs, a bridal company. He then worked for DLE Inc., an entertainment company, where he served as head of operations, COO, and CEO of a subsidiary. He served as a company executive and head of sales and marketing at CBcloud, a logistics startup, and has been in his current position since December 2023.
[Remarks]
I have worked in a variety of different industries, but I was drawn to Compass Corp. because of its diverse businesses and personnel in the tourism and inbound sectors. We are trying to make sightseeing in a kimono an appealing part of tourism in Japan and aim to achieve sustainable business growth. We will also strive to establish a competitive advantage in drawing inbound customers through marketing activities not only in the kimono rental business but also in all of our other businesses, and establish ourselves as Compass Corp., the inbound company that can do everything from A to Z.
CTO
Takuma Morikawa
After working for a marketing research company, he joined Eureka, Inc. in 2014. Since then, he was involved in the development of the well known app Pairs, implementing the initial construction of the payment system and machine learning modeling of the search function, and helping out with the overall back-end functionality. In 2018 he became the Head of Development of Pairs, and then became their Chief Architect in 2020. He has been in his current position since December 2023.
[Remarks]
I joined Compass Corp. to help achieve the goal of becoming the biggest inbound tourist company in Japan. We believe that the inbound demand is not only the gateway to attract tourists to Japan's major tourist destinations, but also that there are amazing spots and experiences in every region of Japan. We will do our best as a team to support the whole country in making Japan the place to visit.
CHRO
Mari Kusuhashi
After working for a consulting company, she worked for Recruit and Persol Holdings, assisting in recruiting in the IT and Internet industries.
In 2017, she joined 17LIVE, the operating company of a live-streaming app from Taiwan, from the launch phase of its Japanese subsidiary. As HR Director, she oversaw organizational strategy, recruitment, and culture development among other things. She has been in her current position since October 2023.
[Remarks]
Through enriching tourist experiences in Japan, we hope that people from all over the world will learn to love Japan even more. I was drawn to Compass Corp. because of the mission of becoming a leading company in the tourism and inbound industries. Compass Corp. already has many members who are full of passion and enthusiasm for the tourism and inbound sectors. To achieve our mission, we will put everything into gathering prime new members and building a strong organization in order to further progress into the best team possible.
CFO
Takahisa Kuyama
At Goldman Sachs Japan, he was involved in M&A advisory and underwriting of funding in the investment banking division. From 2021, he worked in the investment division of Midas Capital where he was involved in sourcing deals, evaluating corporate value, DD, contract negotiations, and other investment considerations and support for investee companies. He has been in charge of the startup of Compass Corp. since December 2022, and has been in his current position since January 2024.
[Remarks]
I had the opportunity to join Compass Corp. from its initial phase, and through mergers and acquisitions, we were able to make a major transformation in one year. We have been able to meet wonderful colleagues in each of our businesses and in each of our areas of business, and our expectations for rapid growth in the years to come are high. The entire company is united and determined, and we will do our utmost to be a leading company in the tourism and inbound sectors by utilizing a variety of methods and approaches.
