Compass Corp. (Headquarters: Chuo-ku, Tokyo, CEO: Fumito Sasaki, hereinafter referred to as the "Company"), which operates business in various fields in the inbound tourism field, has issued new shares of approximately 280 million yen through a third-party allotment to a fund managed by its largest shareholder, Midas Capital (Headquarters: Minato, Tokyo, CEO: Hideki Yoshimura, hereinafter referred to as "Midas Capital") and Oriental Land Innovations Co., Ltd. (CEO: Rikiya Toyofuku, hereinafter referred to as "Oriental Land Innovations").
Founded in December 2022, our company has been developing its business in many fields, including lodging management, travel, kimono rental, and regional production, under the mission and vision of “leading tourism in Japan and connecting culture to the next generation.” We aim to be a company that can meet the diverse needs of tourists, especially inbound visitors, by synergizing with the wonderful culture and content that Japan has to offer.
We are actively working to expand services in each of our businesses, including the launch of a hybrid operation of private accommodations and monthly rentals in the Accommodation Management Business, the opening of a sushi nigiri workshop experience facility in Tsukiji in the Travel Business, and the expansion of the Kyoto Tower Sando Store in front of Kyoto Station in the Kimono Rental Business. Recruitment has been strengthened alongside the expansion of services, and the number of employees now exceeds 200.
Taking into account the increase in demand due to the recovery of the tourism and inbound markets, we raised funds in order to expand our services with greater speed than ever before. In addition to Midas Capital, our largest existing shareholder, Oriental Land Innovations, a member of Oriental Land Co., Ltd., which operates in a wide range of fields including theme parks and hotels, will provide new capital to further improve guest satisfaction and create new businesses. We hope to further improve guest satisfaction and create new businesses through this new investment.
The funds raised through this financing will be invested in equipment, software, recruitment, and M&A to expand services and further accelerate growth.
The main uses of the funds raised this time are as follows:
We aim to provide more services to more guests through both increasing the number of stores for our kimono rental brand, Wargo, as well as developing applications for our travel business.
We will hire new employees for each business to match the increase in the number of guests. Simultaneously, we will hire new employees for product development, marketing, human resources, corporate, as well as other divisions.
We will launch new businesses and engage in M&A to expand existing businesses and service lineups.
Rikiya Toyofuku, President and Representative Director, Oriental Land Innovations
We are very pleased to have this opportunity to invest in Compass Corp. We recognize that despite the tourism field is looking towards considerable growth, including the tailwind of inbound tourism, there are not necessarily many business entities that have consolidated such a variety of services to aim at the opportunities of synergizing. We are attracted to the company's efforts to explore ways to increase corporate value through aggressive M&A in the tourism field, and have decided to invest in the company. I also felt the strength of the management team, including their CEO, Mr. Sasaki, who has experience. We sincerely appreciate the opportunity to grow together.
Fumito Sasaki, CEO Compass Corp.
We are excited to welcome Oriental Land Innovations as a new shareholder in addition to the Midas Capital investments; both encourage us greatly.
Inbound tourism has been booming this year, considerably more so than 2019. We believe that in order to ensure the Nation’s tourism opportunities remain sustainable, it will be essential to improve profitability by providing a one-stop shop for high-quality services for guests.
To move forward with this opportunity effectively, we will continue to deepen and expand our services to achieve our goal of “leading tourism in Japan and connecting culture to the next generation” while exploring future business collaboration.
Oriental Land Innovations is a corporate venture capital firm that invests in companies to create prospering businesses. By combining the innovative technologies and ideas of venture companies with the resources of Oriental Land Co., Ltd., Oriental Land Innovations will engage in business creation activities that contribute to solving social issues to help create a society of “Dreams, Inspiration, Joy, and Comfort”, the corporate philosophy of Oriental Land Co. Ltd., which will also create businesses that contribute to creating a society with those characteristics.
Company name: Oriental Land Innovations Co., Ltd.
CEO: Rikiya Toyofuku
Address: 1-8-1 Mihama, Urayasu City, Chiba Prefecture 279-8516
Business content: Investment and support activities for venture companies, etc., promotion of collaboration with Oriental Land Group
HP：https://www.oli.olc.co.jp/
