FormX Raises 130 Million Yen in Seed Round Led by Genesia Ventures
FormX has completed a seed round funding of 130 million yen in total. The lead investor is Genesia Ventures, with additional participation from Chiba Dojo Fund and multiple CFO angel investors. This funding will accelerate the development of its "Disclosure Platform" and strengthen its organizational foundation.
About FormX
FormX operates under the mission "New gears for disclosure" and develops a new disclosure platform for accounting and IR personnel.
Representative Tokita founded the company in 2023 to solve disclosure-related challenges he experienced at listed companies, IPO preparation companies, and audit firms. Currently, FormX is conducting proof of concepts with six listed companies and three unlisted companies. Leveraging FormX's extensive knowledge in the disclosure field, the startup provides "usable products" from a field-oriented perspective.
What is Disclosure?
Disclosure refers to companies appropriately disclosing their business conditions and financial information to stakeholders such as investors and shareholders. In Japan, this includes securities reports, financial summaries, and timely disclosure documents, which are published through the Financial Services Agency (EDINET) and Tokyo Stock Exchange (TDnet). Disclosure is not merely a legal obligation but an important mechanism to enhance corporate transparency and build trust in capital markets.
Product Development Background
Japan's disclosure system has many overlapping disclosure requirements compared to other countries, and recent developments such as lease accounting standard revisions, sustainability disclosure, human capital disclosure, and English disclosure requirements have created high operational burdens. The disclosure field and AI have excellent compatibility, as disclosure documents are primarily structured text data, which is AI's forte. However, efficiency improvements have been limited due to the mandatory requirement for XBRL compliance.
FormX is developing a disclosure-dedicated editor from scratch to enable XBRL document submission while utilizing AI. FormX plans to enable XBRL document submission from October 2025. To further accelerate disclosure efficiency, FormX will use the newly raised funds to speed up development.
What is XBRL?
XBRL is a computer language internationally standardized by XBRL International, suitable for electronic disclosure to facilitate the creation, distribution, and utilization of various financial reporting information including financial summaries.
Product Features (Partial List)
- Creation and submission of securities reports, financial summaries, and other documents (XBRL document submission to EDINET and TDnet)
- AI-powered Japanese draft generation for disclosure documents
- AI-powered automatic translation of disclosure documents
Professional Services
- Financial settlement support (quarterly/year-end, standalone/consolidated/disclosure/subsidiary management)
- Creation of Part I documents and various explanatory materials for IPO preparation
- Financial settlement acceleration support
- English disclosure support
- Creation of timely disclosure documents (including extraordinary reports)
Norbert Gehrke
