Graduation from Serverworks Group and Future Plans
As disclosed in a timely manner at the end of last month, I will be retiring as a Director upon the expiration of my term at the Serverworks Co., Ltd. Annual General Meeting of Shareholders to be held on May 29, 2024.
I will also be stepping down as Representative Director of Topgate, Inc. on May 21, and will entrust the role of Representative Director of our investment subsidiary, SX Innovation Partners, to my successor, Mr. Okawa, effectively graduating from the entire Serverworks Group.
Since joining as the sole Business Development Manager in October 2013 and becoming a Director the following year, I have experienced more than I can put into words alongside the company's growth over the past decade. While I am sure there were many areas where I was inexperienced or fell short, I realize that I was only able to complete my term successfully thanks to the warm support and backing of all our stakeholders. I would like to express my heartfelt gratitude once again.
Looking back on these 10 years as I graduate, I personally feel as though I was involved as a screenwriter and director on the stage of Serverworks' 'second founding'.
When I joined, the company was a small, fragile business with only 20 employees, 500 million yen in sales, 17 million yen in ordinary profit, and 130 million yen in net assets, but it achieved a listing on the Tokyo Stock Exchange Mothers (Growth) market in 2019.
Since then, we have continued to take on various challenges to achieve sustainable growth, including the fastest-ever transition to the Prime Market, capital procurement through warrants, entry into the Google Cloud business through a JV with Bespin Global of South Korea, the acquisition of Topgate, the establishment of an investment subsidiary, and the establishment of a JV with FUJIFILM Business Innovation, among others.
With the tailwind of expanding cloud demand, thanks to everyone, the company has grown significantly to a scale that now generates over 400 consolidated employees, 10 billion yen in net assets, 27.5 billion yen in sales, and 1 billion yen in ordinary profit.
That said, if you ask me if everything went exactly as I had envisioned, there are many points for reflection and a mountain of issues remaining. Although I am leaving while some of the visions I had are still halfway to completion, I feel I have fulfilled my role in my own way, so I would like to draw a line at this 10-year milestone and entrust the future to those who follow.
I ask for your continued support for the Serverworks Group as it continues to grow under its new management structure.
As for my own future, while I will continue to help with businesses I have already been asked to support as an advisor or individual investor, I will take on the challenge of starting a business once again with the theme of 'fostering entrepreneurship.' If you are interested or are active in similar circles, please let's connect!
I will contact you again as soon as preparations are complete.
For a while after my retirement, I plan to idle, break down my solidified vision, perspective, and viewpoint to rebuild them, travel to various places, meet many people, and have many conversations. I have flexibility with my time, so please feel free to reach out.
Thank you for your continued support.
Hiroyuki Oshio