The macroeconomic shifts of the past three years have fundamentally rewritten the playbook for late-stage startups. In a candid panel discussion at IVS2026, startup CFOs and a crossover investor pulled back the curtain on the intense, often painful, decisions required to navigate today’s capital markets. The panel was moderated by Hirohiro Maekawa, Representative Director and Chief Contents Director of Funds Startups, and featured: Satoshi Yamada, CFO of 10X, Inc., a retail-t

Japan’s startup-finance market is broadening beyond traditional venture equity, but significant gaps remain between late-stage private funding, IPOs, and sustained growth as a listed company. At the IVS2026 panel, "Rethinking the New Standard of Startup Finance," industry pioneers representing commercial banking, private placements, corporate investment, and public asset management convened to dissect the structural issues hindering Japan's startup ecosystem and map out a mor

In the traditional narrative of Japanese industry, the "chasm" between agile startups and massive conglomerates was once viewed as a cultural divide bridged primarily by financial transactions. However, as Japan faces accelerating demographic shifts and global competitive pressures, this chasm has evolved into the most significant hurdle—and opportunity—for national innovation. At the IVS2026 panel, Ms. Yuko Takeda of KDDI framed the stakes with clinical precision: Does partn