13th Anniversary – Evolving Journey

1) 12 Years of Foundation
・December 6 marks our company’s founding anniversary, completing 13 full years.
We are grateful for everyone’s warm support.
As summarized below, this year continued to challenge us with trials in our immediate, near, and future business.

2) Persisting Shortage of Parts

<Today’s Business Challenges>
While large corporations are easing their parts supply and performing well, small tech ventures like us still face unresolved supply chain issues, continuing our trials.
We experienced tough times in hardware business due to extended delivery times and sudden discontinuation of parts we use in our current products.

Faced with parts discontinuation, we started developing products with new parts, only to learn that these too would soon cease production. The latter half of this year was spent strategizing on how to conduct business next year despite having firm orders.
A silver lining has been our realization of the importance of not relying on others for parts sourcing, constantly checking global channels, and rigorously comparing Quality, Cost, and Delivery (QCD).

3) New Challenges

<Challenges for the future>
The June press release on our development of “ultra-thin film for vein authentication” led to numerous inquiries and approaches for concrete productization from several companies.
However, our ultimate goal is not just productizing this film sensor but to establish a new business model using this “killer technology”.
Our experience in the past two years, particularly the struggle with part shortages, has reinforced our strategy to shift towards a business model that ensures continuous sales and profits.
Specifically, we plan to aggressively pursue sales strategies like licensing to customers who will create and spread innovative products using our film sensors, and subscriptions from end-users in a BtoC model. In a world where unforeseen business realms like the Metaverse or AI innovations like ChatGPT emerge, our unmatched technology for identity verification remains vitally important, and we aim to promote it worldwide with agility and flexibility.

In Conclusion, this year swiftly transitioned from a scorching summer to a brief autumn and then winter.
As influenza is also spreading, please take care of your health.

We are immensely grateful for your support this year.
Wishing you a wonderful new year.


Finger Vein Recognition Technology "mofiria"