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J-Startup and Beyond
An honest scorecard on Japan's five-year plan to build 100 unicorns — what's working, what's not, and why it matters for global partners
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An honest scorecard on Japan's five-year plan to build 100 unicorns — what's working, what's not, and why it matters for global partners
In the US, 90% of startup exits are acquisitions. In Japan, 76% are IPOs — most of them tiny. The exit ecosystem is finally being forced to change.
Japan is the world's fourth-largest economy but has fewer than 15 unicorns. The structural reasons run deep — but the forces of change are finally gaining momentum.
Japan has only 15 unicorn startups despite being the worlds third-largest economy. This definitive guide covers every Japanese unicorn, their valuations, why the gap exists, and the soonicorns poised to break through. Updated for 2026.