FormX Secures ¥130 Million Seed Funding Alongside Cloud Disclosure Software Launch

FormX Inc. has officially launched its new cloud disclosure software, "FormX," for listed and pre-listed companies, simultaneously announcing it has secured ¥130 million (approximately $870,000 USD) in seed funding. The funding round was led by Genesia Ventures, with additional participation from Chiba Dojo Fund and several individual investors, bolstering the company's mission to revolutionize corporate disclosure.The "FormX" platform, unveiled by Tomonori Tokita, founder and CEO, operates with the concept of "New gear for disclosure." It aims to streamline the entire disclosure process by unifying document creation, XBRL tagging, translation, and submission. This comprehensive solution directly addresses the operational complexities faced by accounting and IR personnel in Japan.Founded in 2023 by certified public accountant Tomonori Tokita, who experienced firsthand the challenges in the disclosure domain, FormX leverages AI technology within its platform. The software features AI-driven draft generation and automatic translation functions, alongside a specialized editor supporting XBRL, which is mandatory for filings via Japan's EDINET system.The seed funding will be strategically deployed to recruit engineers, further enhance the disclosure platform, strengthen its security infrastructure, and expand partnerships with design partners. This investment underscores confidence in FormX's ability to tackle the high operational burden associated with evolving disclosure requirements, including lease accounting, sustainability, human capital, and English disclosures.FormX Inc. believes that the standardization of text data in disclosure documents makes it an ideal domain for AI application. "It unifies everything from disclosure document creation to XBRL, translation, and submission, streamlining corporate disclosure operations," Tomonori Tokita stated in the announcement, emphasizing the platform's potential to significantly improve efficiency and accuracy in corporate reporting.