M&A BASE

M&A BASE sources primarily through the parent group Excite Holdings' internet ecosystem and the professional networks of its leadership. Naohiro Kojima's sell-side M&A intermediary background gives the firm access to succession-mandate IT businesses, while Shinichi Saijo's deep venture capital relationships from WiL and XTech provide buy-side connectivity. The firm's search fund arm also actively originates proprietary deals by identifying owner-operated IT businesses without heirs.

Both. The advisory business runs sell-side and buy-side M&A mandates for IT companies on a success-fee basis. The search fund business uses the firm’s own capital to acquire and operate small-to-medium IT enterprises, particularly those facing succession challenges. The search fund arm functions as a holding company, combining deal sourcing with direct operational control.

M&A BASE is a subsidiary of Excite Holdings, a Tokyo Stock Exchange-listed internet group taken private in 2018 by Shinichi Saijo's XTech and later re-listed on the Standard Market. Excite Holdings' CFO Masaya Ishii serves as a director of M&A BASE, and founder Saijo is the group CEO, embedding the firm within a publicly traded corporate structure unusual for Japanese M&A intermediaries.

No. M&A BASE has not publicly disclosed assets under management, committed capital, or total deployment figures. Its advisory business is transaction-driven, while the search fund arm operates with on-balance-sheet capital from the parent group, making standard AUM reporting not applicable.

M&A BASE is IT-industry specialized, targeting internet services across curated and portal media, SaaS, e-commerce and D2C brands, software development, staffing and SES, IT advertising agencies, and consulting firms. The firm operates exclusively in this sector, citing an 'IT industry strong network' as a core differentiator.

M&A BASE operates on a fully success-fee basis with no retainer or upfront fees, per the firm's website. The model is designed to lower barriers for owner-operators exploring sale or succession options. Basic enterprise valuation assessments are also offered at no cost.

Representative Director Naohiro Kojima leads the firm's M&A advisory and search fund investment decisions, drawing on experience from SMBC Nikko Securities and a major Japanese M&A intermediary. Founder Shinichi Saijo provides strategic oversight as the architect of the Excite Holdings group, while Director Masaya Ishii manages financial governance through his dual role as parent CFO.