Company Name: Midokura Japan Inc.
Locations: Tokyo (Japan), Spain, Switzerland
Industry: Technology
Company Size: 70 employees worldwide
Odoo Users: 15
Hosting Type: Odoo On-Premise
Implementation Partner: Portcities Japan
Implemented Apps: Accounting
Implementation Duration: 5 months
For global startups like ours, Odoo is a cost-effective system that enables seamless global accounting operations."
Midokura Japan, a global startup founded in Japan in 2010, became part of the Sony Group in 2019. Now a wholly owned subsidiary of Sony Semiconductor Solutions, Midokura develops the Edge AI sensing platform “AITRIOS.”
Today, Midokura has offices in Tokyo, Barcelona, and Lausanne with over 70 employees.
"Odoo: 'A Highly Cost-Effective ERP'"
Midokura Japan previously used a complex and expensive ERP system. This system's operational costs had been rising year by year, and the company had to use multiple systems for accounting and HR tasks, resulting in significant time and effort spent on data migration and information sharing, which hindered efficiency and kept costs high.
Therefore, Junichi Fujioka, the person responsible for implementing the new ERP system, listed out the following key conditions when selecting a new system:
- Cloud-based platform
- Multi-currency support
- Cost-effectiveness
- Ease of use
- Post-implementation support
Odoo met all of these requirements and offered the added benefit of integrating all operations into one platform, making it the system of choice. After a five-month customization period, Odoo was successfully implemented.
Fujioka describes Odoo as “a cost-effective ERP.” With its implementation, Midokura Japan achieved seamless global accounting operations, reduced operational costs, and significantly improved overall efficiency.
Supporting Accounting Operations Across Three Global Locations
With Odoo’s "Multi-Company" and "Multi-Currency" Settings
Midokura Japan operates in three locations in Tokyo, Barcelona, and Lausanne, each of which handles accounting operations and requires monthly financial closing and tax filings. Much of the work is outsourced to external accounting firms, especially at the overseas locations. As there is no dedicated accounting staff, Fujioka directly manages the overseas accounting firms.
Due to varying tax laws and regulations in different countries, Midokura needed its system to simultaneously manage accounting information for each country. Odoo’s "Multi-Company" configuration fulfills this need.
Odoo’s multi-company feature allows the management of multiple companies within a single database, enabling the sharing of specific data between companies while maintaining full functionality for each entity. And this feature makes Odoo an optimal solution for the company.
Additionally, Odoo’s 'Multi-Currency' feature contributes to the smooth and efficient management of transactions in multiple currencies.
Odoo’s Accounting System for Global Business
For companies expanding globally, it is critical that their accounting system can be uniformly used across all locations and that rapid support is available.
With Odoo, Midokura Japan was able to standardize operations on the same system and use the same accounts, enabling real-time access to accounting information worldwide. The company also found it easy to establish a consolidated accounting structure and create consolidated financial statements.
For monthly financial closings, the company holds online meetings with the accounting firm in Spain, checks data in real-time via Odoo, makes necessary adjustments on the spot, and immediately verifies the results.
Furthermore, Odoo’s global user base ensures that support is easily accessible, including comprehensive assistance in regions such as Europe. Fujioka has expressed his satisfaction with Odoo, noting that switching to Odoo has ensured adequate support across all regions, including Europe.
Reducing Costs and Enhancing the Competitiveness of Global Enterprises with Odoo
For companies expanding globally or planning to do so, establishing efficient accounting operations that support overseas locations is crucial.
In Midokura Japan’s case, implementing Odoo reduced ERP operational costs while improving the efficiency of global accounting tasks.
Fujioka says, “I believe Odoo is a highly cost-effective system for global venture companies like Midokura Japan, enabling global accounting operations.”
Midokura Japan Achieves Cost-Saving and Seamless Global Accounting Operations with Odoo