Brave group’s purpose is to deliver exciting content and unseen experiences born in Japan to a worldwide audience yet to be unlocked, as embodied in our mission, “Strike wonder in 8 billion hearts”.
We operate as an international company with a strong focus on VTuber business with activities centered around the development of IP productions, platforms and solutions.
In this interview, we sat down with Keito Noguchi, CEO of Brave group, to reflect on the fiscal year ending September 2025 (8th fiscal year) and discuss the business strategy and themes for the fiscal year ending September 2026 (9th fiscal year). (Click here for the previous interview)
Keito Noguchi
CEO of Brave group Inc.
Keito Noguchi embarked on his entrepreneurial journey by founding Vapes, Inc. in 2011 while still pursuing his studies at Keio University.
In 2016, he orchestrated the transfer of the company over to Benesse Holdings, Inc. Following this, he has been engaged in the founding of over 50 startups as a business angel, showcasing his commitment to fostering innovation. In 2020, Keito Noguchi stepped into the position of CEO at Brave group Inc., a position he currently holds, leading the company with a clear vision and dedication.
8th Fiscal Year in Retrospect: Building a Leaner Core Through Difficult Decisions
── Looking back, how would you evaluate the 8th fiscal year slogan, “Reform”?
In the history of Brave group—especially since I took over the management—it was essential to first bring us from a negative state back to zero, and then build up towards a positive state. We maintained an aggressive stance, focusing on creating the core pillars of our business, recruiting the right talent, raising capital, and pursuing global expansion and M&A.
However, the 8th fiscal year marked the first time Brave group had to “crouch down” to prepare for the next leap. To target an IPO and establish a sustainable, profitable structure, we needed to transform the entire organization into a “leaner” entity through reviewing unprofitable businesses, implementing cost controls, and executing intra-group mergers.
It was a period of continuous, grueling decisions and corporate actions—establishing a new management structure for ENILIS, founding “Edutainment-Lab”, transferring part of our US operations to FTW Entertainment, and scaling down our EU business.
Thanks to those efforts, the 9th fiscal year is off to a smooth start. I truly believe this is the result of the reforms we implemented in the 8th fiscal year. I am incredibly proud of everyone; they really gave it their all.
9th Fiscal Year Slogan: “Unity” / Theme: “Endurance”
── I’d like to ask why you chose “Unity” as the slogan for the 9th fiscal year.
At first, I thought about “Endurance” because we are pushing for massive growth, which will undoubtedly be a tough journey. However, I believe a slogan should be inspiring. “Endurance” can carry a heavy, restrictive nuance that might discourage proactive teamwork. That’s why I kept “Endurance” as the internal theme but selected “Unity” as our slogan—to signify our collective drive toward the IPO.
── So we have “Unity” as the slogan and “Perseverance” as the theme. Specifically, what mindset or actions do you expect from each member of the team?
Well, what I’d really appreciate is for every member to start “thinking with Brave group as the subject”. Instead of focusing only on your own team, I want you to take a step back and ask yourself: “Is this action the right choice for Brave group as a whole?” or “How can I communicate across departments to make an impact?” While maintaining our aggressive stance, I hope everyone can move beyond connecting just “points” and start visualizing the “lines” that connect our future.
At the same time, I want to foster an environment where everyone—from the executive team to the middle and back offices—feels comfortable reaching out and sharing information. Whether it’s a progress report or a minor concern, I hope no one feels they have to shoulder the burden alone. I’d like everyone to make a conscious effort to communicate and consult with those around them, even for the smallest things.
Our management team is extremely cost-conscious. Since last year, we have maintained a relentless mindset of “maximizing revenue while minimizing expenses”. I truly want every member of the organization to embrace this same level of financial discipline.
── What you said earlier really aligns with one of our Values: “Transcending Limits”. So, it sounds like we are in a phase where it’s more important than ever to not just focus on individual roles within a team, but to think and act as a collective member of the Brave group?
Exactly. The synergy we’re building is best illustrated by our IP Production business. We aren’t just focusing on our already popular IPs; we’re working to elevate the entire portfolio. This initiative is being spearheaded by Ms. Kim (Executive Officer, VP of IP Production) and Mr. Sugeno (Director, ENILIS Inc.), under the leadership of Mr. Hoshi (Senior Director, CINO), and we are already seeing tangible results.
The pioneer of this approach was MadTown GTA (*). Since then, we’ve successfully executed cross-group projects, such as StelLive and VSPO! performing HIMEHINA’s “Aipai Dancehall” at their live events. Being able to implement these types of group-wide collaborations is incredibly rewarding.
In the IP Platform segment, we’re seeing deep collaboration between Virtual Entertainment and Game & Co. on VSPO! GEAR, as well as between Game & Co. and Smarprise on AMICIS. Our IP Solution segment is also experiencing increased inter-group cooperation, with Brave pictures and D1-Lab working together on several projects.
Furthermore, to enhance group-wide operational efficiency, we are developing an internal system within Geek Hive. This initiative is being driven by Mr. Funabashi (Senior Director, COO) and Mr. Okushi (Executive Officer, Chief Risk Officer), in close coordination with our back-office teams.
Moving forward, I am confident that these “Transcending Limits” initiatives will continue to flourish throughout the entire group.
── Regarding these group-wide cross-functional initiatives, what specific signs of success or positive impact are you seeing so far?
In MadTown GTA, we’ve seen a significant increase in subscriber numbers for the participating talent. I believe this is a direct result of capturing the interest of a broad audience.
Furthermore, while each team has its own strengths and weaknesses, I’ve noticed a surge in proactive communication and mutual support between teams that previously had little interaction. For instance, StelLive recently held its first group-wide event. It’s no exaggeration to say this was made possible by Mr. Nakamura (Executive Officer, CSCO), who led the Studio Department in the 3D modeling process. Similarly, Xross Stars, which saw explosive growth right from its launch, was the product of seamless collaboration between our IP Production (like VSPO! and Neo-Porte) and IP Platform segments.
As we continue to scale, I feel that the same sense of “Unity” we experienced during the business integrations with Virtual Entertainment and MateReal is truly being revived today.
── I see. So you’re feeling that same positive energy from our earlier days, but now within our current, much larger scale.
I feel that same sense of being “solid as one”, just like during that 2022 Kanda Myojin event where I was scrambling to collect 100-yen coins while Mr. Yamazaki (Executive Officer, Chief Accounting Officer) was busy working the cash register. We are back in that state where everyone is looking in the same direction, thinking: “Let’s unite and move forward together!”
From “Coexistence and Competition” to “Single Direction”
── In 2023, during the office relocation, Mr. Funabashi defined the office concept as “Coexistence and Competition”. Does this mean we have now evolved into a phase where the priority is group-wide collaboration?
Exactly. That was indeed a period defined by competition.
We had companies launching simultaneously across the globe, and it was a time when M&A activity was rapidly increasing.
Now, however, we are seeing the results of those growth investments starting to manifest. As a result, the “scenery”—our perspective on the business—has completely changed.
── Finally, could you share a closing message for our members and stakeholders?
Since its founding, Brave group has been in a state of rapid transformation, and we will continue to evolve significantly as a company. The whirlpool of change is only growing larger.
To our members—especially the younger generation—I want to say this: “The larger the whirlpool of change, the greater the opportunity for growth”. While we are currently in a period of “crouching down” to prepare, I don’t want anyone to lose that “on the offensive” spirit.
To sustain this drive, we will continue to welcome exceptional talent and appoint those who are eager to challenge themselves and grow.
And to our stakeholders, I invite you to look forward with great excitement to what the future holds for Brave group.
