SFIDA X is a small Japanese IT services company operating three businesses: a web development and subscription services business targeting SMEs, an IT staffing business serving large enterprises, and an IT consulting business focused on digital transformation. The company's WebDX Consulting segment builds corporate, recruitment, and e-commerce websites for SMEs with 10 or fewer employees, then upsells them on monthly subscription services — including a cloud content management system, reservation management tools, and AI-powered content tools — at roughly ¥10,000 per month per customer. Gross margins on these subscriptions run approximately 90%, making this the highest-margin part of the business. The System Integration segment, operated through subsidiary Style Free, deploys engineers to large enterprise clients on multi-month to multi-year engagements, billing clients based on the number and seniority of engineers deployed. This is the largest segment at roughly 61% of revenue. The IT Consulting segment, operated through Berkeley Consulting, provides high-level IT strategy and project management advisory to large corporations and accounts for roughly 5% of revenue. The company's stated strategy is to shift its mix toward larger enterprise clients through System Integration and IT Consulting, while continuing to grow the recurring WebDX subscription base. The vast majority of IPO proceeds are earmarked for recruiting engineers and consultants, as headcount is the primary driver of growth across all three segments. SFIDA X is conducting a Nasdaq IPO via ADS offering.