KUALA LUMPUR (April 15): Japanese corporate software firm Cybozu is stepping up investments in Malaysia and Thailand for growth beyond its home market, Nikkei Asia reported on Wednesday.

Cybozu has committed at least US$6.4 million (RM25.3 million) to Malaysia that served as its regional headquarters since the company entered the market in 2022, chief executive officer Yoshihisa Aono was cited as saying by the Japanese news publication. Cybozu is targeting 500 clients in Malaysia by 2028, the report said.

"We have been gradually building traction through small-scale marketing efforts, and now we are ready to speed up our business," Aono was quoted as saying. The firm is also eyeing 1,000 clients in Thailand by 2030.

Cybozu’s key product is Kintone, a cloud service that allows users to build, manage, and share business apps which the company bets will be well received in Southeast Asia dominated by smaller companies with limited financial or engineering resources.

Small and medium enterprises, or SMEs, are the backbone of the Malaysian economy, contributing more than one-third to the gross domestic product and providing bulk of the employment.

“Many companies here are SMEs, which allows us to fully leverage our strengths," he was quoted as saying by Nikkei Asia. Cybozu is also considering a future entry into Indonesia, the region's largest economy, he added.