Business Transfer Announcement: Virtual Wall Inc. Acquires 'Real Estate Investment Crowdfunding Construction Service' from Relic Inc.
Virtual Wall Inc., operator of the real estate crowdfunding comparison media 'Gokuraku,' has agreed to acquire the industry-leading crowdfunding construction SaaS business from Relic Inc. on May 31, 2026. By integrating Relic's No.1 market share infrastructure with its own media platform, Virtual Wall aims to establish a dominant ecosystem in the rapidly growing real estate crowdfunding market. Relic will provide 7 months of PMI support for a smooth transition.
📋 Article Processing Timeline
- 📰 Published: May 18, 2026 at 20:10
- 🔍 Collected: May 18, 2026 at 11:31
- 🤖 AI Analyzed: May 18, 2026 at 11:54 (22 min after Collected)
Virtual Wall Inc. (Headquarters: Minato-ku, Tokyo; CEO: Kazunori Saito), operator of the real estate crowdfunding comparison media 'Gokuraku,' has reached an agreement to acquire the 'Real Estate Investment Crowdfunding Construction Service' business (hereafter 'the Business') from Relic Inc. (Headquarters: Shibuya-ku, Tokyo; CEO: Takaaki Kitajima), a business co-creation company. A business transfer agreement has been executed.
Virtual Wall will integrate the system assets of the Business into its own system for operators, 'Gokuraku Joto Powered by Gokuraku.' By combining the industry's largest fund comparison media 'Gokuraku' with the infrastructure of 'Gokuraku Joto,' Virtual Wall aims to promote the formation of an ecosystem that contributes to the development of the entire real estate crowdfunding industry.
### Background
According to the Ministry of Land, Infrastructure, Transport and Tourism, the annual investment in Japan's real estate crowdfunding market has surged approximately 139 times in just six years, from 1.27 billion yen in 2018 to 176.3 billion yen in 2024. The number of new projects also jumped from 26 to 875 during the same period. Market growth is expected to continue, driven by the ease of entry for individual investors and government support under the 'from savings to investment' policy.
The business provided by Relic boasts the No.1 market share in Japan for real estate investment crowdfunding construction SaaS. It covers all schemes of the Real Estate Specified Joint Enterprise Act (No. 1 to No. 4) and provides a full suite of functions required for operations, including eKYC, automatic contract issuance, and first-come/lottery-based recruitment.
Meanwhile, Virtual Wall has been operating 'Gokuraku,' a media platform with information on approximately 150 operators and over 4,000 funds, along with the 'Gokuraku Joto' system. Through this acquisition, Virtual Wall will become an industry platform provider with both media and system capabilities.
Relic will support a smooth business succession through approximately seven months of PMI support while continuing to provide value in the areas of new business development and co-creation.
### Overview of the Business Transfer
- **Target Business:** Real Estate Investment Crowdfunding Construction Service
- **Transferor:** Relic Inc.
- **Transferee:** Virtual Wall Inc.
- **Closing Date:** May 31, 2026
- **Post-Acquisition Plan:** Utilization as the system base for 'Gokuraku Joto Powered by Gokuraku'
- **Succession Support:** Approx. 7 months of PMI support by Relic
### Significance and Synergy
This acquisition is a strategic move for Virtual Wall to establish its position as a platform/ecosystem provider in the industry. Leveraging the dual operation of media and systems, Virtual Wall plans to launch new value-added initiatives, such as 'Gokuraku Point' integration, to enhance the experience for investors and engagement opportunities for operators. Several other media-integrated measures are also in the pipeline for release following the PMI period.
Virtual Wall will integrate the system assets of the Business into its own system for operators, 'Gokuraku Joto Powered by Gokuraku.' By combining the industry's largest fund comparison media 'Gokuraku' with the infrastructure of 'Gokuraku Joto,' Virtual Wall aims to promote the formation of an ecosystem that contributes to the development of the entire real estate crowdfunding industry.
### Background
According to the Ministry of Land, Infrastructure, Transport and Tourism, the annual investment in Japan's real estate crowdfunding market has surged approximately 139 times in just six years, from 1.27 billion yen in 2018 to 176.3 billion yen in 2024. The number of new projects also jumped from 26 to 875 during the same period. Market growth is expected to continue, driven by the ease of entry for individual investors and government support under the 'from savings to investment' policy.
The business provided by Relic boasts the No.1 market share in Japan for real estate investment crowdfunding construction SaaS. It covers all schemes of the Real Estate Specified Joint Enterprise Act (No. 1 to No. 4) and provides a full suite of functions required for operations, including eKYC, automatic contract issuance, and first-come/lottery-based recruitment.
Meanwhile, Virtual Wall has been operating 'Gokuraku,' a media platform with information on approximately 150 operators and over 4,000 funds, along with the 'Gokuraku Joto' system. Through this acquisition, Virtual Wall will become an industry platform provider with both media and system capabilities.
Relic will support a smooth business succession through approximately seven months of PMI support while continuing to provide value in the areas of new business development and co-creation.
### Overview of the Business Transfer
- **Target Business:** Real Estate Investment Crowdfunding Construction Service
- **Transferor:** Relic Inc.
- **Transferee:** Virtual Wall Inc.
- **Closing Date:** May 31, 2026
- **Post-Acquisition Plan:** Utilization as the system base for 'Gokuraku Joto Powered by Gokuraku'
- **Succession Support:** Approx. 7 months of PMI support by Relic
### Significance and Synergy
This acquisition is a strategic move for Virtual Wall to establish its position as a platform/ecosystem provider in the industry. Leveraging the dual operation of media and systems, Virtual Wall plans to launch new value-added initiatives, such as 'Gokuraku Point' integration, to enhance the experience for investors and engagement opportunities for operators. Several other media-integrated measures are also in the pipeline for release following the PMI period.
FAQ
Where is Virtual Wall headquartered?
It is located in Minato-ku, Tokyo, Japan.
How will Relic be involved after the transfer?
Relic will provide PMI (Post-Merger Integration) support for approximately 7 months to ensure a smooth transition.
What is the growth trend of Japan's real estate crowdfunding market?
The annual investment amount grew approximately 139-fold over the 6 years from 2018 to 2024, with continued growth expected due to government support.