Growing Need for Digital Signatures Gives Japan Firm a 22-Fold Return
- Stay-at-home measures forcing businesses to embrace technology
- Digital-signature firm at record highs on boost in business
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The coronavirus pandemic is yanking corporate Japan into the 21st century, forcing businesses to embrace digital signatures and boosting the shares of Bengo4.com Inc., one of the few local providers of the service.
Shares of the 240-person firm, whose name is a Japanese play on “lawyers-dot-com,” hit a record on Wednesday, giving the Tokyo-based company a market valuation of about 191 billion yen ($1.77 billion), a 22-fold gain from its 2014 public debut. Revenue for its cloud-based signing service is set to double this year, fueling growth, president Yosuke Uchida said.