Early Cross and Money Forward Home Forge Strategic Partnership to Enhance Financial Wellbeing

Strategic Partnership Between Early Cross and Money Forward Home

Recently, Early Cross Co., Ltd. announced a strategic partnership with Money Forward Home, Inc. This collaboration aims to leverage Early Cross's expertise in corporate defined contribution pensions (DC) and Money Forward Home's asset visualization service, 'Money Forward ME', to support financial wellbeing and asset formation for workers.

Background of the Partnership

The number of participants in corporate DC pensions is surging, reaching 8.3 million nationwide. However, to join such a scheme, businesses must implement it, which necessitates being a certified employee pension business. In Japan, there are roughly 2.83 million eligible companies, the vast majority of which (about 98% or 2.78 million) are small and medium-sized enterprises (SMEs) with fewer than 100 employees. Yet, only around 52,000 of these businesses (approximately 1.8%) have adopted corporate DC programs, indicating a significant gap in adoption compared to the overall number of SMEs. This suggests substantial potential for further corporate DC implementations, particularly among smaller firms.

Moreover, a survey by the NPO Defined Contribution Pension Education Association revealed that 63.3% of personnel responsible for managing pension systems cited issues such as 'the need for ongoing education', 'lack of interest from participants', and 'concerns regarding members' asset management awareness' as challenges.

Additionally, participants often face hurdles such as needing separate logins to monitor their savings progress. The Ministry of Health, Labour and Welfare has highlighted the need for greater visibility in corporate DC schemes.

At Early Cross, we focus on supporting the implementation of corporate DC pensions primarily for SMEs, providing optimal system designs tailored to each company along with ongoing investment education and service assistance—all in a one-stop solution. We are committed to helping employees achieve financial stability and a more fulfilling life by supporting their asset formation journey.

On the other hand, Money Forward Home offers services that tackle individual financial issues. Their asset visualization service, 'Money Forward ME', has amassed over 17 million users, integrating financial services like banks and securities accounts to provide a comprehensive view of users’ financial flows. The service can also sync with corporate DC pensions, automatically generating graphics of contribution statuses, allowing users to analyze their financial situations effortlessly.

Through this partnership, both companies aim to combine Early Cross's support for corporate pension setups and the asset visualization capabilities of 'Money Forward ME' to facilitate workers' asset formation, ultimately freeing them from financial worries and achieving 'financial wellbeing'.

Future Initiatives

As part of the efforts to implement corporate DC pensions, Early Cross plans to offer employees coupons for the premium service of 'Money Forward ME' Standard Course (annual plan) to facilitate smoother management of their future asset formation.

Comments from the Companies’ Representatives

Masaya Hanashiro, President & CEO of Early Cross

"We are deeply honored to announce our partnership with the Money Forward Group. Early Cross has always recognized the synergy between corporate DC and household management, and we have long wished to collaborate with 'Money Forward ME'. We are excited to make this partnership official. Since discovering cloud accounting in 2014, we have worked towards promoting its adoption via DX support. Now, with corporate DC being a new focus, the opportunity to collaborate again feels serendipitous. Corporate DC is an evolving system. For employees to engage with their financial matters, visualization is essential. We aim to work together to establish this framework as an infrastructure in Japan."

Naoya Kanasaka, President & CEO of Money Forward Home

"I am thrilled to announce our partnership with Early Cross, led by Mr. Hanashiro, a long-trusted business partner of the Money Forward Group. For years, I have pondered why such a beneficial corporate DC system has not been more widely adopted. Mr. Hanashiro's book on corporate DC has been one I wholeheartedly encourage others to read. I am inspired by his dedication to this field. Strengthening the synergy between corporate DC and 'Money Forward ME' is the driving force behind this collaboration. The Money Forward Group will fully support Early Cross’s growth journey."

About Early Cross

Early Cross focuses on addressing societal challenges with its dedication to supporting corporate DC implementations and promoting financial education for SMEs. We do not merely aim to install systems but also walk alongside employees, empowering them to manage their future finances proactively.

For more information visit: Early Cross Services

About Money Forward ME

'Money Forward ME' is an easy-to-use asset visualization service that automatically consolidates accounts from banks, securities firms, and credit cards, enabling users to manage their finances effectively for peace of mind.

For more information visit: Money Forward ME

Company Overview

Early Cross Co., Ltd.

- Headquarters: Fukuoka, Japan
- CEO: Masaya Hanashiro
- Established: December 2016
- Business: Corporate DC pension implementation support
- Website: Early Cross

Money Forward Inc.

- Headquarters: Tokyo, Japan
- CEO: Yosuke Tsuji
- Established: May 2012
- Business: Platform services
- Website: Money Forward

Money Forward Home, Inc.

- Headquarters: Tokyo, Japan
- CEO: Naoya Kanasaka
- Established: August 2024
- Business: Development and provision of personal user services including PFM
- Website: Money Forward Home