#Progmat #Security Token #TMI

Introduction

In a groundbreaking partnership, Progmat, Inc. and TMI Law Firm have announced a new initiative aimed at supporting real estate businesses looking to enter the realm of digital securities, specifically Security Tokens (ST). This collaboration promises a comprehensive solution, delivering essential legal and operational support—from licensing to system development—all under one roof.

Background of the Collaboration

The digital securities landscape is rapidly growing, with forecasts suggesting that the market for ST may reach over 583.1 billion yen by 2025, and over 1 trillion yen by 2026. Notably, real estate-backed STs are expected to dominate this emerging market, accounting for more than 80% of the total ST projects.

Currently, 13 real estate firms have stepped into the digital security space, with nearly 40% being newcomers entering the market by 2025. This shift reflects a significant diversification in sales channels, moving away from a focus on traditional major brokerage firms to an increase in independent operators who manage their own sales.

The industry has faced challenges recently, particularly with several incidents occurring within the real estate crowdfunding sector in 2025. In response to such issues, industry groups are actively working on voluntary regulation frameworks. Notably, new legal regulations announced in the late 2025 outline changes to how real estate assets are assessed for inheritance tax. This poses additional challenges for businesses focused on fractional real estate products, necessitating strategic adjustments in light of the regulatory environment.

With Progmat's extensive experience stemming from its inception of Japan's first real estate ST project in 2021, along with TMI's robust legal support for real estate businesses, both entities are poised to provide significant assistance to newcomers in the digital securities market.

Overview of the ST Business Entry Support Solution

The ST Business Entry Support Solution leverages the specialized knowledge of both Progmat and TMI, creating an inter-company project team that offers extensive services. This structure allows for a seamless flow of communication and collaboration between the two firms, ensuring clients receive holistic support tailored to their specific needs.

Potential clients will begin by discussing their needs, followed by a mutual agreement on information sharing. The initial consultation, which includes strategic planning, scheme comparisons, partner selections, and licensing advice, is offered at no cost. Once clients are ready to move forward, Progmat and TMI provide hands-on consulting services, encompassing project management for the issuance of real estate STs, as well as business and system construction support—potentially including Software as a Service (SaaS) offerings.

Comments from Company Leaders

Taichi Saito, Founder and CEO of Progmat, remarked,
“Greetings to real estate businesses we haven't had the chance to meet directly yet. I’m Taichi Saito, representing Progmat. Prior to establishing our company, I gathered experiences in real estate and corporate sectors within a trust bank and was involved in the practical understanding of securitization laws. The ST market is expected to expand further, but entering this field requires strategic thought because of the regulatory frameworks in play. Through our partnership with TMI's esteemed team, we look forward to solving these challenges together.