(Headquarters: Chiyoda-ku, Tokyo; President and CEO: Osamu Hata; hereafter "WAP") has announced that it has been selected by Kitamura Camera no Kitamura K.K. (Headquarters: Shinjuku-ku, Tokyo; President and CEO: Tomohiko Yamazaki) and its business support company, Kitamura Co. (Head Office: Shinjuku-ku, Tokyo; President and CEO: Kei Yanagisawa; hereinafter referred to as "Kitamura") have decided to implement WAP's fixed asset management system, HUE Asset. HUE Asset was introduced to reduce the workload associated with the application of new lease accounting standards. The one-stop linkage from property management information input to accounting processing will realize significant operational efficiency.

Background of Adoption: Seeking a system that connects the field and accounting.

　Kitamura manages a large number of stores, including "Kitamura Camera" and "Studio Mario," etc. Under the new lease accounting standards to be applied from fiscal 2027, it will be required to record real estate lease contracts on-balance, but the company's current system for managing real estate lease contracts was not compatible with the new standards. In addition, the contract management staff needed to share contract information with the lease accounting staff on a case-by-case basis, which was causing concerns about the complexity of information management.
　In addition, the company had to deal with the large number of fixed assets and lease accounting processes that arise due to the large number of stores, and the company considered revamping its entire fixed asset management system along with its real estate lease contract management. The company decided to implement HUE Asset as its next system.
　HUE Asset is equipped with real estate management functions, and information entered by contract management staff is automatically linked to lease accounting staff, significantly reducing the time and effort required for information sharing. In addition, HUE Asset provides a one-stop service from information input to lease accounting processing that complies with the new lease accounting standards. In addition to its high operability, HUE Asset was highly evaluated for its ability to handle the company's operations within the scope of its standard functions.

Expected Effects: To comply with the new lease accounting standards and to improve operational efficiency.

　Under the concept of "free version upgrade," HUE Asset is continuously enhanced while responding to tax system revisions, etc., and user companies can use the latest functions as standard features without paying additional usage fees. The new lease accounting standards and IFRS 16, the basis for those standards, are already included as standard features.
　With the introduction of HUE Asset, in addition to fixed asset management, Kitamura expects to significantly improve operational efficiency by automating a wide range of peripheral tasks, such as the processing of large volumes of properties unique to the multi-store format, the settlement of construction in progress accounts, and the determination, recognition, and measurement of impairment indicators.

＜Mr. Osamu Suzuki, General Manager of the Accounting and Finance Department of Kitamura Co.
　We had a problem with our current system in dealing with the new lease accounting standards, and we decided to implement HUE Asset after experiencing its ease of use through a demonstration and learning that the new standards and IFRS 16 can be handled with its standard functions. We expect to make maximum use of HUE Asset's functions to further accelerate our business efficiency.

About HUE

　HUE is a domestically produced ERP developed for Japan's leading companies and continues to grow with customer feedback to meet a wide range of business requirements across industries and business categories. Over 2,200 companies have used Sotetsu HD's system, which has been adopted by Sotetsu HD.

The 97%* fit rate is based on our own standards.

　The HUE product page is available at HERE
　The HUE Asset fixed asset management system that Kitamura has selected for this project can be viewed at HERE

About Works Applications

　Works Applications was founded in 1996 as an ERP package vendor in Japan. With innovative solutions such as no-customization and free version upgrades, we have been supporting the growth of our customers, mainly major Japanese companies. Believing in the potential of each individual, we aim to be a "growth engine" that maximizes the value of companies and individuals, and we will continue our pursuit of turning "work" into "creation" and making "work" fun.

*Company names, product names and service names are trademarks or registered trademarks of their respective companies.
*The information in this release is current as of the date of publication, and is subject to change or withdrawal without notice. Please be aware that the information in this release regarding forecasts and future prospects is uncertain and may differ from actual results.