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Our Management Support Model

From ICMG’s inception in the year 2000, assisting our clients in real life problem solving has been the cornerstone of our management support model. The problem-solving model of ICMG starts with envisioning the desired outcome and future, building strategy based on the potential of our client, identifying and training the leaders who will put the strategy into practice, assist in building partnerships and/or setting up necessary M&A’s to make the strategy into an attainable reality, and assist in management reform, corporate restructuring, and new business creation in order to bring about sustainable growth. This model, which is based on 18 years of experience, learning, and practice, is known as the “ICMG sustainability model”.

The Starting Point

From the inception of ICMG, the big question that was at the heart of our foundation was straightforward. “What is the best support that can be given to the entrepreneurs that are responsible for the next generation?”. Trying to find the answer to that question has been the drive of ICMG through all of our projects, and through this question, we have learned that the “best support” one can give is by focusing on identifying the potential and the hidden strengths in corporations, strengthening those strengths that lead to change, and by supporting management through reform. The key though, is change and reform only produce results if they go hand in hand with the development of the key people who are trying to break the mold, and allowing them to challenge the status quo.

The Basis of Management Support

The value of our management support does not just come from the model it is based on.
We believe that it is our clients and partners see value in our support through what we strive to accomplish in each and every project. It is our desire and commitment to identify the strengths, values, visions, and off-balance sheet potential (= Intellectual Capital) that have always been in the background of a corporation but had just not received the spotlight, take those values and strengths and use them as agents of change to move business forward, assist in the awakening of each and every employee to become leaders of positive change, each with a sense of ownership, and a desire to become part of the process of moving business forward.

Leadership x Innovation x Execution

Based on the “ICMG sustainability model”, we have developed the model even further by organically strengthening the 3 areas of leadership, innovation, and execution, that are the cornerstones that lead to corporate growth.
The reason why we felt the need to develop our well-established model even further, is because of the changes that corporations face today in the world of IoT. The changes that IoT has brought to business is so drastic, that in many cases, it will mean the end of a corporation if the corporation does not adapt and change. The change that is required is based on identifying the off balance sheet strengths and values that are embedded in the corporations, developing and strengthening them further, and bringing them to the forefront of business as strengths that can be utilized properly. This includes experience and know-how gained and developed by the in-house human capital, and depends on the internal sharing and utilization of such knowledge in order to advance the group as a whole. In this light, changes are required in innovation too. What is required are leaders that have been trained to think in this way, and who understand that they are not bystanders who are doing a job that was given to them, but that they are part of the process, and need to feel a sense of ownership and responsibility as part of the team. In addition, additional intellectual capital is to be gained and added through alliances built organically with outside resources, seamless collaboration with partners in order to realize the business plans built, and timely and prompt execution of such plans.
One successful example of such a model, is the JV built in Sept. 2017 with Tokyo Electricity Energy Partners. This JV has not only developed joint business and services in Tokyo and Asia, but has strengthened its position even further through capital tie-ups with other major corporations and new business development.

Aspirations and Trust

The Intellectual Capital Management Group (ICMG) aspires to become a problem solver in society, aspires to partner with corporations with the same aspirations, and is building the required trust through striving to provide service “beyond the partners expectations”.
Our mid-term vision is based on becoming “The Best Accelerator” for our partners, and to provide the “ICMG sustainability model” through our bases in North America, Singapore, China, and India, along with partner corporations in 20 countries worldwide, and as a group, aim to lead our partners to sustainable growth.

Company Profile / History


19 April 2000

Main Office

Meiji Yasuda Life Insurance Bldg. 11F,
2-1-1 Marunouchi, Chiyoda Ku,
Tokyo, Japan Zip 100-0005

Call Us

Tel: 03-6812-2511
Fax: 03-6812-2514

Our Employees

51 (ICMG)
97 (ICMG Group)
(as of July 1, 2021)

Group Companies

Asia One Belt Road International Development Association

Corporate History

Oct 2001
Begins consulting based on Intellectual Capital measurement and improvement (Signed exclusive license for ICAB)
Dec 2001
Signs contract with Information-technology Promotion Agency, Japan(IPA)in order to research “methods for measurement of Intellectual Capital”.
Feb 2002
Signs contract with the Ministry of Finance in order to research “Intellectual Capital”
Apr 2002
Joins the Ministry of Finance “Intellectual Capital Study Group”
Apr 2003
Begins a strategic alliance with the Hitachi Ltd. to assist in corporate reform
Aug 2003
Signs contract with Information-technology Promotion Agency, Japan to develop “methods for measurement of corporate Intellectual Capital in the Software industry”
Sep 2004
Joins the Ministry of Finance “Study group concerning Intellectual Capital and Corporate Value” as the chair of the group
Oct 2004
Signs contract with Ministry of Finance to develop “indicators for Intellectual Capital”
May 2005
Received contracts for a number of corporation revitalization projects from the Industrial Revitalization Corporation (IRC)
Oct 2005
Assists the Ministry of Economy, Trade and Industry in the development of guidelines for Intellectual Capital Management.
Attends the OECD (Organisation for Economic Co-operation and Development) conference in Italy
Oct 2006
Signs contract with a stock exchange for enterprise management diagnostic check services for companies to be listed.
Dec 2006
Attended the OECD (Organisation for Economic Co-operation and Development) conference in Tokyo
Begins services for assisting in partnership development and M&A
Feb 2007
Signs a contract with a major convenience store chain for corporate analysis and assistance in management reform.
Apr 2007
Signs a contract with a major publisher to assist in Intellectual Capital evaluation and assisting in building corporate strategy.
May 2007
Increases paid up capital to Yen 308,000,000
Sep 2007
Signs a contract with a financial fund to assist in evaluations of companies for potential investments.
Mar 2009
Moves headquarters to Chiyoda Ku
Nov 2009
Signes license with ICAB for IC Rating® and the overseas partner network.
Mar 2010
Acquires 100% shares of ICAB
Jun 2011
Establishes ICMG Financial Services in Singapore
Oct 2011
Changes name from Actcell Corporation. to ICMG Co., Ltd.
Jan 2012
Establishes ICMG Consulting India
Feb 2012
Begins to offer Leadership training institute services
Jan 2013
Establishes Beijing ICMG Co., Ltd. (HQ Beijing)
Feb 2015
Establishes Suzhou ICMG Co., Ltd. (HQ Suzhou)
Jul 2015
Establishes ICMG USA (HQ Silicon Valley)
Sep 2017
Establishes TEPCO i-Frontier Co., LTD as JV with Tokyo Electricity Partners.
Apr 2018
Establishes Asia One Belt Road International Development Association.

Our Team

Board Members

Hitoshi Funahashi

Representative Director & Group CEO
Hitoshi Funahashi

After working at a general trading company where he gained experience in developing chemicals for overseas sales, export operations, and national bidding, Hitoshi Funahashi joined Recruit Corporation in 1987 and was assigned to the human resources general services division, and then to the new business development office.

In 1996, he led the creation of a business incubation division in the company. He also launched the publication of the magazine Entre and began to provide start-up companies with comprehensive support services combining the functions of a magazine, Internet, events, and individual consulting.

In 2000, he took over Recruit’s business support services project and established Actcell Corporation. In 2001, Actcell corporation entered a partnership with Intellectual Capital AB (ICAB), a Swedish intellectual capital rating company, and obtained the license for its IC Rating® approach for evaluating “off balance sheet” substantive corporate value, and successfully developed a Japanese version of this rating method.

In 2003, Actcell acquired the capital of ICAB, and in 2010 made the Swedish company a 100% subsidiary.Hitoshi is an advocate of intellectual capitalism, which ensures fair and appropriate profits for all stakeholders of companies including top executives, employees, partners, customers, and shareholders. He is actively engaged in studying and implementing ICMG’s own approaches to intellectual capital management.

  • MBA and Ph.D. from the Graduate School of Economics at Waseda University.
  • Member of the Subcommittee on Management and Intellectual Assets, New Growth Policy Committee, Industrial Structure Council, METI.
  • Vise-Chairman (2009) and Secretary (2010) for Middle Market Business Revitalization Committee, Japan Association of Corporate Executives.
Hirohisa Ishikawa

Coo & IWNC Representative Director
Hirohisa Ishikawa

In the 7 years as Representative Director, he has tripled the size of business of IWNC. Based in China, one of the most competitive markets worldwide, Hirohisa focuses on the development of personnel that can strive in the global market, assists in localization support, strategic support , and organization building support towards Japanese companies expanding into the Asian market.

  • BA in Economics and Finance from Kent University
Yousuke Yagi

CPO (Chief People Officer)
Yousuke Yagi

After working mainly in the HR department of Nippon Kokan Kabushikigaisha, he was seconded to National Steel, and spent his time there as assistant to the CEO. He joined GE in 1999 and was put in charge of the HR department for Healthcare Asia, Money Asia, and then GE Japan. In 2012 he joined the LIXIL Group Corporation as the LIXIL Group Executive Vice President, and as a Board member and the Vice President of LIXIL Corporation. Yousuke was also appointed the Chief HR Officer, and was deeply involved in the corporate reform, the globalization, training of leaders, promotion of diversity, and the strategic placement of human resources. Yousuke is the co-author of “The vision of strategic HR – Don’t be limited by the structure, tell the story” (Kobunsha shinsho).

  • Graduated School of Economy of Kyoto University in 1980, gained Master of Science in 1992 from MIT Sloan School.

COO (Chief Operating Officer)
Hiroyuki Wada

Former COO of Information & Telecommunication Group in Hitachi Information & Telecommunication System, CEO of Hitachi ICT Business Services, Ltd. Joined Hitachi,Ltd. in 1980. Senior VP of Hitachi Computer Products(America),Inc. in 1998. General manager of IP Network at Enterprise Server division at Hitachi, Ltd. in 2001. Senior executive manager of Enterprise Server division at Hitachi,Ltd. in 2003. CEO of ALAXALA Networks Corporation in 2004. Senior executive manager of Network at Hitachi Information & Telecommunication System in 2014. COO of Information & Telecommunication Group in Hitachi Information & Telecommunication System in 2013.

  • Graduate from Waseda university majoring Science and Engineering.
Isao Segawa

CFO (Chief Financial Officer)
Isao Segawa

Isao Segawa worked for Sojitsu Corporation, a general trading company. He spent eight years stationed abroad, working in the areas of international trade and business investment. In 2005 he began serving as a board member (and later as Representative Director) of a business investment company (Staff Service Investment, which later became OG Investment) for a major temp agency and engaged in business revitalization of restaurants, resort hotels, golf courses, and Japanese sake manufacturers, as well as investment in technology ventures. He joined ICMG in 2012 and manages various M&A and alliance projects, while also serving as the CFO.

  • Graduate of the Faculty of Law at Kobe University.

External Board Member
Noriharu Amiya

Hitachi,Ltd. General Manager , Management Planning Office Strategy Planning Division.

Etsuo Murase

In 1977 he joined Hitachi Ltd as the financial manager of the electricity division. His prior roles have included serving as the managing director and director of finance then executive officer of Hitachi Medical Corporation. He served as president and representative director of Hitachi Urban Support. Currently he is appointed corporate auditor of Hitachi Urban Investment.

  • Graduated in economics from Kyoto University

Executive Officer

Hidetoshi Kikuchi

Executive officer,TEPCO i-Frontiers President
Hidetoshi Kikuchi

Hidetoshi spent 10 years at Recruit focusing on sales, business planning, service development, and overseas business development, before joining Actcell Corporation (which later became ICMG) at its beginning. Hidetoshi has rich experience in management restructuring, organization restructuring, new business development projects, and business incubation in the fields of General Electronic Manufacturers, Energy, Automotive, Railways, IT, Material, Food, Logistics, General Consumer Goods, and TV/Radio.

  • Graduated the School of Engineering at Kyoto University, majoring in Chemical Science.
Yusuke Tsuji

Executive officer,CSO(Chief Sustainability for Society Officer)
Yusuke Tsuji

After working at J.P. Morgan, Yusuke Tsuji joined ICMG, where he is primarily involved in new business developments and Open Innovation. Besides working closely with clients from the idea stage to the commercialisation of their businesses, he has broad experience in facilitating the design and implementation of innovation strategies, corporate innovation processes, personnel requirements and various systems, etc, so as to deliver effective innovation management in large enterprises. He also has experience working under several directors.

  • Graduate School of Engineering, Kyoto University.

Executive officer,Human Resources and General Affairs
Akemi Ishihara

After worked in real estate contracting business at Recruit Cosmos Co., Ltd. (now COSMOS INITIA Co., Ltd.,) worked for Business Incubation division of Recruit Co., Ltd and several companies, she joined Actcell Corporation (later ICMG) from its inception. In the corporate division, she has been a head of Human Resource and General Affairs. She has also been leading the company’s Human Resource and Organization Development as a practitioner of intellectual capital management.

  • Graduated from Waseda University (Literature)

Global Partners

ICMG Singapore Representative
Clarence Tan

A serial entrepreneur. The founder and former CEO of Perfect Innovation, GlobalRoam, and many other technology start-ups in Singapore. Director of STT Connect, the cloud servicer of STT, a major telecom in Singapore.

  • National University of Singapore(NUS) MBA

Director, ICMG India

As a certified public accountant, J Suri launched Suri Consultants Pvt. Ltd., and has provided financial and corporate advisory services for over 30 years. He is also a co-founder of Bizworth India Pvt. Ltd., specializing in assessment and enhancement support of intellectual capital. He is a member of the All India Management Association (AIMA) of the Federation of Indian Chambers of Commerce & Industry (FICCI), and has served as the Chairman of the Finance, Capital Markets & Foreign Investment Committee.

  • Qualified Chartered Accountant. Master’s degree from the Sydenham College.

ICMG Silicon Valley Representative
Tom Tateno

Former Vice President of Recruit USA. Has rich experience in setting up US offices for Japanese corporations, building management teams, and strengthening organizations, with experience and knowledge in M&A, Buyouts, advisory in Organization offshore outsourcing, and team building, along with leading in projects setting up Japan offices for foreign corporations, and structure advisory.

  • Graduated from the Graduate School of Keio University, Administration Engineering Faculty of Science and Technology

Executive Advisor
Ryoji Sato

He joined Hitachi Credit Corporation (now Hitachi Capital Corporation) in 1982. He has served as Deputy General Manager of the Accounting Department, Senior Manager of the President’s Office, General Manager of the Hitachi Group Strategy Office, and President of Hitachi Capital Securities Corp. Also, he has served as Managing Director of Operations and General Manager of Legal Department, Hitachi Capital Corporation, President and Representative Director of Hitachi Capital Insurance Co., Chairman of Hitachi Leasing (China), Executive Officer of Hitachi Capital Corporation in charge of China Region (General Representative for China), and Executive Officer of Hitachi Capital Corporation in charge of Business Strategy Headquarters. He has held a number of public positions, including an expert member of a government council, and has written many papers.

  • Graduated School of Social Sciences at Waseda University.
  • Graduated School of Law and Politics at Tokyo University.

WEnergy Global Pte Ltd CEO
Atem S Ramsundersingh

After time spent at the senior manager of Energy Management of the World Bank, and as the CEO of a conglomerate venture in Malaysia, Atem established WEnergy in Singapore. While serving as a policy consultant for ASEAN nations and energy and utility companies in Asia, WEnergy provides energy generation and power transmission. Is the owner of a professional network that includes personnel residing in over 65 countries.

New Club of Paris
Leif Edvinsson

As the first Corporate Director of Intellectual Capital at Skandia Sweden, Leif Edvinsson established the theory of intellectual capital management and greatly contributed to Skandia’s growth based on its intellectual capital. He has served as a professor at Lund University in Sweden, and the Honorary Chairman of the Henley Knowledge Management (KM) Forum in the UK. As a high-level expert for the European Commission, he oversaw the creation of an intellectual capital report. He is currently the President of the New Club of Paris.

  • MBA from the University of California, Berkeley.

Executive Advisor
Fumihiro Ohba

At McKinsey & Co., Fumihiro Oba was in charge of planning and implementing growth strategies, company reform projects, and new business planning for clients in many industries including the electronics, telecommunications, healthcare, automobile, and publishing. He joined ICMG in 2005.
He has developed numerous reform programs that organically connect a company’s sources of value such as its human resources, relationships, and organizing abilities to strategies. He has led reform projects by working integrally with Japanese and overseas companies in areas of growth strategies formulation, company reform projects, corporate integration, innovation, and business development initiatives. He specializes in helping companies, by taking a holistic view of their business, to enhance their ability to generate continuous results through both business and organizational strategies.

  • Master’s degree from the Graduate School of Science and Technology at Keio University.
  • MBA from INSEAD.


Director of IC
Anthony Willoughby

Anthony Willoughby is the founder of IWNC. During an expedition to Papua New Guinea, his team that was working together toward a common goal ended up losing its enthusiasm due to the incessant complaining by one of its members. Based on this experience, he established the I Will Not Complain team building and leadership development programs in Japan in 1989, and in China in 1992. Through his 10-plus years of continued dialogue with the chiefs of tribes in Papua New Guinea and Kenya, Anthony developed a visualizing process called Territory Mapping that provides creative and new perspective on where one currently stands and where he or she is headed without being restricted by preconceived ideas.

Yasuhito Hanado

Yasuhito Hanado is a former professor (in charge of corporate financial accounting, IR strategy, corporate governance, global accounting, and master’s and doctoral program study projects) in the Graduate School of Commerce at Waseda Business School (WBS).

  • Member of the planning committee of the Japan Investor Relations Association. Adviser to the Japan Academic Society of Investor Relations.
  • Member of the National Investor Relations Institute (US).
  • Member of the steering committee of the World Intellectual Capital/Assets Initiative.

Shuichi Matsuda

Shuichi Matsuda is a professor emeritus of Waseda University.
He is the chairman of the board at WERU Investment Co., Ltd. His areas of specialty include accounting science, management auditing, and venture company growth theory. Shuichi is a former chairman of the Japan Academic Society for Ventures and Entrepreneurs (JASVE), is currently the Director of JASVE and Chairman of its Special Committee. He has also served as the Chairman and President of venture-related committees of government bodies including the Cabinet Office, the Ministry of Economy, Trade and Industry (METI), and the Ministry of Internal Affairs and Communications (MIC), as well as of academic-industrial alliances and the MOT consortium.

  • Shuichi’s written works include Reading the Introduction to Business Seminar Company, Venture Company, Technology Venture, and Innovation of JAPAN Series1, 2, 3.

Our Partners

ACA Group
Ant Capital Partners
Stock Research Center
Japan Innovation Network

Global Network

ICMG carries out a variety of global projects ranging from business evaluations (financial evaluation, intellectual capital evaluation, business feasibility evaluation), to searching for specific partnerships, to promote industry-government-academia cooperation projects worldwide, by working with global networks in over 20 countries, five overseas subsidiaries and 23 global business partners.

By working with ICMG’s global partners, we are able to gain knowledge from professionals from a wide range of localities and fields. By cooperating with partners who are rooted in their respective regions and are well versed in the unique business manners and processes that differ for each region and culture, we are able to resolve the unexpected and complicated business issues that companies often face when expanding their businesses overseas.

Our Overseas Subsidiaries

United States
ICMG USA (Silicon Valley)
ICMG China (Beijing)
ICMG Consulting India Private Limited (Bangalore)
Intellectual Capital Sweden AB

*In November 2009, ICMG acquired ICAB (Intellectual Capital Sweden AB), as a wholly owned subsidiary. ICAB developed the concept and tool of IC Rating®, and ICMG has obtained its intellectual capital.



ICMG Co., Ltd.


Meiji Yasuda Seimei Bldg. 11st Floor, 2-1-1,Marunouch, Chiyoda-ku, Tokyo 100-0005 JAPAN
Phone: +81 (0)3-6812-2511
Fax: +81 (0)3-6812-2514


  • From JR Tokyo Station, leave through the Marunouchi South Exit, then walk 5 minutes.
  • From JR Yurakucho Station, leave through the International Forum Exit, then walk 5 minutes.
  • Take the Chiyoda Subway Line to Nijubashimae Station. We are located at Exit 3.