I run a successful SaaS biz in Japan. Its possible, but its waaay hard. The article is right in principle. Unless you are 110% all in on localizing and hiring lots of local staff, to the extent that you will give up priorities in other markets, its not worth trying. Otherwise its a waste of blood and treasure—a local player will eat your lunch.

A consultant like Nihonium or whatever wont be able to help you really. Like any good consultant, they will be there to tell you things you already know. The motivation to do it needs to come fundamentally from your own company.

And even after doing all that, VCs will still undervalue your company vs a similarly sized US company.