This fourth annual FT ranking of 500 of the Asia-Pacific region’s high-growth companies — compiled in partnership with research provider Statista — is the most competitive to date.

In order to be listed in the top 100, a company now needs to show almost 100 per cent revenue growth in its financial statements every year, for three years.

The list ranks entrants from across the region by their compound annual growth rate (CAGR) in revenue between 2017 and 2020 (China has been omitted due to difficulties in verifying data).

The top three companies are: a Philippines ecommerce enabler for both regional and big multinational brands; a South Korean health tech group producing diagnostic medical devices focused on virus immunity; and an app maker, also from South Korea, specialising in the provision of live sports commentary in real time, via text and audio.

Other notable companies in the ranking include a developer of computer-generated holographic control systems, a toy subscription service, a creative platform for cartoons, a provider of student information systems, and a cloud storage business.

Japan has the most entries in this year’s list, with 168 companies, followed by India with 97. Singapore comes in third with 61, edging past Australia, which has 60.

The cities with the most growth champions listed are Tokyo, which has 97, and Seoul, with 42.

We will take a closer look at the companies featured in the list in a special report, to be published on April 7.

Like last year, technology is the sector with the biggest presence in the ranking, with 27 per cent of companies falling into this category. Also well represented are fintech, property, advertising, support services and ecommerce.

A ranking such as this can never claim to be complete, however, as many fast-growing companies are privately held and detailed financial information is not made public. Also, some companies in the region did not want to reveal their revenue figures, or chose not to take part for other reasons.

Of those that did disclose and verify their revenues, the 500 fastest-growing are listed in the table here. Readers can use the toggle arrows at the top of the table’s columns to filter by country, sector or revenue.

See the full methodology below the table.

Companies that are interested in participating in next year’s ranking can register here to be shortlisted. The application period will start in September 2022.


High-Growth Companies Asia-Pacific 2022
RankIn 2021 rankingNameCountryCategoryAbsolute growth rate (%)Compound annual growth rate (CAGR) %Revenue 2020 $mnRevenue 2017 $mnNumber of employees 2020Founding Year
1NoGreat Deals E-Commerce Corp.PhilippinesEcommerce30,135571.288.770.293852017
2NoPCL Inc.South KoreaPharmaceuticals10,506373.445.480.45632008
3YesSpoliveSouth KoreaGames industry9,107351.69.490.11472013
4NoWorkmateSingaporeSupport Services8,751345.612.440.14822015
5NoTaiMed BiologicsTaiwanPharmaceuticals8,464340.824.420.28782007
6YesSCI EcommerceSingaporeEcommerce7,294319.7108.461.471642014
7NoI-CY CHAYA ThailandFood & Beverage7,098316.044.040.5672012
8NoGrow FinanceAustraliaFintech4,963269.915.020.33522016
9NoSAMBHV SteelIndiaIndustrial Goods4,596260.864.651.573552017
10NoINTELUCKPhilippinesTechnology4,587260.67.060.151082014
11NoGOPIZZASouth KoreaFood & Beverage4,548259.56.170.141012017
12YesScaler by InterviewBitIndiaEducation4,500258.331.040.775942016
13NoPixie Dust TechnologiesJapanTechnology4,143248.84.560.10612017
14NoHaulioSingaporeTransport3,294223.85.620.17212016
15NoDigioIndiaTechnology3,233221.86.750.23132016
16NoSkillmaticsIndiaEcommerce2,989213.87.420.27602016
17YesROINET SolutionIndiaFintech2,900210.723.520.892022012
18NoGlints InternSingaporeSupport Services2,849209.09.780.333182013
19NoReqreaJapanProperty2,485195.73.360.12342016
20NoAmberstudentIndiaProperty2,355190.63.640.171202015
21YesTangerine TelecomAustraliaTelecoms2,122181.135.241.771002014
22NoOmkaraIndiaFinancial Services1,985175.210.710.59392014
23YesMarketKurlySouth KoreaEcommerce1,946173.5807.4941.181,0462015
24NoZigma GlobalIndiaWaste management & recycling1,930172.821.691.221,0962015
25NoGreedyGameIndiaTechnology1,900171.49.450.54602013
26NoSankey SolutionsIndiaTechnology1,799166.82.610.161862017
27YesCarroSingaporeTechnology1,763165.1215.0111.539742015
28No360FSingaporeFintech1,733163.73.630.20302016
29YesBR MetalsSingaporeWaste management & recycling1,672160.7143.128.08262009
30NoBulkings DistributionSingaporePersonal & Household Goods1,643159.310.650.61202017
31NoT&R BiofabSouth KoreaPharmaceuticals1,578156.05.770.36722013
32YesAI insideJapanTechnology1,545154.343.062.491022015
33NoFlexing ItIndiaTechnology1,541154.13.130.22252014
34NoStylist in Pocket Technologies, Inc.PhilippinesFashion1,433148.41.560.10432016
35YesNiumSingaporeFintech1,399146.615.981.074222014
36NoYAMAPJapanTechnology1,377145.47.200.46652013
37YesDovetailNew ZealandTechnology1,315141.88.470.66312015
38NoHarchJapanMedia1,314141.85.180.35292015
39YesIGOODSJapanSales & Marketing1,303141.230.012.04302016
40NoHegenSingaporePersonal & Household Goods1,282140.024.311.76222014
41NoKALEIDO JAPANJapanArchitecture1,251138.25.450.38102011
42NoRedpeak AdvisersSingaporeFinancial Services1,229136.910.110.7672016
43NoMikienergyJapanEnergy1,171133.48.620.6552015
44NoclosipJapanCyber Security1,170133.31.430.11122016
45YesCoda PaymentsSingaporeFintech1,094128.6144.8612.132322011
46NoLoshipVietnamFood & Beverage1,075127.314.541.242002017
47NoFirst CirclePhilippinesFinancial Services1,042125.25.620.481082016
48NoCloudWaveAustraliaTechnology1,039125.03.770.37182013
49NoMohan Electro CastingIndiaIndustrial Goods1,037124.93.230.32352002
50NoGTOG InternationalSouth KoreaSales & Marketing1,020123.835.343.29252016
51NoNKC ASIAJapanTechnology1,005122.737.923.27902015
52YesTheMathCompanyIndiaManagement Consulting984121.313.851.454942016
53NoSelfWealthAustraliaFintech976120.812.641.31342012
54NoWhatfixIndiaTechnology972120.513.451.434712013
55NoSprintlawAustraliaLaw943118.51.700.18252017
56NoMetal HeartSouth KoreaRetail934117.814.731.4932017
57NoDrive YelloAustraliaTransport925117.27.840.85602015
58NoDifferent Millions , IncSouth KoreaBeauty924117.24.520.46382017
59NoStay GoldJapanProperty924117.19.400.8732010
60YesPicoCELAJapanTechnology913116.42.030.19252008
61NoParcelportNew ZealandEcommerce913116.43.980.43102012
62NoDwarves FoundationVietnamTechnology891114.81.000.10452015
63NoFunding SocietiesSingaporeFintech880114.016.291.663532015
64NoForesee Pharmaceuticals TaiwanPharmaceuticals871113.47.790.78NA2013
65NoMiss AmaraHong KongEcommerce846111.511.261.33542014
66NoSmartworks Coworking SpacesIndiaProperty840111.042.935.203092016
67NoIncomlendSingaporeFintech839111.02.730.29372016
68NoGATESJapanProperty837110.888.589.00902012
69NoGLOCAL NETJapanTelecoms835110.724.792.5292016
70NoWafour CorporationSouth KoreaMedia834110.62.870.32112017
71NoBomsenSouth KoreaAdvertising817109.32.660.30202017
72NoAD Corp.South KoreaChemicals797107.81.360.1682017
73No42MaruSouth KoreaTechnology788107.12.550.30652015
74NoVyaparIndiaFintech785106.91.460.192,2172016
75NoSIKSINSouth KoreaTechnology777106.22.840.34292010
76NoLawTalkSouth KoreaLaw772105.92.620.31532012
77NoI’MWEBSouth KoreaEcommerce766105.46.680.81402010
78YesSolbariAustraliaEcommerce752104.23.510.46162013
79YesInstaSafeIndiaTechnology751104.22.120.28402012
80YesBlue WirelessSingaporeTelecoms749104.04.380.52502015
81NoJCO JewelrySingaporeEcommerce746103.86.130.72212016
82NoTorana (Toysub!)JapanEducation739103.21.160.131602015
83YeswadizSouth KoreaFintech737103.119.122.382712012
84NoPragmaSingaporeCyber Security733102.81.090.13182016
85NoProjectCompanyJapanManagement Consulting733102.710.351.18402016
86NoSafeGoldIndiaFinancial Services732102.756.107.67422017
87NoMinfy TechnologiesIndiaTechnology725102.013.831.912502010
88NoM2P FintechIndiaFintech717101.45.150.723302014
89YesCardocSouth KoreaTechnology713101.114.421.85672014
90NoGGDPSouth KoreaAdvertising707100.61.710.22142017
91Noexcess2sellIndiaEcommerce707100.613.391.89122016
92NoReflow HubAustraliaTechnology706100.525.463.52102017
93NoSpark SystemsSingaporeFintech69599.51.270.16492016
94NoE42 (formerly NLPBOTS)IndiaTechnology68398.61.480.21372012
95NoAirXJapanAerospace & Defence67497.81.440.1892015
96YesSqreem TechnologiesSingaporeTechnology67197.65.850.761752010
97NoTaiwan Cogeneration CorporationTaiwanEnergy67097.5314.8339.732961992
98NoAstro GroupTaiwanGames industry66196.711.991.531701989
99NoArcontek Co., Ltd.South KoreaIndustrial Goods66096.61.280.18112017
100NoAD IntelligenceSouth KoreaAdvertising64595.31.750.24252015
101NoSoLaboJapanManagement Consulting63794.64.800.62502015
102NoArtienceSouth KoreaSupport Services63294.212.221.74782009
103NoVahdam IndiaIndiaFood & Beverage62393.321.463.384002015
104NoIncreffIndiaTechnology61993.04.680.741132016
105YesZeal DigitalAustraliaAdvertising61692.72.090.32602015
106NoHomage CoSingaporeHealth61192.35.070.711202016
107NoPostypeSouth KoreaMedia60992.12.940.43192016
108NoShuumatsu WorkerJapanSupport Services60491.78.721.18402016
109NoMy RewardsAustraliaTechnology60491.710.111.60112000
110YesNJ-ENEXJapanRetail58289.718.622.60452015
111NoLogispotSouth KoreaTransport58089.532.755.02852016
112NoSpaceCloudSouth KoreaProperty57689.12.020.31222013
113NoMacarong FactorySouth KoreaAutomobiles57689.01.070.17202015
114NoZairyoSingaporeEcommerce57589.02.110.31102014
115NokujiraterraceJapanArchitecture57589.03.220.4532017
116No株式会社GSCJapanConstruction57088.54.430.63262014
117YesinglewoodJapanSupport services55787.3140.5020.351502005
118NoCIM Environmental Pty LtdAustraliaTechnology55587.13.230.55452013
119NoFood ForceJapanFood & Beverage55386.92.660.39202015
120NoUNITED SILKJapanSales & Marketing55286.85.080.7482016
121NoMedtecsTaiwanHealth54886.413.532.037,5001989
122NosumarchJapanProperty54786.334.995.151502009
123NoAmaziaJapanMedia54385.970.4710.44292009
124NoTidehold DevelopmentTaiwanConstruction54285.814.612.21151949
125YesGA TechnologiesJapanProperty53885.5570.8985.204792013
126YesRENEW ITAustraliaTechnology53385.013.902.45602008
127NoC&TechSouth KoreaFintech53284.91.570.26402012
128NoSherpaAustraliaLogistics52584.222.464.00202014
129NoNihon 3D PrinterJapanRetail52283.96.851.05182013
130NobitbankJapanFinancial Services51082.715.552.43842014
131NoPomeloThailandFashion50782.433.965.605902014
132NoVALDAustraliaHealth49180.87.361.39922015
133NoRoccoco Cosmetics Pty LtdAustraliaBeauty48580.22.480.47242011
134NoRoserve EnviroIndiaWaste management & recycling46678.23.490.7042016
135NoLive gateJapanProperty46277.76.501.1012016
136NoProgateJapanEducation46177.76.811.16492014
137NoPubliftAustraliaTechnology45577.121.244.26252014
138NoB-Light NeoJapanArchitecture45376.826.514.56142016
139YesDeclaratorsSingaporeTransport45376.82.200.40372014
140NoMillennium EnterpriseSingaporeRetail45276.74.390.8072016
141YesSpacetalkAustraliaTechnology45176.610.412.10542001
142YesIndiQubeIndiaProperty45076.540.078.293212015
143YesGeneReach BiotechnologyTaiwanHealth44976.429.055.14792004
144NoHERPJapanTechnology44876.31.450.25492017
145YesNorth Star ManagementJapanManagement Consulting44475.95.500.96102016
146NoConnexion TelematicsAustraliaTechnology44075.54.110.85142001
147NoConvergePhilippinesTelecoms43274.6315.4258.333,0062007
148NoenjinJapanTelecoms42974.35.661.0272007
149NoPINCH HITTER JAPANJapanRetail42673.96.321.14742014
150NoMisoSouth KoreaTechnology42073.26.441.291302015
151YesLeadSquaredIndiaTechnology41772.913.422.957502011
152YesRoadbull LogisticsSingaporeTechnology41672.811.842.29692015
153NoHerbal iJapanEcommerce41172.28.021.49602015
154NoiPartnersAustraliaFintech40671.72.370.52252017
155NoRI TexsolutionsIndiaIndustrial Goods40271.23.820.87442017
156NoMan of ManyAustraliaMedia39970.91.770.3992012
157YesRealize GroupJapanFinancial Services39970.8237.7745.39502005
158NoGig Inc.JapanTechnology39870.84.920.94722016
159NoIGAWorksSouth KoreaTechnology39570.4108.0322.774002006
160NoSprout SolutionsPhilippinesTechnology39570.43.920.781892011
161NoLight MicrofinanceIndiaFinancial Services39370.215.153.501,2772009
162NoSpeed TechTaiwanIndustrial Goods39069.8500.5199.293901990
163NoLead EdgeJapanTechnology39069.81.500.2952014
164YesClasse365AustraliaTechnology38769.51.360.31232013
165NoOLIMPLANETSouth KoreaTechnology38769.45.101.09502015
166NoNeo HomeJapanArchitecture38469.211.402.24112016
167YesCyber Security CloudJapanTechnology38369.111.182.20592010
168NoMedParkSouth KoreaTechnology38369.03.510.76472017
169NoONDASouth KoreaTechnology38369.04.310.93542016
170NoSmart JoulesIndiaEnergy37668.22.210.531102014
171NoShootstaSingaporeTechnology37468.02.110.45302017
172YesLexicon DigitalAustraliaTechnology37067.59.302.201022016
173NoHeroes of DigitalSingaporeAdvertising37067.52.980.63402015
174NoPERKii ProbioticsAustraliaFood & Beverage36967.42.230.5392015
175NocolyJapanGames industry36967.459.3012.042362014
176NoBoCoJapanIndustrial Goods36667.04.830.99302015
177NoAquagri ProcessingIndiaFood & Beverage35265.419.864.992002007
178No3-D MatrixJapanIndustrial Goods34864.99.592.04692004
179NoAudience Group Agency Pty LtdAustraliaAdvertising34564.59.412.35162016
180NoPenbrothersPhilippinesSupport Services34464.410.592.355922014
181NoPredictiveThailandTechnology34464.43.410.71652012
182YesPlayground XYZAustraliaTechnology34264.120.195.09482015
183NoROMACJapanConstruction34063.99.492.05302014
184NoNewsystockSouth KoreaFintech34063.82.620.62192011
185YesOfbusinessIndiaFintech33863.6237.1161.588252015
186NoJOORENJapanTechnology33863.61.450.32312011
187NoGUILD STUDIOJapanGames industry33363.020.574.52642016
188NoConnecting The Dots SGSingaporeTelecoms33262.910.012.3112016
189YesTiger AnalyticsIndiaManagement Consulting33062.617.734.691,0772012
190NoSterling Accuris DiagnosticsIndiaHealth33062.618.104.798952014
191NoResource CreationJapanAdvertising32962.52.160.48202015
192NoCurvy.com.auAustraliaEcommerce32461.94.761.25202014
193NoAusDiagnosticsAustraliaHealth31760.935.219.411102006
194NoCulture AmpAustraliaTechnology31660.961.0216.325342009
195NoSignifi MediaAustraliaAdvertising31660.85.021.35222015
196NoTO THE NEWIndiaTechnology31660.857.3015.691,5382006
197YesKuradashiJapanFood & Beverage31560.811.832.71332014
198Noair accountingAustraliaFinancial Services31460.61.380.37192015
199Yes2C2PSingaporeFintech31360.5122.4429.634062003
200NoBubblestarJapanFood & Beverage30659.515.643.6792010
201YesEveryday MassiveAustraliaManagement Consulting30058.83.671.02252006
202NoGLOBAL JAPANJapanPersonal & Household Goods29958.612.873.07302012
203YesCurioAustraliaEducation29858.56.391.792002013
204NoINEX InnovateSingaporeHealth29558.05.281.34352006
205NoWebskittersIndiaTechnology29357.91.350.391672013
206NoayonixJapanTechnology29157.61.090.28102007
207NoFUGU INNOVATIONS JAPANJapanTechnology29157.614.223.4682015
208NoRSQUARESouth KoreaProperty29057.454.6414.613272009
209NoReLicJapanTechnology28757.010.402.56692015
210NoitsumoJapanEcommerce28556.882.3920.351752007
211NoGrowJapanFashion28556.742.4510.50552008
212NoWishcompany Inc.South KoreaBeauty28456.543.5311.84642010
213YesW-ENDLESSJapanAdvertising28456.515.893.94902014
214NoSun Brothers DevelopmentTaiwanProperty28156.259.3315.13NA1980
215NoCloudKaptanIndiaTechnology27555.44.501.37782014
216NoMEGA The Privacy CompanyNew ZealandTechnology27455.221.196.21942012
217NoGlaucusIndiaTransport27154.84.311.321242015
218NoInst. Global SocietyJapanTechnology26954.64.821.24332010
219YesGNI GroupJapanPharmaceuticals26954.591.5423.615392001
220NoNIIGATA TOCHI TATEMONO HANBAISENTAJapanProperty26954.514.003.61252013
221NoPrimalThailandAdvertising26854.46.991.75772015
222NoHealthiansIndiaHealth26654.19.052.811,1152015
223NoTrackem Pty LtdAustraliaTechnology26453.82.080.64182014
224NoTitan ArtJapanAdvertising26453.85.881.54382009
225NoSnooperAustraliaTechnology26353.61.150.35112015
226NoLivingstone HealthSingaporeHealth26253.514.554.02802017
227NoTiger MediaSingaporeMedia26153.346.6712.952182015
228NoRedbubbleAustraliaEcommerce26053.2452.36140.113002006
229NoSANGACIO JAPANJapanFashion25953.13.871.0332015
230NoStar StallionIndiaFashion25752.86.282.001512012
231YesSika Interplant SystemsIndiaAerospace & Defence25552.611.103.56751985
232YesKenergieIndiaChemicals25552.5226.3772.66352004
233YesSHIFTJapanTechnology25152.0268.9172.884,8002005
234NoArchistarAustraliaProperty24951.71.590.51602016
235YesXcel PetroleumMalaysiaRetail24951.731.408.79152007
236NoMotoristSingaporeAutomobiles24951.72.280.65502015
237NoNRT Trading & EngineeringSingaporeSupport Services24651.39.022.604742011
238YesKinara CapitalIndiaFintech24450.931.4110.401,1251996
239NoAT Prompt SupplyThailandConstruction24250.63.000.8192014
240Noi-net.creationJapanTelecoms24050.41.820.51352013
241NoTrust IndustryJapanConstruction23950.34.781.3482005
242YesZifo RnD SolutionsIndiaTechnology23850.144.8615.098352008
243YesSinorbisAustraliaSales & Marketing23649.81.470.49202016
244NoVenugram HospitalIndiaHealth23649.83.451.172502013
245NoVidoolyIndiaTechnology23549.61.890.64962014
246NoZenmarketJapanEcommerce23549.667.3219.141952014
247NoZemosoIndiaTechnology23349.36.202.121762012
248YesMTP ServicesAustraliaManagement Consulting23249.231.1210.421502016
249NoAI CrossJapanTechnology23249.217.875.12332015
250YesLasertecJapanTechnology23149.0657.91189.475291960
251YesTutor2youAustraliaEducation23048.91.880.633502016
252NoPlentiAustraliaFintech22948.736.5612.381222014
253NoLivewire MarketsAustraliaTechnology22948.72.270.77192013
254NoSolarismIndiaEnergy22848.613.974.85732008
255NoTaiwan MaskTaiwanIndustrial Goods22748.4157.7546.882131975
256NoSupportasJapanTechnology22648.210.843.171262010
257NoReabroadJapanEducation22548.26.351.86532014
258NoLIVEJapanSales & Marketing22548.14.021.18212014
259NoInnov8tifMalaysiaTechnology22448.02.040.62342011
260NoAINS-LABJapanLaw22147.514.094.18102010
261NoUreru Net AdvertisingJapanAdvertising22147.525.947.69332010
262NoHiiizLJapanRetail21947.23.631.08452014
263YesAhrefsSingaporeTechnology21847.065.5020.62272012
264NoWEBEDGEJapanTechnology21646.75.061.53502008
265NoOrient SoftwareVietnamTechnology21646.76.622.103122005
266NoCocorportJapanSupport Services21546.631.149.414872012
267NoKeiei Support PlusJapanManagement Consulting21446.42.220.67252012
268YesJapan Project SolutionsJapanManagement Consulting21446.45.921.80442013
269NoARRCHJapanArchitecture21446.47.372.24251972
270NoRelic ChemicalsIndiaChemicals21346.32.290.8342015
271NoWorldUtilityJapanSales & Marketing21246.21.310.4082015
272NoInnoPharmaxTaiwanPharmaceuticals21246.14.631.44302005
273YesEngage SquaredAustraliaTechnology21145.97.272.61532014
274NoCHENGSI JAPANJapanTechnology20945.71.850.57192016
275NoCogoportIndiaTechnology20945.720.927.691652016
276NoMitsufujiJapanTechnology20845.510.483.24251979
277NoPowertip Technology CorporationTaiwanIndustrial Goods20545.126.708.50302003
278NoGearJapanSupport Services20545.16.802.12552011
279NoBOOKKSouth KoreaMedia20344.72.310.80102014
280NoSCIKEYIndiaTechnology20244.55.702.153432016
281NoSasmosIndiaAerospace & Defence20144.366.5325.184332007
282NoKaitohJapanArchitecture20044.39.122.89572009
283NoOTSO FinTechTaiwanFintech20044.31.660.55202015
284YesMother GooseJapanEducation20044.33.181.011251994
285NoGoodpatchJapanManagement Consulting20044.220.076.371952011
286NoYuanTaiwanTechnology20044.291.4529.611211990
287YeseCloudvalleyTaiwanTechnology19944.1237.4877.153382013
288NoIeno LaboJapanEcommerce19944.13.821.22122014
289NoAirtaskerAustraliaTechnology19944.018.296.821702012
290NoYanogumiJapanArchitecture19844.02.920.93102013
291NoKMC SolutionsPhilippinesSupport Services19843.972.9524.132,1642010
292NoMercantile InsurancePhilippinesFinancial Services19743.737.7712.533191962
293NoBizMowJapanSupport Services19643.71.360.44802008
294NoRhino ProductsJapanBatteries19643.63.070.9982015
295NoKing KongAustraliaSales & Marketing19543.515.335.78612014
296NoStyleedgeJapanManagement Consulting19443.381.0126.191232008
297NoLAMBELLJapanTechnology19443.33.781.22152015
298NoYamato InfilinkJapanProperty19343.120.056.51252015
299NoD.BLENTSouth KoreaAdvertising19343.022.668.09712016
300YesSuperOx JapanJapanIndustrial Goods19242.95.141.68202011
301NoTokyo TsushinJapanAdvertising19242.922.947.48572015
302YesRedhill WorldSingaporeSales & Marketing19242.93.361.15952014
303NoVision SensingJapanIndustrial Goods19042.63.451.13192008
304NoMental Health TechnologiesJapanHealth19042.68.872.91602011
305NoPrestfareJapanConstruction18842.25.051.67102016
306NoEcom ExpressIndiaTransport18642.0219.0187.0022,9492013
307NoLaboriJapanEducation18641.94.631.541002014
308YesNEW AIMAustraliaEcommerce18641.9236.1092.042832005
309NoAdobuteJapanTransport18641.96.342.11772015
310NoUnique PlusJapanEnergy18441.62.580.8772015
311NoSaahas Zero WasteIndiaWaste management & recycling18341.53.931.582132013
312NoPrecision System Science (PSS)JapanTechnology18141.184.7328.711871985
313NoAVerMedia TechnologiesTaiwanTechnology18141.1238.3582.541801990
314YesOrbitRemitNew ZealandFintech18041.011.154.36422008
315NoYeap Medical SuppliesSingaporeHealth18040.949.9217.84822000
316YesTableCheckJapanTechnology18040.98.702.961042011
317NoWACULJapanSales & Marketing18040.96.672.27512010
318NoPureSoftwareIndiaTechnology17940.822.949.347502005
319NoSTEALIEN Inc.South KoreaCyber Security17940.73.831.43462014
320NoFirstCom SolutionsSingaporeTechnology17840.65.632.021582011
321NoERIMO LogisticsJapanTransport17640.316.975.851352015
322NoKindomTaiwanConstruction17540.2924.35326.288951979
323NoLINK-USJapanTechnology17439.91.270.44302014
324YesGood Com AssetJapanProperty17139.3242.7785.41952005
325NoEspoirerJapanTransport17039.25.762.03302015
326NoD LAB Co.,LtdSouth KoreaEducation16939.12.080.81592016
327YesARCHISOUND Corp.South KoreaTechnology16738.85.982.34112012
328NoFIREWORKSJapanFashion16738.86.842.44572013
329NoBrains TechnologyJapanTechnology16738.75.922.11382008
330NoRenewable JapanJapanEnergy16538.4208.6374.982112012
331NoKINLISERJapanConstruction16538.346.9216.871451997
332NoINTLOOPJapanManagement Consulting16438.367.0324.151452005
333NoVenturer Group Corporate SolutionsSingaporeSupport Services16438.23.221.22792013
334NoAccess EngineeringJapanIndustrial Goods16438.22.500.9052000
335NoYukon SkyJapanRetail16237.919.777.17552003
336NoNeebalIndiaTechnology16237.82.301.002002012
337NoIwamoto ShojiJapanProperty16137.725.779.40352006
338NowizionesysetmsSouth KoreaTechnology16137.73.031.21292014
339YesELMO SOFTWAREAustraliaTechnology16137.647.5620.335352002
340NoSiriusJapanPersonal & Household Goods16037.510.944.01112008
341NoTOSYOJapanRetail16037.43.571.31342010
342YesPolestar SolutionsIndiaTechnology15937.44.421.942652012
343NoSophicMalaysiaTechnology15937.316.916.386232007
344NoXref LimitedAustraliaTechnology15937.38.643.72602010
345NoTrikonAustraliaTelecoms15937.34.481.93232007
346NoSellerhubSouth KoreaEcommerce15937.27.292.94692012
347NoTreasure HunterSouth KoreaMedia15737.017.267.011332015
348NoDynamo6New ZealandTechnology15536.72.561.10222012
349YesRicksoftJapanTechnology15536.640.8715.26852005
350NoALLSMARTJapanTechnology15536.62.871.07272009
351NoXoxodayIndiaTechnology15536.637.1116.581902012
352NoBRIGHTUSJapanRetail15336.32.070.7882017
353NoMonoceptIndiaTechnology15336.24.431.992502012
354NoConeXagencyVietnamAdvertising15336.21.700.702002011
355NoTOOLBOXJapanArchitecture15236.111.404.30312013
356YesCB, LtdJapanManagement Consulting15236.09.013.41102015
357NoKids PowerJapanSupport Services15035.82.641.00502015
358YesSatellite OfficeAustraliaSupport Services15035.715.496.906232013
359NoA3JapanAdvertising15035.713.735.23432008
360NoGarnet KyotoJapanProperty15035.726.8710.23112009
361YesSuprieve HoldingsJapanSupport Services14935.645.5517.391,1562005
362NoSoleBrainJapanSales & Marketing14935.616.386.26362008
363YesMinkabuJapanFintech14735.238.9514.991632006
364NoInnovative SolutionsJapanManagement Consulting14735.24.301.66292014
365NoSOETaiwanTechnology14534.856.6522.461,7801996
366YesData Connect TechnologiesSingaporeTechnology14434.65.432.22522003
367YesQXY ResourcesSingaporeConstruction14434.639.6616.251032004
368NoLegaseedJapanManagement Consulting14434.66.852.68542013
369NoIO-STUDIO & VISIONSouth KoreaTechnology14134.12.020.87152016
370NoInfo-Tech Systems IntegratorsSingaporeTechnology14134.010.974.55662007
371YesWantedlyJapanTechnology14033.928.9811.501232010
372NoKaradanoteJapanTechnology13933.86.862.73302008
373NoHokkyokusei CorporationJapanProperty13933.734.4313.71102012
374NoGTPLIndiaMedia13833.4236.92113.477142006
375NoCygnus TrustJapanSales & Marketing13733.417.356.96492011
376NoBrainvireIndiaTechnology13733.34.091.974292012
377YesInfoBeansIndiaTechnology13733.226.2412.629742011
378YesLocal DigitalAustraliaAdvertising13633.21.900.90212015
379YesXilnexMalaysiaTechnology13533.03.671.531182007
380NoToothlife Co., Ltd.South KoreaMedia13533.04.181.85392014
381YesCapital NumbersIndiaTechnology13532.96.343.074162012
382NoThe Missing LinkAustraliaTechnology13532.923.4011.11601997
383YesAEM HoldingsSingaporeTechnology13432.8376.13160.496451992
384NohyperXchangeIndiaRetail13432.73.011.47552016
385YesBeston Global Food CompanyAustraliaFood & Beverage13332.677.4036.992332015
386NoVision ConsultingJapanManagement Consulting13232.435.3714.514012014
387NoKanazawa JitsugyouJapanTransport13132.13.061.26382006
388YesQBurstIndiaTechnology13032.044.9122.201,8722004
389NoAD EfficiencySouth KoreaAdvertising13032.015.487.021202012
390YesMajor-Power TechnologyTaiwanIndustrial Goods12931.99.734.12422011
391YesMukkaIndiaAgricultural Commodities12831.681.4940.701312010
392YesApparentAustraliaAdvertising12731.514.747.221142008
393NoERGOS The GrainBankIndiaTechnology12631.35.802.923002012
394YesAthena InfonomicsIndiaManagement Consulting12631.32.901.46472010
395NoAntecTaiwanGames industry12531.058.0625.11261986
396NoDFITaiwanIndustrial Goods12531.0282.24122.107251981
397NoNividousIndiaTechnology12430.96.133.111852011
398NoHIGHRESOJapanTechnology12230.56.792.90122007
399NoSRISingaporeProperty12130.436.9016.65122016
400NoDoctor QubeJapanTechnology12130.314.506.251422001
401NoDONUTSJapanTechnology12130.2125.8654.295432007
402NotriplaJapanTravel & Leisure12130.22.761.19702015
403YesUnion GasSingaporeEnergy12030.062.4728.382562016
404NoiideasSingaporeSupport Services12030.01.150.5252016
405NoThe News LensTaiwanMedia11929.82.901.291022013
406NoFurlencoIndiaEcommerce11929.811.385.923292012
407NoSquare YardsIndiaProperty11929.847.2324.575,3002014
408NoPeppermint InnovationAustraliaFintech11829.71.330.68202015
409NoBlue Mark ConfidenceJapanSales & Marketing11729.55.672.49422015
410NoBrightflexiIndiaIndustrial Goods11629.325.3713.364362015
411NoHasiru Dala InnovationsIndiaWaste management & recycling11529.21.540.811202015
412NoTranserve TechnologiesIndiaTechnology11529.11.370.73362009
413NoDocodoorJapanAdvertising11529.11.610.71352011
414YesCrowd BankJapanFinancial Services11529.020.619.14302014
415YesFibergateJapanTelecoms11328.879.5335.462212000
416NoDelight RoomSouth KoreaHealth11328.64.752.33162013
417NoTriple A TechnologiesSingaporeFintech11228.61.980.9392017
418YesHotglueAustraliaAdvertising11228.45.222.75272010
419NoTuamanIndiaConstruction11128.257.6631.126172005
420NoNanofilm Technologies InternationalSingaporeTechnology11128.2158.2575.033,1881999
421NoMastekIndiaTechnology11128.2232.37125.493,7921982
422YesAJ2SingaporeInteriors11128.24.111.95312014
423YesMlion CorporationSingaporeIndustrial Goods11028.166.5231.65262011
424YesRegen PowerAustraliaEnergy11028.015.438.20202003
425YesRewind NetworksSingaporeMedia10927.86.222.98112012
426NoFlectJapanTechnology10827.623.9710.981492005
427NoV Wonderland ExtensionSouth KoreaAdvertising10827.61.700.85202006
428YesDynaconsIndiaTechnology10727.458.8332.361,0261995
429NoTPMNSouth KoreaAdvertising10727.47.433.76122013
430NoD&V PhilippinesPhilippinesSupport Services10627.37.133.403522012
431NoTrukkyIndiaTransport10627.21.921.06282015
432NoMaruti TechlabsIndiaTechnology10627.22.651.461212009
433YesTransACTJapanSupport Services10527.13.331.54552013
434YesSource CentralAustraliaTechnology10527.010.495.71322005
435NoOasis FertilityIndiaHealth10426.99.205.123182009
436NoJayshree GrainIndiaFood & Beverage10326.720.0211.202002014
437NoLogpressoSouth KoreaCyber Security10326.72.981.53402013
438NoIndegeneIndiaSupport Services10326.7130.4072.963,2381998
439NoPT&TPhilippinesTelecoms10326.78.233.982321962
440NoCHSIPhilippinesHealth10326.55.682.765542005
441NoTPIsoftware CorporationTaiwanTechnology10126.114.487.024712005
442NoRe BlastJapanRetail10026.02.561.22182011
443NoSin Chwee Mini MartSingaporeRetail10026.01.210.6071990
444YesArabian Petroleum LimitedIndiaIndustrial Goods9825.714.858.511042009
445NoBusiness Edge Personnel ServicesSingaporeSupport Services9825.726.8213.50151996
446YesSPC LifesciencesIndiaPharmaceuticals9825.617.9410.301502005
447NoOnco-Life HospitalsIndiaHealth9825.63.822.191642015
448NoMoney3AustraliaFintech9725.499.8656.423002005
449YesNuffield DentalSingaporeHealth9625.110.685.45902014
450NoClixlogicPhilippinesTechnology9524.82.001.01462005
451YesLoadstar CapitalJapanProperty9324.5159.0278.40582012
452NoEXTREME Co.,Ltd.JapanTechnology9124.158.3529.084002005
453NoAccess Healthcare ServicesIndiaSupport Services9023.9140.1683.7714,2302011
454NoFirefly Networks LimitedIndiaTelecoms9023.82.001.20332014
455YesE-Tech Building ServicesSingaporeSupport Services8923.710.885.742001990
456NoShizen EnergyJapanEnergy8923.750.2025.261312011
457NoOKKAMIThailandTechnology8923.71.210.64302016
458NoSTA. LUCIAPhilippinesProperty8923.6119.2562.191602007
459YesNexon PaintsIndiaPersonal & Household Goods8923.69.015.431752008
460NoGSILSouth KoreaSupport Services8723.31.680.93302013
461NoMedi BanxJapanMedia8723.22.291.17142010
462NoSGS LogisticsAustraliaTransport8522.88.605.1772015
463YesTop ReformJapanArchitecture8522.84.622.38172015
464NoJ Sol MedicalJapanHealth8522.74.642.39212016
465YesIzmo Ltd.IndiaTechnology8422.615.679.672971995
466NoSHARE HOUSE 180°JapanProperty8322.32.811.46202014
467NoForest OneJapanHealth8222.017.999.42422006
468NoHGIELIndiaConstruction8122.0341.10213.871,9652003
469NoAPRO-Asian ProtectionSingaporeSupport Services8122.053.1829.291,5601985
470NoBIO-SCIENCE MARKETINGMalaysiaHealth8121.93.702.00341996
471YesSequretekIndiaCyber Security8121.83.232.033762013
472YesBrilliant PolymersIndiaChemicals8021.849.1030.961122011
473NoSGRIndiaPharmaceuticals8021.76.624.19791995
474NoRareJobJapanEducation8021.649.9426.478162007
475NoCHAISouth KoreaAdvertising7921.528.9516.832702004
476YesProteaJapanBeauty7921.475.9040.401291991
477NoAckamaNew ZealandTechnology7921.33.652.24452010
478YesGushcloud Talent AgencySingaporeSales & Marketing7921.317.9610.052002011
479YesBoustead SingaporeSingaporeIndustrial Goods7821.2496.98278.881,1141828
480NoWSESingaporeEnergy7821.11.640.92132016
481YesSuppleAustraliaAdvertising7721.04.853.05472012
482No47 HoldingsJapanManagement Consulting7620.817.669.53782015
483NoNissouJapanConstruction7620.725.5613.83451988
484NoSMTP2GONew ZealandTechnology7620.72.871.79302006
485NoMosChipIndiaTechnology7620.714.269.246001999
486YesKitanotatsujin CorporationJapanChemicals7520.586.8247.181762000
487YesBluconnectionSingaporeChemicals7520.531.0217.7192009
488YesProperty Data BankJapanTechnology7520.420.2911.05682000
489YesMaveric SystemsIndiaFintech7420.251.1533.481,9472000
490YesiFAST CorporationSingaporeFintech7420.262.2335.819702000
491NoOnkochishinJapanTravel & Leisure7320.11.260.691252011
492NoNeurocuticalsJapanTechnology7320.05.783.18302009
493NoEverEdge GlobalNew ZealandManagement Consulting7320.02.501.59182008
494NoActivate InteractiveSingaporeTechnology7119.78.424.911071997
495NoChina BankPhilippinesFinancial Services7019.5883.72510.44101920
496NoE2E Research ServicesIndiaMedia6919.12.671.801222011
497NoTakeuchi ConstructionJapanArchitecture6718.746.4026.38651990
498YesHighland FoodsSouth KoreaFood & Beverage6618.4496.95312.44701999
499NoAccelyIndiaTechnology6518.31.350.93712001
500NoLateral KidsJapanEducation6518.120.8712.066212013
* Companies marked with an asterisk had less than 12 months of revenue in the 2017 financial year, but still passed $100,000 revenue. ** Companies marked with a double asterisk have been acquired since the end of the relevant timeframe. *** Companies marked with a triple asterisk have their revenue for 2017 annualised due to a change of fiscal year

Methodology

Asia-Pacific High-Growth Companies 2022 is a list of the 500 companies in the Asia-Pacific region that achieved the highest percentage growth in revenues between 2017 and 2020.

The ranking was created through a complex procedure. Although the search was extensive, the ranking does not claim to be complete, as some companies did not want to make their figures public or did not participate for other reasons.

Through research in company databases and other public sources, Statista identified tens of thousands of companies in the Asia-Pacific region as potential candidates for the ranking. These businesses were invited to participate in the competition by post, email and telephone.

The project was also advertised online and in print, allowing all eligible companies to register via the websites created by Statista and the Financial Times. In addition, Statista researched exchange-listed high-profile companies from Taiwan to make the list more comprehensive.

The application phase ran from June 2021 to February 2022. The submitted revenue figures had to be certified by the company’s CFO, CEO, or a member of its executive committee.

Criteria for inclusion

To be included in the list of fast-growing companies in the Asia-Pacific region, a company had to meet the following criteria:

  • Revenue of at least $100,000 generated in 2017 (or currency value equivalent as of December 31 2017);

  • Revenue of at least $1m generated in 2020 (or currency value equivalent as of December 31 2020);

  • An independent company (not a subsidiary or branch office of any kind);

  • Headquartered in one of these 13 territories in the Asia-Pacific region — Australia, Hong Kong, India, Indonesia, Japan, Malaysia, New Zealand, Philippines, Singapore, South Korea, Taiwan, Thailand and Vietnam;

  • Revenue growth between 2017 and 2020 that was primarily organic (ie “internally” generated).

Calculation of growth rates

The calculation of growth rates is based on the revenue figures submitted by the companies in their respective national currencies. For better comparability in the ranking, the revenues were converted into US dollars. The exchange rates of December 31 2017 and 2020, respectively, were used for this purpose.

The compound annual growth rate (CAGR) was calculated as follows:

( (revenue2020 / revenue2017 )^(1/3)) — 1 = CAGR

The absolute growth between 2017 and 2020 was calculated as follows:

(revenue2020 / revenue2017) — 1 = Growth rate

Evaluation and quality assurance

All data reported by the companies was processed and checked by Statista. Missing data entries (employee numbers, address data, etc) were researched in detail. Companies that did not fulfil the criteria for inclusion in the ranking were deleted.

The minimum average annual growth rate required to be included in the ranking this year was 18.1 per cent.

Copyright The Financial Times Limited 2024. All rights reserved.
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