This is the growth strategy presentation of Micware Co. Ltd., a Japanese auto software company, subsidiary of Toyota and Honda:
[https://www.ir-micware.com/static-files/f4860a2d-ccfe-4dea-9b63-a223abb5c676](https://www.ir-micware.com/static-files/f4860a2d-ccfe-4dea-9b63-a223abb5c676)
MWC is not a development stage company, they already has a EV/Sales below 1, EV/EBITDA below 5, P/E around 8.