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Future Value Theory : A New Management Theory for Value Creation in the Age of AI - Naoki Kadowaki

Future Value Theory

A New Management Theory for Value Creation in the Age of AI

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Published: 14th July 2026

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Enterprise value is born from expectations of the future.

In an age when AI democratizes knowledge, analysis, and execution, what should companies compete on? This book finds the answer in Future Value — the expectation of the future that society shares — and systematizes the co-evolution of enterprises, capital, management, and society through five elements: Purpose, Capability, Capital, Ecosystem, and Continuity.

How is enterprise value created? What is capital? What is leadership? And what role should humans play in the age of AI? Through fourteen chapters and a single question — "Does it create Future Value?" — this book presents the first principles of management in the age of AI.

The theoretical starting point of the Future Value Theory series, followed by Book 2, Future Value Theory Q&A, and Book 3, Enterprise Redefinition.

The future is not something we predict. It is something we create.

Naoki Kadowaki is the founder and CEO of VURA Capital Innovation Holdings. After two decades in management, AI, and innovation at IBM and serving as CEO of private-equity portfolio companies, he teaches AI and management at Keio Business School.

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