Code	Sector	Market
338A	Communications	Growth

Date of listing approval	2025/02/21
Expected Date	2025/03/27
Lead Underwriter	OKASAN SECURITIES GROUP INC
Description

Listed Shares(total)	331,200
Trading Unit	100
New Shares	240,000
Existing Shares	91,200（incl. O.A.）
Shares Outstanding	PreIPO 1,072,800.00
	PostIPO 1,312,800.00
Paid Up Capital	PreIPO Y219,650,000
	PostIPO Y394,082,000
Expected Pricing Date	2025/03/06
Book Building Start	2025/03/10
Book Building End	2025/03/14
Fix Date	2025/03/17
Offering Starts	2025/03/18
Offering Ends	2025/03/24
Expect Pricing	Y1,500-Y1,580
Notional PER (based on previous period)	20.25-21.33
Notional PER(based on results forecast)	11.84-12.48
Offering Price	Y1,580
Offering Price PER (based on previous period)	11.84-12.48
Offering Price PBR (based on previous period)	-2.81
Offering Price PER (based on results forecast)	12.48
Use of Funds Raised

Units:Y1,000

Fiscal Year End:2021/12
	Consolidated	Non-consolidated
Revenue	-	208,962
Current Profit	-	-49,996
Net Profit	-	-50,176
Net Assets	-	-40,420

Fiscal Year End:2022/12
	Consolidated	Non-consolidated
Revenue	-	232,282
Current Profit	-	-113,429
Net Profit	-	-115,236
Net Assets	-	-155,657

Fiscal Year End:2023/12
	Consolidated	Non-consolidated
Revenue	-	440,791
Current Profit	-	56,937
Net Profit	-	72,889
Net Assets	-	156,809

Recent Quarter 2024/06
	Consolidated	Non-consolidated
Revenue	-	402,128
Current Profit	-	139,354
Net Profit	-	102,650
Net Assets	-	259,460

Results Forecast 2025/12
	Consolidated	Non-consolidated
Revenue	-	850,000
Current Profit	-	145,000
Net Profit	-	159,000
Net Assets	-	-

Per Share Units:Y1

Fiscal Year End:2021/12
	Consolidated	Non-consolidated
Dividend	0.00
Net Earning	-	-
Equity	-52.23	-859.88

Fiscal Year End:2022/12
	Consolidated	Non-consolidated
Dividend	0.00
Net Earning	-	-
Equity	-117.88	-977.76

Fiscal Year End:2023/12
	Consolidated	Non-consolidated
Dividend	0.00
Net Earning	-	-
Equity	74.09	-563.20

Fiscal Year End:Interim Results 2024/06
	Consolidated	Non-consolidated
Dividend
Net Earning	-	96.59
Equity	-	-

Fiscal Year End:Results Forecast 2025/12
	Consolidated	Non-consolidated
Dividend
Net Earning	-	126.65
Equity	-	-

■Over allotment(43,200)

Name	Address

Allocation	Underwriter	Tel
0%	Nomura	03-3211-1811
90%	OKASAN SECURITIES GROUP INC	03-3272-2211
4%	SBI SECURITIES Co.,Ltd.	03-5562-7210
2%	Matsui Securities Co., Ltd	03-5216-0606
1%	AIZAWA SECURITIES GROUP CO., LTD	03-3272-3118
1%	IwaiCosmo Securities Co.,Ltd.	06-6229-2890
1%	Monex, Inc	03-4323-3800
1%	Musashi Securities Co.,Ltd	048-644-0634