Code	Sector	Market
341A	Construction	Growth

Date of listing approval	2025/02/25
Expected Date	2025/03/28
Lead Underwriter	SMBC Nikko Securities Inc.
Description

Listed Shares(total)	4,255,000
Trading Unit	100
New Shares	1,000,000
Existing Shares	3,255,000（incl. O.A.）
Shares Outstanding	PreIPO 12,026,600.00
	PostIPO 13,026,600.00
Paid Up Capital	PreIPO Y20,000,000
	PostIPO Y295,490,320
Expected Pricing Date	2025/03/11
Book Building Start	2025/03/12
Book Building End	2025/03/18
Fix Date	2025/03/19
Offering Starts	2025/03/21
Offering Ends	2025/03/26
Expect Pricing	Y700-Y730
Notional PER (based on previous period)	-45.87--47.84
Notional PER(based on results forecast)	51.47-53.68
Offering Price	Y730
Offering Price PER (based on previous period)	51.47-53.68
Offering Price PBR (based on previous period)	24.47
Offering Price PER (based on results forecast)	53.68
Use of Funds Raised

Units:Y1,000

Fiscal Year End:2022/03
	Consolidated	Non-consolidated
Revenue	-	1,046,423
Current Profit	-	-558,174
Net Profit	-	-898,111
Net Assets	-	-111,365

Fiscal Year End:2023/03
	Consolidated	Non-consolidated
Revenue	1,119,953	1,117,392
Current Profit	-117,877	-113,650
Net Profit	-119,196	-114,846
Net Assets	-215,706	-226,137

Fiscal Year End:2024/03
	Consolidated	Non-consolidated
Revenue	-	1,095,495
Current Profit	-	-157,578
Net Profit	-	-158,469
Net Assets	-	328,459

Recent Quarter 2024/09
	Consolidated	Non-consolidated
Revenue	-	921,298
Current Profit	-	119,980
Net Profit	-	162,720
Net Assets	-	1,200,768

Results Forecast 2025/03
	Consolidated	Non-consolidated
Revenue	-	1,891,000
Current Profit	-	165,000
Net Profit	-	161,000
Net Assets	-	-

Per Share Units:Y1

Fiscal Year End:2022/03
	Consolidated	Non-consolidated
Dividend	0.00
Net Earning	-	-
Equity	-91.45	-11.14

Fiscal Year End:2023/03
	Consolidated	Non-consolidated
Dividend	0.00
Net Earning	-11.93	-21.90
Equity	-11.49	-22.63

Fiscal Year End:2024/03
	Consolidated	Non-consolidated
Dividend	0.00
Net Earning	-	-
Equity	-15.26	29.83

Fiscal Year End:Interim Results 2024/09
	Consolidated	Non-consolidated
Dividend
Net Earning	-	13.96
Equity	-	-

Fiscal Year End:Results Forecast 2025/03
	Consolidated	Non-consolidated
Dividend	0.00
Net Earning	-	13.60
Equity	-	-

■Over allotment(555,000)

Name	Address

Allocation	Underwriter	Tel
0%	Nomura	03-3211-1811
94%	SMBC Nikko Securities Inc.	03-5644-3111
2%	Daiwa Securities Co. Ltd	03-5555-2111
2%	Mizuho Securities Co., Ltd	03-5208-3210
0.7%	SBI SECURITIES Co.,Ltd.	03-5562-7210
0.7%	Matsui Securities Co., Ltd	03-5216-0606
0.5%	Monex, Inc	03-4323-3800