Code	Sector	Market
350A	Electricity & Gas	Growth

Date of listing approval	2025/03/18
Expected Date	2025/04/22
Lead Underwriter	Daiwa Securities Co. Ltd
Description

Listed Shares(total)	2,101,000
Trading Unit	100
New Shares	250,000
Existing Shares	1,851,000（incl. O.A.）
Shares Outstanding	PreIPO 5,933,300.00
	PostIPO 6,183,300.00
Paid Up Capital	PreIPO Y50,000,000
	PostIPO Y569,800,000
Expected Pricing Date	2025/04/04
Book Building Start	2025/04/07
Book Building End	2025/04/11
Fix Date	2025/04/14
Offering Starts	2025/04/15
Offering Ends	2025/04/18
Expect Pricing	Y4,400-Y4,570
Notional PER (based on previous period)	26.85-27.88
Notional PER(based on results forecast)	17.17-17.84
Offering Price	Y4,520
Offering Price PER (based on previous period)	17.17-17.84
Offering Price PBR (based on previous period)	1,078.76
Offering Price PER (based on results forecast)	17.64
Use of Funds Raised

Units:Y1,000

Fiscal Year End:2022/07
	Consolidated	Non-consolidated
Revenue	-	1,210,109
Current Profit	-	36,111
Net Profit	-	26,264
Net Assets	-	2,598,874

Fiscal Year End:2023/07
	Consolidated	Non-consolidated
Revenue	-	1,691,183
Current Profit	-	443,054
Net Profit	-	657,034
Net Assets	-	3,255,908

Fiscal Year End:2024/07
	Consolidated	Non-consolidated
Revenue	-	3,515,034
Current Profit	-	1,253,372
Net Profit	-	972,446
Net Assets	-	4,228,354

Recent Quarter 2025/01
	Consolidated	Non-consolidated
Revenue	3,308,189	-
Current Profit	1,660,357	-
Net Profit	1,185,234	-
Net Assets	5,413,428	-

Results Forecast 2025/07
	Consolidated	Non-consolidated
Revenue	5,587,000	-
Current Profit	2,186,000	-
Net Profit	1,556,000	-
Net Assets	-	-

Per Share Units:Y1

Fiscal Year End:2022/07
	Consolidated	Non-consolidated
Dividend	0.00
Net Earning	-	-
Equity	4.69	-270.44

Fiscal Year End:2023/07
	Consolidated	Non-consolidated
Dividend	0.00
Net Earning	-	-
Equity	110.74	-159.70

Fiscal Year End:2024/07
	Consolidated	Non-consolidated
Dividend	0.00
Net Earning	-	-
Equity	163.90	4.19

Fiscal Year End:Interim Results 2025/01
	Consolidated	Non-consolidated
Dividend
Net Earning	199.76	-
Equity	-	-

Fiscal Year End:Results Forecast 2025/07
	Consolidated	Non-consolidated
Dividend
Net Earning	256.20	-
Equity	-	-

■Over allotment(274,000)

Name	Address

Allocation	Underwriter	Tel
0%	Nomura	03-3211-1811
90%	Daiwa Securities Co. Ltd	03-5555-2111
2.5%	Mizuho Securities Co., Ltd	03-5208-3210
2%	SMBC Nikko Securities Inc.	03-5644-3111
1.5%	SBI SECURITIES Co.,Ltd.	03-5562-7210
1.5%	Tokai Tokyo Securities Co., Ltd	03-3566-8811
1%	Rakuten Securities Holdings, Inc.	03-6406-2681
0.5%	Matsui Securities Co., Ltd	03-5216-0606
0.5%	Monex, Inc	03-4323-3800
0.1%	OKASAN SECURITIES GROUP INC	03-3272-2211
0.1%	KYOKUTO SECURITIES CO.,LTD	03-3667-9171
0.1%	Marusan Securities Co., Ltd	03-3272-5211
0.1%	Mito Securities Co., Ltd	03-6739-0310