Code	Sector	Market
409A	Food Products	Prime

Date of listing approval	2025/08/21
Expected Date	2025/09/25
Lead Underwriter	Nomura Securities Co., Ltd
Description

Listed Shares(total)	31,697,600
Trading Unit	100
New Shares	0
Existing Shares	31,697,600（incl. O.A.）
Shares Outstanding	PreIPO 40,813,400.00
	PostIPO 40,813,400.00
Paid Up Capital	PreIPO Y378,250,000
	PostIPO Y378,250,000
Expected Pricing Date	2025/09/08
Book Building Start	2025/09/09
Book Building End	2025/09/12
Fix Date	2025/09/16
Offering Starts	2025/09/17
Offering Ends	2025/09/22
Expect Pricing	Y800-Y850
Notional PER (based on previous period)	5.97-6.35
Notional PER(based on results forecast)	9.88-10.49
Offering Price	Y850
Offering Price PER (based on previous period)	9.88-10.49
Offering Price PBR (based on previous period)	1.83
Offering Price PER (based on results forecast)	10.49
Use of Funds Raised

Units:Y1,000

Fiscal Year End:2023/03
	Consolidated	Non-consolidated
Revenue	-	21,793,000
Current Profit	-	2,689,000
Net Profit	-	6,551,000
Net Assets	-	15,669,000

Fiscal Year End:2024/03
	Consolidated	Non-consolidated
Revenue	26,009,000	24,960,000
Current Profit	2,818,000	3,120,000
Net Profit	4,649,000	4,634,000
Net Assets	25,013,000	18,738,000

Fiscal Year End:2025/03
	Consolidated	Non-consolidated
Revenue	28,866,000	27,863,000
Current Profit	3,447,000	4,256,000
Net Profit	7,301,000	5,658,000
Net Assets	18,968,000	11,050,000

Recent Quarter 2025/06
	Consolidated	Non-consolidated
Revenue	7,045,000	-
Current Profit	1,084,000	-
Net Profit	1,488,000	-
Net Assets	16,783,000	-

Results Forecast 2026/03
	Consolidated	Non-consolidated
Revenue	30,106,000	-
Current Profit	3,788,000	-
Net Profit	3,306,000	-
Net Assets	-	-

Per Share Units:Y1

Fiscal Year End:2023/03
	Consolidated	Non-consolidated
Dividend	29.00
Net Earning	-	-
Equity	57.31	287.23

Fiscal Year End:2024/03
	Consolidated	Non-consolidated
Dividend	43.00
Net Earning	85.25	458.32
Equity	84.96	343.32

Fiscal Year End:2025/03
	Consolidated	Non-consolidated
Dividend	90.00
Net Earning	133.90	464.61
Equity	103.78	270.62

Fiscal Year End:Results Forecast 2026/03
	Consolidated	Non-consolidated
Dividend	40.00
Net Earning	81.01	-
Equity	-	-

■Over allotment (3,250,800→4,134,400)

Name	Address

Allocation	Underwriter	Tel
0%	Nomura	03-3211-1811
55.2%	Nomura Securities Co., Ltd	03-3211-1811
32.2%	Mizuho Securities Co., Ltd	03-5208-3210
11.3%	SMBC Nikko Securities Inc.	03-5644-3111
0.5%	Rakuten Securities Holdings, Inc.	03-6406-2681
0.5%	SBI SECURITIES Co.,Ltd.	03-5562-7210
0.3%	Matsui Securities Co., Ltd	03-5216-0606