Code	Sector	Market
418A	Communications	Next

Date of listing approval	2025/09/02
Expected Date	2025/10/07
Lead Underwriter	J Trust Global Securities Co., Ltd.
Description

Listed Shares(total)	412,400
Trading Unit	100
New Shares	30,000
Existing Shares	382,400（incl. O.A.）
Shares Outstanding	PreIPO 2,060,770.00
	PostIPO 2,090,770.00
Paid Up Capital	PreIPO Y61,000,000
	PostIPO Y77,560,000
Expected Pricing Date	2025/09/16
Book Building Start	2025/09/18
Book Building End	2025/09/25
Fix Date	2025/09/26
Offering Starts	2025/09/29
Offering Ends	2025/10/02
Expect Pricing	Y1,100-Y1,200
Notional PER (based on previous period)	34.69-37.84
Notional PER(based on results forecast)	13.02-14.20
Offering Price	Y1,200
Offering Price PER (based on previous period)	13.02-14.20
Offering Price PBR (based on previous period)	-22.46
Offering Price PER (based on results forecast)	14.20
Use of Funds Raised

Units:Y1,000

Fiscal Year End:2022/11
	Consolidated	Non-consolidated
Revenue	-	178,786
Current Profit	-	-20,333
Net Profit	-	-20,513
Net Assets	-	-7,243

Fiscal Year End:2023/11
	Consolidated	Non-consolidated
Revenue	-	333,842
Current Profit	-	39,098
Net Profit	-	46,187
Net Assets	-	38,943

Fiscal Year End:2024/11
	Consolidated	Non-consolidated
Revenue	-	598,639
Current Profit	-	50,062
Net Profit	-	64,731
Net Assets	-	103,674

Recent Quarter 2025/05
	Consolidated	Non-consolidated
Revenue	-	697,395
Current Profit	-	109,991
Net Profit	-	111,048
Net Assets	-	214,723

Results Forecast 2025/11
	Consolidated	Non-consolidated
Revenue	-	1,413,000
Current Profit	-	171,000
Net Profit	-	174,000
Net Assets	-	-

Per Share Units:Y1

Fiscal Year End:2022/11
	Consolidated	Non-consolidated
Dividend	0.00
Net Earning	-	-
Equity	-10.13	-133.88

Fiscal Year End:2023/11
	Consolidated	Non-consolidated
Dividend	0.00
Net Earning	-	-
Equity	22.81	-106.32

Fiscal Year End:2024/11
	Consolidated	Non-consolidated
Dividend	0.00
Net Earning	-	-
Equity	31.71	-53.42

Fiscal Year End:Interim Results 2025/05
	Consolidated	Non-consolidated
Dividend
Net Earning	-	53.89
Equity	-	-

Fiscal Year End:Results Forecast 2025/11
	Consolidated	Non-consolidated
Dividend
Net Earning	-	84.49
Equity	-	-

■Over allotment (50,000)

Name	Address

Allocation	Underwriter	Tel
0%	Nomura	03-3211-1811
85.9%	J Trust Global Securities Co., Ltd.	03-4560-0200
5%	SBI SECURITIES Co.,Ltd.	03-5562-7210
3%	Rakuten Securities Holdings, Inc.	03-6406-2681
2%	OKASAN SECURITIES GROUP INC	03-3272-2211
2%	Monex, Inc	03-4323-3800
1%	Marusan Securities Co., Ltd	03-3272-5211
1%	Akatsuki Securities,Inc	03-5641-7800