Code	Sector	Market
421A	Service	Growth

Date of listing approval	2025/09/04
Expected Date	2025/10/06
Lead Underwriter	Daiwa Securities Co. Ltd
Description

Listed Shares(total)	2,328,700
Trading Unit	100
New Shares	50,000
Existing Shares	2,278,700（incl. O.A.）
Shares Outstanding	PreIPO 8,050,000.00
	PostIPO 8,100,000.00
Paid Up Capital	PreIPO Y20,500,000
	PostIPO Y68,340,000
Expected Pricing Date	2025/09/18
Book Building Start	2025/09/19
Book Building End	2025/09/25
Fix Date	2025/09/26
Offering Starts	2025/09/29
Offering Ends	2025/10/02
Expect Pricing	Y1,990-Y2,080
Notional PER (based on previous period)	27.82-29.08
Notional PER(based on results forecast)	15.93-16.65
Offering Price	Y2,080
Offering Price PER (based on previous period)	15.93-16.65
Offering Price PBR (based on previous period)	8.93
Offering Price PER (based on results forecast)	16.65
Use of Funds Raised

Units:Y1,000

Fiscal Year End:2022/12
	Consolidated	Non-consolidated
Revenue	-	2,670,836
Current Profit	-	406,036
Net Profit	-	229,591
Net Assets	-	964,109

Fiscal Year End:2023/12
	Consolidated	Non-consolidated
Revenue	2,323,483	2,323,483
Current Profit	511,567	513,406
Net Profit	335,818	337,586
Net Assets	1,309,748	1,301,696

Fiscal Year End:2024/12
	Consolidated	Non-consolidated
Revenue	2,387,925	2,274,728
Current Profit	864,128	770,555
Net Profit	575,761	512,991
Net Assets	1,875,689	1,814,687

Recent Quarter 2025/06
	Consolidated	Non-consolidated
Revenue	1,798,620	-
Current Profit	968,256	-
Net Profit	633,164	-
Net Assets	2,513,398	-

Results Forecast 2025/12
	Consolidated	Non-consolidated
Revenue	3,500,000	-
Current Profit	1,540,000	-
Net Profit	1,007,000	-
Net Assets	-	-

Per Share Units:Y1

Fiscal Year End:2022/12
	Consolidated	Non-consolidated
Dividend	0.00
Net Earning	-	-
Equity	28.52	119.77

Fiscal Year End:2023/12
	Consolidated	Non-consolidated
Dividend	0.00
Net Earning	41.72	161.48
Equity	41.94	161.70

Fiscal Year End:2024/12
	Consolidated	Non-consolidated
Dividend	0.00
Net Earning	71.52	233.00
Equity	63.73	225.43

Fiscal Year End:Interim Results 2025/06
	Consolidated	Non-consolidated
Dividend
Net Earning	78.65	-
Equity	-	-

Fiscal Year End:Results Forecast 2025/12
	Consolidated	Non-consolidated
Dividend	0.00
Net Earning	124.91	-
Equity	-	-

■Over allotment (303,700)

Name	Address

Allocation	Underwriter	Tel
0%	Nomura	03-3211-1811
85%	Daiwa Securities Co. Ltd	03-5555-2111
10%	Mizuho Securities Co., Ltd	03-5208-3210
1.5%	Rakuten Securities Holdings, Inc.	03-6406-2681
1%	SBI SECURITIES Co.,Ltd.	03-5562-7210
1%	Mitsubishi UFJ Morgan Stanley Securities Co., Ltd.	03-6213-8500
0.2%	IwaiCosmo Securities Co.,Ltd.	06-6229-2890
0.2%	OKASAN SECURITIES GROUP INC	03-3272-2211
0.2%	Tokai Tokyo Securities Co., Ltd	03-3566-8811
0.2%	Matsui Securities Co., Ltd	03-5216-0606
0.2%	Monex, Inc	03-4323-3800
0.1%	Akatsuki Securities,Inc	03-5641-7800
0.1%	KYOKUTO SECURITIES CO.,LTD	03-3667-9171
0.1%	TOYO SECURITIES CO.,LTD	03-5117-1040
0.1%	Marusan Securities Co., Ltd	03-3272-5211
0.1%	Mito Securities Co., Ltd	03-6739-0310