Code	Sector	Market
423A	Wholesale	Standard

Date of listing approval	2025/09/05
Expected Date	2025/10/15
Lead Underwriter	Mizuho Securities Co., Ltd
Description

Listed Shares(total)	4,906,300
Trading Unit	100
New Shares	1,500,700
Existing Shares	3,405,600（incl. O.A.）
Shares Outstanding	PreIPO 29,900,000.00
	PostIPO 31,369,000.00
Paid Up Capital	PreIPO Y2,677,000,000
	PostIPO Y2,820,932,620
Expected Pricing Date	2025/09/25
Book Building Start	2025/09/29
Book Building End	2025/10/03
Fix Date	2025/10/06
Offering Starts	2025/10/07
Offering Ends	2025/10/10
Expect Pricing	Y209-Y213
Notional PER (based on previous period)	8.19-8.35
Notional PER(based on results forecast)	7.64-7.79
Offering Price	Y213
Offering Price PER (based on previous period)	7.64-7.79
Offering Price PBR (based on previous period)	0.56
Offering Price PER (based on results forecast)	7.79
Use of Funds Raised

Units:Y1,000

Fiscal Year End:2022/09
	Consolidated	Non-consolidated
Revenue	33,945,000	33,239,000
Current Profit	1,046,000	975,000
Net Profit	718,000	701,000
Net Assets	9,865,000	9,253,000

Fiscal Year End:2023/09
	Consolidated	Non-consolidated
Revenue	33,021,000	32,114,000
Current Profit	1,110,000	968,000
Net Profit	809,000	687,000
Net Assets	10,666,000	9,911,000

Fiscal Year End:2024/09
	Consolidated	Non-consolidated
Revenue	34,894,000	33,944,000
Current Profit	1,168,000	979,000
Net Profit	762,000	666,000
Net Assets	11,424,000	10,509,000

Recent Quarter 2025/03
	Consolidated	Non-consolidated
Revenue	20,849,000	-
Current Profit	1,101,000	-
Net Profit	758,000	-
Net Assets	12,075,000	-

Results Forecast 2025/09
	Consolidated	Non-consolidated
Revenue	36,555,000	-
Current Profit	1,212,000	-
Net Profit	816,000	-
Net Assets	-	-

Per Share Units:Y1

Fiscal Year End:2022/09
	Consolidated	Non-consolidated
Dividend	2.00
Net Earning	24.06	330.26
Equity	23.47	309.77

Fiscal Year End:2023/09
	Consolidated	Non-consolidated
Dividend	3.00
Net Earning	27.11	357.11
Equity	23.01	331.85

Fiscal Year End:2024/09
	Consolidated	Non-consolidated
Dividend	3.00
Net Earning	25.52	382.49
Equity	22.32	351.86

Fiscal Year End:Interim Results 2025/03
	Consolidated	Non-consolidated
Dividend
Net Earning	25.40	-
Equity	-	-

Fiscal Year End:Results Forecast 2025/09
	Consolidated	Non-consolidated
Dividend	5.00
Net Earning	27.35	-
Equity	-	-

■Over allotment (639,900)

Name	Address

Allocation	Underwriter	Tel
0%	Nomura	03-3211-1811
88%	Mizuho Securities Co., Ltd	03-5208-3210
3%	SBI SECURITIES Co.,Ltd.	03-5562-7210
2.5%	OKASAN SECURITIES GROUP INC	03-3272-2211
2%	IwaiCosmo Securities Co.,Ltd.	06-6229-2890
2%	Rakuten Securities Holdings, Inc.	03-6406-2681
0.5%	Hirota	06-6201-1181
0.5%	Matsui Securities Co., Ltd	03-5216-0606
0.5%	Monex, Inc	03-4323-3800
0.5%	Marusan Securities Co., Ltd	03-3272-5211
0.5%	Mito Securities Co., Ltd	03-6739-0310