Code	Sector	Market
137A	Communications	Growth

Date of listing approval	2024/01/24
Expected Date	2024/02/28
Lead Underwriter	SMBC Nikko Securities Inc.
Description

Listed Shares(total)	707,500
Trading Unit	100
New Shares	150,000
Existing Shares	557,500（incl. O.A.）
Shares Outstanding	PreIPO 2,768,600.00
	PostIPO 2,918,600.00
Paid Up Capital	PreIPO Y99,621,000
	PostIPO Y222,441,000
Expected Pricing Date	2024/02/08
Book Building Start	2024/02/09
Book Building End	2024/02/16
Fix Date	2024/02/19
Offering Starts	2024/02/20
Offering Ends	2024/02/26
Expect Pricing	Y1,720-Y1,780
Notional PER (based on previous period)	48.33-50.01
Notional PER(based on results forecast)	31.52-32.62
Offering Price	Y1,780
Offering Price PER (based on previous period)	31.52-32.62
Offering Price PBR (based on previous period)	18.45
Offering Price PER (based on results forecast)	32.62
Use of Funds Raised

Units:Y1,000

Fiscal Year End:2021/05
	Consolidated	Non-consolidated
Revenue	-	297,435
Current Profit	-	34,229
Net Profit	-	33,519
Net Assets	-	82,260

Fiscal Year End:2022/05
	Consolidated	Non-consolidated
Revenue	-	557,140
Current Profit	-	70,503
Net Profit	-	48,469
Net Assets	-	141,060

Fiscal Year End:2023/05
	Consolidated	Non-consolidated
Revenue	-	797,145
Current Profit	-	140,710
Net Profit	-	97,175
Net Assets	-	267,160

Recent Quarter 2023/11
	Consolidated	Non-consolidated
Revenue	-	487,712
Current Profit	-	104,352
Net Profit	-	71,625
Net Assets	-	338,786

Results Forecast 2024/05
	Consolidated	Non-consolidated
Revenue	-	1,038,000
Current Profit	-	220,000
Net Profit	-	153,000
Net Assets	-	-

Per Share Units:Y1

Fiscal Year End:2021/05
	Consolidated	Non-consolidated
Dividend	0.00
Net Earning	-	-
Equity	12.41	30.46

Fiscal Year End:2022/05
	Consolidated	Non-consolidated
Dividend	0.00
Net Earning	-	-
Equity	17.88	51.85

Fiscal Year End:2023/05
	Consolidated	Non-consolidated
Dividend	0.00
Net Earning	-	-
Equity	35.59	96.49

Fiscal Year End:Interim Results 2023/11
	Consolidated	Non-consolidated
Dividend
Net Earning	-	25.87
Equity	-	-

Fiscal Year End:Results Forecast 2024/05
	Consolidated	Non-consolidated
Dividend
Net Earning	-	54.56
Equity	-	-

■Over allotment(92,200)

Name	Address

Allocation	Underwriter	Tel
0%	Nomura	03-3211-1811
97%	SMBC Nikko Securities Inc.	03-5644-3111
1.5%	Mizuho Securities Co., Ltd	03-5208-3210
0.5%	Rakuten Securities Holdings, Inc.	03-6406-2681
0.5%	Matsui Securities Co., Ltd	03-5216-0606
0.5%	SBI SECURITIES Co.,Ltd.	03-5562-7210