Code	Sector	Market
138A	Retail	Growth

Date of listing approval	2024/01/25
Expected Date	2024/02/28
Lead Underwriter	Tokai Tokyo Securities Co., Ltd
Description

Listed Shares(total)	368,000
Trading Unit	100
New Shares	320,000
Existing Shares	48,000（only O.A.）
Shares Outstanding	PreIPO 672,000.00
	PostIPO 992,000.00
Paid Up Capital	PreIPO Y20,000,000
	PostIPO Y411,552,000
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	Y2,400-Y2,660
Notional PER (based on previous period)	25.65-28.43
Notional PER(based on results forecast)	10.80-11.97
Offering Price	Y2,660
Offering Price PER (based on previous period)	10.80-11.97
Offering Price PBR (based on previous period)	10.98
Offering Price PER (based on results forecast)	11.97
Use of Funds Raised

Units:Y1,000

Fiscal Year End:2020/11
	Consolidated	Non-consolidated
Revenue	-	1,096,922
Current Profit	-	7,844
Net Profit	-	-49,312
Net Assets	-	64,408

Fiscal Year End:2021/11
	Consolidated	Non-consolidated
Revenue	-	868,429
Current Profit	-	109,858
Net Profit	-	40,576
Net Assets	-	104,984

Fiscal Year End:2022/11
	Consolidated	Non-consolidated
Revenue	-	1,684,256
Current Profit	-	133,189
Net Profit	-	62,876
Net Assets	-	162,847

Recent Quarter 2023/08
	Consolidated	Non-consolidated
Revenue	-	1,640,127
Current Profit	-	184,640
Net Profit	-	128,051
Net Assets	-	290,899

Results Forecast 2024/11
	Consolidated	Non-consolidated
Revenue	-	2,542,000
Current Profit	-	292,000
Net Profit	-	203,000
Net Assets	-	-

Per Share Units:Y1

Fiscal Year End:2020/11
	Consolidated	Non-consolidated
Dividend	0.00
Net Earning	-	-
Equity	-73.38	95.85

Fiscal Year End:2021/11
	Consolidated	Non-consolidated
Dividend	0.00
Net Earning	-	-
Equity	60.38	156.23

Fiscal Year End:2022/11
	Consolidated	Non-consolidated
Dividend	0.00
Net Earning	-	-
Equity	93.57	242.33

Fiscal Year End:Recent Quarter 2023/08
	Consolidated	Non-consolidated
Dividend
Net Earning	-	190.55
Equity	-	-

Fiscal Year End:Results Forecast 2024/11
	Consolidated	Non-consolidated
Dividend	0.00
Net Earning	-	222.23
Equity	-	-

■Over allotment(48,000)

Name	Address

Allocation	Underwriter	Tel
0%	Nomura	03-3211-1811
90%	Tokai Tokyo Securities Co., Ltd	03-3566-8811
3%	SMBC Nikko Securities Inc.	03-5644-3111
3%	OKASAN SECURITIES GROUP INC	03-3272-2211
2%	KYOKUTO SECURITIES CO.,LTD	03-3667-9171
1%	Rakuten Securities Holdings, Inc.	03-6406-2681
1%	Mito Securities Co., Ltd	03-6739-0310