Code	Sector	Market
148A	Communications	Growth

Date of listing approval	2024/02/20
Expected Date	2024/03/26
Lead Underwriter	SMBC Nikko Securities Inc.
Description

Listed Shares(total)	348,700
Trading Unit	100
New Shares	161,900
Existing Shares	186,800（incl. O.A.）
Shares Outstanding	PreIPO 1,707,900.00
	PostIPO 1,817,900.00
Paid Up Capital	PreIPO Y100,000,000
	PostIPO Y209,296,000
Expected Pricing Date	2024/03/07
Book Building Start	2024/03/08
Book Building End	2024/03/14
Fix Date	2024/03/15
Offering Starts	2024/03/18
Offering Ends	2024/03/22
Expect Pricing	Y1,680-Y1,800
Notional PER (based on previous period)	-7.44--7.97
Notional PER(based on results forecast)	11.35-12.17
Offering Price	Y2,160
Offering Price PER (based on previous period)	11.35-12.17
Offering Price PBR (based on previous period)	-4.04
Offering Price PER (based on results forecast)	14.60
Use of Funds Raised

Units:Y1,000

Fiscal Year End:2020/12
	Consolidated	Non-consolidated
Revenue	-	1,276,004
Current Profit	-	-290,636
Net Profit	-	-337,098
Net Assets	-	114,138

Fiscal Year End:2021/12
	Consolidated	Non-consolidated
Revenue	-	1,418,948
Current Profit	-	-378,559
Net Profit	-	-368,439
Net Assets	-	445,569

Fiscal Year End:2022/12
	Consolidated	Non-consolidated
Revenue	-	1,647,992
Current Profit	-	-394,634
Net Profit	-	-371,891
Net Assets	-	173,651

Recent Quarter 2023/09
	Consolidated	Non-consolidated
Revenue	-	1,511,187
Current Profit	-	-20,964
Net Profit	-	-3,192
Net Assets	-	170,458

Results Forecast 2024/12
	Consolidated	Non-consolidated
Revenue	-	2,444,000
Current Profit	-	190,000
Net Profit	-	263,000
Net Assets	-	-

Per Share Units:Y1

Fiscal Year End:2020/12
	Consolidated	Non-consolidated
Dividend	0.00
Net Earning	-	-
Equity	-292.31	-110.20

Fiscal Year End:2021/12
	Consolidated	Non-consolidated
Dividend	0.00
Net Earning	-	-
Equity	-266.57	-318.05

Fiscal Year End:2022/12
	Consolidated	Non-consolidated
Dividend	0.00
Net Earning	-	-
Equity	-225.78	-535.15

Fiscal Year End:Recent Quarter 2023/09
	Consolidated	Non-consolidated
Dividend
Net Earning	-	-1.93
Equity	-	-

Fiscal Year End:Results Forecast 2024/12
	Consolidated	Non-consolidated
Dividend	0.00
Net Earning	-	147.96
Equity	-	-

■Over allotment(45,400)

Name	Address

Allocation	Underwriter	Tel
0%	Nomura	03-3211-1811
93.6%	SMBC Nikko Securities Inc.	03-5644-3111
2%	SBI SECURITIES Co.,Ltd.	03-5562-7210
1%	OKASAN SECURITIES GROUP INC	03-3272-2211
1%	Tokai Tokyo Securities Co., Ltd	03-3566-8811
1%	Matsui Securities Co., Ltd	03-5216-0606
0.5%	AIZAWA SECURITIES GROUP CO., LTD	03-3272-3118
0.5%	KYOKUTO SECURITIES CO.,LTD	03-3667-9171
0.5%	TOYO SECURITIES CO.,LTD	03-5117-1040