Code	Sector	Market
149A	Communications	Growth

Date of listing approval	2024/02/21
Expected Date	2024/03/27
Lead Underwriter	SMBC Nikko Securities Inc.
Description

Listed Shares(total)	713,000
Trading Unit	100
New Shares	467,000
Existing Shares	246,000（incl. O.A.）
Shares Outstanding	PreIPO 2,692,320.00
	PostIPO 3,159,320.00
Paid Up Capital	PreIPO Y99,000,000
	PostIPO Y382,562,400
Expected Pricing Date	2024/03/08
Book Building Start	2024/03/11
Book Building End	2024/03/15
Fix Date	2024/03/18
Offering Starts	2024/03/19
Offering Ends	2024/03/25
Expect Pricing	Y1,050-Y1,100
Notional PER (based on previous period)	-20.77--21.76
Notional PER(based on results forecast)	23.96-25.10
Offering Price	Y1,320
Offering Price PER (based on previous period)	23.96-25.10
Offering Price PBR (based on previous period)	12.56
Offering Price PER (based on results forecast)	30.12
Use of Funds Raised

Units:Y1,000

Fiscal Year End:2020/12
	Consolidated	Non-consolidated
Revenue	-	387,680
Current Profit	-	-241,498
Net Profit	-	-268,927
Net Assets	-	508,937

Fiscal Year End:2021/12
	Consolidated	Non-consolidated
Revenue	-	577,093
Current Profit	-	-91,596
Net Profit	-	-89,777
Net Assets	-	419,160

Fiscal Year End:2022/12
	Consolidated	Non-consolidated
Revenue	-	768,268
Current Profit	-	-150,836
Net Profit	-	-136,124
Net Assets	-	283,035

Recent Quarter 2023/09
	Consolidated	Non-consolidated
Revenue	-	778,183
Current Profit	-	100,319
Net Profit	-	98,283
Net Assets	-	381,319

Results Forecast 2024/12
	Consolidated	Non-consolidated
Revenue	-	1,353,000
Current Profit	-	151,000
Net Profit	-	133,000
Net Assets	-	-

Per Share Units:Y1

Fiscal Year End:2020/12
	Consolidated	Non-consolidated
Dividend	0.00
Net Earning	-	-
Equity	-112.78	189.03

Fiscal Year End:2021/12
	Consolidated	Non-consolidated
Dividend	0.00
Net Earning	-	-
Equity	-33.35	155.69

Fiscal Year End:2022/12
	Consolidated	Non-consolidated
Dividend	0.00
Net Earning	-	-
Equity	-50.56	105.13

Fiscal Year End:Recent Quarter 2023/09
	Consolidated	Non-consolidated
Dividend
Net Earning	-	36.51
Equity	-	-

Fiscal Year End:Results Forecast 2024/12
	Consolidated	Non-consolidated
Dividend	0.00
Net Earning	-	43.83
Equity	-	-

■Over allotment(93,000)

Name	Address

Allocation	Underwriter	Tel
0%	Nomura	03-3211-1811
95%	SMBC Nikko Securities Inc.	03-5644-3111
2%	SBI SECURITIES Co.,Ltd.	03-5562-7210
1%	Monex, Inc	03-4323-3800
1%	Rakuten Securities Holdings, Inc.	03-6406-2681
0.5%	HIROGIN SECURITIES CO., LTD.	082-245-5000
0.5%	OKASAN SECURITIES GROUP INC	03-3272-2211