Code	Sector	Market
176A	Electricity & Gas	Growth

Date of listing approval	2024/03/21
Expected Date	2024/04/24
Lead Underwriter	Daiwa Securities Co. Ltd
Description

Listed Shares(total)	5,928,300
Trading Unit	100
New Shares	150,000
Existing Shares	5,778,300（incl. O.A.）
Shares Outstanding	PreIPO 18,195,000.00
	PostIPO 18,345,000.00
Paid Up Capital	PreIPO Y100,000,000
	PostIPO Y182,800,000
Expected Pricing Date	2024/04/08
Book Building Start	2024/04/09
Book Building End	2024/04/16
Fix Date	2024/04/16
Offering Starts	2024/04/17
Offering Ends	2024/04/22
Expect Pricing	Y1,100-Y1,200
Notional PER (based on previous period)	14.88-16.23
Notional PER(based on results forecast)	11.09-12.09
Offering Price	Y1,200
Offering Price PER (based on previous period)	11.09-12.09
Offering Price PBR (based on previous period)	3.52
Offering Price PER (based on results forecast)	12.09
Use of Funds Raised

Units:Y1,000

Fiscal Year End:2021/03
	Consolidated	Non-consolidated
Revenue	-	29,154,388
Current Profit	-	2,510,086
Net Profit	-	1,752,476
Net Assets	-	3,851,846

Fiscal Year End:2022/03
	Consolidated	Non-consolidated
Revenue	30,990,007	30,049,571
Current Profit	1,714,458	1,632,456
Net Profit	1,519,298	1,549,747
Net Assets	5,289,355	4,564,623

Fiscal Year End:2023/06
	Consolidated	Non-consolidated
Revenue	48,867,407	45,547,720
Current Profit	1,972,685	1,614,004
Net Profit	1,344,967	1,055,006
Net Assets	6,222,545	5,208,362

Recent Quarter 2023/12
	Consolidated	Non-consolidated
Revenue	20,268,602	-
Current Profit	1,730,698	-
Net Profit	1,215,724	-
Net Assets	7,044,866	-

Results Forecast 2024/06
	Consolidated	Non-consolidated
Revenue	37,827,000	-
Current Profit	2,569,000	-
Net Profit	1,808,000	-
Net Assets	-	-

Per Share Units:Y1

Fiscal Year End:2021/03
	Consolidated	Non-consolidated
Dividend	46.00
Net Earning	-	-
Equity	96.32	211.15

Fiscal Year End:2022/03
	Consolidated	Non-consolidated
Dividend	46.00
Net Earning	83.50	289.73
Equity	85.17	250.32

Fiscal Year End:2023/06
	Consolidated	Non-consolidated
Dividend	22.00
Net Earning	73.92	340.65
Equity	57.98	285.31

Fiscal Year End:Interim Results 2023/12
	Consolidated	Non-consolidated
Dividend
Net Earning	66.82	-
Equity	-	-

Fiscal Year End:Results Forecast 2024/06
	Consolidated	Non-consolidated
Dividend	30.00
Net Earning	99.23	-
Equity	-	-

■Over allotment(773,200）

Name	Address

Allocation	Underwriter	Tel
0%	Nomura	03-3211-1811
80%	Daiwa Securities Co. Ltd	03-5555-2111
10%	Nomura Securities Co., Ltd	03-3211-1811
2%	Mitsubishi UFJ Morgan Stanley Securities Co., Ltd.	03-6213-8500
2%	SMBC Nikko Securities Inc.	03-5644-3111
2%	Mizuho Securities Co., Ltd	03-5208-3210
1.5%	SBI SECURITIES Co.,Ltd.	03-5562-7210
1.5%	Rakuten Securities Holdings, Inc.	03-6406-2681
0.5%	OKASAN SECURITIES GROUP INC	03-3272-2211
0.5%	KYOKUTO SECURITIES CO.,LTD	03-3667-9171