Code	Sector	Market
186A	Service	Growth

Date of listing approval	2024/05/01
Expected Date	2024/06/05
Lead Underwriter	Mitsubishi UFJ Morgan Stanley Securities Co., Ltd. Mizuho Securities Co., Ltd Mitsubishi UFJ Morgan Stanley Securities Co., Ltd
Description

Listed Shares(total)	28,054,100
Trading Unit	100
New Shares	22,169,200
Existing Shares	5,884,900（incl. O.A.）
Shares Outstanding	PreIPO 90,859,200.00
	PostIPO 113,028,400.00
Paid Up Capital	PreIPO Y100,000,000
	PostIPO Y5,053,712,557
Expected Pricing Date	2024/05/20
Book Building Start	2024/05/20
Book Building End	2024/05/24
Fix Date	2024/05/27
Offering Starts	2024/05/28
Offering Ends	2024/05/31
Expect Pricing	Y750-Y850
Notional PER (based on previous period)	-6.75--7.65
Notional PER(based on results forecast)	-8.49--9.62
Offering Price	Y850
Offering Price PER (based on previous period)	-8.49--9.62
Offering Price PBR (based on previous period)	-2.24
Offering Price PER (based on results forecast)	-9.62
Use of Funds Raised

Units:Y1,000

Fiscal Year End:2021/04
	Consolidated	Non-consolidated
Revenue	651,343	110
Current Profit	-4,895,986	-1,248,789
Net Profit	-4,893,050	-17,886,772
Net Assets	7,277,400	9,218,313

Fiscal Year End:2022/04
	Consolidated	Non-consolidated
Revenue	910,368	396
Current Profit	-5,563,449	-5,466,927
Net Profit	-5,484,122	-5,460,145
Net Assets	14,091,753	16,271,805

Fiscal Year End:2023/04
	Consolidated	Non-consolidated
Revenue	1,792,991	6,708
Current Profit	-9,314,001	-9,350,844
Net Profit	-9,264,266	-12,784,164
Net Assets	14,890,596	13,744,108

Recent Quarter 2024/01
	Consolidated	Non-consolidated
Revenue	1,994,122	-
Current Profit	-5,823,108	-
Net Profit	-5,824,121	-
Net Assets	9,425,813	-

Results Forecast 2024/04
	Consolidated	Non-consolidated
Revenue	2,700,000	-
Current Profit	-8,000,000	-
Net Profit	-8,000,000	-
Net Assets	-	-

Per Share Units:Y1

Fiscal Year End:2021/04
	Consolidated	Non-consolidated
Dividend	0.00
Net Earning	-7,302.14	-20,965.86
Equity	-26,693.33	-18,283.61

Fiscal Year End:2022/04
	Consolidated	Non-consolidated
Dividend	0.00
Net Earning	-73.66	172.04
Equity	-73.34	197.32

Fiscal Year End:2023/04
	Consolidated	Non-consolidated
Dividend	0.00
Net Earning	-111.16	-379.46
Equity	-153.40	-398.24

Fiscal Year End:Recent Quarter 2024/01
	Consolidated	Non-consolidated
Dividend
Net Earning	-64.43	-
Equity	-	-

Fiscal Year End:Results Forecast 2024/04
	Consolidated	Non-consolidated
Dividend	0.00
Net Earning	-88.39	-
Equity	-	-

■Over allotment(3,124,900)

Name	Address

Allocation	Underwriter	Tel
0%	Nomura	03-3211-1811
48.4%	Mitsubishi UFJ Morgan Stanley Securities Co., Ltd.	03-6213-8500
22.1%	Mizuho Securities Co., Ltd	03-5208-3210
21.6%	Mitsubishi UFJ Morgan Stanley Securities Co., Ltd	03-5424-5000
3%	SBI SECURITIES Co.,Ltd.	03-5562-7210
1%	Nomura Securities Co., Ltd	03-3211-1811
1%	SMBC Nikko Securities Inc.	03-5644-3111
1%	Rakuten Securities Holdings, Inc.	03-6406-2681
0.5%	Tokai Tokyo Securities Co., Ltd	03-3566-8811
0.5%	OKASAN SECURITIES GROUP INC	03-3272-2211
0.3%	Mito Securities Co., Ltd	03-6739-0310
0.1%	Matsui Securities Co., Ltd	03-5216-0606
0.1%	Monex, Inc	03-4323-3800
0.1%	IwaiCosmo Securities Co.,Ltd.	06-6229-2890
0.1%	Akatsuki Securities,Inc	03-5641-7800
0.1%	TOYO SECURITIES CO.,LTD	03-5117-1040
0.1%	AIZAWA SECURITIES GROUP CO., LTD	03-3272-3118