Code	Sector	Market
9023	Land Transportation	Prime

Date of listing approval	2024/09/20
Expected Date	2024/10/23
Lead Underwriter	Nomura Securities Co., Ltd
Description

Listed Shares(total)	290,500,000
Trading Unit	100
New Shares	0
Existing Shares	290,500,000
Shares Outstanding	PreIPO 581,000,000.00
	PostIPO 581,000,000.00
Paid Up Capital	PreIPO Y58,100,000,000
	PostIPO Y58,100,000,000
Expected Pricing Date	2024/10/07
Book Building Start	2024/10/08
Book Building End	2024/10/11
Fix Date	2024/10/15
Offering Starts	2024/10/16
Offering Ends	2024/10/21
Expect Pricing	Y1,100-Y1,200
Notional PER (based on previous period)	13.81-15.07
Notional PER(based on results forecast)	12.22-13.33
Offering Price	Y1,200
Offering Price PER (based on previous period)	12.22-13.33
Offering Price PBR (based on previous period)	1.04
Offering Price PER (based on results forecast)	13.33
Use of Funds Raised

Units:Y1,000

Fiscal Year End:2022/03
	Consolidated	Non-consolidated
Revenue	306,904,000	289,953,000
Current Profit	-20,497,000	-24,042,000
Net Profit	-13,397,000	-15,029,000
Net Assets	618,360,000	581,226,000

Fiscal Year End:2023/03
	Consolidated	Non-consolidated
Revenue	345,370,000	327,042,000
Current Profit	19,694,000	16,431,000
Net Profit	27,771,000	26,614,000
Net Assets	633,344,000	598,631,000

Fiscal Year End:2024/03
	Consolidated	Non-consolidated
Revenue	389,267,000	370,420,000
Current Profit	65,866,000	63,361,000
Net Profit	46,262,000	45,809,000
Net Assets	668,395,000	632,803,000

Recent Quarter 2024/06
	Consolidated	Non-consolidated
Revenue	101,950,000	-
Current Profit	26,290,000	-
Net Profit	18,064,000	-
Net Assets	667,498,000	-

Results Forecast 2025/03
	Consolidated	Non-consolidated
Revenue	407,500,000	-
Current Profit	76,700,000	-
Net Profit	52,300,000	-
Net Assets	-	-

Per Share Units:Y1

Fiscal Year End:2022/03
	Consolidated	Non-consolidated
Dividend	16.00
Net Earning	-23.06	1,064.30
Equity	-25.87	1,000.39

Fiscal Year End:2023/03
	Consolidated	Non-consolidated
Dividend	20.00
Net Earning	47.80	1,090.09
Equity	45.81	1,030.35

Fiscal Year End:2024/03
	Consolidated	Non-consolidated
Dividend	32.00
Net Earning	79.63	1,150.42
Equity	78.85	1,089.16

Fiscal Year End:Recent Quarter 2024/06
	Consolidated	Non-consolidated
Dividend
Net Earning	31.09	-
Equity	-	-

Fiscal Year End:Results Forecast 2025/03
	Consolidated	Non-consolidated
Dividend	40.00
Net Earning	90.02	-
Equity	-	-

Name	Address

Allocation	Underwriter	Tel
0%	Nomura	03-3211-1811
32.275%	Nomura Securities Co., Ltd	03-3211-1811
32.275%	Mizuho Securities Co., Ltd	03-5208-3210
7.027%	Goldman Sachs Group Inc.	03-6437-1000
8.868%	Mitsubishi UFJ Morgan Stanley Securities Co., Ltd.	03-6213-8500
6.44%	SMBC Nikko Securities Inc.	03-5644-3111
6.44%	Daiwa Securities Co. Ltd	03-5555-2111
1.366%	SBI SECURITIES Co.,Ltd.	03-5562-7210
0.792%	OKASAN SECURITIES GROUP INC	03-3272-2211
0.792%	Tokai Tokyo Securities Co., Ltd	03-3566-8811
0.792%	Rakuten Securities Holdings, Inc.	03-6406-2681
0.346%	IwaiCosmo Securities Co.,Ltd.	06-6229-2890
0.346%	Matsui Securities Co., Ltd	03-5216-0606
0.346%	Monex, Inc	03-4323-3800
0.148%	AIZAWA SECURITIES GROUP CO., LTD	03-3272-3118
0.148%	Akatsuki Securities,Inc	03-5641-7800
0.148%	KYOKUTO SECURITIES CO.,LTD	03-3667-9171
0.148%	TOYO SECURITIES CO.,LTD	03-5117-1040
0.148%	Marusan Securities Co., Ltd	03-3272-5211
0.148%	Mito Securities Co., Ltd	03-6739-0310
0.119%	Musashi Securities Co.,Ltd	048-644-0634
0.114%	FFG Securities Co., Ltd.	092-771-3836
0.114%	Chibagin Securities Co.,Ltd.	043-222-1141
0.114%	Naito	06-6229-6511
0.114%	Nishi-Nippon City Tokai Tokyo Securities Co.,Ltd	092-707-3000
0.079%	J Trust Global Securities Co., Ltd.	03-4560-0200
0.079%	THE TACHIBANA SECURITIES CO., LTD.	03-3669-3111
0.079%	HACHIJUNI SECURITIES Co.,Ltd	0268-22-5536
0.079%	North Pacific Securities Co., Ltd.	011-221-8536
0.049%	Retela Crea Securities Co., Ltd.	03-3667-4411
0.045%	The Kosei Securities Co., Ltd	06-6209-0821