Code	Sector	Market
428A	Retail	Standard

Date of listing approval	2025/09/09
Expected Date	2025/10/08
Lead Underwriter	Daiwa Securities Co. Ltd
Description

Listed Shares(total)	4,046,600
Trading Unit	100
New Shares	0
Existing Shares	4,046,600（incl. O.A.）
Shares Outstanding	PreIPO 12,744,600.00
	PostIPO 12,744,600.00
Paid Up Capital	PreIPO Y45,000,000
	PostIPO Y45,000,000
Expected Pricing Date	2025/09/24
Book Building Start	2025/09/24
Book Building End	2025/09/29
Fix Date	2025/09/30
Offering Starts	2025/10/01
Offering Ends	2025/10/06
Expect Pricing	Y690-Y710
Notional PER (based on previous period)	51.88-53.38
Notional PER(based on results forecast)	21.44-22.06
Offering Price	Y710
Offering Price PER (based on previous period)	21.44-22.06
Offering Price PBR (based on previous period)	4.77
Offering Price PER (based on results forecast)	22.06
Use of Funds Raised

Units:Y1,000

Fiscal Year End:2022/08
	Consolidated	Non-consolidated
Revenue	-	-
Current Profit	-	-99,892
Net Profit	-	-101,102
Net Assets	-	8,707,435

Fiscal Year End:2023/08
	Consolidated	Non-consolidated
Revenue	8,816,622	-
Current Profit	185,600	-101,145
Net Profit	17,354	-102,357
Net Assets	1,725,685	8,605,077

Fiscal Year End:2024/08
	Consolidated	Non-consolidated
Revenue	10,256,796	72,000
Current Profit	298,799	-67,196
Net Profit	169,501	-68,408
Net Assets	1,895,186	8,536,669

Recent Quarter 2025/05
	Consolidated	Non-consolidated
Revenue	8,157,408	-
Current Profit	404,932	-
Net Profit	264,826	-
Net Assets	2,160,013	-

Results Forecast 2025/08
	Consolidated	Non-consolidated
Revenue	11,234,000	-
Current Profit	617,000	-
Net Profit	410,000	-
Net Assets	-	-

Per Share Units:Y1

Fiscal Year End:2022/08
	Consolidated	Non-consolidated
Dividend	0.00
Net Earning	-	-
Equity	-7.93	646.06

Fiscal Year End:2023/08
	Consolidated	Non-consolidated
Dividend	0.00
Net Earning	1.36	135.41
Equity	-8.03	675.19

Fiscal Year End:2024/08
	Consolidated	Non-consolidated
Dividend	0.00
Net Earning	13.30	148.71
Equity	-5.37	669.83

Fiscal Year End:Recent Quarter 2025/05
	Consolidated	Non-consolidated
Dividend
Net Earning	20.78	-
Equity	-	-

Fiscal Year End:Results Forecast 2025/08
	Consolidated	Non-consolidated
Dividend
Net Earning	32.19	-
Equity	-	-

■Over allotment (527,800)

Name	Address

Allocation	Underwriter	Tel
0%	Nomura	03-3211-1811
90%	Daiwa Securities Co. Ltd	03-5555-2111
4%	Nomura Securities Co., Ltd	03-3211-1811
3%	SBI SECURITIES Co.,Ltd.	03-5562-7210
2%	Monex, Inc	03-4323-3800
1%	Rakuten Securities Holdings, Inc.	03-6406-2681