Code	Sector	Market
431A	Communications	Growth

Date of listing approval	2025/09/11
Expected Date	2025/10/17
Lead Underwriter	Nomura Securities Co., Ltd
Description

Listed Shares(total)	2,662,200
Trading Unit	100
New Shares	50,000
Existing Shares	2,612,200（incl. O.A.）
Shares Outstanding	PreIPO 8,687,000.00
	PostIPO 8,687,000.00
Paid Up Capital	PreIPO Y100,000,000
	PostIPO Y100,000,000
Expected Pricing Date	2025/09/30
Book Building Start	2025/10/01
Book Building End	2025/10/06
Fix Date	2025/10/07
Offering Starts	2025/10/08
Offering Ends	2025/10/14
Expect Pricing	Y1,910-Y2,000
Notional PER (based on previous period)	23.55-24.65
Notional PER(based on results forecast)	19.45-20.36
Offering Price	Y2,000
Offering Price PER (based on previous period)	19.45-20.36
Offering Price PBR (based on previous period)	5.88
Offering Price PER (based on results forecast)	20.36
Use of Funds Raised

Units:Y1,000

Fiscal Year End:2022/12
	Consolidated	Non-consolidated
Revenue	-	4,041,056
Current Profit	-	102,666
Net Profit	-	64,861
Net Assets	-	1,953,634

Fiscal Year End:2023/12
	Consolidated	Non-consolidated
Revenue	-	5,038,601
Current Profit	-	123,994
Net Profit	-	74,741
Net Assets	-	2,028,376

Fiscal Year End:2024/12
	Consolidated	Non-consolidated
Revenue	-	6,074,883
Current Profit	-	909,190
Net Profit	-	634,157
Net Assets	-	2,658,540

Recent Quarter 2025/06
	Consolidated	Non-consolidated
Revenue	-	3,584,126
Current Profit	-	820,827
Net Profit	-	452,689
Net Assets	-	3,111,230

Results Forecast 2025/12
	Consolidated	Non-consolidated
Revenue	-	6,880,000
Current Profit	-	1,254,000
Net Profit	-	768,000
Net Assets	-	-

Per Share Units:Y1

Fiscal Year End:2022/12
	Consolidated	Non-consolidated
Dividend	0.00
Net Earning	-	-
Equity	9.30	249.38

Fiscal Year End:2023/12
	Consolidated	Non-consolidated
Dividend	0.00
Net Earning	-	-
Equity	9.56	258.94

Fiscal Year End:2024/12
	Consolidated	Non-consolidated
Dividend	0.00
Net Earning	-	-
Equity	81.12	340.05

Fiscal Year End:Interim Results 2025/06
	Consolidated	Non-consolidated
Dividend	0.00
Net Earning	-	57.90
Equity	-	-

Fiscal Year End:Results Forecast 2025/12
	Consolidated	Non-consolidated
Dividend	0.00
Net Earning	-	98.22
Equity	-	-

■Over allotment（347,200）

Name	Address

Allocation	Underwriter	Tel
0%	Nomura	03-3211-1811
90%	Nomura Securities Co., Ltd	03-3211-1811
2%	Daiwa Securities Co. Ltd	03-5555-2111
2%	SBI SECURITIES Co.,Ltd.	03-5562-7210
1%	Rakuten Securities Holdings, Inc.	03-6406-2681
1%	Marusan Securities Co., Ltd	03-3272-5211
1%	Tokai Tokyo Securities Co., Ltd	03-3566-8811
0.5%	Monex, Inc	03-4323-3800
0.5%	TOYO SECURITIES CO.,LTD	03-5117-1040
0.5%	IwaiCosmo Securities Co.,Ltd.	06-6229-2890
0.3%	KYOKUTO SECURITIES CO.,LTD	03-3667-9171
0.3%	OKASAN SECURITIES GROUP INC	03-3272-2211
0.3%	Mito Securities Co., Ltd	03-6739-0310
0.3%	Matsui Securities Co., Ltd	03-5216-0606
0.3%	Akatsuki Securities,Inc	03-5641-7800