Code	Sector	Market
429A	Other Products	Prime

Date of listing approval	2025/09/22
Expected Date	2025/10/16
Lead Underwriter	SMBC Nikko Securities Inc. Nomura Securities Co., Ltd Mitsubishi UFJ Morgan Stanley Securities Co., Ltd.
Description

Listed Shares(total)	52,203,500
Trading Unit	100
New Shares	7,000,000
Existing Shares	45,203,500（incl. O.A.）
Shares Outstanding	PreIPO 92,291,220.00
	PostIPO 99,291,220.00
Paid Up Capital	PreIPO Y400,000,000
	PostIPO Y10,427,500,000
Expected Pricing Date	2025/09/30
Book Building Start	2025/09/30
Book Building End	2025/10/06
Fix Date	2025/10/08
Offering Starts	2025/10/09
Offering Ends	2025/10/14
Expect Pricing	Y2,900-Y3,000
Notional PER (based on previous period)	27.84-28.80
Notional PER(based on results forecast)	14.67-15.18
Offering Price	Y3,000
Offering Price PER (based on previous period)	14.67-15.18
Offering Price PBR (based on previous period)	2.38
Offering Price PER (based on results forecast)	15.18
Use of Funds Raised

Units:Y1,000

Fiscal Year End:2023/03
	Consolidated	Non-consolidated
Revenue	100,782,000	21,556,000
Current Profit	29,366,000	13,721,000
Net Profit	22,159,000	10,891,000
Net Assets	110,604,000	93,512,000

Fiscal Year End:2024/03
	Consolidated	Non-consolidated
Revenue	107,086,000	21,899,000
Current Profit	22,901,000	7,247,000
Net Profit	16,105,000	5,238,000
Net Assets	137,709,000	98,751,000

Fiscal Year End:2025/03
	Consolidated	Non-consolidated
Revenue	117,974,000	23,258,000
Current Profit	30,771,000	27,042,000
Net Profit	9,945,000	23,091,000
Net Assets	116,381,000	94,845,000

Recent Quarter 2025/06
	Consolidated	Non-consolidated
Revenue	30,076,000	-
Current Profit	6,799,000	-
Net Profit	5,475,000	-
Net Assets	121,439,000	-

Results Forecast 2026/03
	Consolidated	Non-consolidated
Revenue	125,291,000	-
Current Profit	25,915,000	-
Net Profit	18,878,000	-
Net Assets	-	-

Per Share Units:Y1

Fiscal Year End:2023/03
	Consolidated	Non-consolidated
Dividend	0.00
Net Earning	221.60	1,106.03
Equity	108.91	935.11

Fiscal Year End:2024/03
	Consolidated	Non-consolidated
Dividend	90.00
Net Earning	161.05	1,377.07
Equity	52.38	987.49

Fiscal Year End:2025/03
	Consolidated	Non-consolidated
Dividend	0.00
Net Earning	104.16	1,260.98
Equity	241.85	1,027.63

Fiscal Year End:Recent Quarter 2025/06
	Consolidated	Non-consolidated
Dividend
Net Earning	59.33	-
Equity	-	-

Fiscal Year End:Results Forecast 2026/03
	Consolidated	Non-consolidated
Dividend	54.39
Net Earning	197.65	-
Equity	-	-

■Over allotment (6,070,300) ■Over allotment（5,941,600→6,070,300）

Name	Address

Allocation	Underwriter	Tel
0%	Nomura	03-3211-1811
32.8%	SMBC Nikko Securities Inc.	03-5644-3111
32.8%	Nomura Securities Co., Ltd	03-3211-1811
27.4%	Mitsubishi UFJ Morgan Stanley Securities Co., Ltd.	03-6213-8500
1.6%	Mitsubishi UFJ Morgan Stanley Securities Co., Ltd	03-5424-5000
0.5%	BofA Securities Japan Co., Ltd.	03-6225-7000
1.9%	Mizuho Securities Co., Ltd	03-5208-3210
1.9%	Daiwa Securities Co. Ltd	03-5555-2111
0.2%	SBI SECURITIES Co.,Ltd.	03-5562-7210
0.2%	Monex, Inc	03-4323-3800
0.2%	Matsui Securities Co., Ltd	03-5216-0606
0.2%	OKASAN SECURITIES GROUP INC	03-3272-2211
0.2%	IwaiCosmo Securities Co.,Ltd.	06-6229-2890