Code	Sector	Market
5250	Communications	Standard

Date of listing approval	2023/01/19
Expected Date	2023/02/22
Lead Underwriter	SBI SECURITIES Co.,Ltd.
Description

Listed Shares(total)	1,112,300
Trading Unit	100
New Shares	464,000
Existing Shares	648,300（incl. O.A.）
Shares Outstanding	PreIPO 2,850,000.00
	PostIPO 3,314,000.00
Paid Up Capital	PreIPO Y40,000,000
	PostIPO Y336,681,600
Expected Pricing Date	2023/02/02
Book Building Start	2023/02/06
Book Building End	2023/02/10
Fix Date	2023/02/13
Offering Starts	2023/02/14
Offering Ends	2023/02/17
Expect Pricing	Y1,250-Y1,390
Notional PER (based on previous period)	37.29-41.47
Notional PER(based on results forecast)	17.23-19.16
Offering Price	Y1,390
Offering Price PER (based on previous period)	17.23-19.16
Offering Price PBR (based on previous period)	30.12
Offering Price PER (based on results forecast)	19.16
Use of Funds Raised

Units:Y1,000

Fiscal Year End:2019/11
	Consolidated	Non-consolidated
Revenue	-	547,079
Current Profit	-	-28,457
Net Profit	-	-19,461
Net Assets	-	8,677

Fiscal Year End:2020/11
	Consolidated	Non-consolidated
Revenue	567,004	556,850
Current Profit	48,852	45,986
Net Profit	27,623	23,444
Net Assets	35,135	32,122

Fiscal Year End:2021/11
	Consolidated	Non-consolidated
Revenue	559,845	538,581
Current Profit	145,889	134,533
Net Profit	95,519	86,007
Net Assets	131,524	118,129

Recent Quarter 2022/08
	Consolidated	Non-consolidated
Revenue	534,575	-
Current Profit	197,269	-
Net Profit	129,908	-
Net Assets	266,255	-

Results Forecast 2023/11
	Consolidated	Non-consolidated
Revenue	920,000	-
Current Profit	335,000	-
Net Profit	232,000	-
Net Assets	-	-

Per Share Units:Y1

Fiscal Year End:2019/11
	Consolidated	Non-consolidated
Dividend	0.00
Net Earning	-	-
Equity	-6.83	3.22

Fiscal Year End:2020/11
	Consolidated	Non-consolidated
Dividend	0.00
Net Earning	9.69	12.33
Equity	8.23	11.27

Fiscal Year End:2021/11
	Consolidated	Non-consolidated
Dividend	0.00
Net Earning	33.52	46.15
Equity	30.18	41.45

Fiscal Year End:Recent Quarter 2022/08
	Consolidated	Non-consolidated
Dividend
Net Earning	45.58	-
Equity	-	-

Fiscal Year End:Results Forecast 2023/11
	Consolidated	Non-consolidated
Dividend	0.00
Net Earning	72.54	-
Equity	-	-

■Over allotment(145,000)

Name	Address

Allocation	Underwriter	Tel
0%	Nomura	03-3211-1811
85%	SBI SECURITIES Co.,Ltd.	03-5562-7210
6%	Nomura	03-3211-1811
3.5%	Daiwa	03-5555-2111
3.5%	Mizuho	03-5208-3210
1%	IwaiCosmo Securities Co.,Ltd.	06-6229-2890
0.5%	Matsui	03-5216-0606
0.5%	Akatsuki Securities	03-5641-7800