Code	Sector	Market
2932	Food Products	TSE2

Date of listing approval	2020/08/20
Expected Date	2020/09/25
Lead Underwriter	Nomura
Description	Food product sales business that consistently processes from procurement of raw materials for marine products to manufacturing and sales

Listed Shares(total)	1,495,500
Trading Unit	100
New Shares	300,500
Existing Shares	1,195,000（incl. O.A.）
Shares Outstanding	PreIPO 5,000,500.00
	PostIPO 5,300,500.00
Paid Up Capital	PreIPO Y100,000,000
	PostIPO Y363,564,375
Expected Pricing Date	2020/09/03
Book Building Start	2020/09/07
Book Building End	2020/09/11
Fix Date	2020/09/14
Offering Starts	2020/09/15
Offering Ends	2020/09/18
Expect Pricing	Y1,790-Y1,900
Notional PER (based on previous period)	19.63-20.83
Offering Price	Y1,900
Offering Price PER (based on previous period)	-
Offering Price PBR (based on previous period)	4.88
Use of Funds Raised

Units:Y1,000

Fiscal Year End:2017/12
	Consolidated	Non-consolidated
Revenue	-	-
Current Profit	-	-1,702
Net Profit	-	-1,714
Net Assets	-	-714

Fiscal Year End:2018/12
	Consolidated	Non-consolidated
Revenue	17,843,530	7,383,090
Current Profit	710,571	200,967
Net Profit	506,780	135,238
Net Assets	1,769,461	1,187,129

Fiscal Year End:2019/12
	Consolidated	Non-consolidated
Revenue	20,644,845	9,086,350
Current Profit	591,348	354,315
Net Profit	456,006	346,513
Net Assets	1,959,835	1,306,637

Recent Quarter 2020/06
	Consolidated	Non-consolidated
Revenue	10,705,960	-
Current Profit	459,757	-
Net Profit	282,332	-
Net Assets	2,150,432	-

Per Share Units:Y1

Fiscal Year End:2017/12
	Consolidated	Non-consolidated
Dividend	0.00
Net Earning	-	-
Equity	-3,428.60	-1,428.60

Fiscal Year End:2018/12
	Consolidated	Non-consolidated
Dividend	30.00
Net Earning	101.35	345.90
Equity	27.04	237.35

Fiscal Year End:2019/12
	Consolidated	Non-consolidated
Dividend	28.00
Net Earning	91.20	389.02
Equity	69.30	261.25

Fiscal Year End:Interim Results 2020/06
	Consolidated	Non-consolidated
Dividend
Net Earning	56.46	-
Equity	-	-

■Over allotment(195,000)

Name	Address

Allocation	Underwriter	Tel
0%	Nomura	03-3211-1811
96%	Nomura	03-3211-1811
3%	Ichiyoshi	03-3555-6210
1%	Ace	06-6267-2111