Code	Sector	Market
3958	Pulp & Paper	Standard

Date of listing approval	2023/08/18
Expected Date	2023/09/22
Lead Underwriter	Tokai Tokyo
Description

Listed Shares(total)	2,016,900
Trading Unit	100
New Shares	500,000
Existing Shares	1,516,900（incl. O.A.）
Shares Outstanding	PreIPO 6,185,000.00
	PostIPO 6,185,000.00
Paid Up Capital	PreIPO Y309,250,000
	PostIPO Y309,250,000
Expected Pricing Date	2023/09/04
Book Building Start	2023/09/06
Book Building End	2023/09/12
Fix Date	2023/09/13
Offering Starts	2023/09/14
Offering Ends	2023/09/20
Expect Pricing	Y580-Y600
Notional PER (based on previous period)	5.26-5.44
Notional PER(based on results forecast)	9.00-9.31
Offering Price	Y600
Offering Price PER (based on previous period)	9.00-9.31
Offering Price PBR (based on previous period)	0.43
Offering Price PER (based on results forecast)	9.31
Use of Funds Raised

Units:Y1,000

Fiscal Year End:2020/06
	Consolidated	Non-consolidated
Revenue	-	12,097,263
Current Profit	-	250,525
Net Profit	-	196,743
Net Assets	-	5,543,376

Fiscal Year End:2021/06
	Consolidated	Non-consolidated
Revenue	11,852,988	11,049,241
Current Profit	352,707	360,797
Net Profit	275,526	241,348
Net Assets	6,424,142	6,036,805

Fiscal Year End:2022/06
	Consolidated	Non-consolidated
Revenue	12,373,824	11,226,148
Current Profit	734,659	585,991
Net Profit	551,258	428,588
Net Assets	6,956,406	6,360,865

Recent Quarter 2023/03
	Consolidated	Non-consolidated
Revenue	9,984,628	-
Current Profit	544,896	-
Net Profit	402,985	-
Net Assets	7,224,693	-

Results Forecast 2024/06
	Consolidated	Non-consolidated
Revenue	13,426,000	-
Current Profit	503,000	-
Net Profit	347,000	-
Net Assets	-	-

Per Share Units:Y1

Fiscal Year End:2020/06
	Consolidated	Non-consolidated
Dividend	5.00
Net Earning	-	-
Equity	39.58	1,109.34

Fiscal Year End:2021/06
	Consolidated	Non-consolidated
Dividend	5.00
Net Earning	55.14	1,285.60
Equity	48.30	1,208.08

Fiscal Year End:2022/06
	Consolidated	Non-consolidated
Dividend	5.00
Net Earning	110.32	1,392.11
Equity	85.77	1,272.93

Fiscal Year End:Recent Quarter 2023/03
	Consolidated	Non-consolidated
Dividend
Net Earning	80.65	-
Equity	-	-

Fiscal Year End:Results Forecast 2024/06
	Consolidated	Non-consolidated
Dividend	18.00
Net Earning	64.46	-
Equity	-	-

■Over allotment(263,000)

Name	Address

Allocation	Underwriter	Tel
0%	Nomura	03-3211-1811
85%	Tokai Tokyo	03-3566-8811
3.5%	SMBC Nikko	03-5644-3111
3.5%	Daiwa	03-5555-2111
3.5%	SBI SECURITIES Co.,Ltd.	03-5562-7210
1.5%	Mitsubishi UFJ Morgan Stanley Securities Co., Ltd.	03-6213-8500
1%	Rakuten Securities	03-6406-2681
1%	Okasan	03-3272-2211
1%	Ando	052-971-1511