Code	Sector	Market
2938	Food Products	Standard

Date of listing approval	2023/08/24
Expected Date	2023/09/27
Lead Underwriter	Nomura
Description

Listed Shares(total)	1,207,500
Trading Unit	100
New Shares	1,050,000
Existing Shares	157,500（only O.A.）
Shares Outstanding	PreIPO 6,735,210.00
	PostIPO 7,785,210.00
Paid Up Capital	PreIPO Y90,000,000
	PostIPO Y905,850,000
Expected Pricing Date	2023/09/07
Book Building Start	2023/09/08
Book Building End	2023/09/14
Fix Date	2023/09/15
Offering Starts	2023/09/19
Offering Ends	2023/09/22
Expect Pricing	Y1,600-Y1,680
Notional PER (based on previous period)	4.79-5.03
Notional PER(based on results forecast)	9.77-10.26
Offering Price	Y1,680
Offering Price PER (based on previous period)	9.77-10.26
Offering Price PBR (based on previous period)	1.52
Offering Price PER (based on results forecast)	10.26
Use of Funds Raised

Units:Y1,000

Fiscal Year End:2020/06
	Consolidated	Non-consolidated
Revenue	-	14,478,000
Current Profit	-	788,000
Net Profit	-	-1,089,000
Net Assets	-	2,796,000

Fiscal Year End:2021/06
	Consolidated	Non-consolidated
Revenue	20,214,000	16,000,000
Current Profit	1,593,000	1,274,000
Net Profit	992,000	585,000
Net Assets	5,265,000	3,243,000

Fiscal Year End:2022/06
	Consolidated	Non-consolidated
Revenue	24,100,000	17,866,000
Current Profit	3,341,000	2,041,000
Net Profit	2,249,000	1,245,000
Net Assets	7,447,000	4,429,000

Recent Quarter 2023/03
	Consolidated	Non-consolidated
Revenue	20,855,000	-
Current Profit	3,033,000	-
Net Profit	2,063,000	-
Net Assets	9,537,000	-

Results Forecast 2024/06
	Consolidated	Non-consolidated
Revenue	32,598,000	-
Current Profit	1,775,000	-
Net Profit	1,234,000	-
Net Assets	-	-

Per Share Units:Y1

Fiscal Year End:2020/06
	Consolidated	Non-consolidated
Dividend	8.43
Net Earning	-	-
Equity	-161.70	415.15

Fiscal Year End:2021/06
	Consolidated	Non-consolidated
Dividend	8.43
Net Earning	147.29	781.82
Equity	86.90	481.65

Fiscal Year End:2022/06
	Consolidated	Non-consolidated
Dividend	8.43
Net Earning	333.98	1,105.82
Equity	184.87	657.67

Fiscal Year End:Recent Quarter 2023/03
	Consolidated	Non-consolidated
Dividend
Net Earning	306.36	-
Equity	-	-

Fiscal Year End:Results Forecast 2024/06
	Consolidated	Non-consolidated
Dividend	34.00
Net Earning	163.78	-
Equity	-	-

■Over allotment(157,500)

Name	Address

Allocation	Underwriter	Tel
0%	Nomura	03-3211-1811
92%	Nomura	03-3211-1811
2%	Daiwa	03-5555-2111
2%	Mizuho	03-5208-3210
2%	SMBC Nikko	03-5644-3111
1%	SBI SECURITIES Co.,Ltd.	03-5562-7210
1%	Rakuten Securities	03-6406-2681