Code	Sector	Market
228A	Communications	Growth

Date of listing approval	2024/07/18
Expected Date	2024/08/21
Lead Underwriter	SMBC Nikko
Description

Listed Shares(total)	655,500
Trading Unit	100
New Shares	564,900
Existing Shares	90,600（incl. O.A.）
Shares Outstanding	PreIPO 1,640,400.00
	PostIPO 2,205,300.00
Paid Up Capital	PreIPO Y98,000,000
	PostIPO Y435,810,200
Expected Pricing Date	2024/08/02
Book Building Start	2024/08/05
Book Building End	2024/08/09
Fix Date	2024/08/13
Offering Starts	2024/08/14
Offering Ends	2024/08/19
Expect Pricing	Y1,240-Y1,300
Notional PER (based on previous period)	21.23-22.25
Notional PER(based on results forecast)	18.40-19.29
Offering Price	Y1,300
Offering Price PER (based on previous period)	18.40-19.29
Offering Price PBR (based on previous period)	13.56
Offering Price PER (based on results forecast)	19.29
Use of Funds Raised

Units:Y1,000

Fiscal Year End:2021/11
	Consolidated	Non-consolidated
Revenue	-	752,370
Current Profit	-	70,892
Net Profit	-	113,265
Net Assets	-	-38,463

Fiscal Year End:2022/11
	Consolidated	Non-consolidated
Revenue	-	1,290,499
Current Profit	-	132,465
Net Profit	-	99,881
Net Assets	-	61,418

Fiscal Year End:2023/11
	Consolidated	Non-consolidated
Revenue	-	1,618,158
Current Profit	-	109,954
Net Profit	-	95,834
Net Assets	-	157,252

Recent Quarter 2024/05
	Consolidated	Non-consolidated
Revenue	-	1,023,920
Current Profit	-	159,372
Net Profit	-	103,717
Net Assets	-	260,970

Results Forecast 2024/11
	Consolidated	Non-consolidated
Revenue	-	2,132,000
Current Profit	-	184,000
Net Profit	-	121,000
Net Assets	-	-

Per Share Units:Y1

Fiscal Year End:2021/11
	Consolidated	Non-consolidated
Dividend	0.00
Net Earning	-	-
Equity	69.04	-23.44

Fiscal Year End:2022/11
	Consolidated	Non-consolidated
Dividend	0.00
Net Earning	-	-
Equity	60.88	37.44

Fiscal Year End:2023/11
	Consolidated	Non-consolidated
Dividend	0.00
Net Earning	-	-
Equity	58.42	95.86

Fiscal Year End:Interim Results 2024/05
	Consolidated	Non-consolidated
Dividend
Net Earning	-	63.22
Equity	-	-

Fiscal Year End:Results Forecast 2024/11
	Consolidated	Non-consolidated
Dividend	0.00
Net Earning	-	67.39
Equity	-	-

■Over allotment(85,500）

Name	Address

Allocation	Underwriter	Tel
0%	Nomura	03-3211-1811
98%	SMBC Nikko	03-5644-3111
0.5%	SBI SECURITIES Co.,Ltd.	03-5562-7210
0.5%	Rakuten Securities	03-6406-2681
0.5%	Matsui	03-5216-0606
0.5%	Monex	03-4323-3800