IPO Companies

The following is a list of companies in which we have invested that have gone public between 2021 and 2025.They are listed newest to oldest.

Dive Inc.https://dive.design/

Company Profile

Ticker symbol 151A
Market Growth Market
Address Shinjuku-ku Tokyo
Established March,2002
Business Temporary staffing and recruitment business specializing in resort part-time jobs, accommodation facility management business, information system business
Financial Highlights
（JPY in million）
  Jun-20 Jun-21 Jun-22
Revenue 2,758 4,009 8,265
Ordinary profit ▲212 23 137
Net Income ▲257 11 168

IPO information

Listing date March 27,2024
Offering price JPY1,820
Opening price JPY3,225

Thinca Co.,Ltd. https://www.thinca.co.jp/

Company Profile

Ticker symbol 149A
Market Growth Market
Address Chiyoda-ku Tokyo
Established Jan,2014
Business Development, sales and other related operations of the communication platform "Kaikura"
Financial Highlights
（JPY in million）
  Dec-20 Dec-21 Dec-22
Revenue 387 577 768
Ordinary profit ▲241 ▲91 ▲150
Net Income ▲268 ▲89 ▲136

IPO information

Listing date March 27,2024
Offering price JPY1,320
Opening price JPY1,671

Nyle Inc.https://nyle.co.jp/

Company Profile

Ticker symbol 5618
Market Growth Market
Address Shinagawa-ku Tokyo
Established Jan,2007
Business Mobility Service Business, Digital Marketing Business, Smartphone Media Business
Financial Highlights
（JPY in million）
  Dec-20 Dec-21 Dec-22
Revenue 2,125 2,628 4,139
Ordinary profit ▲1,128 ▲1,890 ▲1,354
Net Income ▲1,185 ▲1,895 ▲1,355

IPO information

Listing date December 20,2023
Offering price JPY1,680
Opening price JPY1,540

Blue innovation Co.,Ltd. https://www.blue-i.co.jp/en/

Company Profile

Ticker symbol 5597
Market Growth Market
Address Bunkyo-ku Tokyo
Established Jun,1999
Business Provide base platform services for remote control and integrated management of multiple drones and robots.
Financial Highlights
（JPY in million）
  Dec-20 Dec-21 Dec-22
Revenue 493 725 908
Ordinary profit ▲284 ▲393 ▲341
Net Income ▲286 ▲394 ▲345

IPO information

Listing date December 12,2023
Offering price JPY1,584
Opening price JPY2,023

K Pharma, Inc. https://en.kpharma.co.jp/

Company Profile

Ticker symbol 4896
Market Growth Market
Address Minato-ku Tokyo
Established Nov,2016
Business Drug development using iPS cells, development of cell drugs.
Financial Highlights
（JPY in million）
  Dec-20 Dec-21 Dec-22
Revenue － － －
Ordinary profit ▲269 ▲220 ▲359
Net Income ▲271 ▲228 ▲392

IPO information

Listing date October 17,2023
Offering price JPY950
Opening price JPY875

MoneyHero Limited https://www.moneyherogroup.com/

Company Profile

Ticker symbol MNY
Market NASDAQ
Address Cayman Islands
Established Sep,2014
Business Operation of financial product/service comparison sites
Financial Highlights
（USD in 000’s）
  Dec-20 Dec-21 Dec-22
Revenue 37,686 61,882 68,132
Ordinary profit ▲10,135 ▲30,970 ▲49,693
Net Income ▲10,171 ▲30,932 ▲49,441

IPO information

Listing date October 13,2023
Offering price ―
Opening price USD5.80

Pixie Dust Technologies, Inc. https://pixiedusttech.com/

Company Profile

Ticker symbol PXDT
Market NASDAQ
Address Chiyoda-ku Tokyo
Established May,2017
Business Technology development related to wave control
Financial Highlights
（JPY in million）
  Apr-21 Apr-22 Apr-23
Revenue 487 606 705
Ordinary profit ▲748 ▲1,124 ▲2,165
Net Income ▲752 ▲1,132 ▲2,166

IPO information

Listing date August 1,2023
Offering price USD9.00
Opening price USD9.90

Noile-Immune Biotech Inc. https://www.noile-immune.com/en.html

Company Profile

Ticker symbol 4893
Market Growth Market
Address Minato-ku Tokyo
Established Apr,2015
Business Drug discovery project for cancer immunotherapy with CAR-T using PRIME technology.
Financial Highlights
（JPY in million）
  Dec-20 Dec-21 Dec-22
Revenue 97 100 625
Ordinary profit ▲604 ▲792 ▲384
Net Income ▲636 ▲795 ▲386

IPO information

Listing date June 28,2023
Offering price JPY740
Opening price JPY695

ABEJA, Inc.https://www.abejainc.com/

Company Profile

Ticker symbol 5574
Market Growth Market
Address Minato-ku Tokyo
Established Sep,2012
Business Development and provision of AI Platform
Financial Highlights
（JPY in million）
  Aug-20 Aug-21 Aug-22
Revenue 1,039 1,259 1,978
Ordinary profit ▲886 ▲259 ▲181
Net Income ▲1,031 ▲350 ▲196

IPO information

Listing date June 13,2023
Offering price JPY1,550
Opening price JPY4,980

ispace,inc.https://ispace-inc.com/

Company Profile

Ticker symbol 9348
Market Growth Market
Address Chuo-ku Tokyo
Established Sep,2010
Business Provision of (1) goods transportation services,(2) promotion services (partnerships),(3) information services, etc., using landers and rovers being developed in-house.
Financial Highlights
（JPY in million）
  Mar-20 Mar-21(Consolidated) Mar-22(Consolidated)
Revenue 216 506 674
Ordinary profit ▲1,610 ▲2,609 ▲4,039
Net Income ▲1,614 ▲2,623 ▲4,105

IPO information

Listing date April 12,2023
Offering price JPY254
Opening price JPY1,000

Arent Inc.https://arent.co.jp/en/

Company Profile

Ticker symbol 5254
Market Growth Market
Address Chuo-ku Tokyo
Established Jul,2012
Business The Company has the ability to take the core business of operating companies from phase zero to one.
Financial Highlights
（JPY in million）
  Jun-20 Jun-21(Consolidated) Jun-22(Consolidated)
Revenue 761 722 1,011
Ordinary profit 376 45 14
Net Income 251 ▲20 ▲50

IPO information

Listing date March 28,2023
Offering price JPY1,440
Opening price JPY1,802

ELEMENTS, Inc. https://elementsinc.jp/

Company Profile

Ticker symbol 5246
Market Growth Market
Address Chiyoda-ku Tokyo
Established Dec,2013
Business Provision of payment service using fingerprint authentication technology
Financial Highlights
（JPY in million）
  Nov-19 Nov-20 Nov-21
Revenue 345 530 322
Ordinary profit ▲409 ▲596 ▲98
Net Income ▲474 ▲612 ▲259

IPO information

Listing date December 27,2022
Offering price JPY160
Opening price JPY312

monoAI technology Co., Ltd.https://monoai.co.jp/

Company Profile

Ticker symbol 5240
Market Growth Market
Address Chuo-ku Kobe-shi Hyogo
Established Jan,2013
Business Provision and development of XR CLOUD, a system that builds virtual spaces on digital basis
Financial Highlights
（JPY in million）
  Dec-19 Dec-20 Dec-21
Revenue 217 1,110 1,111
Ordinary profit 2 ▲370 ▲149
Net Income ▲21 ▲975 ▲207

IPO information

Listing date December 20,2022
Offering price JPY660
Opening price JPY1,280

Rebase, Inc.https://www.rebase.co.jp/

Company Profile

Ticker symbol 5138
Market Growth Market
Address Shibuya-ku Tokyo
Established Apr,2014
Business Operation of a marketplace "Instabase"
Financial Highlights
（JPY in million）
  Mar-20 Mar-21 Mar-22
Revenue 368 475 890
Ordinary profit 80 113 211
Net Income 15 90 139

IPO information

Listing date December 16,2022
Offering price JPY920
Opening price JPY2,120

Foodison, Inc.https://foodison.jp/

Company Profile

Ticker symbol 7114
Market Growth Market
Address Chuo-ku Tokyo
Established Apr,2013
Business Operation of fisheries distribution platform using information technology
Financial Highlights
（JPY in million）
  Mar-20 Mar-21 Mar-22
Revenue 2,870 2,929 3,572
Ordinary profit ▲11 ▲58 ▲8
Net Income ▲13 ▲64 ▲12

IPO information

Listing date December 16,2022
Offering price JPY2,300
Opening price JPY2,300

PT VENTENY FORTUNA INTERNATIONAL Tbkhttps://www.venteny.com/en

Company Profile
Ticker symbol VTNY
Market Indonesia Stock Exchange
Address Jakarta Indonesia
Established January,2021
Business Benefit package outsourcing service for companies and online cash loan for employees
Financial Highlights
（IDR in Million）
  Dec-21
Revenue 40,069
Ordinary profit 1,904
Net Income 1,904

IPO information

Listing date December 15,2022　
Offering price IDR360
Opening price IDR364

Cyfuse Biomedical K.K. https://www.cyfusebio.com/

Company Profile

Ticker symbol 4892
Market Growth Market
Address Minato-ku Tokyo
Established Aug,2010
Business Research, development, manufacturing and sales of regenerative medicine products
Financial Highlights
（JPY in million）
  Dec-19 Dec-20 Dec-21
Revenue 121 137 708
Ordinary profit ▲369 ▲327 144
Net Income ▲371 ▲329 142

IPO information

Listing date December 1,2022
Offering price JPY1,620
Opening price JPY1,720

Linkers Corporation https://corp.linkers.net/

Company Profile

Ticker symbol 5131
Market Growth Market
Address Bunkyo-ku Tokyo
Established Sep,2011
Business Provision of matching platform specializing on manufacturing
Financial Highlights
（JPY in million）
  Jul-19 Jul-20 Jul-21
Revenue 589 1,152 1,419
Ordinary profit ▲274 234 252
Net Income ▲281 292 183

IPO information

Listing date October 26,2022
Offering price JPY300
Opening price JPY503

unerry Inc. https://www.unerry.co.jp/

Company Profile

Ticker symbol 5034
Market Growth Market
Address Minato-ku Tokyo
Established Aug,2015
Business Provision of a platform for proximity marketing by sharing beacons
Financial Highlights
（JPY in million）
  Jun-19 Jun-20 Jun-21
Revenue 313 577 783
Ordinary profit ▲30 ▲98 ▲162
Net Income ▲31 ▲98 ▲162

IPO information

Listing date July 28,2022
Offering price JPY1,290
Opening price JPY3,000

Gorilla Technology Group Inc.https://www.gorilla-technology.com/

Company Profile
Ticker symbol GRRR
Market NASDAQ
Address Cayman Islands
Established May,2001
Business Development of AI-based video processing and video analysis using machine learning
Financial Highlights
（USD in 000’s）
  Dec-19 Dec-20 Dec-21
Revenue 39,265 45,412 42,242
Ordinary profit （564） （5,995） （8,786）
Net Income （535） （5,920） （8,548）

IPO information

Listing date July 14,2022　
Opening price USD 14.95

Microwave Chemical Co.,Ltd. https://mwcc.jp/en/

Company Profile

Ticker symbol 9227
Market Growth Market
Address Suminoe-ku Osaka-shi Osaka
Established Aug,2007
Business R&D and engineering of microwave process
Financial Highlights
（JPY in million）
  Mar-20 Mar-21 Mar-22
Revenue 1,052 458 860
Ordinary profit 27 ▲355 ▲98
Net Income 32 ▲1,036 ▲110

IPO information

Listing date June 24,2022
Offering price JPY605
Opening price JPY550

ANYCOLOR Inc https://www.anycolor.co.jp/en

Company Profile

Ticker symbol 5032
Market Growth Market
Address Minato-ku,Tokyo
Established May,2017
Business recruitment, creation, planning and production of Vtubers
Financial Highlights
（JPY in million）
  Apr-19 Apr-20 Apr-21
Revenue 866 3,478 7,636
Ordinary profit 47 42 1,451
Net Income 29 32 937

IPO information

Listing date June 8,2022
Offering price JPY1,530
Opening price JPY4,810

moi Corporation https://about.moi.st/ja/

Company Profile

Ticker symbol 5031
Market Growth Market
Address Chiyoda-ku,Tokyo
Established February,2012
Business operation of a live streaming platform
Financial Highlights
（JPY in million）
  Jan-19 Jan-20 Jan-21
Revenue 1,264 2,359 5,479
Ordinary profit ▲12 ▲190 ▲136
Net Income ▲34 ▲193 ▲146

IPO information

Listing date April 27,2022
Offering price JPY470
Opening price JPY902

PT GOTO Gojek Tokopedia Tbk

Company Profile
Ticker symbol GOTO
Market Indonesia Stock Exchange
Address South Jakarta Indonesia
Established October,2010
Business Operation of a ride-hailing service platform and EC marketplace business in Indonesia.
Financial Highlights
（IDR in Billion）
  Dec-18 Dec-19 Dec-20
Revenue 1,436 2,303 3,327
Ordinary profit （11,743） （24,159） （16,788）
Net Income （11,749） （24,081） （16,735）

IPO information

Listing date April 11,2022　
Offering price IDR338
Opening price IDR400

GiXo Ltd. https://www.gixo.jp/

Company Profile

Ticker symbol 9219
Market TSE Mothers
Address Minato-ku,Tokyo
Established December,2012
Business Business of providing support in collecting and analyzing big data, strategy planning and implementation
Financial Highlights
（JPY in million）
  Jun-19 Jun-20 Jun-21
Revenue 382 617 722
Ordinary profit 32 42 50
Net Income 23 36 51

IPO information

Listing date March 30,2022
Offering price JPY1,070
Opening price JPY1,100

Mental Health Technologies Co.Ltd https://mh-tec.co.jp/

Company Profile

Ticker symbol 9218
Market TSE Mothers
Address Minato-ku,Tokyo
Established March,2011
Business Development of AI platform for mental care services, IT solution service for medical associations
Financial Highlights
（JPY in million）
  Dec-19 Dec-20 Dec-21
Revenue 193 304 342
Ordinary profit （78） （1） 38
Net Income （78） （0） 39

IPO information

Listing date March 28,2022
Offering price JPY630
Opening price JPY880

TORICO Co.,Ltd. https://www.torico-corp.com/

Company Profile

Ticker symbol 7138
Market TSE Mothers
Address Chiyoda-ku,Tokyo
Established July,2005
Business E-commerce services centered on "mangazenkan.com", an online bookstore specializing in complete comic sets; digital comic distribution services in Japan and overseas; and manga event services in real spaces
Financial Highlights
（JPY in million）
  Mar-19 Mar-20 Mar-21
Revenue 2,813 3,174 4,991
Ordinary profit 35 （28） 273
Net Income 37 （30） 273

IPO information

Listing date March 23,2022
Offering price JPY1,700
Opening price JPY2,510

CaSy Co.,Ltd. https://casy.co.jp/

Company Profile

Ticker symbol 9215
Market TSE Mothers
Address Shinagawa-ku,Tokyo
Established January,2014
Business Housekeeping service through cloud sourcing
Financial Highlights
（JPY in million）
  Nov-19 Nov-20 Nov-21
Revenue 806 965 1,165
Ordinary profit （210） （120） （5）
Net Income （210） （120） 3

IPO information

Listing date February 22,2022
Offering price JPY1,350
Opening price JPY2,001

SUSMED, Inc. https://www.susmed.co.jp/

Company Profile

Ticker symbol 4263
Market TSE Mothers
Address Chuo-ku,Tokyo
Established July,2015
Business Development of apps for treatment for insomnia and blockchain system for clinical trial
Financial Highlights
（JPY in million）
  Jun-19 Jun-20 Jun-21
Revenue 5 34 115
Ordinary profit （215） （88） （271）
Net Income （216） （96） （277）

IPO information

Listing date December 24,2021
Offering price JPY1,410
Opening price JPY1,500

ExaWizards Inc.https://exawizards.com/

Company Profile

Ticker symbol 4259
Market TSE Mothers
Address Minato-ku,Tokyo
Established February,2016
Business Solving social issues through Artificial Intelligence
Financial Highlights
（JPY in million）
  Mar-19 Mar-20 Mar-21
Revenue 985 2,063 2,612
Ordinary profit （386） （422） （348）
Net Income （353） （469） （585）

IPO information

Listing date December 23,2021
Offering price JPY1,150
Opening price JPY1,030

Photosynth Inc.https://photosynth.co.jp/

Company Profile

Ticker symbol 4379
Market TSE Mothers
Address Minato-ku,Tokyo
Established September,2014
Business The Company provides its smart lock, “Akerun,” for corporate clients.
Financial Highlights
（JPY in million）
  Dec-18 Dec-19 Dec-20
Revenue 428 778 1,175
Ordinary profit （518） （708） （683）
Net Income （526） （713） （1,184）

IPO information

Listing date Novenber 5,2021
Offering price JPY1,500
Opening price JPY1,410

Asterisk Inc.https://www.asx.co.jp/

Company Profile

Ticker symbol 6522
Market TSE Mothers
Address Osaka-shi Osaka
Established September,2006
Business Development and sales of bar-code/RFID readers and business apps incidental to them
Financial Highlights
（JPY in million）
　　　　　　　　　　　　　　　　
  Aug-18 Aug-19 Aug-20
Revenue1,362 1,078 1,320
Ordinary profit 202 93 32
Net Income 179 107 （9）

IPO information

Listing date September 30,2021
Offering price JPY3,300
Opening price JPY5,760

ProjectCompany, Inc.https://www.projectcompany.co.jp/

Company Profile

Ticker symbol 9246
Market TSE Mothers
Address Minato-ku,Tokyo
Established January,2016
Business UI/UX improvement for websites and apps and SNS operation marketing
Financial Highlights
（JPY in million）
  Dec-19 Dec-20
Revenue 664 1,104
Ordinary profit 31 170
Net Income 19 113

IPO information

Listing date September 29,2021
Offering price JPY2,650
Opening price JPY3,500

AEye, Inc.https://www.aeye.ai/

Company Profile
Ticker symbol LIDR
Market NASDAQ
Address 5700 Stoneridge Dr #102, Pleasanton, CA 94588, USA
Established February,2013
Business Development and provision of a sensing system capable of detecting moving objects by combining laser scanners(LiDAR) and cameras.
Financial Highlights
（USD in 000’s）
  Dec-17 Dec-18 Dec-19
Revenue 3,663 550 2,200
Ordinary profit （8,762） （16,110） （26,711）
Net Income （8,762） （16,110） （26,711）

IPO information

Listing date August 18,2021　
Opening price USD 9.31

Waqoo Inc. https://www.waqoo.jp/

Company Profile
Ticker symbol 4937
Market TSE Mothers
Address Setagaya-ku, Tokyo
Established December,2005
Business Waqoo Inc. plans and develops of original brands (cosmetics, etc.) using digital marketing and sales to general consumers through the company's e-commerce site, etc.
Financial Highlights
（JPY in million）
  Sep-18 Sep-19 Sep-20
Revenue 2,172 3,386 4,504
Ordinary profit 15 （793） 108
Net Income 22 （794） 98

IPO information

Listing date June 29,2021
Public offering price JPY 1,920
Opening price JPY 2,362

Perseus Proteomics Inc.https://www.ppmx.com/

Company Profile
Ticker symbol 4882
Market TSE Mothers
Address Meguro-ku, Tokyo
Established February,2001
Business Perseus Proteomics Inc. researchs and develops of therapeutic drugs for cancer and other diseases based on the protein expression and antibody production technologies developed at the Laboratory of Systems Biology and Medicine (LSBM), a research center for advanced science and technology at the University of Tokyo, and related activities.
Financial Highlights
（JPY in million）
  Mar-19 Mar-20
Revenue 275 85
Ordinary profit （145） （834）
Net Income （163） （841）

IPO information

Listing date June 22,2021
Public offering price JPY 870
Opening price JPY 1,005

SoFi Technologies Inc.https://www.sofi.com/

Company Profile
Ticker symbol SOFI
Market NASDAQ
Address 234 1st Street San Francisco, CA 94105
Established April,2011
Business SoFi Technologies Inc. provides student loans, personal loans, mortgage loans, and asset management, credit card, and insurance services.
Financial Highlights
（USD in million）
  Dec-18 Dec-19 Dec-20
Revenue 241 451 621
EBITDA （227） （149） （45）

IPO information

Listing date June 1,2021
Public offering price USD 10
Opening price USD 21.97

Visional, Inc.https://www.visional.inc/ja/index.html/

Company Profile
Ticker symbol 4194
Market TSE Mothers
Address Shibuya-ku, Tokyo
Established August,2007
Business Visional, Inc. operates ”Bizreach", a membership-based job search platform specializing in professional human resources.
Financial Highlights
（JPY in million）
  Jul-19(Consolidated) Jul-20(Consolidated)
Revenue 21,492 25,879
Ordinary profit 511 2,254
Net Income 335 4,658

IPO information

Listing date April 22,2021
Public offering price JPY 5,000
Opening price JPY 7,150

QD Laser, Inc.https://www.qdlaser.com/

Company Profile
Ticker symbol 6613
Market TSE Mothers
Address Kawasaki-shi , Kanagawa
Established April,2006
Business QD Laser, Inc. develops, manufactures, and sales semiconductor lasers, retinal scanning laser eyewear, and their application products.
Financial Highlights
（JPY in million）
  Mar-18 Mar-19 Mar-20
Revenue 664 961 757
Ordinary profit （1,075） （996） （1,225）
Net Income （1,128） （1,041） （1,240）

IPO information

Listing date Feburuary 5,2021
Public offering price JPY 340
Opening price JPY 797