Tokyo, Japan
PRONEXUS INC. (TOKYO:7893), Japan's leading financial printer, reports on conditions within the Japanese IPO market during the first quarter (January to March) of 2008.
1. Overview
During the first quarter (January to March) of 2008, the number of IPOs fell by 22 companies to 21 from 43 during the same period last year, for a similar rate of decline by 51% year-over-year to that recorded from July to December period of 2007. The average annual sales in the year before IPO of companies which went public during the first quarter fell by 22% year-over-year to JPY 15.6 billion, while the average recurring profit increased by 113% year-over-year to JPY 2.0 billion. The amount of raising fund of each company going public during the period under review ranged from JPY 91 million to JPY 52.3 billion, with the average amount of capital raised of JPY 3.76 billion. In addition, the share price after the IPO for companies fell on a weighted average by 4% from the subscription price to the first share price in trading in the open market.
2. Statistics
(1) New Listings by Securities Exchanges (1st Quarter 2007 data)
TSE 1 or 2 : 3 (4), Mothers: 6 (6), JASDAQ: 7 (18), JASDAQ NEO: 1 (0), Hercules: 2 (11), Centrex: 1 (1), Ambitious: 1 (3)
(2) Years from Founding to IPO
Shortest: 4 years 11 months, Longest: 74 years 8 months
(3) Sales in the Year Before IPO
The company with the largest sales was real estate development company Morimoto Co., Ltd. which listed on the Second Section of the Tokyo Stock Exchange with sales of JPY 95.6 billion. The company with the smallest sales was pharmaceutical development company NanoCarrier Co., Ltd., which listed on the Mothers of the Tokyo Stock Exchange with sales of JPY 100 million.
(4) Price Gains from Subscription to First Open Market Trading
The share price in terms of weighted average fund raising from the subscription pricing during the IPO process to the first day of trading in the open market declined by 3.9%, which compares with the 39.8% increase recorded during the first quarter of last year.
Looking at the price movement in the various stock exchanges, the average share price from subscription to first day of trading in the Mothers and Hercules markets rose by 95% and 63% respectively.
(5) Age of Presidents of IPO Companies
The youngest and oldest presidents of companies going public during the first quarter were 30 and 71 years old respectively, and the average age was 53.3 years old.
Profile of Pronexus
1. Name: Pronexus Inc.
2. CEO: Morio Ueno, President and Representative Director
3. Address: 2-20, Kaigan 1-chome, Minato-ku, Tokyo 105-0022 Japan
4. Established: May 1947
5. Major activities (for IPO and listed companies):
Creation and printing of corporate disclosure documents and other IR support services. Our main products include IPO documentation, financial reports and other earnings reports, shareholder meeting materials, IR materials and web-IR contents. In addition, the company provides consulting, information security support, printing and the latest support services with unique IT designed to meet the latest legal requirements for a variety of customers' disclosure and IR activities.
* Our company also provides IPO support services for foreign companies in Japan.
Example: We helped ASIA MEDIA Co., Inc. and CHINA BOQI Inc. to list in Japan
6. URL: http://www.pronexus.co.jp/
Source: Business Wire (Business Wire India)