AVCJ

Japan VC-backed internet firm Kayac files for IPO

  • LinkedIn  
  • Google plus  
  • Save this article  

Kayac, a Japanese internet company backed by Globis Capital Partners and CyberAgent, has filed for its IPO on the Mothers (market of the high-growth and emerging stocks) section of the Tokyo Stock Exchange (TSE).

CyberAgent and Globis took a 10% stake in the business alongside online clothing store operator Start Today in 2011.

Launched in 1998 by Masanori Kaihata, Daisuke Yanasawa, and Tomoyoshi Cuba, and incorporated in 2005, Kayac offers humorous news, web services, mobile apps and games that are distributed via DeNA's mobile games platform Mobage. Popular game titles include social baseball game Bokura no Koshien.

The company will float 1.38 million shares, including 989,000 new shares. Currently, Globis currently holds a 4.4% stake in the business, while Cyberagent and Start Today own 2.2% and 1.1%, respectively. The three founders have 88.05%.

Kayac reported JPY2.8 billion ($23.7 million) in revenue for the 2013 financial year, up from JPY2.5 billion the previous year. Net profit, meanwhile, came to JPY131 million, versus a JPY122 million loss the year before.

Pricing will take place on December 5 and the IPO will launch on December 12. The stock is scheduled to commence trading on December 25. The company has appointed Nomura Securities as lead underwriter.

  • LinkedIn  
  • Google plus  
  • Save this article  

More on North Asia

Latest News

Asian GPs slow implementation of ESG policies - survey
Asian GPs slow implementation of ESG policies - survey

Asia-based private equity firms are assigning more dedicated resources to environment, social, and governance (ESG) programmes, but policy changes have slowed in the past 12 months, in part due to concerns raised internally and by LPs, according to a...

  • GPs