Jafco-backed Fixsters, Shirohato file for Tokyo IPOs

Fixstars Corporation, the parent company of Fixstars Solutions, will offer 120,000 shares - including 100,000 new shares - on the Mothers (market of the high-growth and emerging stocks) section of the Tokyo Stock Exchange on from April 23.

The issue represents just over 10% of the firm's outstanding shares post IPO. Jafco holds around 5% of the company.

Set up in 2002, Tokyo-based Fixstars develops a suite of software catered to multi-processor computing, which helps optimize complex functions such as image processing and big data analysis. Its clients include Boeing Commercial and Defense, Lockheed Martin, the US armed services, Toshiba, Canon, Sony, Panasonic, and Mizuho Securities.

Shirohato, meanwhile, will list on the JASDAQ Securities Exchange, offering 1.14 million shares, including 570,000 new shares. Jafco holds around 16.5% in the company.

Shirohato - meaning "white dove" - was set up as a small underwear shop in Kyoto in 1965 but has operated as an e-commerce business since 1995. It now sells its products through websites such as Amazon, Yahoo, Qoo10, DeNA, Tmall and Rakuten.

Fixstars and Rakuten will represent the third and fourth Japan IPOs by Jafco-backed companies this year. Earlier this month Jafco-backed soil decontamination business Enbio raised JPY752 million while cloud services firm Cyberlinks raised JPY690 million, both on the Mother's section.

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