IPO - Japan FinTech Observer

capital markets

Sapporo Securities Exchange Unveils Blueprint for "PRO Frontier Market," Targeting Startups and Regional Growth Sectors

The Sapporo Securities Exchange (SSE) has officially released the regulatory framework for its upcoming professional-investor-focused equity market, tentatively titled the Sapporo PRO Frontier Market (SPFM). In a public consultation document, the exchange outlined a flexible listing structure designed to compete with the Tokyo Pro Market by lowering barriers for high-growth

IPO

The TSE's Measures in Response to IPO Fraud

In response to recent cases of accounting fraud involving companies going public, the Tokyo Stock Exchange (TSE) and Japan Exchange Regulation (JPX-R) are introducing a new set of measures. The primary goal of these new rules is to enhance the quality of the listing examination process and prevent similar fraudulent

IPO

The FUNDINNO IPO

FUNDINNO went public on the Tokyo Stock Exchange Growth Segment on December 5, 2025, at the top of the indicated range from JPY 600 to 620. After reaching a high of JPY 935 during the first day of trading, the stock has since settled in around the JPY 800 mark,

IPO

The Infcurion IPO

Infcurion debuted on the TSE’s Growth Segment on Friday, October 24, 2025. After bookbuilding resulted in a ¥1,680 reference price, above the indicated range up to ¥1,600, the stock’s first quote was ¥1,560, and the closing price ¥1,451, altogether an underwhelming debut. At the

credit card

Infcurion Launches Latest Version of Next-Generation Card Platform "Xard"

Infcurion, which will go public on the Growth Segment of the Tokyo Stock Exchange on October 24, 2025, has started offering the latest version of its next-generation card platform "Xard (Exard)". This latest version adds integrated implementation of "member management," "funding source management," and

payments

Infcurion to IPO on the TSE Growth Market in October

The Tokyo Stock Exchange has approved the initial listing of Infcurion's shares on the Growth Market, with the listing date scheduled for Friday, October 24, 2025. Infcurion's listing application provides a detailed look into the company that positions itself not as a direct financial service provider,

Insurance

FWD Group's Japan Business

The FWD Group has published its interim results report for the six months ended June 30, 2025, its first since going public on the Hong Kong Exchange in July 2025, allowing for a look at its Japanese business. FWD entered the Japanese market in 2017 through the acquisition of AIG

payments

PayPay Powers LY Corp's First Quarter as it Prepares for IPO

LY Corporation's revenue for the cumulative consolidated first quarter of the fiscal year ending March 31, 2026 amounted to 489.6 billion yen (up 5.7% year on year), representing the highest cumulative consolidated first quarter revenue to date. This was due to an increased revenue in the

cryptocurrency exchange

Coincheck's FY3/25 Financial Results

Coincheck Group has reported its first full fiscal year results, after listing on Nasdaq through a SPAC transaction at the end of last year. Before we get into the results announcement, however, let us take a look at where Coincheck fits into the overall Monex Group. Overview Monex Group has

venture capital

Sushi Tech #3 - Rethinking Japan's Startup Ecosystem: Priorities for the Next Decade

This Sushi Tech panel discussed the theme of "Rethinking Japan's Startup Ecosystem: Priorities for the Next Decade." Moderated by Akio Tanaka, Founding Partner of Headline Asia, the panel consisted of industry experts who offered their perspectives on the current state of Japan's startup landscape,

venture capital

FactBase raises JPY 1.45bn Series B from Financial Institutions

FactBase and its group companies announce have raised a total of 1.45 billion yen in Series B round through third-party allotment of shares and share transfers to Mitsubishi UFJ Capital, Mizuho Capital, Resona Capital, and others. About Fact Base Under the vision of "Creating an order-receiving platform where

capital markets

Reformation of the TSE Growth Market

In order to improve the effectiveness of the market restructuring, the Tokyo Stock Exchange (TSE) has established a Council of Experts, which includes economists, investors, listed companies, academics and other market participants, to continuously follow up on the progress of measures and investor evaluations, and to discuss additional measures regarding