Japanese startup-focused promotion agency PR Times files for IPO

Japanese startup-focused promotion agency PR Times files for IPO

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Image: PR Times’ blog “PRFREAK”

See the original story in Japanese.

Tokyo-based PR Times, a Japanese promotion agency focused on distributing press releases on behalf of client companies, announced that its IPO application to the Tokyo Stock Exchange has been approved on Friday. The company will be listed on the TSE Mothers Market on 26 March with plans to offer 300,000 shares for public subscription and to sell 114,000 shares in over-allotment options, for a total of 460,000 shares. The underwriting will be led by SBI Securities.

Its share price range will be released on 10 March with bookbuilding scheduled to start on 1 March and pricing on 14 March. According to the consolidated statement as of February 2015, they posted a revenue of 845 million Japanese yen ($7.5 million) and an ordinary loss of 92 million yen ($816,000). In the latest fiscal quarter, they posted a revenue of 840 million yen ($7.4 million) and an ordinary profit of 194 million yen ($1.7 million).

Led by Japanese promotion agency Vector (TSE:6058, holding a 85.6% stake), its major shareholders include GMCM Venture Capital Partners I Inc. (12.5%), the company’s CEO Takumi Yamaguchi (1.6%), and managing director Kensuke Yamada (0.3%).

Previously known as Kijineta.com, PR Times was launched in December of 2005 as a wholly-owned subsidiary of Vector. The company was rebranded to PR Times in 2007, followed by launch of press release distribution service as PR Times in April of the same year. They surpassed 10,000 companies as users in August 2015, then attained 5.9 million accumulated page views in October 2015.

Disclosure: PR Times is an investor in The Bridge.

Translated by Masaru Ikeda
Edited by “Tex” Pomeroy