Japanese internet company Kayac files for IPO



Japanese internet company Kayac‘s IPO application to the Tokyo Stock Exchange Mothers Market was approved today. The company has appointed Nomura Securities as an underwriter for this IPO and will be listed on 25 December.

Since its launch in 1998, Kayac has been introducing humorous web services and mobile apps to attract users. They were incorporated in 2005, and subsequently started introducing social gaming apps via DeNA‘s mobile gaming platform Mobage after it opened to third party developers in 2010. Their smash hit gaming titles include Bokura no Koshien, a mobile baseball gaming app with a social networking feature.

Kayac saw 2.8 billion yen (approximately $23.7 million) in revenue with an ordinary profit of 216 million yen ($1.8 million) and a net profit of 31 million yen ($262,000) last year. The company was named after their three co-founders: Masanori Kaihata, Daisuke Yanasawa, and Tomoyoshi Cuba. All these people have a 88.05% stake in the company.

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