Japan’s virtual YouTuber management agency Anycolor files for IPO

Image credit: Anycolor

Tokyo-based Anycolor, the Japanese startup behind the VTubers (short for “Virtual YouTubers”) group Nijisanji, announced on Thursday that its IPO application to list on the Tokyo Stock Exchange had been approved. The company will be listed on the TSE Growth Market on June 8 with plans to offer 30,000 shares for public subscription and to sell 174,600 shares in over-allotment options for a total of 1,114,000 shares. The underwriting will be led by Daiwa Securities and Mitsubishi UFJ Morgan Stanley Securities while Anycolor’s ticker code will be 5032.

Based on the company’s estimated issue price is 1,490 yen (about $11.5) per share, its market cap is approximately 44.6 billion yen (about $344 million). Its share price range will be released on May 23 with bookbuilding scheduled to start on May 24 and pricing on May 30. The final public offering price will be determined on May 31. According to its consolidated statement as of April of 2021, the company posted revenue of 7.63 billion yen ($58.5 million) with an ordinary profit of 1.45 billion yen ($11.2 million).

Anycolor was founded in 2017 by CEO Riku Tazumi under its previous name of Ichikara. After participating in a long-term internship at Tokyo-based web solution provider GaiaX, he took a leave of absence of Waseda University to launch the company. Subsequently he launched Nijisanji in 2018 followed by rebranding the company into Anycolor in May of 2021.

According to Japanese web access analysis startup UserLocal, the Nijisanji group is comprised of over 110 VTubers who are followed by 39 million subscribing viewers on their YouTube channels. Anycolor’s expanded support for the VTubers has improved the quality of their video clips, which contributed to increasing viewing time and subscribing viewers on YouTube, eventually the revenue from live streaming. The company is also focused on merchandising fan goods as well as receiving orders for influencer marketing campaigns from companies.

Led by CEO Tazumi (43.11%), the company’s major shareholders include LC Fund (a fund of China’s Legend Capital, 10.29%), HODE HK (Hong Kong-based subsidiary of Chinese video giant Bilibili, 7.34%), Skyland Ventures (6.91%), Sony Music Entertainment (5.14%), Ken Honda (Founder of Freakout Holdings, 4.61%), Shinya Tsurui (Anycolor’s CFO, 3.00%), and Influencer Investment Holdings (subsidiary of Adways, 3.50%).