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Japan’s Caster, introducing remote workers to companies, files for IPO

The Bridge The Bridge
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Japanese startup Caster, the company offering online-based office assistant services for companies, announced on Wednesday that its initial listing application on the Tokyo Stock Exchange had been approved. The company will be listed on the TSE Growth Market on October 4 with plans to offer 350,000 shares for public subscription and to sell 52,500 shares in over-allotment options. The underwriting will be led by Daiwa Securities while Caster’s ticker code will be 9331. Based on the company’s estimated issue price is 650 yen (about $4.5) per share, its market cap is approximately 1.24 billion yen (about $8.5 million). Its share price range will be released on September 14 with bookbuilding scheduled to start on September 19 and pricing on September 25. The final public offering price will be determined on September 26. According to its consolidated statement as of August of 2022, the company posted revenue of 3.34 billion yen ($23 million) with an ordinary loss of 161.8 million yen ($1.1 million). Founded in September of 2014, the company offers Caster Biz and other services helping enterprises connect with freelance or contract-based remote workers to outsource corporate tasks such as secretary, personnel, accounting, and translation operations. Over 800 remote workers…

Japanese startup Caster, the company offering online-based office assistant services for companies, announced on Wednesday that its initial listing application on the Tokyo Stock Exchange had been approved. The company will be listed on the TSE Growth Market on October 4 with plans to offer 350,000 shares for public subscription and to sell 52,500 shares in over-allotment options. The underwriting will be led by Daiwa Securities while Caster’s ticker code will be 9331.

Based on the company’s estimated issue price is 650 yen (about $4.5) per share, its market cap is approximately 1.24 billion yen (about $8.5 million). Its share price range will be released on September 14 with bookbuilding scheduled to start on September 19 and pricing on September 25. The final public offering price will be determined on September 26. According to its consolidated statement as of August of 2022, the company posted revenue of 3.34 billion yen ($23 million) with an ordinary loss of 161.8 million yen ($1.1 million).

Founded in September of 2014, the company offers Caster Biz and other services helping enterprises connect with freelance or contract-based remote workers to outsource corporate tasks such as secretary, personnel, accounting, and translation operations. Over 800 remote workers have been registered while the company has served more than 2,900 companies in total as of 2021.

Major shareholders include Incubate Fund (25.24% through two funds), Blue Monday (20.05%, founder and CEO Shota Nakagawa’s asset management company), WiL (11.1%), Daiwa Corporate Investment (9.33%), Strive (6.08%), CEO Nakagawa (3.54%), Gree Co-Invest (3.3%), SMBC Venture Capital (2.8%), Gunosy Capital (2.43%), Hideaki Ishikura (1.7%, managing director), Dip (1.21%, TSE:2379), and Yamaguchi Capital (1.21%).

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Japan’s Caster, offering WFH jobs for freelance workers, expanding into Germany, UAE

SCORE 1,055 Masaru Ikeda Masaru Ikeda
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Japanese WFH (work-from-home) jobs offering startup Caster, headquartered in the country’s western prefecture of Miyzaki, announced on Friday that it will be expanding into Germany and United Arab Emirates (UAE). The company plans to set up a local office in Berlin and Dubai within this year. Since its launched back in September of 2014, the company offers online assistance service in the categories like secretarial, human resources, accounting, translation, and other corporate tasks for startups and enterprises. The company had 1,500 remote staffers registered as of June while more than 3,000 companies have used the service so far. The company said that it has chosen Germany as its first step for global expansion because the country’s social environment and workforce are similar to those in Japan, which helps the company take advantage of their experience and schemes. With offices in Germany and the UAE, Caster plans to accelerate its expansion effort into the entire European region. The company has already begun recruiting local employees in Berlin and the rest of Germany on the the Japan-Germany Industrial Association website. In February, Caster announced that it has secured 1.3 billion yen (about $11.5 million US in the exchange rate at the time)…

Image credit: Caster

Japanese WFH (work-from-home) jobs offering startup Caster, headquartered in the country’s western prefecture of Miyzaki, announced on Friday that it will be expanding into Germany and United Arab Emirates (UAE). The company plans to set up a local office in Berlin and Dubai within this year.

Since its launched back in September of 2014, the company offers online assistance service in the categories like secretarial, human resources, accounting, translation, and other corporate tasks for startups and enterprises. The company had 1,500 remote staffers registered as of June while more than 3,000 companies have used the service so far.

The company said that it has chosen Germany as its first step for global expansion because the country’s social environment and workforce are similar to those in Japan, which helps the company take advantage of their experience and schemes. With offices in Germany and the UAE, Caster plans to accelerate its expansion effort into the entire European region. The company has already begun recruiting local employees in Berlin and the rest of Germany on the the Japan-Germany Industrial Association website.

In February, Caster announced that it has secured 1.3 billion yen (about $11.5 million US in the exchange rate at the time) in a Series D round, which brought their funding sum up to around 3 billion yen (about $21.5 million US in the exchange rate at the time) on an estimation basis. The Initial startup database estimates the company is valued over 12.3 billion yen (about $89 million US).

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