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Japanese energy switching startup Enechange files for IPO

SCORE 39,179,329 Masaru Ikeda Masaru Ikeda
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See the original story in Japanese. Tokyo-based Enechange, the Japanese startup offering an electricity and gas switching platform for consumers under the same name, announced on Wednesday that IPO application to the Tokyo Stock Exchange (TSE) has been approved. The company will be listed on the TSE Mothers Market on December 23 with plans to offer 50,000 shares for public subscription and to sell 57,000 shares in over-allotment options for a total of 330,000 shares. The underwriting will be led by Mizuho securities while Enechange’s ticker code will be 4169. Based on the estimated issue price of 520 yen (about $5), the company will be valued at 2.99 billion yen (about 28.7 million). Its share price range will be released on December 3 with bookbuilding scheduled to start on December 7 and pricing on December 11. According to the consolidated statement as of December 2019, they posted revenue of 1.27 billion yen ($12.2 million) with an ordinary loss of 238 million yen ($2.3 million). Enechange was co-founded in April 2015 by serial entrepreneurs CEO Yohei Kiguchi COO Ippei Arita. The company offers a price comparison site for electricity, a phone service where customer representatives can assist consumers to choose the…

Image credit: Enechange

See the original story in Japanese.

Tokyo-based Enechange, the Japanese startup offering an electricity and gas switching platform for consumers under the same name, announced on Wednesday that IPO application to the Tokyo Stock Exchange (TSE) has been approved. The company will be listed on the TSE Mothers Market on December 23 with plans to offer 50,000 shares for public subscription and to sell 57,000 shares in over-allotment options for a total of 330,000 shares. The underwriting will be led by Mizuho securities while Enechange’s ticker code will be 4169.

Based on the estimated issue price of 520 yen (about $5), the company will be valued at 2.99 billion yen (about 28.7 million). Its share price range will be released on December 3 with bookbuilding scheduled to start on December 7 and pricing on December 11. According to the consolidated statement as of December 2019, they posted revenue of 1.27 billion yen ($12.2 million) with an ordinary loss of 238 million yen ($2.3 million).

Enechange was co-founded in April 2015 by serial entrepreneurs CEO Yohei Kiguchi COO Ippei Arita. The company offers a price comparison site for electricity, a phone service where customer representatives can assist consumers to choose the best electricity provider, as well as offering energy providers with cloud-based platforms such as EMAP (digital marketing SaaS) and SMAP (smartmeter-powered SaaS).

Led by CEO Kiguchi (23.86%), the company’s major shareholders include COO Arita (10.08%), Yasuyuki Ueno (8.00%), B Dash Ventures (7.62%), Energy Station Company Limited (7.61%), Bonds Investment Group (4.57%), EPCO (TSE:2311, 3.81%), Daiwa Energy Infrastructure (3.43%) and Spiral Capital (3.05%).

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Japan’s Enechange lands $4.4M to beef up marketing of energy price comparison site

Masaru Ikeda Masaru Ikeda
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The Japanese electric power industry was deregulated back in April of 2016. Since then, tech giants like Softbank and Rakuten have set up their subsidiaries to enter the new power supply market. In European countries that allow consumers to choose the power source from multiple suppliers, an outstanding vertical from the startup space is probably the energy price comparison site. Tokyo-based Enechange, the company offering an energy price comparison site under the same name, has announced that it has fundraised 500 million yen (about $4.4 million) from Opt Ventures and IMJ Investment Partners. This follows their 400 million yen (about $3.5 million) funding from Energy & Environment Investment as well as Hitachi (TSE:6501) back in February of 2016. Since its launch back in April of 2015, Enechange has been offering a power supplier switchover service for enterprises as well as a SIM card comparison site for companies and consumers. In partnership with UK-based SMAP Energy, a smart meter-based data analytics startup born from Cambridge University, the company has also been offering consulting services to electric power companies in Japan. Via Nikkei (paywalled) and TechCrunch Japan Edited by “Tex” Pomeroy

Image credit: 123RF

The Japanese electric power industry was deregulated back in April of 2016. Since then, tech giants like Softbank and Rakuten have set up their subsidiaries to enter the new power supply market. In European countries that allow consumers to choose the power source from multiple suppliers, an outstanding vertical from the startup space is probably the energy price comparison site.

Tokyo-based Enechange, the company offering an energy price comparison site under the same name, has announced that it has fundraised 500 million yen (about $4.4 million) from Opt Ventures and IMJ Investment Partners. This follows their 400 million yen (about $3.5 million) funding from Energy & Environment Investment as well as Hitachi (TSE:6501) back in February of 2016.

Since its launch back in April of 2015, Enechange has been offering a power supplier switchover service for enterprises as well as a SIM card comparison site for companies and consumers. In partnership with UK-based SMAP Energy, a smart meter-based data analytics startup born from Cambridge University, the company has also been offering consulting services to electric power companies in Japan.

Via Nikkei (paywalled) and TechCrunch Japan

Edited by “Tex” Pomeroy

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