Recovery of Invested Capital and Generation of Capital Gains Through IPOs and Share Sales
First written in FY2017-Q1. 15 of 31 entries say "Advanced", first in FY2017-Q2. Latest entry: FY2026.
Japan Asia Investment moved to the "Worse" side of this theme in 2026.
0 other companies' latest entry also says "Softened".
- FY2026SoftenedAnnual report
「For the consolidated fiscal year (from 1 April 2025 to 31 March 2026), there were no applicable matters.」
There were no portfolio company IPOs during the year, down from 1 company in the previous year. No investment realization opportunity through an IPO was disclosed for the year. - 2026-05-15SoftenedRevision to earnings forecasts
「For the consolidated fiscal year (from 1 April 2025 to 31 March 2026), there were no applicable matters.」
The company stated that there were no IPOs during the consolidated fiscal year. - FY2025RestatedAnnual report
「ケイ・ウノ 8 October 2024 Nagoya Stock Exchange Next」
1 portfolio company completed an IPO in FY2025, the same number as in the previous fiscal year, and the investment multiple calculated based on the initial price was also 1.4x. - FY2024-Q2RestatedAnnual report
「During the six months ended the second quarter, 1 domestic portfolio company and no overseas portfolio companies newly listed, resulting in an investment multiple calculated based on the initial price of 1.4x.」
There was 1 domestic IPO during the cumulative period, and the investment multiple calculated based on the initial price was 1.4x. No additional listing beyond the IPO results identified through the previous quarter was disclosed. - FY2024-Q1AdvancedAnnual report
「During the three months ended the first quarter, 1 domestic portfolio company and no overseas portfolio companies newly listed, resulting in an investment multiple calculated based on the initial price of 1.4x.」
Portfolio company 日本システムバンク株式会社 listed in Japan, bringing the number of IPOs to 1. Progress in the sale of domestic listed and unlisted shares also increased realized capital gains to ¥532 million. - FY2023-Q3AdvancedAnnual report
「During the nine months ended the third quarter, 1 domestic portfolio company and no overseas portfolio companies newly listed, resulting in an investment multiple calculated based on the initial price of 30.0x.」
Portfolio company TMS Co.,Ltd. listed on the Tokyo Stock Exchange Growth market on 22 November 2022. There was 1 domestic IPO during the cumulative period, and the investment multiple calculated based on the initial price was 30.0x. - FY2023-Q2No IPOs; higher sales and realized capital gainsAnnual report
「Sales of investment securities held for operating purposes increased 108.0% year on year to ¥444 million. In private equity investments, sales of listed shares in Japan increased. In project investments, 1 mega-solar project was sold. Accordingly, realized capital gains, calculated as sales less the cost of sales, also increased 170.9% to ¥121 million.」
There were no IPOs during the cumulative period, but sales of domestic listed shares and a mega-solar project increased sales to ¥444 million and realized capital gains to ¥121 million. - FY2023-Q1No IPOs; higher sales and realized capital gainsAnnual report
「Sales increased 20.9% year on year to ¥171 million, as sales of listed shares and gains on the sale of unlisted shares in Greater China increased from the same period of the previous year. Realized capital gains, calculated as sales less the cost of sales, also increased 240.9% to ¥57 million.」
There were no IPOs during the quarter, but sales of domestic listed shares and unlisted shares in Greater China increased sales to ¥171 million and realized capital gains to ¥57 million. - FY2022AdvancedAnnual report
「During the consolidated fiscal year, Renewable Japan Co., Ltd., a strategic investment of the company, completed an IPO.」
Portfolio company IPOs totaled 4 during the year, and Renewable Japan Co., Ltd., a strategic investment, became the first strategic portfolio company to complete an IPO. - FY2022-Q3AdvancedAnnual report
「During the nine months ended the third quarter, Renewable Japan Co., Ltd., a strategic investment of the company, completed an IPO.」
Renewable Japan Co., Ltd., a strategic investment, listed on the Tokyo Stock Exchange Mothers market on 22 December 2021. The cumulative number of domestic IPOs for the quarter was 3, and the investment multiple calculated based on the initial price was 5.6x. - FY2022-Q2RestatedAnnual report
「During the six months ended the second quarter, 1 domestic portfolio company and no overseas portfolio companies newly listed, resulting in an investment multiple calculated based on the initial price of 1.6x.」
There was 1 domestic IPO during the cumulative period, and the investment multiple calculated based on the initial price was 1.6x. This was within the IPO results identified through the previous quarter, and no additional listing progress was disclosed. - FY2022-Q1AdvancedAnnual report
「During the three months ended the first quarter, 1 domestic portfolio company and no overseas portfolio companies newly listed, resulting in an investment multiple calculated based on the initial price of 1.6x.」
WonderPlanet Inc. listed in Japan, bringing the number of IPOs during the quarter to 1. - FY2021ReframedAnnual report
「When realizing investments, we will pursue a range of sale opportunities, including sales through M&A, rather than relying solely on new listings.」
The company explicitly stated its policy of pursuing multiple investment realization methods, including sales through M&A, rather than focusing investment realizations on IPOs. - FY2021-Q3AdvancedAnnual report
「Domestic: 2 companies Overseas: – companies」
During the nine months ended the third quarter, 2 portfolio companies listed in Japan. FunPep Company Limited and Kringle Pharma,Inc. listed on the Tokyo Stock Exchange Mothers market, resulting in a domestic initial-price multiple of 2.3x. - FY2021-Q2RestatedAnnual report
「Six months ended the second quarter (from 1 April 2020 to 30 September 2020): No relevant matters.」
There were no portfolio company IPOs during the cumulative period, and no material change from the previous quarter was disclosed. - FY2021-Q1SoftenedAnnual report
「Neither during the six months ended the first quarter nor in the same period of the previous year did any portfolio companies complete IPOs.」
There were no portfolio company IPOs during the quarter, and no investment realization opportunity through an IPO was identified. - FY2020-Q3AdvancedAnnual report
「During the nine months ended the third quarter, 2 domestic and 1 overseas portfolio companies newly listed, with initial-price multiples of 8.8x domestically and 8.6x overseas.」
Portfolio company IPOs increased from 1 domestic company in the same period of the previous year to 3 companies in total, comprising 2 domestic and 1 overseas company. - FY2020-Q2AdvancedAnnual report
「During the six months ended the second quarter, 2 domestic portfolio companies newly listed, with an initial-price multiple of 8.8x.」
Portfolio companies StemRIM Inc. and PBsystems,Inc. listed in Japan, increasing investment realization opportunities through IPOs from zero in the same period of the previous year to 2 companies. By the filing date, the disclosure also recorded the US NASDAQ listing of China's Fangdd Network Group Ltd. - FY2020-Q1SoftenedAnnual report
「Neither during the six months ended the first quarter nor in the same period of the previous year did any portfolio companies complete IPOs.」
Although 2 portfolio companies completed IPOs in the previous consolidated fiscal year, there were no IPOs during the quarter, and no investment realization opportunity through an IPO was identified. - FY2019AdvancedAnnual report
「A total of 2 domestic portfolio companies and no overseas portfolio companies completed IPOs. Both received high market valuations as AI-related stocks, resulting in higher initial-price multiples than in the previous consolidated fiscal year.」
VALUE NEX and Minkabu the Infonoid, 2 domestic companies, completed IPOs, resulting in a domestic initial-price multiple of 9.7x. - FY2019-Q3AdvancedAnnual report
「During the nine months ended the third quarter, VALUENEX Japan Inc. completed an IPO, and its initial-price multiple was 10.8x, a higher level than in the same period of the previous year and the previous consolidated fiscal year.」
Portfolio company VALUENEX Japan Inc. completed an IPO, with an initial-price multiple of 10.8x. There was 1 domestic portfolio company IPO, while sales of investment securities held for operating purposes were ¥649 million and realized capital gains were ¥347 million. - FY2019-Q2SoftenedAnnual report
「Six months ended the second quarter (from 1 April 2018 to 30 September 2018): No portfolio companies newly listed during the period.」
There were no IPOs during the cumulative period, and in the absence of portfolio company IPOs or sales of large investments, sales of investment securities held for operating purposes were ¥209 million and realized capital gains were ¥0 million. - FY2019-Q1SoftenedAnnual report
「Neither during the six months ended the first quarter nor in the same period of the previous year did any portfolio companies complete IPOs.」
There were no IPOs during the quarter, and sales of investment securities held for operating purposes declined to ¥81 million, while realized capital gains declined to ¥13 million. - FY2018SoftenedAnnual report
「A total of 2 portfolio companies, 1 domestic and 1 overseas, completed IPOs. In the previous consolidated fiscal year, 5 domestic companies completed IPOs, including share exchanges with already listed companies.」
Portfolio company IPOs totaled 2, comprising 1 domestic and 1 overseas company, down from 5 domestic companies in the previous year. The disclosure also noted declines in domestic IPOs and sales of overseas unlisted shares. - FY2018-Q3AdvancedAnnual report
「A total of 2 portfolio companies, 1 domestic and 1 overseas, completed IPOs. In the same period of the previous year, 4 domestic companies completed IPOs, including share exchanges with already listed companies.」
During the cumulative period, 2 portfolio companies, 1 domestic and 1 overseas, completed IPOs. - FY2018-Q2AdvancedAnnual report
「1 overseas portfolio company completed an IPO. In the same period of the previous year, 2 domestic companies completed IPOs, including share exchanges with already listed companies.」
During the cumulative period, 1 overseas portfolio company completed an IPO. Meanwhile, sales of shares in domestic unlisted companies declined from the same period of the previous year. - FY2018-Q1SoftenedAnnual report
「Although we proceeded with the sale of shares in domestic companies that had already completed IPOs, sales of shares in domestic unlisted companies declined, causing sales of investment securities held for operating purposes to fall 73.6% year on year to ¥236 million. Accordingly, realized capital gains, calculated as sales less the cost of sales, declined 68.8% to ¥164 million.」
Sales of shares in listed companies continued, but sales of unlisted companies declined, causing sales and realized capital gains to fall well below the same period of the previous year. There were no IPOs during the quarter. - FY2017AdvancedAnnual report
「During the consolidated fiscal year, 5 domestic portfolio companies and no overseas portfolio companies, for a total of 5 companies, completed IPOs, including 1 domestic company that completed a share exchange with a listed company.」
Portfolio company IPOs totaled 5 for the year, while sales of shares by maturing funds and sales of shares in IPO companies also progressed. Sales of investment securities held for operating purposes totaled ¥3,184 million. - FY2017-Q3AdvancedAnnual report
「During the nine months ended the third quarter, 4 domestic portfolio companies and no overseas portfolio companies, for a total of 4 companies, completed IPOs, including 1 domestic company that completed a share exchange with a listed company. Regarding investment performance in Japan, sales of shares in companies invested in by funds reaching maturity progressed, as did sales of shares in companies that completed IPOs. As a result, sales of investment securities held for operating purposes increased 14.1% year on year to ¥2,948 million.」
The cumulative number of portfolio company IPOs reached 4, and sales increased to ¥2,948 million due to share sales by maturing funds and sales of shares in IPO companies. Meanwhile, realized capital gains were ¥927 million, down 18.6% year on year. - FY2017-Q2AdvancedAnnual report
「During the six months ended the second quarter, 2 domestic portfolio companies and no overseas portfolio companies, for a total of 2 companies, completed IPOs, including 1 domestic company that completed a share exchange with a listed company. In the same period of the previous year, the figures were 2 domestic companies, 1 overseas company and 3 companies in total. For the consolidated fiscal year, we plan to continue generating gains on sales, primarily through the sale of shares in unlisted companies.」
2 portfolio companies completed IPOs, and the company indicated plans to generate gains on sales during the year, primarily through the sale of shares in unlisted companies. - FY2017-Q1First statedAnnual report
「In Japan, we completed the sale of a larger unlisted portfolio company than in the same period of the previous year. We also proceeded with share sales of portfolio companies that had already been listed, while monitoring their respective share price movements. As a result, sales of investment securities held for operating purposes increased 22.0% year on year to ¥897 million, while realized capital gains from those sales increased 42.2% to ¥527 million.」
Investment realizations have been achieved through the sale of unlisted portfolio companies, sales of shares in listed portfolio companies, and IPOs.