FEATURED INSIGHT · IPO Monitor

Japanese Nasdaq IPO Monitor — pipeline, filings and performance

A running monitor of Japanese companies listing on Nasdaq and the NYSE: the current IPO pipeline, deals on file with the SEC, and how the names that already listed are trading against their offer price.

2026.08.25·EditorialADBTKOEISEAHTYAMJSTTAMTU
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JP → US IPO Market Snapshot
19
listed & trading
▼-78.6%
median vs IPO
1/19
above IPO
8
on file
Full databaseEvery Japanese company on US markets — incl. delisted
36 cos19 listed8 filed5 delisted4 withdrawn
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Scheduled / Pipeline

予定・パイプラインView all ›
StatusCompanyDeal SizePrice Range
FiledONDROnodera (Sushi)~$8.0M$7.00–8.00
FiledLBRJLibera Gaming~$6.0M—
FiledSEAHSeahawk Recycling Holdings~$31.3M$4.00–6.00
FiledGTSGGates Group~$6.0M$5.50–6.50
FiledKOEIKoei Group~$19.0M—
FiledTYAMTY AM Group~$18.8M$4.00-6.00
FiledAMTUAmatuhi Holdings~$24.0M$7.00-9.00
FiledJSTTNihon Shintatsu~$18.8M$4.00-6.00
Withdrawn / abandoned

* An assessment, not a confirmed status. Where no formal withdrawal has been filed, we infer a dormant or abandoned registration from the public filing record and the time elapsed since the issuer's most recent prospectus amendment. The actual status may differ.

Movers

値動き
#CompanyIPO PriceCurrentChange
1PCLAPicoCELA$4.00$6.65▲+66.3%
2RYOJRyojbaba$4.00$3.99▼-0.2%
3LAWRRobot Consulting$4.00$3.75▼-6.3%
4LFSLeifras$4.00$2.15▼-46.3%
5SBCShonan Beauty Clinic (de-SPAC)$10.00$5.14▼-48.6%
6TOYOToyo Co.$10.00$4.47▼-55.3%
7CTWCTW Gaming$5.00$2.02▼-59.6%
8THHTryHard Holdings$4.00$1.58▼-60.4%
9MWCMicware Co., Ltd$8.00$1.78▼-77.8%
10TKLFYoshitsu (Tokyo Lifestyle)$8.00$1.72▼-78.6%
PROV. · Deal data from SEC and issuer filings; prices as of the latest close (split-adjusted).

Recently Listed

最近の上場View all ›
DateCompanyIPO PriceCurrentChange
2026.08.25ADBTAdvasa Holdings$10.00$0.13▼-98.7%
2026.05.14MWCMicware Co., Ltd$8.00$1.78▼-77.8%
2025.10.09LFSLeifras$4.00$2.15▼-46.3%
2025.08.28THHTryHard Holdings$4.00$1.58▼-60.4%
2025.08.05CTWCTW Gaming$5.00$2.02▼-59.6%
2025.08RYOJRyojbaba$4.00$3.99▼-0.2%
2025.07.17LAWRRobot Consulting$4.00$3.75▼-6.3%
2025.03.25LGPSLogProstyle$4.00$0.82▼-79.4%
PROV. · Deal data from SEC and issuer filings; prices as of the latest close (split-adjusted).

Recently Filed

最近の提出View all ›
DateCompanyDeal SizeUnderwriter
2026.06.29KOEIKoei Group~$19.0MRoth Capital
2025.12.19TYAMTY AM Group~$18.8MD. Boral Capital
2025.09.25SEAHSeahawk Recycling Holdings~$31.3MCathay
2025.09.15AMTUAmatuhi Holdings~$24.0MSpartan Capital
2025.09.04JSTTNihon Shintatsu~$18.8MSpartan Capital
2024.11.08GTSGGates Group~$6.0MLoop Capital
2023.12.27ONDROnodera (Sushi)~$8.0MThinkEquity
—LBRJLibera Gaming~$6.0MBoustead

Cross-Border IPO Activity

クロスボーダーIPO動向View all ›
19
Japan→US listings
8
In pipeline
$193.5M
Total raised PROV.
$11.5M
Avg. raise PROV.
By issuer region (US listings, trailing 12 mo.) PROV.
RegionDealsAvg. raiseMedian return
Japan●9$13.0M▲+12%
China34$11.0M▼-6%
SE Asia16$9.0M▼-3%
Other Asia12$10.0M▲+2%

Deal Market Review

ディール市場レビューProprietary equal-weight index (sample). PROV.
Market Reviews市場レビュー
  • Japanese Nasdaq IPO Monitor — pipeline, filings and performance2026.08.25 · IPO Monitor
  • Why Japanese microcaps fall after their Nasdaq debut2026.06.12 · Analysis
  • The bookrunners behind Japan's Nasdaq IPOs: D. Boral Capital, Boustead, Kingswood2026.06.08 · Analysis
  • ADR vs direct listing (KK): choosing the structure for a Japanese issuer2026.06.03 · Practitioner
  • What a US listing costs a Japanese issuer2026.05.28 · Practitioner
  • Why Japanese companies are choosing Nasdaq2026.05.28 · Analysis
View all ›
Japan→US Deal Market日本→米国 ディール市場
020406080036912$12M'20$43M'22$80M'23$7M'24$67M'25$23M'26
Proceeds (US$M)# Deals
$232Mtotal raised
24offerings
$10Mavg deal
’23top year
JP→Nasdaq IndexJP→Nasdaq 指数
37.8index level (IPO = 100)
PCLA 66.3%RYOJ -0.2%LAWR -6.3%LFS -46.3%SBC -48.6%TOYO -55.3%CTW -59.6%THH -60.4%MWC -77.8%TKLF -78.6%LGPS -79.4%LRE -84.4%PDC -87.1%XHLD -88.4%WRNT -88.8%MRM -93.8%LGCB -95.3%HTCR -98.4%ADBT -98.7%
Median -78.6%Average -62.2%Above IPO 1/19Best PCLA +66.3%Worst ADBT -98.7%
How we calculate this index ›