How did the Japanese IPO do this year ?
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IPO 2001
Q - How did the Japanese IPO do this year?
A. There were 169 IPOs in Japan this year. Total amount raised was 737 Billion¡¡Yen or approx. $5.8B US. This compares to 203 in 2000 but if you look at IPO in the US, which was just 98 deals, I think the IPO market in Japan did quite well despite the poor economy.
JASDAQ and NASDAQ Japan took most of the deals. 97 companies went public on JASDAQ OTC market while 43 companies went public on NASDAQ Japan.
The overall performance of Japanese IPOs were very good. The average Opening price increase for NASDAQ Japan was 74% while for JASDAQ 31%. There was a period in September which several IPO went under the offering price but many of theses deals subsequently recovered.
Q - What are some of the reasons there has been a big increase in new listings¡¡in Japan in the past few months? Has there been a change in market sentiment¡¡etc.?
A - December saw 30 IPOs which was the highest this year. Traditionally, the¡¡final quarter always brings large number of IPOs. Reason is that many company like to go public after they announce their half yearly result.
Second reason is that companies the postponed or delayed their IPO in September decided to file again in November for December IPO.
The Market sentiment for IPO stock changed in October when underwriters, sensed that the market was too weak for aggressive offering, lowered their pricing range and this attracted many bargain hunters.
We saw 6 IPO that doubled the price on opening day between last week of October to First week of November. E System a CRM system integrator's IPO increased by 5 fold on the opening price.
This gave a rush for filing in November and resulted in very busy December IPO.
Q - What's the outlook for the next year?
A - Out look for the year 2002 is very good. I have been interviewing key underwriters and they tell me that they expect to increase the number of offering by perhaps 20% or more.
Fact is that Japanese economy is going through a very drastic change and while many of the major companies are facing mounting problems, new venture companies are cropping up with new and exciting business ideas and doing a tremendous business.
Q - In terms of the types of companies that are listing- do you see a trend? For eg, are there more small sized going public now, compared to the Internet era.
A - Dot Com IPO is long gone. In terms of size of IPO, we will probably see more of the same under 1 Billion Yen IPOs. This year, we only saw 9 IPO that raised more than 10 Billion Yen ($80M) That's tiny 5% of deals. On the other hand, there were 79 IPOs that were under 1 Billion Yen ($8M) which is 46%, nearly half.
As long as the Japanese economy remains in the quagmire, this trend will continue.
In terms of types of companies going public, we will see trend in three key areas.
1. Restaurant chains
2. Healthcare services including drugstore chain
3. IT business which focuses on very narrow niche
END
Company name Code Market Date
OPN Yuke's 4334 NASJ 12/21
OPN Pacific Management 8902 JAQ 12/21
OPN Tohken 6738 JAQ 12/21
NEW IPS 4335 JAQ 12/20
NEW Advanced Technology an 6739 NASJ 12/20
OPN Marubeni Telecom 9447 TSE2 12/20
NEW Toho System Science 4333 JAQ 12/19
NEW Graphite Design 7847 JAQ 12/19
NEW AGP 9377 JAQ 12/19
NEW Pickles Corporation 2925 JAQ 12/18
NEW DaVinci Advisors 4314 NASJ 12/18
NEW Pasona 4332 NASJ 12/18
NEW Crie Anabuki 4336 JAQ 12/18
NEW Nomura Research Instit 4307 TSE1 12/17
NEW Pal 2726 JAQ 12/14
NEW ITX 2725 NASJ 12/14
NEW Movie Television 4328 JAQ 12/13
NEW Works Applications 4329 JAQ 12/13
NEW Kokusai Chart 3956 JAQ 12/12
NEW Take and give. needs 4331 NASJ 12/12
NEW Dynacity 8901 JAQ 12/12
NEW Celartem Technology 4330 NASJ 12/11
NEW Forval Creative 2724 NASJ 12/10
NEW SHL-Japan 4327 NASJ 12/10
NEW Shizuoka Gas 9543 TSE2 12/07
NEW Hanshin Dispensing Pha 2723 JAQ 12/07
NEW kawamoto 3604 OSE2 12/07
NEW Sei Crest 8900 JAQ 12/06
NEW Sparx Asset Management 8739 JAQ 12/04
NEW I . K 2722 JAQ 12/04
NEW DENTSU 4324 TSE1 11/30
NEW Intage 4326 JAQ 11/29
NEW J-home 2721 JAQ 11/28
NEW Bandai Visual 4325 JAQ 11/28
NEW Prime Link 2720 NASJ 11/22
NEW Century21 Real Estate 8898 JAQ 11/21
NEW Takara Leben 8897 JAQ 11/16
NEW Ryowa Life Create 8896 JAQ 11/14
NEW Japan System Technique 4323 JAQ 11/06
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tokyoipo.com
This year, we only saw 9 IPO that raised more than 10 Billion Yen ($80M) That's tiny 5% of deals. On the other hand, there were 79 IPOs that were under 1 Billion Yen ($8M) which is 46%, nearly half.
man kann also sagen, 5% der gesamten (internet-)ipo´s
in 2001 waren erfolgreich?
Gruss Kicky
Strategie
Die Positionen des Fonds werden aus dem japanischen OTC, dem neu gebildeten TSE-Mothers und dem Marktsegment NASDAQ Japan ausgewählt. Jene Titel, die dann in den TSE-2-Index oder in den TSE-1-Index aufrücken, werden jedoch nicht notwendigerweise verkauft.
Struktur und Zusammensetzung per 31.10.2001
Bestandteile
Dienstleistungen 34,2%
Verschiedenes 33,9%
Elektronik 9,4%
Lebensmittel 6,9%
Pharma 6,7%
Industrie 6,4%
Geldmarkt 2,5%
wann kommen die japaner aus der rezession?
wie verhält es sich mit dem eurostart?
beides sieht aktuell für japan nicht gut aus...
...aber für euroland & usa sehen die prognosen in 2002 besser aus. angeblich.
gruß
zick-zock