Pepper Food Service, the operator of Ikinari! Steak, which had filed for a Nasdaq listing with the SEC on September 3, 2018, has successfully received approval and was listed on Nasdaq on September 28. This makes it the third currently listed Japanese company on Nasdaq, following IIJ and Fronteo. The most recent Nasdaq listing by a Japanese company was Fronteo in 2013, making this the first in five years.
While giant corporations like Apple and Google are listed on Nasdaq, it is also home to many startup companies, such as ASLAN Pharmaceuticals, a Singaporean pharmaceutical company that listed in May 2018 with zero consolidated revenue and a pre-tax loss of $40 million (approximately 4.0 billion JPY at an exchange rate of $1=100 JPY). Although the Tokyo Stock Exchange Mothers market does not necessarily require sales or profits for listing, in reality, it is extremely difficult for a company that has not established a pillar of revenue to list in Japan.
In contrast, the U.S. securities market tends to place a higher value on the potential of intellectual property and business models created by companies. It is believed that, in the future, companies with new businesses and new ideas will increasingly gather (on Nasdaq) from all over the world.
Following the listing of Pepper Food Service, we have updated the “U.S. Securities Market Guide Part 3: Nasdaq Listing by Japanese Companies (Part 2).” Please take a look at that article as well.
Additionally, please see this article regarding the Pepper Food Service Nasdaq listing.
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