(Interview Part 1) The Challenge of a Nasdaq IPO: The Path Forged by Kura Sushi USA ~The Former CFO Recounts the Two-Year Journey to Listing~
Please note that the original article is in Japanese. The following is a summary of its content. Introduction: A Dialogue on the Nasdaq Journey This article is Part 1 of an interview with Mr. Koji Shinohara, the former CFO of Kura Sushi USA, Inc. (KSUSA) who led its 2019 Nasdaq IPO and has now joined …
SEC Moves to Strengthen SPAC Disclosure Regulations
On January 24, 2024, the U.S. Securities and Exchange Commission (SEC) adopted new rules and amendments aimed at enhancing disclosures and adding investor protections in initial public offerings (IPOs) by Special Purpose Acquisition Companies (SPACs) and in their subsequent de-SPAC transactions (LINK). Background of Strengthened SPAC Regulations These changes were essentially a foregone conclusion, having …
HW ELECTRO Files for Nasdaq Listing
(Image courtesy of the HW ELECTRO website.) On November 8, 2023, HW ELECTRO Co., Ltd., a manufacturer and seller of the “ELEMO” light commercial EV truck, filed a Registration Statement (Form F-1) with the U.S. Securities and Exchange Commission (SEC) for a proposed Nasdaq listing. (Source: HW ELECTRO Press Release) HW ELECTRO’s Path to Nasdaq …
Accounting Treatment of Goodwill in SPAC Mergers
The original article is in Japanese. The following is a summary of its content. The Rise of Goodwill Impairment in SPAC Deals A Wall Street Journal article in April 2023 highlighted that companies which went public via Special Purpose Acquisition Companies (SPACs) have recorded significant goodwill write-downs. This trend suggests that initial acquisition prices may …
Lead-Real Estate Lists on Nasdaq
(Image courtesy of the Lead-Real Estate website.) On September 27, 2023, LEAD-REAL ESTATE CO., LTD, a company specializing in the planning and development of luxury condominiums, luxury apartments, and luxury single-building residences, was listed on the Nasdaq Global Market. (Source: Company Press Release) Lead-Real Estate’s Path to Nasdaq Listing The first confidential filing as a Draft …
Recent Status of Nasdaq IPOs by Japanese Companies (September 2023)
The movement of Japanese companies aiming for Nasdaq continues to accelerate. This year, AERWINS Technologies Inc. (the holding company of A.L.I. Technologies) listed via SPAC in February, and Syla Technologies Co., Ltd. conducted an IPO in March. Following them, Earlyworks Co., Ltd. and Warrantee Inc. listed in July, Pixie Dust Technologies, Inc. in August, and …
Our Technical Advisor Mr. Hamajima Has Published an Article on the New Lease Accounting Standards
The Exposure Draft No. 73, “Accounting Standard for Leases (Tentative Draft),” and the “Implementation Guidance on Accounting Standard for Leases (Tentative Draft),” released on May 2, 2023, will require lessees to recognize assets and liabilities for, in principle, all lease transactions. This new standard is expected to become mandatory as early as the fiscal year …
Announcing Seminar: The Realities of a NASDAQ Listing
~Candid Talk~ [IN-PERSON ONLY] We are pleased to announce that our firm will be hosting a conversational-style seminar on the realities of listing on Nasdaq. ◆Seminar Overview Recently, the movement of Japanese companies listing on Nasdaq has been accelerating. In 2019, Kura Sushi USA, Inc. listed, followed by Medirom Healthcare Technologies Inc. in 2020, Yoshitsu …
JEPLAN to List on NYSE via SPAC
(Image courtesy of the JEPLAN website.) On June 16, 2023, JEPLAN, Inc. (formerly Japan Environment Planning Co., Ltd.; “JEPLAN”) announced that it had entered into a definitive business combination agreement with AP Acquisition Corp (NYSE: APCA), a Special Purpose Acquisition Company (SPAC). The transaction is scheduled to be completed within 2023. JEPLAN aims to globalize …
Recent Status of Nasdaq IPOs by Japanese Companies (June 2023)
The Movement of Japanese Companies Aiming for Nasdaq Continues This year, AERWINS Technologies Inc. (the holding company of A.L.I. Technologies) listed via SPAC in February, and Syla Technologies Co., Ltd. conducted an IPO in March. Following this, on June 7, Mediagene Inc. announced (Here) that it would list on Nasdaq via a SPAC merger, integrating …