Nihon Shintatsu, a real estate company focused on tourism-driven markets in Japan, filed on Thursday with the SEC to raise up to $6 million in an initial public offering.
The company plans to raise $6 million by offering 1.3 million shares at a price range of $4 to $6. At the midpoint of the proposed range, Nihon Shintatsu would command a market cap of $114 million.
The company is a real estate company primarily engaged in the acquisition, enhancement, and resale of real estate assets in tourism-driven markets across the Japanese island of Hokkaido. The company centers on identifying underutilized properties in high-potential tourist areas, with revenue primarily generated by sales of its real estate property (42% of FY25 revenue), consulting services (31%), as well as brokerage services (21%).
The Otaru, Japan-based company was founded in 2016 and booked $5 million in revenue for the 12 months ended April 30, 2025. It plans to list on the Nasdaq under the symbol JSTT. Nihon Shintatsu filed confidentially on July 21, 2025. Spartan Capital Securities is the sole bookrunner on the deal.
