Nihon Shintatsu, a real estate company focused on tourism-driven markets in Japan, raised the proposed deal size for its upcoming IPO on Thursday.
The Otaru, Japan-based company now plans to raise $19 million by offering 3.8 million shares at a price range of $4 to $6. The company had previously filed to offer 1.3 million shares at the same range. At the revised deal size, Nihon Shintatsu will raise 200% more in proceeds than previously anticipated and command a market cap of $131 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, consulting services, as well as brokerage services.
Nihon Shintatsu 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. Spartan Capital Securities is the sole bookrunner on the deal.
