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Japanese health salon operator ZEROSPO files for a $17 million US IPO

May 1, 2023

ZEROSPO, which owns, operates, and franchises medical and relaxation salons in Japan, filed on Monday with the SEC to raise up to $17 million in an initial public offering.

ZEROSPO is a medical and relaxation salon chain in Japan. The company believes its main differentiating feature is its employees, many of which are certified judo therapists and acupuncture and moxibustion therapists. ZEROSPO had 50 locations as of April 28, 2023, including 44 directly-operated and six franchised salons.

The Tokyo, Japan-based company was founded in 2001 and booked $14 million in revenue for the 12 months ended October 31, 2022. It plans to list on the Nasdaq but has not selected a symbol yet (RC ticker: ZSPO.RC). ZEROSPO filed confidentially on January 20, 2023. Boustead Securities is the sole bookrunner on the deal. No pricing terms were disclosed.