Japanese companies
Leading to NASDAQ listing
-Achieved through a reliable support system based on track record -
■ NASDAQ listing support consulting provided based on experience and track record
■We know the differences between the Japanese and American markets, and we can provide services that only a listed group can provide.
A highly specialized professional team with knowledge backed by the experience and track record of a group listed on NASDAQ!
Leveraging our wide network in Japan and the US, we will provide optimal solutions to meet the needs of Japanese companies aiming to be listed on NASDAQ and other US listings.
Providing service quickly!
Main support contents
Securities companies, auditing corporations,
Suggestion of optimal sitting group of specialized lawyers
Conversion of accounting standards to US-GAAP
Project PM/PMO work
・Audit support
・Advice regarding organizational restructuring
・Translation of materials
due diligence
Response support
Form S-1/F-1 creation support
What we are working on is not just the listing process.
Expand new possibilities for your business
This is a challenge for the future as it evolves to the next stage!
Flow of listing on Nasdaq
As with listing on the Japanese market, listing on NASDAQ starts with contract procedures with related parties such as securities companies, lawyers, and auditing firms. The listing process proceeds through the following steps:
-
Electronicization and Translation of Various Documents: It is necessary to scan and digitize documents such as contracts, invoices, and receipts, and not only that, but also to translate them into English using translation software, as they need to be disseminated to stakeholders located in the United States.
-
Due Diligence Response: U.S. lawyers will check electronically translated documents such as business plans and contracts and investigate the value and risks of companies aiming for listing. Documents will be prepared in accordance with the list provided by the lawyers.
-
Preparation of Financial Statements in Accordance with U.S. Standards: To list in the United States, financial statements in accordance with U.S. accounting standards are required, necessitating the conversion from Japanese standards to U.S. standards.
-
Audit Response by U.S. Auditors: U.S. auditors will conduct an audit of the financial statements for the past 2-3 periods. Following the list provided by the auditors, necessary financial information and audit evidence (invoices, receipts, etc.) will be prepared and submitted.
-
Drafting of Prospectus: Following the forms designated by the U.S. Securities and Exchange Commission (SEC) (F-1 or S-1), a prospectus will be drafted.
-
Examination by the U.S. Securities and Exchange Commission: The submitted prospectus will undergo scrutiny by the SEC. Approximately one month after the initial submission, comments will be sent by the SEC, and revisions will be made according to the comments.
-
Roadshow (Investor Presentation): To encourage institutional investors to purchase shares, an investor presentation, known as a roadshow, will be conducted.
While there are processes similar to listing in Japan, there are significant differences, such as the electronicization and translation of various documents, the preparation of financial statements following U.S. accounting standards, and handling audits by U.S. auditors. Particularly, expertise is required for the preparation of financial statements and audit response, and it may take additional time, so thorough preparation in advance is necessary.
In Japan, some companies aiming to go public face challenges in their plans despite a lengthy preparation period of three years. Every year, a certain number of companies abandon their listing plans. However, since internal control, considered the highest barrier, is exempted on NASDAQ, companies can achieve listing in a shorter timeframe. Moreover, the amount of funds raised is surprisingly high, and it is expected that the number of companies aspiring to list on NASDAQ will continue to grow. While NASDAQ presents hurdles for listing, leveraging outsourcing can make the process more manageable and not necessarily insurmountable.
Nasdaq listing support
Click here for desired managers
