KDDI CORPORATION
SORACOM, INC.
November 20,2023
-- KDDI CORPORATION and SORACOM, INC. today announced that SORACOM has applied to list its shares on the Tokyo Stock Exchange.
KDDI and SORACOM, as described in news release on February 3, 2023 SORACOM Withdrawals Application for Listing on Tokyo Stock Exchange, publicly announced to withdraw its application for listing on the Tokyo Stock Exchange based on a comprehensive review of the market conditions etc. This time, based on the economic environment and market trends, SORACOM has resumed listing procedures and applied for stock listing on the Tokyo Stock Exchange.
SORACOM joined the KDDI Group in August 2017. Since then, SORACOM has grown its IoT business.
SORACOM, an IoT connectivity platform, is being utilized as a communication service that connects over 6 million devices [
1] across various industries such as energy, manufacturing, finance, consumer products, healthcare, and agriculture, by over 20,000 customers worldwide. From day one, SORACOM has been aiming to become a global platform which supports customers who create a connected society. To further accelerate its own business growth and global expansion, SORACOM began preparation for a potential public offering in the form of a swing-by IPO. [
2]
KDDI will support the listing of globally viable startup companies like SORACOM.
Prior to any such listing, it is necessary to obtain listing approval from the Tokyo Stock Exchange after undergoing listing examination by the Japan Exchange Self-Regulatory Corporation. This application does not establish any specific commitments regarding listing availability or timing.
Company Info Company Name SORACOM, INC.
Address 9F Sumitomo Fudosan Motoakasaka Bldg 1-5-12, Motoakasaka Minato-ku, Tokyo, Japan
Name and Title of Representative Ken Tamagawa CEO
Main Business Providing the IoT platform SORACOM
Capital Stock 3,727 million yen (including capital reserve)
Date of Establishment November 2014
[1]
Total number of SORACOM Air connections including those provided by international entities, SORACOM Air for Cellular, Sigfox, and LoRaWAN.
News release on October 25, 2023
Contracted Connections for IoT Platform SORACOM Surpass 6 Million (in Japanese only)
[2]
Swing-by is a term in space exploration that describes the maneuver where a spacecraft utilizes the gravity of a planet to accelerate. KDDI and SORACOM refer to the process where startups receive support from large corporations to grow and aim for an initial public offering (IPO) as Swing-by IPO.
This press release has been prepared for the sole purpose of publicly announcing that the Company has applied to list its shares on the Tokyo Stock Exchange, and not for the purpose of soliciting investment or engaging in any other similar activities within or outside Japan. This press release does not constitute or form a part of any offer or solicitation to purchase or subscribe for securities in the United States. Any securities may not be offered or sold in the United States absent registration or an exemption from registration under the U.S. Securities Act of 1933. If any public offering of securities is made in the United States, it will be made by means of an English language prospectus prepared in accordance with the U.S. Securities Act of 1933.
The information contained in the news releases is current at the time of publication. Products, service fees,service content and specifications, contact information, and other details are subject to change without notice.
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