SORACOM applies for listing on Tokyo Stock Exchange
Tokyo, Japan. KDDI Corporation and Soracom, INC, a global provider of advanced IoT connectivity services, report that SORACOM has applied to list its shares on the Tokyo Stock Exchange.
Soracom joined the KDDI Group in August 2017. Since then, Soracom has grown its Internet of Things (IoT) connectivity platform to support over 5 million IoT connections* for more than 20,000 customers worldwide in industries ranging from energy and manufacturing to payments, consumer electronics, healthcare, and agriculture.
Soracom has always made its mission to deliver a global connectivity platform that accelerates speed to market for the teams building tomorrow’s connected world and helps them to pursue success at any scale.
To further accelerate its own business growth and global expansion, Soracom began preparation for a potential public offering in 2020. KDDI and SORACOM describe this as a “swing-by” IPO, in which a startup grows with the support of a larger company prior to public offering, as if a space probe accelerates using the gravitational mass of a planet. With appropriate corporate governance systems now in place and demonstrated capacity for independent management, Soracom has now applied to list its shares on the Tokyo Stock Exchange.
Prior to any such listing, it is necessary to obtain listing approval from the Tokyo Stock Exchange and complete examination by the Japan Exchange Regulation. This application does not establish any specific commitments regarding listing availability or timing.
|Company Name||SORACOM, INC.|
|Address||3F Ojima Building, 4-5-6 Tamagawa, Setagaya-ku, Tokyo, Japan|
|Name and Title of Representative||CEO Ken Tamagawa|
|Main Businesses||Providing the IoT platform “SORACOM”|
|Capital Stock||3,727 million yen (including capital reserve)|
|Date of Establishment||November 2014|
Total number of SORACOM Air connections including those provided by international entities, SORACOM Air for Cellular, Sigfox, and LoRaWAN.
Comment on this article below or via Twitter @IoTGN