Soracom Applies for Listing on the Tokyo Stock Exchange
TOKYO — November 18, 2022 — KDDI CORPORATION and SORACOM, INC, a global provider of advanced IoT connectivity services, today announced 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 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.
From day one, Soracom has 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 Business: 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.
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.