On June 19 2018, the Mercari company that operates the world’s largest free-trade market application was listed on the TSE Mothers (Tokyo Stock Exchange). According to the chief securities officer of Daiwa Securities, its publicly-offered shares application ratio was 35 times. Needless to say there was a flood of people buying the stock on its first day and the trade was established with an initial price of 5,000 yen (est. US$ 45) against the opening public price of 3,000 yen (est. US$ 27) . The first day's highest value was 6,000 yen (est. US$ 54) per share and the total market capitalization reached about 7,000 billion yen (est. US$ 63 billion) . Unexpectedly, the first day of the listing appeared so smoothly and on the second day dropped to 4,000 yen (est. US$ 36) which had industry stakeholders a bit uneasy. The amount of funds absorbed by this listing is an estimate of 100 billion yen (est. US$ 903 million) , which is expected to be used for investing in advertising and other investments in the United States.
*today’s rate 1.00 JPY = 0.009076 USD