Announcement • Jan 31
WealthNavi Inc. to Delist from Growth Section of the Tokyo Stock Exchange, Effective March 04, 2025 WealthNavi Inc. will be delisted from Growth Section of the Tokyo Stock Exchange effective from March 04, 2025, due to acquisition by a demand for share, etc. cash-out. Announcement • Jan 03
WealthNavi Inc. to Report Fiscal Year 2024 Results on Feb 14, 2025 WealthNavi Inc. announced that they will report fiscal year 2024 results at 3:00 PM, Tokyo Standard Time on Feb 14, 2025 Announcement • Nov 30
Mitsubishi UFJ Reportedly to Acquire WealthNavi Mitsubishi UFJ Financial Group, Inc. (TSE:8306) plans to acquire Japanese robo-advisory firm WealthNavi Inc. (TSE:7342) to reinforce its asset management services targeting individual customers, people familiar with the matter said 29 November 2024. MUFG Bank (MUFG Bank, Ltd.), a unit of Mitsubishi UFJ Financial, plans to take full control of WealthNavi through a tender offer. The bank acquired a stake of over 15% in WealthNavi in March. Mitsubishi UFJ Financial plans to use WealthNavi to expand services that offer financial products via smartphone apps. Reported Earnings • Nov 19
Third quarter 2024 earnings released: EPS: JP¥2.26 (vs JP¥4.15 in 3Q 2023) Third quarter 2024 results: EPS: JP¥2.26 (down from JP¥4.15 in 3Q 2023). Revenue: JP¥1.59b (down 27% from 3Q 2023). Net income: JP¥134.1m (down 34% from 3Q 2023). Profit margin: 8.4% (down from 9.4% in 3Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 27% p.a. on average during the next 3 years, compared to a 5.3% growth forecast for the Capital Markets industry in Japan. Over the last 3 years on average, earnings per share has increased by 93% per year but the company’s share price has fallen by 31% per year, which means it is significantly lagging earnings. Announcement • Sep 03
WealthNavi Inc. to Report Q3, 2024 Results on Nov 13, 2024 WealthNavi Inc. announced that they will report Q3, 2024 results on Nov 13, 2024 Reported Earnings • Aug 14
Second quarter 2024 earnings released: EPS: JP¥0.89 (vs JP¥3.72 in 2Q 2023) Second quarter 2024 results: EPS: JP¥0.89 (down from JP¥3.72 in 2Q 2023). Revenue: JP¥1.33b (down 31% from 2Q 2023). Net income: JP¥49.9m (down 73% from 2Q 2023). Profit margin: 3.8% (down from 9.4% in 2Q 2023). Revenue is forecast to grow 28% p.a. on average during the next 3 years, compared to a 4.0% growth forecast for the Capital Markets industry in Japan. Over the last 3 years on average, earnings per share has increased by 107% per year but the company’s share price has fallen by 33% per year, which means it is significantly lagging earnings. New Risk • Jul 17
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Japanese stocks, typically moving 7.3% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (7.3% average weekly change). Minor Risks Large one-off items impacting financial results. Shareholders have been diluted in the past year (21% increase in shares outstanding). Announcement • Jun 06
WealthNavi Inc. to Report Q2, 2024 Results on Aug 09, 2024 WealthNavi Inc. announced that they will report Q2, 2024 results on Aug 09, 2024 Reported Earnings • May 20
First quarter 2024 earnings released: JP¥2.29 loss per share (vs JP¥0.51 loss in 1Q 2023) First quarter 2024 results: JP¥2.29 loss per share (further deteriorated from JP¥0.51 loss in 1Q 2023). Revenue: JP¥2.47b (up 40% from 1Q 2023). Net loss: JP¥120.0m (loss widened 380% from 1Q 2023). Revenue is forecast to grow 22% p.a. on average during the next 3 years, compared to a 4.8% growth forecast for the Capital Markets industry in Japan. Announcement • May 08
WealthNavi Inc. Launches an Online Insurance Advisory Service WealthNavi Inc. announced that the company launched an online insurance advisory service which assists its users to select and review life insurance products on May 7, 2024. The company initially provides the new insurance advisory service to the existing users of WealthNavi, and then to a wider range of users in the near future. The company has been providing its robo-advisor service WealthNavi, a fully automated end-to-end wealth management service, to support working families build wealth for their comfortable retirement through a long-term, globally diversified investment. In January 2024, the Company launched new Robo-NISA which is fully aligned with New NISA started in the same month, and the number of WealthNavi users exceeded 380,000. Combining life insurance and investment in NISA account: The company suggests users to subscribe insurance to prepare for immediate contingencies while to build and maintain a long-term, globally diversified investment portfolio for a more comfortable retirement. The optimal insurance coverage evolves depending on life stages and financial conditions. It is challenging for busy working families to adjust the balance between insurance and investment while choosing the most suitable insurance products. The new service will advise when and which insurance users should subscribe, considering the life stages and financial conditions. The insurance assessment and application process will be completed online, and the service is available for busy working families whenever it is convenient for them. Main features of the service: Visualizes the needed amount in case of contingencies in about 3 minutes: The company provides a life plan simulator for free to assess the coverage amount needed in case of contingencies. The estimated amount needed will be automatically calculated by entering data on yourself and family as well as answering questions about life plan. It takes about 3 minutes for the simulation; Suggests an optimal insurance product to cover the financial shortage: The service suggests an optimal insurance product for the user based on the assessment by the life plan simulator. The service chooses the most suitable product among insurance products offered by FWD Life Insurance Company and Zurich Life Insurance Japan Company. The company mediates life insurance contracts between users and life insurance companies as an insurance agency, and it does not hold an authority of agency or notice of acceptance. Users visit the website of an insurance companies to complete the application process. The data entered in the life plan simulator and the suggested insurance product are to be transferred to the insurance companies so that the application process would be easier and more convenient for users. User-friendly interface /Customer support via telephone: The service interface is simple and easy to use. In addition, users can contact customer support through telephone. Board Change • Apr 10
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Outside Director Hideto Ito was the last director to join the board, commencing their role in 2024. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Mar 29
Full year 2023 earnings released: EPS: JP¥7.64 (vs JP¥6.06 in FY 2022) Full year 2023 results: EPS: JP¥7.64 (up from JP¥6.06 in FY 2022). Revenue: JP¥8.12b (up 24% from FY 2022). Net income: JP¥375.0m (up 30% from FY 2022). Profit margin: 4.6% (up from 4.4% in FY 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 21% p.a. on average during the next 3 years, compared to a 5.3% growth forecast for the Capital Markets industry in Japan. Over the last 3 years on average, earnings per share has increased by 126% per year but the company’s share price has fallen by 22% per year, which means it is significantly lagging earnings. Announcement • Mar 07
WealthNavi Inc. to Report Q1, 2024 Results on May 15, 2024 WealthNavi Inc. announced that they will report Q1, 2024 results on May 15, 2024 Announcement • Mar 04
WealthNavi Inc. announced that it has received ¥15.65098 billion in funding from Mitsubishi UFJ Financial Group, Inc. On March 4, 2024, WealthNavi Inc. closed the transaction. Price Target Changed • Feb 29
Price target increased by 18% to JP¥2,287 Up from JP¥1,930, the current price target is an average from 3 analysts. New target price is approximately in line with last closing price of JP¥2,227. Stock is up 81% over the past year. The company is forecast to post earnings per share of JP¥29.68 for next year compared to JP¥7.65 last year. New Risk • Feb 22
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 2.1% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (11% average weekly change). Minor Risk Shareholders have been diluted in the past year (2.1% increase in shares outstanding). Reported Earnings • Feb 16
Full year 2023 earnings released: EPS: JP¥7.64 (vs JP¥6.06 in FY 2022) Full year 2023 results: EPS: JP¥7.64 (up from JP¥6.06 in FY 2022). Revenue: JP¥8.12b (up 24% from FY 2022). Net income: JP¥375.0m (up 30% from FY 2022). Profit margin: 4.6% (up from 4.4% in FY 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 20% p.a. on average during the next 3 years, compared to a 4.4% growth forecast for the Capital Markets industry in Japan. Over the last 3 years on average, earnings per share has increased by 126% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Announcement • Feb 15
WealthNavi Inc. announced that it expects to receive ¥15 billion in funding from Mitsubishi UFJ Financial Group, Inc. WealthNavi Inc. announced a private placement to issue common shares for the gross proceeds of ¥15,000,000,000 on February 13, 2024. The transaction will include participation from new investor Mitsubishi UFJ Financial Group, Inc. The investor is expected to take a stake of more than 15% through a private placement, making WealthNavi an equity-method affiliate. Announcement • Feb 14
WealthNavi Inc., Annual General Meeting, Mar 26, 2024 WealthNavi Inc., Annual General Meeting, Mar 26, 2024. Announcement • Jan 22
WealthNavi Inc. Revises Earnings Guidance for the Fiscal Year Ending December 31, 2023 WealthNavi Inc. revised earnings guidance for the fiscal year ending December 31, 2023. For the period, the company revised Operating revenue forecast from JPY 7,717 million to JPY 8,167 million and Operating profit forecast from JPY 216 million to JPY 523 million. Announcement • Dec 24
WealthNavi Inc. to Report Fiscal Year 2023 Results on Feb 14, 2024 WealthNavi Inc. announced that they will report fiscal year 2023 results on Feb 14, 2024 Reported Earnings • Nov 11
Third quarter 2023 earnings released: EPS: JP¥4.15 (vs JP¥2.19 in 3Q 2022) Third quarter 2023 results: EPS: JP¥4.15 (up from JP¥2.19 in 3Q 2022). Revenue: JP¥2.17b (up 27% from 3Q 2022). Net income: JP¥204.0m (up 94% from 3Q 2022). Profit margin: 9.4% (up from 6.2% in 3Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 21% p.a. on average during the next 3 years, compared to a 5.7% growth forecast for the Capital Markets industry in Japan. New Risk • Nov 06
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Japanese stocks, typically moving 7.7% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (7.7% average weekly change). Minor Risk Shareholders have been diluted in the past year (2.3% increase in shares outstanding). Announcement • Aug 31
WealthNavi Inc. to Report Q3, 2023 Results on Nov 10, 2023 WealthNavi Inc. announced that they will report Q3, 2023 results on Nov 10, 2023 Announcement • Aug 11
Wealthnavi Inc. Announces Production Design of New "Robo-Nisa" WealthNavi Inc. announced the produce design of New "Robo-NISA," which will be launched in January 2024 in full alignment with New NISA. The New NISA program, which will start in January 2024, has "installment allowance" and "growth allowance" in one NISA account. In order to invest in "installment allowance," users have to make investment through recurring deposits. New 'Robo-NISA" manages both "installment allowance" and 'growth allowance" within a New NISA account automatically. Users need to sign up for automated deposit plan to invest in "installment Allow." The annual management fee is 0% for "installment allowance" while the fees vary between 0.7-1%. In the event of any discrepancy between the Japanese original and this English translation, the Japanese original shall prevail. (0.77-1.1% including tax) for "growth allowance" depending on risk tolerance level. As a result, if investment is made only through automated deposits, the weighted average annual management fees of New NISA will be between 0.63-0.67% (0.693-0.737% including tax) depending on risk tolerance level. If users do not sign up for automated deposits or invest through combination of automated deposits and other deposits, the maximum fees of New NIS will be between 0.7-1% (0.77-1% including tax) depending on risks tolerance level. Please note that the annual fees for taxable and existing NISA accounts remain unchanged at 1% (1.1% including tax). WealthNavi's research on specialist online operators (as of June 2023) which is based on the Japan Investment Advisers Association, "Contact Asset Status" - sections "Wrap Accounts" and "Discretionary Accounts" (as of March 2023). In addition, the loyalty program is available for users of direct service, which offers discounted fees depending on the period of service use and asset size. With the program, the annual management fee for "growth allowance" comes down to 0.6-0.9% (0.66-0.99% including tax) and the weighted average annual management fees for New NISA account will be between 0.54-0.60% (0.594-0.0% including tax). WealthNav sets lower fee level for New NISA accounts to promote New NISA. The NewNISA program, which will start In January 2024, has "installation allowance" and "growth allowance") in one NISA account. in order to invest in "installation allowance," users have to make investments through recurring deposits. New "Robo-NSA" manages both "installment Allow" and "growth allowance" within a NewNISA account automatically. Users need To sign up for automated deposit plan To sign up for automated deposit plans to invest in "installment allowances." The annual management fee is 0% for "installment allowance " while the fees vary between 0.,7-1%. In the events of any discrepancy between the Japanese Original and this English translation, the Japan original shall prevail. (0.,77-1.1%including tax) for "growth allowance") depending on risk tolerance level. Reported Earnings • Aug 11
Second quarter 2023 earnings released Second quarter 2023 results: Revenue: JP¥13.6m (down 99% from 2Q 2022). Net income: JP¥182.4m (up 172% from 2Q 2022). Revenue is forecast to grow 21% p.a. on average during the next 3 years, compared to a 4.0% growth forecast for the Capital Markets industry in Japan. Announcement • Jun 03
WealthNavi Inc. to Report Q2, 2023 Results on Aug 10, 2023 WealthNavi Inc. announced that they will report Q2, 2023 results on Aug 10, 2023 Reported Earnings • May 15
First quarter 2023 earnings released First quarter 2023 results: Revenue: JP¥754.8m (down 48% from 1Q 2022). Net loss: JP¥25.2m (loss narrowed 26% from 1Q 2022). Price Target Changed • Apr 27
Price target decreased by 14% to JP¥1,847 Down from JP¥2,150, the current price target is an average from 3 analysts. New target price is 55% above last closing price of JP¥1,190. Stock is down 31% over the past year. The company posted earnings per share of JP¥6.06 last year. Price Target Changed • Apr 07
Price target decreased by 14% to JP¥1,847 Down from JP¥2,150, the current price target is an average from 3 analysts. New target price is 57% above last closing price of JP¥1,173. Stock is down 50% over the past year. The company posted earnings per share of JP¥6.06 last year. Reported Earnings • Feb 12
Full year 2022 earnings released: EPS: JP¥6.07 (vs JP¥10.84 loss in FY 2021) Full year 2022 results: EPS: JP¥6.07 (up from JP¥10.84 loss in FY 2021). Revenue: JP¥2.79b (down 40% from FY 2021). Net income: JP¥289.7m (up JP¥784.7m from FY 2021). Profit margin: 10% (up from net loss in FY 2021). The move to profitability was driven by lower expenses. Revenue is forecast to grow 63% p.a. on average during the next 2 years, compared to a 6.8% growth forecast for the Capital Markets industry in Japan. Announcement • Feb 10
WealthNavi Inc., Annual General Meeting, Mar 24, 2023 WealthNavi Inc., Annual General Meeting, Mar 24, 2023. Announcement • Jan 20
WealthNavi Inc. Revises Full-Year Earnings Forecast for the Fiscal Year Ending December 31, 2022 WealthNavi Inc. revised full-year earnings forecast for the fiscal year ending December 31, 2022. For the period, the company is expecting operating revenue of JPY 6,573 Millions as compared to previous forecast of JPY 6,536 Millions and an Operating profit of JPY 209 millions as compared to previous forecast of JPY 45 millions. Announcement • Dec 06
WealthNavi Inc. to Report Fiscal Year 2022 Results on Feb 10, 2023 WealthNavi Inc. announced that they will report fiscal year 2022 results on Feb 10, 2023 Price Target Changed • Nov 16
Price target decreased to JP¥3,283 Down from JP¥4,750, the current price target is an average from 3 analysts. New target price is 93% above last closing price of JP¥1,699. Stock is down 52% over the past year. The company is forecast to post a net loss per share of JP¥0.24 next year compared to a net loss per share of JP¥10.84 last year. Board Change • Nov 16
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Outside Director Akira Enomoto was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 13
Third quarter 2022 earnings released: EPS: JP¥2.19 (vs JP¥2.04 loss in 3Q 2021) Third quarter 2022 results: EPS: JP¥2.19 (up from JP¥2.04 loss in 3Q 2021). Revenue: JP¥1.71b (up 36% from 3Q 2021). Net income: JP¥105.0m (up JP¥198.0m from 3Q 2021). Profit margin: 6.2% (up from net loss in 3Q 2021). The move to profitability was driven by higher revenue. Revenue is forecast to grow 36% p.a. on average during the next 3 years, compared to a 6.8% growth forecast for the Capital Markets industry in Japan. Announcement • Nov 12
WealthNavi Inc. Provides Non-Consolidated Earnings Guidance for the Fiscal Year Ending December 31, 2022 WealthNavi Inc. provided non-consolidated earnings guidance for the fiscal year ending December 31, 2022. For the year, the company expects operating revenue of JPY 6,536 million and operating profit of JPY 45 million. Announcement • Aug 31
WealthNavi Inc. to Report Q3, 2022 Results on Nov 11, 2022 WealthNavi Inc. announced that they will report Q3, 2022 results on Nov 11, 2022 Reported Earnings • Aug 14
Second quarter 2022 earnings released: EPS: JP¥1.41 (vs JP¥2.04 loss in 2Q 2021) Second quarter 2022 results: EPS: JP¥1.41 (up from JP¥2.04 loss in 2Q 2021). Revenue: JP¥1.62b (up 30% from 2Q 2021). Net income: JP¥67.0m (up JP¥160.0m from 2Q 2021). Profit margin: 4.1% (up from net loss in 2Q 2021). The move to profitability was driven by higher revenue. Over the next year, revenue is forecast to grow 48%, compared to a 9.6% growth forecast for the industry in Japan. Announcement • Aug 12
WealthNavi Inc. Revises Non-Consolidated Earnings Guidance for the Fiscal Year Ending December 31, 2022 WealthNavi Inc. Revised non-consolidated earnings guidance for the fiscal year ending December 31, 2022. For the year, the company expects operating revenue to be JPY 6,536 million and expects operating profit to be JPY 33 million. Announcement • May 21
WealthNavi Inc. to Report Q2, 2022 Results on Aug 12, 2022 WealthNavi Inc. announced that they will report Q2, 2022 results on Aug 12, 2022 Announcement • May 14
WealthNavi Inc. Provides Non-Consolidated Earnings Guidance for the Fiscal Year Ending December 31, 2022 WealthNavi Inc. provided non-consolidated earnings guidance for the fiscal year ending December 31, 2022. For the year, the company expects operating revenue to be JPY 6,681 million. Board Change • Apr 27
No independent directors There are 5 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 5 new directors. 1 experienced director. No highly experienced directors. No independent directors (6 non-independent directors). Outside Director Maki Ogawa is the most experienced director on the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of board continuity. Lack of experienced directors. Announcement • Apr 08
WealthNavi Inc. to Report Q1, 2022 Results on May 13, 2022 WealthNavi Inc. announced that they will report Q1, 2022 results on May 13, 2022 Announcement • Apr 06
WealthNavi Inc. Starts Offering Robo-NISA WealthNavi Inc. announces that on April 6, 2022, it started offering "Robo-NISA," a feature leveraging tax exemption merits of NISA (Nippon Individual Savings Account, a tax exemption program for small investments) to users of "Chukyo Omakase Navi," a managed account service provided online jointly with The Chukyo Bank Ltd. "Robo-NISA" is a feature that employs the tax exemption merits of the NISA and allows the wealth management of long-term investment with a globally diversified portfolio through "WealthNavi." With this feature, regardless of the experience or knowledge of the customer, the customer will be able to build wealth for their future retired life while leveraging the NISA's tax exemption merits. Feature 1: Tax-free: Capital gains generated through investment (e.g., dividends, distributions, and sales proceeds) are typically subject to the individual income tax and local taxes of approximately 20% in total. Capital gains acquired from the "Robo-NISA" feature, which utilizes the NISA, are exempted from these taxes in Japan. Feature 2: Automated diversified investments in more than 11,000 securities in about 50 countries "Robo-NISA" automatically builds a portfolio with WealthNavi by combining assets, which is expected to provide the highest returns at a given level of risk based on the modern portfolio theory. The feature allows anyone to easily conduct the wealth management of long-term investment with a globally diversified portfolio while leveraging the tax exemption merits of the NISA. Feature 3: All the difficult aspects can be managed holistically and automatically Within an annual tax exemption cap set for the general NISA, "Robo-NISA" automatically performs the entire wealth management process from allocation of new contributions to NISA and taxable accounts to the selection and trading of securities, automated monthly deposits, and rebalancing. Announcement • Feb 16
Wealthnavi Inc. Provides Full Year Earnings Forecast for the Fiscal Year Ending December 31, 2022 WealthNavi Inc. provided full year earnings forecast for the fiscal year ending December 31, 2022. For the period, The company expects operating revenue of JPY 668.1 billion. Announcement • Feb 15
WealthNavi Inc., Annual General Meeting, Mar 24, 2022 WealthNavi Inc., Annual General Meeting, Mar 24, 2022. Announcement • Jan 20
WealthNavi Inc. Revises Full-Year Earnings Forecast for the Fiscal Year Ending December 31, 2021 WealthNavi Inc. revised full year earnings forecast for the fiscal year ending December 31, 2021. The company expects operating revenue of JPY 4,647 million compared to previous guidance of JPY 4,316 million and operating profit excluding advertising expenses of JPY 1,428 million compared to previous guidance of JPY 1,076 million. While the uncertain business environment under COVID-19 infections continued, the Company successfully attracted new users with its aggressive, yet disciplined, advertising activities. In addition, the existing users increased their appetite for additional investment backed by a favorable track record as well as the enhanced trust to the Company as a listed company. Additionally, the rise in the global stock markets also gave a positive impact to its asset under management on the market value basis. As a result, as of December 31, 2021, assets under management totaled JPY 634.5 billion, increased from the previous-year- end of JPY 329.1 billion. Announcement • May 15
WealthNavi Inc. Provides Earnings Guidance for the Year Ending December 31, 2021 WealthNavi Inc. provided earnings guidance for the year ending December 31, 2021. For the year, the company expects operating revenue of JPY 4,316 million, operating profit excluding advertising expenses was JPY 1,076 million. Announcement • Dec 30
WealthNavi Inc. to Report Fiscal Year 2020 Results on Feb 12, 2021 WealthNavi Inc. announced that they will report fiscal year 2020 results on Feb 12, 2021 Announcement • Dec 23
WealthNavi Inc. has completed an IPO in the amount of ¥17.933445 billion. WealthNavi Inc. has completed an IPO in the amount of ¥17.933445 billion.
Security Name: Common Stock
Security Type: Common Stock
Securities Offered: 15,594,300
Price\Range: ¥1150
Discount Per Security: ¥86.25
Transaction Features: Sponsor Backed Offering 
