Japanese studio Bank of Innovation floats on Tokyo Stock Exchange
Mobile RPG developer ends first day with $77 million market cap
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Japanese mobile RPG developer Bank of Innovation has launched an IPO on the Tokyo Stock Exchange.
According to industry analyst Dr. Serkan Toto, Bank of Innovation reached a market cap of $77 million. An opening price of $8.65 (¥960) ended up hitting $19.81 (¥2,199) by the day’s end.
Great expectations
Included in the IPO announcement was a statement that Bank of Innovation expects sales of $43 million by the end of the fiscal year this September, with an operating profit of $2.7 million.
The studio currently has two titles driving all its business, keeping its eyes on the Japanese market with RPGs Mitrasphere and Genjuu Keiyaku Cryptract.
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