NOTA Inc., a luxury villa operator backed by Hillhouse Investment Management, is planning an initial public offering in Tokyo as early as December. The company is working with Nomura Holdings on the prospective IPO, which could become one of the larger deals in a challenging year for Japanese debuts. With the number of IPOs in Japan hitting a 14-year low, the Tokyo stock exchange has shifted focus toward quality over quantity, emphasizing strong performance from newcomers.
NOTA raised ¥10 billion ($63 million) from Toyota’s investment arm and SBI Holdings in August, when it was valued at ¥112 billion. Minerva Growth Partners and Hillhouse also invested earlier in the year. The company offers fractional ownership of high-end vacation homes, primarily in rural areas like Hokkaido and some Tokyo suburbs.
Recently rebranded from Not A Hotel, NOTA is expanding into residential property, with units starting at ¥69.8 million.
Source: Bloomberg Markets · Summarized by HeadlinesBriefing