Japanese car software developer Micware (MWC.US) sets IPO pricing at $7-9 per ADS, aiming to raise $30 million.

Japanese car software developer Micware (MWC.US) submitted an initial public offering (IPO) application to the U.S. Securities and Exchange Commission (SEC) last Friday. According to the disclosure documents, the technology company based in Kobe plans to raise up to $30 million in funds through this U.S. listing. Micware plans to issue 3.8 million American Depositary Shares (ADS) at a price range of $7 to $9 per share. Established in 2003, Micware has been deeply involved in the field of automotive software for many years, with its core business focusing on the development and integration of In-Vehicle Infotainment (IVI) systems and advanced navigation software. It primarily develops IVI systems for multimedia, navigation, human-machine interaction, remote information processing, and driver assistance functions; as well as navigation software and location-based services for vehicles and smartphones. As a key software service provider in the Japanese automotive industry, Micware not only provides digital solutions for major OEMs, but has also actively promoted international expansion in recent years. The company has branches in the United States, Germany, and Thailand, aiming to be close to global core automotive markets through multinational operations. The decision to list on the Nasdaq is seen as a key step in enhancing its brand's international recognition and accelerating the development of cutting-edge in-vehicle technologies. It is understood that the company's revenue mainly comes from software-defined car systems, location-based services, and overseas software development services. It achieved revenue of $139 million in the 12 months ending August 31, 2025, and plans to list on the Nasdaq with the stock code MWC. A.G.P. is serving as the exclusive bookrunner for this offering.