Dely Gets Tokyo Bourse Nod for $64 mln IPO, LINE Yahoo to Up Stake.

Tokyo, Japan—LINE Yahoo Corp's subsidiary Dely Inc. received approval for listing on the Tokyo Stock Exchange's Growth Market, marking a significant milestone for the recipe video service provider since its establishment in April 2014.

The listing, scheduled for December 19, 2024, will strengthen LINE Yahoo's position in the digital retail space. 

The parent company's ownership stake will increase to 56.27% post-listing from the current 50.08%, including holdings through its venture capital arm's YJ2 Investment Partnership fund.

Dely's financial performance demonstrates a strong growth trajectory. 

Revenue reached JPY9.897 billion (US$64.1 million) in fiscal 2024, representing a 41.9% year-on-year increase. 

Operating profit grew 12.5% to JPY2.34 billion (US$15.1 million), while net profit rose 12.7% to JPY1.482 billion (US$9.6 million).

The company, which operates the "Kurashiru" recipe video service, has expanded into a comprehensive retail digital platform, connecting users with food, beverage, and retail businesses. 

Dely plans to allocate 2,557,800 shares to LINE Yahoo through underwriting securities companies as part of the listing process.

The listing aims to enhance corporate governance, improve market recognition, and diversify funding sources while maintaining synergies with LINE Yahoo's existing media, e-commerce, and financial service platforms.