Bank of Innovation floats on the Tokyo Stock Exchange
Japanese developer hit $77 million market cap on first day
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The Japanese developer Bank of Innovation has listed on the Tokyo Stock Exchange.
According to industry analyst Dr Serkan Toto, who translated the company's official documents, Bank of Innovation opened the day at a price of ¥960, but closed the day well up at ¥2,199.
At the end of the first day of trading Bank of Innovation reached a market cap equivalent to $77 million.
Bank of Innovation expects to earn $43 million in revenue and $2.7 million operating profit this fiscal year, which ends in September. More than 90 per cent of its revenue comes from two RPGs: Mitrasphere and Genjuu Keiyaku Cryptract.