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Bank of Innovation floats on the Tokyo Stock Exchange

Japanese developer hit $77 million market cap on first day

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.

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Matthew Handrahan

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Matthew Handrahan joined GamesIndustry in 2011, bringing long-form feature-writing experience to the team as well as a deep understanding of the video game development business. He previously spent more than five years at award-winning magazine gamesTM.