Japanese auto software developer Micware files for a $30 million US IPO
IPO Overview
Micware, a Japan-based developer of automotive infotainment and navigation software, filed on Friday with the SEC to raise up to $30 million in an initial public offering.
The Kobe, Japan-based company plans to raise $30 million by offering 3.8 million ADSs at a price range of $7 to $9.
Micware is a Japan-based provider of software development and IT solutions focused on the automotive and mobility sectors. The company primarily develops in-vehicle infotainment （IVI） systems that support multimedia, navigation, human–machine interfaces, telematics, and driver assistance functions. It also develops navigation software and location-based services used in vehicles and smartphone applications. Founded in 2003, the company operates across Japan with additional subsidiaries in the U.S., Thailand, and Germany, and generates revenue primarily from software-defined vehicle systems, location-based services, and overseas software development services.
The Kobe, Japan-based company was founded in 2003 and booked $139 million in revenue for the 12 months ended August 31, 2025. It plans to list on the Nasdaq under the symbol MWC. A.G.P. is the sole bookrunner on the deal.
About the Company
We are a Japan-based provider of software development services and innovative information technology （“IT”） solutions mainly focused on the automotive and mobility sectors. Our main focus is the development and sale of in-vehicle infotainment （“IVI”） systems that cover a broad range of modern car functionality from multimedia to navigation, human machine interface, telematics, and driver assistance. We also specialize in the development of navigation software and location information-based smartphone applications. Since the establishment of Micware in 2003, we have accumulated over 20 years of experience in software development in the automotive industry, which has translated into significant business growth. As of the date of this prospectus, our business is operated across Japan through six operating entities and 12 branch offices. We have also established subsidiaries in the U.S., Thailand, and Germany, for our operations overseas. We present our results of operations by three categories: Software Defined Vehicles （“SDV”）： relates to the development and sale of software systems designed for SDV; Location-Based Services （“LBS”）： relates to the development and licensing of in-vehicle navigation software systems, and other geographic data-based services for B2B customers, mainly serving end users; and Other: primarily comprises software development services conducted overseas.
