Number of IPOs in Japan to be at 17 year high: Nomura

TOKYO: Nomura Holdings Inc, Japan's biggest equity underwriter, expects initial public offerings will double to the highest in 17 years as a resurgent stock market attracts investors to entrants, including Japan Post Holdings Co.

The value of debut share sales in the nation may exceed 2 trillion yen ($17 billion) in 2015, Nomura IPO head Hiroshi Yoshihara said in an interview in Tokyo. As many as 100 Japanese companies are preparing to sell shares this year, he said, up from 77 in 2014.

The benchmark Topix index closed at the highest level since December 2007 on Tuesday, a day after a government report showed Japan exited a recession last quarter. Swings in oil prices and a standoff between Greece and euro countries have spurred gyrations in financial markets worldwide this year. "Investors have a strong appetite for debut companies," Yoshihara said. "Even though the market's pretty volatile, the trend will remain because investors believe the shares will rise as profits grow."

About 90 to 100 Japanese companies, including smartphone software makers, information-technology providers and drug research ventures, are preparing to sell shares, Yoshihara said. Offerings totaling more than 2 trillion yen would be the highest since 1998, when NTT DoCo-Mo Inc went public with a 2.1 trillionyen sale, according to data compiled by Bloomberg.