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Micware Co., Ltd. is reorganizing around its platform-focused growth strategy by launching a new subsidiary, Micware Spacia Co., Ltd., to fully develop its spatial intelligence business for the Web4 era. The DynaPlanet platform, which previously belonged to Micware, will become a business of Micware Spacia. Masahide Shigeno, currently Representative Director, Deputy President and CTO of Micware and responsible for DynaPlanet, will serve as Representative Director, President and CEO of Micware Spacia while continuing his positions at Micware. In addition, part of the existing Micware Navigations Co., Ltd. business will be transferred to Micware Automotive Co., Ltd. to strengthen the micAuto platform business, and Kenta Imaida, now Representative Director, President and CEO of Micware Navigations, will move to Micware Automotive. Micware states that this launch marks the start of full-scale implementation of its growth strategy, with related measures to be announced in stages.
Micware Co., Ltd. reported solid growth for fiscal year 2026 and highlighted its recent Nasdaq listing. Revenue reached JPY21.9 billion (US$140.3 million), up 3.7% year over year, while operating profit rose 9.4% to JPY2.4 billion and net income attributable to ordinary shareholders increased 20.4% to JPY1.6 billion. Basic and diluted earnings per share improved to JPY28.58 from JPY25.49. Gross profit climbed to JPY8.0 billion with gross margin expanding to 36.8%, supported by disciplined cost control despite higher R&D spending.
Micware ended the year with JPY8.3 billion (US$52.9 million) in cash and cash equivalents and generated JPY2.1 billion in operating cash flow. In May 2026, the company completed an initial public offering on the Nasdaq Global Market, issuing 2,850,000 American Depositary Shares plus 427,500 from a fully exercised over-allotment at US$8.00 per ADS, for total gross proceeds of US$26.2 million before expenses. Management plans to evolve from an in-vehicle infotainment supplier toward a Software Defined Vehicle software platform provider and to commercialize its DynaPlanet 3D mapping platform, which it expects to begin monetizing in fiscal 2027.
Micware Co., Ltd. files its Form 20-F annual report for the fiscal year ended February 28, 2026. The company reports 56,141,914 ordinary shares outstanding as of that date, adjusted for a 241-for-1 share split effective March 31, 2026.
Micware’s business centers on automotive software, digital mapping and location-based services, with software development services generating JPY17,521.6 million (approximately $112.3 million) in 2026, or 80.0% of total revenue. Revenue is heavily concentrated: in 2026 Honda Group, Toyota Group and Uni Electronics represented 50.6%, 16.3% and 11.4% of revenue.
The report highlights intense competition from global automotive and mapping players, reliance on key OEM customers who are also major shareholders, rapid technology shifts including AI-based products, privacy and cybersecurity risks, dependence on cloud and data providers, open source and intellectual property issues, and exposure to geopolitical tensions, foreign exchange and natural disasters.
Micware Co., Ltd. reports that its annual general meeting of shareholders was conducted by written resolution, with holders of Ordinary Shares representing 56,141,914 votes, or 100% of votes exercisable as of the February 28, 2026 record date, unanimously approving all proposals. Shareholders approved the financial statements for the 23rd fiscal year from March 1, 2025 to February 28, 2026 and elected one director, Kazunori Mori.
The voting figures reflect a 241-for-1 share split of issued and outstanding Ordinary Shares that became effective on March 31, 2026. Mr. Mori’s election as director became effective May 29, 2026, adding an executive with experience at Toyota Tsusho, NEXTY Electronics, and his own consulting firm.
Micware Co., Ltd. filed an initial Form 3 for Mori Kazunori, formally identifying him as a director of the company. This filing establishes his status as an insider subject to reporting rules on future trades in Micware’s securities. The filing does not list any current holdings or transactions.
Micware Co., Ltd. reports that the underwriter for its recent initial public offering fully exercised a 45-day over-allotment option, purchasing an additional 427,500 American Depositary Shares (ADSs) at $8.00 per ADS. This brought total ADSs sold in the offering to 3,277,500 and aggregate gross proceeds to approximately $26.2 million before underwriting discounts and expenses.
The ADSs trade on the Nasdaq Global Market under the symbol MWC. Micware plans to use the IPO proceeds to fund its Dynamic Street Map & Market Place project, expand its micAuto-PF in-vehicle infotainment platform, support general corporate purposes, make strategic investments in Software Defined Vehicles and Location-Based Services, and increase marketing and advertising.
Micware Co., Ltd. is holding its annual general meeting by written resolution, asking shareholders to approve financial statements for the 23rd fiscal year (March 1, 2025–February 28, 2026) and elect one new director, Kazunori Mori.
For this fiscal year, consolidated revenue reached 22,233,692 thousand yen, up 5.0% year-on-year, led by contract development revenue of 17,688,510 thousand yen, up 4.9%. Operating profit was 2,231,187 thousand yen, up 14.7%, and net income attributable to owners of the parent was 1,534,354 thousand yen, up 31.4%, showing stronger profitability despite higher development investment.
The company focuses on SDV (Software-Defined Vehicles), connected services, and LBS (Location-Based Services), is expanding globally with subsidiaries in North America, Asia, and Europe, and increased group headcount to 561 employees. After year-end it executed a 241-for-1 stock split, raising issued shares to 58,054,490, and is preparing a Nasdaq Global Market listing via ADSs, supported by a previously filed Form F-1.
Toyota Motor Corporation reports beneficial ownership of 6,861,270 ordinary shares of Micware Co., Ltd., representing 11.6% of the class based on 58,991,914 ordinary shares outstanding as of the completion of the IPO per the issuer's final prospectus dated May 15, 2026. The filing states the shares are represented by American Depositary Shares (CUSIP 59490A100) listed on Nasdaq under the symbol MWC.
The Schedule 13G discloses sole voting and dispositive power over the reported shares and is signed by Toyota's Chief Officer, Accounting Group, dated May 18, 2026.
Micware Co., Ltd. completed an upsized initial public offering of 2,850,000 American Depositary Shares at US$8.00 per ADS, raising aggregate gross proceeds of about US$22.8 million. The ADSs each represent one ordinary share and are listed on the Nasdaq Global Market under the ticker symbol “MWC.”
The company plans to use the IPO proceeds to fund its Dynamic Street Map & Market Place project, expand its micAuto-PF in-vehicle infotainment platform, support general corporate purposes, make strategic investments in its Software Defined Vehicles and Location-Based Services segments, and increase marketing and advertising.
Micware Co., Ltd. is conducting a firm-commitment initial public offering of 2,850,000 ADSs at $8.00 per ADS. Each ADS represents one ordinary share and the ADSs are approved for listing on Nasdaq under the symbol MWC. The offering includes a 45-day 15% over-allotment option. The underwriters’ discount is $0.56 per ADS (7.0%), and estimated net proceeds to Micware are approximately $18.5 million (or $21.7 million if the over-allotment option is exercised in full). Shares outstanding were 56,141,914 ordinary shares prior to the offering and are expected to be 58,991,914 ordinary shares after this offering assuming no exercise of the over-allotment option.