Sushi Ginza Onodera, a Japan-based sushi restaurant chain with 13 locations in Japan, China, and the US, announced terms for its IPO on Monday.
The Tokyo, Japan-based company plans to raise $8 million by offering 1.1 million shares at a price range of $7 to $8. At the midpoint of the proposed range, Sushi Ginza Onodera would command a market value of $61 million.
Opening its first restaurant in Japan in 2013, Sushi Ginza Onodera now operates 13 sushi, tempura, teppanyaki, and makiyaki restaurants in Japan, China, and the US. Its restaurant formats include both high-end omakase-style sushi, as well as more affordable kaiten (conveyor belt) sushi.
Sushi Ginza Onodera was founded in 2013 and booked $23 million in sales for the 12 months ended September 30, 2023. It plans to list on the Nasdaq under the symbol ONDR. ThinkEquity is the sole bookrunner on the deal.
