Summary of "Secure" IPO information! Explain from schedule to secretary securities, attention level, brand analysis, comparison with other surveillance camera system providers and forecasts! [Updated information on December 28, 2021]
| Company Name | Secure |
| Market / Code / Industry | TSE Mothers 4264 / Information / Communications Industry |
| Listing date | December 27 |
| Application period (BB period) | December 10th-December 16th |
| Recommended securities company | SMBC Nikko Securities, SBI Securities, Rakuten Securities, Matsui Securities, |
| Market attention by FISCO analysis | ★★★ (Maximum 5 ★) |
| Initial price (initial price increase / decrease rate) | 2185 yen (+ 130.00%) |
| Latest chart | [Click to go to the latest chart] |
⇒ Click here for information on other IPO stocks!
Secure will be IPO (initial public offering) on December 27th!
From the official website of "Secure"Secure was approved for listing on the Tokyo Stock Exchange on November 22, 2021, and it was decided to IPO (initial public offering) on December 27, 2021.
Secure was founded on October 16, 2002. Devices and software that meet the needs of each company with three services: "SECURE AC (= Access Control: access control system)", "SECURE VS (= Video Surveillance: surveillance camera system)", and "SECURE Analytics (image analysis service)". Are sold in combination. We are conducting research and development to implement and optimize AI (image recognition) technology in physical security systems such as surveillance cameras, and it is possible to provide it as a service with higher added value.
[Table of Contents] (Click to move to the relevant information) ▼ When to apply and when to purchase? (Bookbuilding period, listing date, etc.) ▼ Which securities company can you apply for? (Secretary securities company) ▼ How much can I buy? (Tentative conditions, public offering price, expected PER, initial price, initial price increase / decrease rate, etc.) ▼ What is the number of issued shares, unit number, and disclosure scale? ▼ What kind of company? ▼ Performance data / Performance comments ▼ Detailed company information / stock introduction ▼ Investment pointsWhen to sign up for a secure IPO and when to buy it? (Bookbuilding period, listing date, etc.)
| ■ Schedule | |
| Temporary condition presentation | December 9th |
| Book building (lottery application) period | December 10th-December 16th |
| Public price decision | December 17th |
| Purchase application period | December 20th-December 23rd |
| Payment date | December 24 |
| Listing date | December 27 |
Where can I apply for a secure IPO? (Main managing underwriter, managing underwriter, consignment securities company, etc.)
| ■ Handling securities companies (as of December 10, 2021. Allocations are subject to change) | ||
| Securities company name (* Click the blue letters to go to the details page) | Underwriting share | account opening |
| SMBC Nikko Securities (lead manager securities) [Can be traded in the shortest possible day] | 92.2% | |
| SBI SECURITIES [Available the next day at the earliest] | 0.9% | |
| Rakuten Securities [Available the next day at the earliest] | 0.9% | |
| Matsui Securities [Can be traded in a minimum of 3 days] | -% | |
| | ―% | |
| Mizuho Securities | 4.3% | |
| Ichiyoshi Securities | 0.9% | |
| Tokai Tokyo Securities | 0.9% |
How Much Can I Buy a Secure IPO? Cheap / expensive? (Tentative conditions, public offering price, expected PER, initial price, initial price increase / decrease rate, etc.)
| ■ Price information | |
| Estimated issue price (* 1) | 870 yen |
| Tentative condition [Expected PER (* 2)] | 870-950 yen [31.7 times-34.6 times] |
| Public offering price | 950 yen |
| Initial price | 2185 yen |
| Initial price increase / decrease rate | + 130.00% |
| Expected trading range (* 3) | 1000-2500 yen |
| Latest chart | [Click to go to the latest chart] |
| * 1 When submitting a securities registration statement. * 2 Estimated EPS = Estimated net income for the current fiscal year (at the time of IPO) ÷ Number of issued shares at the time of listing. * 3 The period is assumed to be one year after listing. |
| ■ Forecast PER of 3 similar companies (calculated from Zaraba's stock price and company forecast on December 8, 2021) | |
| Company name * Click to go to the latest chart | Expected PER |
| [Average of 3 companies] | 26.3 times |
| Amano <6436> | 22.2 times (ream) |
| NEC <6701> | 22.0 times (ream) |
| Azbil <6845> | 34.8 times (ream) |
Comparing the expected PER of the provisional conditions calculated from the expected EPS with the average PER of the three similar companies, it can be judged that the public price of this issue is higher than that of the similar companies.
What is the number of shares issued, the number of units, and the scale of publication of Secure?
| ■ Information about the number of shares | |
| Number of issued shares (at the time of listing) | 4,590,620 shares (planned) |
| Number of public shares | Public offering 449,000 shares for sale 220,000 shares (100,300 shares for sale through over-allotment) |
| Estimated public scale (* 1) | 670 million yen (including OA) |
| * 1 Calculated based on the assumed issue price at the time of filing the securities registration statement. |
Secure is an entry / exit management / surveillance camera system
It manages entry and exit for corporations and provides surveillance camera systems. "SECURE AC (entrance / exit management system)", "SECURE VS (surveillance camera system)" and "SECURE Analytics (image analysis service)" are provided as a one-stop service by combining devices and software that meet the needs of each company. Sold to a wide range of customers (6,398 companies as of the end of September 2021), including companies.
Business performance is strong due to growing needs for non-contact facial recognition entry / exit management systems and increasing demand for security, and efforts for unmanned stores are expected to progress in the future. It is difficult to think that the set price forecast PER for this term is also overpriced. There is a sense of lightness in the scale of the public offering, and there are only two new listed companies including the company on December 27.
The public scale is expected to be around 700 million yen. Venture capital shareholders are scattered, and the lockup will be unlocked at more than 1.5 times the public price.
| ◆ Recommended securities companies that can apply for "Secure" IPO | |
| SMBC Nikko Securities [Can be traded in the shortest possible day] | |
| SBI SECURITIES [Available the next day at the earliest] | |
| Rakuten Securities [Available the next day at the earliest] | |
| Matsui Securities [Can be traded in a minimum of 3 days] | |
| |
Secure performance data
| ■ Performance trends (unit: million yen /%) | |||
| Fiscal year | Sales (growth rate) | Ordinary income (growth rate) | Net income (growth rate) |
| 2017/12 | 1,383 (-) | 39 (-) | 31 (-) |
| 2018/12 | 1,473 (6.5%) | 66 (68.2%) | 46 (48.3%) |
| 2019/12 | 1,717 (16.6%) | ▲ 56 (-) | ▲ 47 (-) |
| 2020/12 | 2,790 (62.5%) | 33 (-) | 39 (-) |
| 2021/12 forecast | ― (―) | ― (―) | ― (―) |
| ■ Consolidated business performance trends (unit: million yen /%) | |||
| Fiscal year | Sales (growth rate) | Ordinary income (growth rate) | Net income (growth rate) |
| 2020/12 | 2,790 (-) | 27 (-) | 33 (-) |
| 2021/12 forecast | 3,380 (21.1%) | 142 (413.8%) | 126 (281.4%) |
| 2021/9 3Q | 2,505 (-) | 130 (-) | 108 (-) |
| Expected EPS (*) / Dividend | Single:-Yen Consolidation: 27.45 yen / 0.00 yen | ||
| * Forecast EPS is calculated by "Expected net income for the current term (at the time of IPO) / Number of issued shares at the time of listing". |
Secure performance comments
In FY12 / 2021, sales and profits are expected to increase, with net sales up 21.1% YoY to 3.38 billion yen and ordinary income up 413.8% to 140 million yen.
In addition to the movement to build a new social living environment such as infectious disease prevention measures, avoidance of digital transformation, temperature measurement in facilities where many people gather such as workplaces and stores, and daily wearing of masks, employees and employees while the company continues its business With the growing expectations of protecting the health of the family and the urgent need to pursue DX (digital transformation), the company group provides technologies and services that create a "safe and secure working environment." Has been actively developed.
In September 2020, a new product "SECURE AI Office Base" that can centrally manage entry / exit management, temperature measurement management, visualization of congestion status, etc. by utilizing the AI function to perform face recognition while wearing a mask The offer has started. This is a solution for a new era in which personal authentication by "non-contact" is possible, flexible settings for access information for each base, area, and time are possible, and attendance data can be recorded at the same time.
In order to create a "safe and secure working environment" in the new lifestyle of Korona-ka, the company group makes full use of cutting-edge AI (image recognition) technology and many years of experience and know-how as a company specializing in security. We strive to provide optimal solutions. In addition, due to the spread of the new coronavirus, the need for remote monitoring continues to be high, and orders for surveillance cameras are increasing.
As of the end of the third quarter, the progress rate against the full-year plan was 74.1% for sales of 2.55 billion yen and 91.5% for ordinary income of 130 million yen.
Secure details
| ■ Basic information | |
| location | Shinjuku Sumitomo Building 20F, 2-6-1 Nishi-Shinjuku, Shinjuku-ku, Tokyo |
| Representative name (date of birth) | President and CEO Tatsunari Taniguchi (born October 14, 1976) |
| Established | October 16, 2002 |
| Capital | 294 million yen (as of November 22, 3rd year of Reiwa) |
| number of employees | 95 newly listed companies, 99 consolidated companies (as of October 31, 3rd year of Reiwa) |
| Business content | Entrance / exit management for corporations and provision of surveillance camera systems, etc. |
| ■ Sales composition ratio (results for FY12 / 20) | ||
| Item | Amount of money | ratio |
| SECURE AC access control system | 845 million yen | 30.3% |
| SECURE VS surveillance camera system | 1,885 million yen | 67.6% |
| SECURE Analytics Image Analysis Service / Others | 59 million yen | 2.1% |
| total | 2,790 million yen | 100.0% |
| ■ Top 10 major shareholders | |||
| Ranking | Shareholder name | Number of shares held | Owned share |
| 1 | (Go) LYON | 1,339,500 shares | 32.34% |
| 2 | Tatsunari Taniguchi | 495,000 shares | 11.95% |
| 3 | Takanari Taniguchi | 451500 shares | 10.90% |
| Four | Toshinari Taniguchi | 450,000 shares | 10.87% |
| Five | CBC Co., Ltd. | 228,000 shares | 5.51% |
| 6 | Global Tiger Fund No. 3 Investment Limited Partnership | 217,620 shares | 5.25% |
| 7 | BroadBand Tower Co., Ltd. | 150,000 shares | 3.62% |
| 7 | i-nest No. 1 Investment Limited Partnership | 150,000 shares | 3.62% |
| 9 | Toho Bank, Ltd. | 120,000 shares | 2.90% |
| 9 | KAWASHIMA Co., Ltd. | 120,000 shares | 2.90% |
| total | 3,721,620 shares | 89.86% |
| ■ Other information | ||
| Use of proceeds | Scheduled to be used for working capital for business expansion | |
| affiliated company | SECURE KOREA, Inc. (Consolidated Subsidiary) Security Solution Business | |
| VC sellable portion (estimated) | -Shares (other than those with restrictions such as sale / holding period) | |
| Most recently paid third-party allotment | date | December 30, 2019 |
| Allocation destination | i-nest No. 1 Investment Limited Partnership, Morpho Co., Ltd., BrainPad Co., Ltd., Luck Co., Ltd., Property Agent Co., Ltd., Toho Furusato Total Success Support Fund Investment Limited Partnership | |
| Issue price | 666 yen * Considered stock split |
| ◆ Recommended securities companies that can apply for "Secure" IPO | |
| SMBC Nikko Securities [Can be traded in the shortest possible day] | |
| SBI SECURITIES [Available the next day at the earliest] | |
| Rakuten Securities [Available the next day at the earliest] | |
| Matsui Securities [Can be traded in a minimum of 3 days] | |
| |
Secure brand introduction
Since the start of full-scale sales of entry / exit management systems and surveillance camera systems in October 2010, the company group has steadily expanded its business centered on optimization in the construction of security systems centered on entry / exit management systems and surveillance camera systems. It has expanded in scale. A long time ago, the definition of security in a company was "preservation of life and property." However, since 2010, the spread of SNS has become an important factor for companies to newly protect their "credibility and reputation", and DX (digital) to deal with the shortage of IT human resources and the aging of core systems. Efforts for transformation) have become an urgent management issue.
Furthermore, with the spread of the new coronavirus infection, "employee health management" has been added as an important security factor for companies. With these in mind, security has become more essential than ever for any enterprise. On the other hand, when dealing with the management issue of "how to protect from these risks?", The organization, physical location, products / services and technologies handled, important information, etc. differ from company to company. The levels are also different.
Under such circumstances, the company group offers three services, "SECURE AC (= Access Control: access control system)", "SECURE VS (= Video Surveillance: surveillance camera system)" and "SECURE Analytics (image analysis service)". By providing a one-stop service that combines devices and software that meet the needs, it sells to a wide range of customers (6,398 companies as of the end of September 2021) from small and medium-sized enterprises to large enterprises.
In addition, AI (image recognition) technology is used for the face recognition system in the entrance / exit management system and some services of the surveillance camera system, and the company group procures the optimum AI algorithm in combination with the device from the outside. We provide comprehensive solutions for system construction, introduction / construction, and after-sales follow-up, including AI implementation.
In addition, the company group has been conducting research and development to implement and optimize AI technology on physical security systems such as surveillance cameras since it was converted to the BtoB business in 2010, and it will be combined with the optimization of system construction. It is possible to enhance the operational effect of AI and provide it as a service with higher added value.
For example, a physical security system equipped with such AI technology pursues advanced crime prevention so that it can be used for early detection and prediction of crimes by performing face recognition and analysis of human behavior. On the other hand, it can be applied not only to security in the sense of crime prevention, but also to various fields other than security, such as business analysis, marketing research, labor saving such as cash register at stores, and identity verification at event venues. The company group provides solutions optimized for the diverse needs of these customers.
In addition, it is a great strength to be able to provide a series of solutions related to the introduction of physical security systems in one go, and it has gained the trust of many end users and partner companies. Going forward, we will continue to add face recognition, human behavior analysis, human detection, and crowd analysis technologies to the above-mentioned services, which have been the strength of the company group, and combine physical security systems with AI (image recognition) technology. By providing "safety", "safety" and plus alpha value, we will actively support DX efforts at client companies.
Secure investment points
Business performance is strong due to growing needs for non-contact facial recognition entry / exit management systems and increasing demand for security, and efforts for unmanned stores are expected to progress in the future. Due to the high growth potential and theme, it is difficult to regard the set price forecast PER for this term as overpriced. It seems to be conscious that Safie <4375>, a surveillance camera system listed on September 29, was a solid start despite being a large Mothers IPO. The public offering is lightweight, and AsiaQuest <4261> and the company are the only newly listed companies on December 27. However, venture capital shareholders are scattered, and the lockup will be released at more than 1.5 times the public price.
⇒ Click here for IPO information of Safie <4375>! ⇒ Click here for IPO information of AsiaQuest <4261>!
The company group consists of three groups: "SECURE AC (entrance / exit management system, 30.3% of sales in the previous term)", "SECURE VS (surveillance camera system, 67.6%)" and "SECURE Analytics (image analysis service, 2.1%)". By providing one-stop services by combining devices and software that meet the needs of each company, it sells to a wide range of customers (6,398 companies as of the end of September 2021) from small and medium-sized enterprises to large enterprises.
AI (image recognition) technology is used for the face recognition system in the entrance / exit management system and some services of the surveillance camera system, and the optimum AI algorithm is procured from the outside in combination with the device to implement AI. We provide integrated solutions from system construction including system construction, introduction / construction, and after-sales follow-up.
"SECURE AI STORE LAB" is an experimental operation of a next-generation unmanned store where you can shop empty-handed by face recognition. It has 211 sales partner companies. 20.0% of sales are for Sohgo Security Services <2331>, 15.7% is for JVC KENWOOD / Public Industrial Systems Co., Ltd., and 12.6% is for CBC Co., Ltd. There is a tax loss carryforward.
In terms of business performance, sales and profits are expected to increase in FY12 / 2021, with net sales up 21.1% YoY to 3.38 billion yen and recurring profit up 413.8% to 140 million yen. Sales by service were 950 million yen, up 13.6% year-on-year for "SECURE AC", 2.32 billion yen, up 23.3% year-on-year for "SECURE VS", and 90 million yen, up 63.1% year-on-year for "SECURE Analytics" / others. The movement to work in a new office and the growing need for remote monitoring have been a tailwind.
The expected PER for this term, which is the assumed provisional condition level, is about 30 to 34 times. Compared to companies that handle similar services, it is as high as Azbil <6845> such as building systems, but it seems to be well tolerated as a start-up company with a high performance growth rate.
The public scale is expected to be around 700 million yen. Venture capital holdings will remain 332,620 shares (7.2% of the number of issued shares at the time of listing) even after listing, and will be unlocked 90 days after listing or 1.5 times or more of the public price. For the time being, we will assume the initial price formation with this in mind, but if the popularity in advance increases, there is a good chance that even if some sales are made by these shareholders, they will be absorbed lightly.
| ◆ Recommended securities companies that can apply for "Secure" IPO | |
| SMBC Nikko Securities [Can be traded in the shortest possible day] | |
| SBI SECURITIES [Available the next day at the earliest] | |
| Rakuten Securities [Available the next day at the earliest] | |
| Matsui Securities [Can be traded in a minimum of 3 days] | |
| | |
| ⇒Click here for the ranking of securities companies compared by IPO! |
[Data provision / stock analysis] FISCO
■ If you don't win the IPO stock, go to this article first! ⇒ If you want to win an IPO and make a profit, aim for a "lead manager securities"! The secret to winning the IPO is the capture of the lead underwriter and the lead underwriter's group company, which have 50 to 100 times the allocation of ordinary underwriting securities!
[As of March 1, 2022][2022 Edition] If you really want to win an IPO, I want to hold it first! Recommended securities company with many IPOs [lead manager] |
| ◆ Nomura Securities ⇒To the detailed information page | ||||
| Number of lead managers (top) / Number of stocks handled (bottom) | Net distribution / lottery method | Number of accounts | ||
| 2021 | 2020 | 2019 | ||
| 28 companies 64 companies | 22 companies 41 companies | 17 companies 35 companies | 10% or more: Equal lottery with 1 vote per person | 5.33 million * |
| [Point] Although the number of products handled is smaller than that of SMBC Nikko Securities and SBI SECURITIES, the number of lead managers is top class and competes for 1st or 2nd place every year. As it is the largest securities company in Japan, it often serves as the lead underwriter for large-scale IPO projects such as "Japan Post Group 3 companies", "JR Kyushu" and "Softbank". Every time, more than 10% of the underwritten shares will be allocated to the online account of the complete lottery system. In addition, since it is OK to deposit the purchase funds before the purchase application after winning, it is a big advantage for individual investors who manage with limited funds to feel free to apply without worrying about the funds in the account. If you really think about IPO investment, it is a securities company that wants to open an account. * Number of remaining accounts | ||||
| [Related article] ◆ Teaching how to select a securities company that makes it easier to win an IPO (initial public offering)! Four companies, including Okasan Online Securities and Nomura Securities, which do not require funds until they are elected, should be prioritized! ◆ Is it true that "Nomura Securities' lead underwriter's IPO is open to the public?" Mr. Yunagi, a master of event investment, analyzes past data and thoroughly verifies "anomalies" that are useful for IPO investment! ◆ If you want to win an IPO and make a profit, aim for a lead underwriter! The secret to winning the IPO is the capture of the lead underwriter and the lead underwriter's group company, which have 50 to 100 times the allocation of ordinary underwriting securities! | ||||
| ◆ SMBC Nikko Securities | ||||
| Number of lead managers (top) / Number of stocks handled (bottom) | Net distribution / lottery method | Number of accounts | ||
| 2021 | 2020 | 2019 | ||
| 26 companies 80 companies | 16 companies 52 companies | 20 companies 61 companies | 10%: Equal lottery with 1 vote per person Maximum 5%: "Lottery by stage" * 1 | 3.1 million |
| [Point] We are focusing on IPO among major securities companies, and in 2021 we will be the third largest among all securities companies in terms of the number of lead managers and the number of stocks handled! In addition, there is only one of the five major domestic securities companies, and in super-large IPOs such as "Japan Post Group 3 companies", "JR Kyushu" and "Softbank", it is often listed as one of the lead managing underwriters. In the same rate lottery for 10%, only one unit can be applied for each person, so it is an advantage that everyone has the same winning probability regardless of the amount of funds. Furthermore, from February 2019, the "stage-specific lottery" will start, in which the winning probability changes depending on the assets under custody. In the additional lottery for those who are not in the equality lottery, 25 votes are assigned to each person if it is the highest rank "Platinum", and the winning probability is greatly increased. * 1 The number of lottery votes will be assigned separately for each "stage" determined by the balance of assets under custody. | ||||
| [Related articles] ◆ [What are the recommended points of SMBC Nikko Securities? ] We recommend "Kinkabu", which is completely free of margin trading and allows you to buy stocks that are convenient for NISA and funded investment in small portions! ◆ Explanation of securities companies that can read "Nikkei Shimbun" and "Company Quarterly Report" for free!Although the usage fee is 0 yen, original articles and advanced information that cannot be read on paper media are posted, and the article search function is also enhanced. | ||||
| ◆ SBI SECURITIES | ||||
| Number of lead managers (top) / Number of stocks handled (bottom) | Net distribution / lottery method | Number of accounts | ||
| 2021 | 2020 | 2019 | ||
| 21 companies 122 companies | 15 companies 85 companies | 7 companies 82 companies | 60%: Equal lottery with 1 vote per unit 30%: Allocated in order of "IPO challenge points" 10%: Allocated based on knowledge, experience, financial resources and transaction status | 6.04 million |
| [Point] Despite being an online securities company, it boasts a track record comparable to that of major securities companies in terms of both the number of lead managers and the number of stocks handled. In particular, the number of stocks handled is by far the largest, and in 2021, 122 out of 125 companies handled about 98% of IPO stocks. In other words, if you have an account with SBI SECURITIES, you can apply for most IPO stocks. It is also attractive that 100% of the allocation to individual investors is allocated to online investors. Since it is a lottery with one vote per unit, the probability of winning increases as you apply for more units. It is also an advantage that anyone can save "IPO Challenge Points" that increase the winning probability if they continue to apply for IPO regardless of the amount of funds and transactions. It is also convenient to be able to apply for an IPO and check information on the smartphone-only site. | ||||
| [Related article] ◆ [Explanation of the features and recommended points of SBI SECURITIES! ] The lowest trading fees for stock investment are among the best in the industry! A wide range of products and services such as IPOs, US stocks, and night trading ◆ "Where is the recommended online securities for stock beginners and shareholder benefit beginners?" Mr. Kiritani recommends Matsui, SBI, and Tokai Tokyo. Company! | ||||
| ◆ Daiwa Securities | ||||
| Number of lead managers (top) / Number of stocks handled (bottom) | Net distribution / lottery method | Number of accounts | ||
| 2021 | 2020 | 2019 | ||
| 16 companies 49 companies | 15 companies 43 companies | 22 companies 43 companies | 10%: Equal lottery with 1 vote per person | 3.03 million * |
| [Point] A major securities company that occupies one of the five major securities companies in Japan. It is a stable lead manager in many IPOs every year, and the number of stocks handled is top class every year. It can be said that it is an indispensable securities company. Since the application is only for one unit per issue, it is an advantage for individual investors with limited funds that the winning probability does not depend on the amount of funds. * Number of remaining accounts | ||||
| [Related articles] ◆ [Comparison of securities companies] Introducing Daiwa Securities' "in-kind fees", "margin transaction costs", "products handled", and even "latest campaign information" all at once! | ||||
| * The number of lead managers and the number of stocks handled exclude REITs. The number of accounts is as of the end of March 2021. |
[SMBC Nikko Securities] The number of IPOs handled is top class and the number of lead managers is also large! A recommended securities company that boasts 80 IPO handling records in 2021! ⇒Click here for related articles