QB Net Holdings Co. CEO Yasuo Kitano rings the bell at the Tokyo Stock Exchange to celebrate the company's listing on Friday morning. | KYODO

Business / Corporate

QB Net launches initial public offering for budget barbershop operations

Kyodo

QB Net Holdings Co., operator of budget barber chain QB House, listed its shares on the first section of the Tokyo Stock Exchange on Friday, opening at ¥2,115 — less than the initial offering price of ¥2,250.

The IPO will allow the company to raise ¥25.3 billion in capital.

QB House offers haircuts at low prices in a short amount of time without the need for reservations, while the firm’s FaSS brand targets people in their 20s to 40s for cuts and styling.

QB Net has over 660 stores in several countries in addition to Japan, including Taiwan and Singapore.

For the fiscal year ending in June, QB Net forecasts a net income of ¥1.1 billion on sales of ¥19 billion.

The company was founded in 1995.

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