Roland Corp., a Japanese electronic musical instrument-maker, returned to the Tokyo stock market Wednesday, about six years after delisting due to structural reforms.
Roland finished its first day of trading on the first section of the Tokyo Stock Exchange at ¥2,920 ($28.20), 5.8% below its IPO price of ¥3,100. The company was valued at ¥79.8 billion at the end of the day.
Its market capitalization based on the opening price of ¥2,954 was ¥80.7 billion, making it the second most valuable company to list this year after Yukiguni Maitake Co., a firm based in Niigata Prefecture producing and selling mushrooms and other food items, which was valued at over ¥83.0 billion.