KS Frozen Foods, a producer of Chinese and Japanese frozen foods, will debut on the Nagoya Stock Exchange on 9 March.
The majority of KS Foods’ products require preparation, although the company does produce some ready meals. KS Frozen Foods is Japan’s largest supplier of frozen meatballs, commanding almost 30% of the market share. The firm supplies frozen foods to supermarkets and commercial food service companies.
“We plan to keep the ratios of home-use and commercial-use products to total sales at 50-50, targeting 12 billion yen in near-term sales,” president Kenichi Nagata told the Nikkei Report.
The proceeds generated by the initial public offering of 230,000 shares will be used to repay borrowings. The company also intends to “raise the payout ratio,” said Nagata.