The shares are listed on the Tokyo Stock Exchange

Davis Polk advised the international joint lead managers and joint bookrunners in connection with the initial public offering of 13,376,400 shares of common stock and Tokyo Stock Exchange listing of Visional, Inc.

The shares were sold by Visional and multiple shareholders including venture capital funds and the company’s founder. The Japanese underwriters have an over-allotment option with respect to 266,900 shares. The global offering consisted of an offering in Japan and an international offering outside Japan pursuant to Rule 144A and Regulation S. Assuming full exercise of the over-allotment option, the aggregate proceeds of the global offering will be approximately ¥68.2 billion (approximately $631 million).

Visional operates BizReach, a widely recognized online platform pioneering “direct recruiting” in Japan. Leveraging its strong technical capabilities and knowledge of Japan’s human resources market, Visional offers a comprehensive range of HR-related platforms and services, particularly through its cloud-based human capital management platform HRMOS, aiming at driving further digital transformation in Japan’s human resources market. Visional also operates a number of other internally developed businesses through its Incubation segment.

The Davis Polk corporate team included partner Jon Gray, counsel Christopher Kodama and associates Chihiro Sasaki and Paul Lee. Counsel Alon Gurfinkel and associate Summer Xia provided tax advice. Members of the Davis Polk team are based in the Tokyo and London offices.

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