Micware Co Ltd - launches Micware Spacia Co., Ltd; effective date of launch is September 1, 2026

Micware Co., Ltd. (Nasdaq: MWC) has announced the launch of a new subsidiary, Micware Spacia Co., Ltd., effective September 1, 2026. The move follows the successful completion of the company’s upsized initial public offering in May 2026, which raised $22.8 million in gross proceeds before underwriting discounts and expenses. The new entity is expected to focus on expanding the company’s strategic initiatives in the Software Defined Vehicles (SDV) and Location-Based Services (LBS) segments, aligning with broader allocation of IPO proceeds for innovation and market expansion.

Micware, a Japan-based provider of software development services for the automotive and mobility sectors, has long-term partnerships with major Japanese automakers such as Honda and Toyota. The company has allocated a portion of its IPO proceeds to the Dynamic Street Map & Market Place (DSMM) project and the expansion of its proprietary in-vehicle infotainment (IVI) platform, micAuto-PF platform expansion. The establishment of Micware Spacia Co., Ltd. is likely to support these initiatives by enabling more targeted development and operational efficiency.

The launch of the subsidiary comes as Micware continues to strengthen its competitive position in the global automotive software market. The company has also granted the underwriters a 45-day option to purchase up to an additional 427,500 American Depositary Shares (ADSs) to cover over-allotments, if any over-allotment option. With its expanded capital base and new organizational structure, Micware is positioned to pursue growth opportunities in both domestic and international markets.