SmartHR Delays $1 Billion Tokyo IPO to 2027 as AI Fears Hit SaaS Valuations
Updated
Updated · Bloomberg · Jul 8
SmartHR Delays $1 Billion Tokyo IPO to 2027 as AI Fears Hit SaaS Valuations
1 articles · Updated · Bloomberg · Jul 8
Summary
SmartHR has pushed its planned Tokyo listing to next year at the earliest after investors balked at the company’s targeted valuation, according to people familiar with the matter.
About $1 billion was the valuation SmartHR had been seeking, but investors also raised concerns that the AI boom could disrupt the SaaS sector and pressure multiples.
KKR-backed SmartHR is still working with Daiwa Securities, Goldman Sachs and Morgan Stanley on the deal, though both timing and valuation remain subject to change.
The delay underscores how AI-related uncertainty is complicating IPO plans for software companies even as they try to tap Japan’s equity market.