Japan-based web developer SFIDA X withdraws $6 million US IPO
IPO Overview
SFIDA X, a Japan-based provider of website design, development, and other IT services, withdrew its plans for an initial public offering on Tuesday. It had initially filed in December 2024, and set terms in June 2025 to raise $6 million by offering 1 million shares at a price range of $5 to $6
The Tokyo, Japan-based company was founded in 2009 and booked $33 million in sales for the 12 months ended March 31, 2025. It had planned to list on the Nasdaq under the symbol SFDX. ThinkEquity was set to be the sole bookrunner on the deal.
About the Company
Based on our management philosophy of “causing transformation through challenge,” we provide web development, system integration, and IT consulting solutions to a comprehensive range of clients – from Japanese small and medium-sized enterprises （“SMEs”） to large domestic businesses in varied industries. Consistent with our aim to “provide services that connect people to people and people to companies,” we offer targeted solutions through web development, IT technical support, and IT strategy planning customized to the sizes of enterprises spanning various industries in Japan. Through SFIDA X, we provide our “WebDX Consulting Business” （“DX” stands for “digital transformation”） that offers optimal solutions utilizing the Internet, Internet technology, and artificial intelligence （“AI”） to solve various problems faced by small and medium-sized enterprises and to support their business operations. In addition, we have two wholly-owned subsidiaries: Style Free, Inc. and Berkeley Consulting, Inc. Style Free operates our “System Integration Business” that provides IT technical support services for system development projects and contracted system development, mainly for large companies. Berkeley Consulting provides our “IT Consulting Business” which helps our large enterprise clients transform their businesses through IT strategy planning, conceptual support, project management, and utilization Robotic Process Automation （“RPA”） for large enterprises.