Pre-IPO Support for a Beauty & Fitness Products ManufacturerDBJ Underwrites Ya-Man Ltd Issue of Convertible Preferred Shares

Development Bank of Japan Inc. has underwritten 1 billion yen in preferred shares for Ya-Man Ltd, a manufacturer and seller of beauty and fitness products (President and CEO: Kimiyo Yamasaki). Ya-Man will use the funds obtained to make capital investments required for research and development and an expansion of its operations.


The first firm in Japan to develop an instrument for measuring body fat, Ya-Man has focused on supplying high-value products that reflect the actual needs of consumers. In both design and function, its products are the result of creative ideas that inform its effort to develop and market goods which demonstrate real effectiveness in improving beauty and fitness. Thanks to a system ensuring that consumer needs are swiftly reflected in product development, business performance is solid. Now, hoping to strengthen its brand and build trust, Ya-Man is considering seeking a listing on an exchange sometime next year.


DBJ based its decision to invest in Ya-Man’s issue of convertible preferred shares on the following factors:
1.With an increasingly effective and penetrating brand strategy for each distribution channel, Ya-Man has consistently strengthened and stabilized its profit base. Profits are expected to remain at reasonable levels in the future.

2.Backed by strong marketing and innovative thinking, Ya-Man has a history of turning out highly functional products, typified by its body-fat gauges and other items developed with the consumer’s values and sensitivities in mind. It has also acquired numerous patents and works diligently to awaken latent demand by constantly improving its product lineup.

3.By making this investment, DBJ can help Ya-Man strengthen its financial base ahead of next year’s planned listing. Significant credit enhancement is anticipated as well.


A private institution since October 1st of this year, DBJ actively supports its customers in their efforts to launch IPOs. As its corporate philosophy makes clear, DBJ aims at “applying financial expertise to design the future.” Using creative financing to resolve customer issues, DBJ will work with its customers to build their trust and achieve future prosperity.