XR CLOUD developer’s listing plan gets regulatory approval

Japan-based monoAI technology, which develops an XR CLOUD metaverse platform, has got the greenlight from the Tokyo Stock Exchange to list on the Growth Market, the company said on November 15.

The listing is scheduled for December 20. 

The XR CLOUD platform provides virtual spaces based on a proprietary large-scale VR space sharing technology. According to monoAI technology, it caters for business users such as large event organizers and virtual stores which often look for instant and high-speed connection among a large number of users.

The system offers two-way voice conversation, text communication and virtual venues for lectures and exhibitions. It was used at a social event in March 2021 for the opening ceremony of the Graphics Literacy Education and Research Center at Kobe University’s Graduate School of Engineering, and at a virtual fan event for the local VTuber unit “Nihon Retsujima” held by Chukyo TV in June of the same year.

The total number of authorized shares is 3,489,880, and the total number of issued shares is 8,723,220 as of November 15. The total number of shares outstanding at the time of listing was 9,923,220 shares, including shares offered to the public. The number of shares per unit is 100 shares. The shareholder registry administrator is Mizuho Trust & Banking, the auditor is Kagayaki Audit Corporation, and the lead transaction participant is SMBC Nikko Securities.

monoAI Technology expressed its gratitude to all of its stakeholders for their support since the company’s founding. “We will continue to make every effort to improve our corporate value and meet everyone’s expectations,” it said in a statement.