WHI Holdings set for Dec. 15 Tokyo IPO at about $2.5B valuation

Key facts

• WHI Holdings develops human resource systems and is backed by Bain and GIC, according to Nikkei Asia.
• The company has been approved to list on Tokyo's exchange in December, Nikkei Asia reported.
• The IPO is likely to be Japan's largest in 2026, Nikkei Asia reported, citing a valuation of roughly 400 billion yen.

WHI Holdings, a developer of human resource systems backed by Bain and GIC, is poised for a December 15 initial public offering on the Tokyo exchange, Nikkei Asia reported on November 14, 2026. The listing is likely to be Japan's largest in 2026, at a valuation of roughly 400 billion yen, or about $2.5 billion, according to the report.

The company has been approved to list on Tokyo's exchange in December, Nikkei Asia reported. Tomitaro Anzai is WHI's chief executive.